2023-04-012024-03-312024-03-31false05086170DIBBLE PLANT 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DIBBLE PLANT LIMITED

Registered Number
05086170
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

DIBBLE PLANT LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Hugh Dibble

Registered Address

Walker House
Market Place
Somerton
TA11 7LZ

Registered Number

05086170 (England and Wales)
DIBBLE PLANT LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets38,48310,925
8,48310,925
Current assets
Stocks4305300
Debtors55,098833
Cash at bank and on hand2,208890
7,6112,023
Creditors amounts falling due within one year6(110,080)(88,256)
Net current assets (liabilities)(102,469)(86,233)
Total assets less current liabilities(93,986)(75,308)
Creditors amounts falling due after one year7(28,090)(29,740)
Provisions for liabilities8-(1,300)
Net assets(122,076)(106,348)
Capital and reserves
Called up share capital11
Profit and loss account(122,077)(106,349)
Shareholders' funds(122,076)(106,348)
The financial statements were approved and authorised for issue by the Director on 10 October 2024, and are signed on its behalf by:
Hugh Dibble
Director
Registered Company No. 05086170
DIBBLE PLANT LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 April 2334,90715,1254,46554,497
Additions--385385
At 31 March 2434,90715,1254,85054,882
Depreciation and impairment
At 01 April 2328,99610,1664,41043,572
Charge for year1,4781,2391102,827
At 31 March 2430,47411,4054,52046,399
Net book value
At 31 March 244,4333,7203308,483
At 31 March 235,9114,9595510,925
4.Stocks

2024

2023

££
Raw materials and consumables305300
Total305300
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,250540
Other debtors3,720-
Prepayments and accrued income128293
Total5,098833
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables498626
Bank borrowings and overdrafts3,9681,965
Amounts owed to related parties103,26682,297
Taxation and social security1,5472,389
Accrued liabilities and deferred income801979
Total110,08088,256
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts28,09029,740
Total28,09029,740
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)-1,300
Total-1,300