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REGISTERED NUMBER: 01782168 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30th April 2024

for

Dry Lining Supplies Limited

Dry Lining Supplies Limited (Registered number: 01782168)

Contents of the Financial Statements
for the Year Ended 30th April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dry Lining Supplies Limited

Company Information
for the Year Ended 30th April 2024







DIRECTOR: P M White





REGISTERED OFFICE: Sovereign House
155 High Street
Aldershot
Surrey
GU11 1TT





REGISTERED NUMBER: 01782168 (England and Wales)





ACCOUNTANTS: Whiteleys
Chartered Certified Accountants
Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT

Dry Lining Supplies Limited (Registered number: 01782168)

Balance Sheet
30th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 105,941 139,104

CURRENT ASSETS
Stocks 390,470 358,786
Debtors 6 443,887 442,434
Cash at bank and in hand 567,944 350,920
1,402,301 1,152,140
CREDITORS
Amounts falling due within one year 7 299,272 232,595
NET CURRENT ASSETS 1,103,029 919,545
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,208,970

1,058,649

PROVISIONS FOR LIABILITIES 26,288 26,270
NET ASSETS 1,182,682 1,032,379

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings 1,182,282 1,031,979
SHAREHOLDERS' FUNDS 1,182,682 1,032,379

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Dry Lining Supplies Limited (Registered number: 01782168)

Balance Sheet - continued
30th April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15th November 2024 and were signed by:





P M White - Director


Dry Lining Supplies Limited (Registered number: 01782168)

Notes to the Financial Statements
for the Year Ended 30th April 2024


1. STATUTORY INFORMATION

Dry Lining Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Tangible fixed assets
Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Short leasehold property-Straight line over the life of the lease
Plant and machinery-20% reducing balance
Fixtures, fittings and
equipment

-

15% reducing balance
Motor vehicles-25% reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Stocks
Stocks are measured at the lower of cost and selling price less cost to complete and sell.

Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.


Dry Lining Supplies Limited (Registered number: 01782168)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Dry Lining Supplies Limited (Registered number: 01782168)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Dry Lining Supplies Limited (Registered number: 01782168)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024


5. TANGIBLE FIXED ASSETS
Fixtures,
Short Plant and fittings Motor
leasehold machinery & equipment vehicles Totals
£    £    £    £    £   
COST
At 1st May 2023 41,660 45,063 26,732 216,476 329,931
Additions - - 2,271 - 2,271
Disposals - - - (25,250 ) (25,250 )
At 30th April 2024 41,660 45,063 29,003 191,226 306,952
DEPRECIATION
At 1st May 2023 32,600 30,965 8,190 119,072 190,827
Charge for year 906 2,820 3,122 22,940 29,788
Eliminated on disposal - - - (19,604 ) (19,604 )
At 30th April 2024 33,506 33,785 11,312 122,408 201,011
NET BOOK VALUE
At 30th April 2024 8,154 11,278 17,691 68,818 105,941
At 30th April 2023 9,060 14,098 18,542 97,404 139,104

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 82,945 104,216
Amounts owed by group undertakings 336,926 315,321
Other debtors 24,016 22,897
443,887 442,434

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 183,018 121,544
Amounts owed to group undertakings - 52,347
Taxation and social security 105,521 48,765
Other creditors 10,733 9,939
299,272 232,595

Dry Lining Supplies Limited (Registered number: 01782168)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 52,000 52,000
Between one and five years 208,000 208,000
In more than five years 125,666 177,666
385,666 437,666