Company No:
Contents
Note | 31.03.2024 | 31.03.2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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42,155 | 52,029 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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3,025 | 37,244 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (18,701) | (73,243) | ||
Total assets less current liabilities | 23,454 | (21,214) | ||
Creditors: amounts falling due after more than one year | 6 | (
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Net assets/(liabilities) |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds/(deficit) |
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Director's responsibilities:
The financial statements of DTM Recycled Aggregates Limited (registered number:
Mr N G Ball
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
DTM Recycled Aggregates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ambrison House Lorn Haven Business Park, Ashburton, Newton Abbot, TQ13 7FF, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
FRS102 requires the provision of deferred tax on timing differences between the tax and accounting treatment of qualifying fixed assets. The directors do not consider that providing for deferred tax in accordance with FRS102 would give an accurate representation of the company's financial position and have not included it within the accounts. In this respect the accounts do not comply with FRS102.
Land and buildings |
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Plant and machinery etc. |
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Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.
Year ended 31.03.2024 |
Period from 21.01.2022 to 31.03.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Land and buildings | Plant and machinery etc. | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 April 2023 |
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At 31 March 2024 |
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Accumulated depreciation | |||||
At 01 April 2023 |
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Charge for the financial year |
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At 31 March 2024 |
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Net book value | |||||
At 31 March 2024 |
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At 31 March 2023 |
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31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Trade debtors |
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Prepayments |
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VAT recoverable |
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31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to connected companies |
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Amounts owed to director |
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Accruals |
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Obligations under finance leases and hire purchase contracts (secured) |
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31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Obligations under finance leases and hire purchase contracts (secured) |
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31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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100 | 100 |
Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
31.03.2024 | 31.03.2023 | ||
£ | £ | ||
within one year |
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between one and five years |
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Other related party transactions
31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Devon Tarmasters (SW) Limited | 0 | 117,827 |
During the year, the loan of £100,144 owed to Devon Tarmasters (SW) Limited was wrote off.