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Registered number: 01385661
Darch and Gibbs Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
E. H. Taylors
203 London Road
Hadleigh
Benfleet
Essex
SS7 2RD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 01385661
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,507 10,138
9,507 10,138
CURRENT ASSETS
Stocks 5 3,900 4,100
Debtors 6 9,834 7,343
Cash at bank and in hand 121,987 74,010
135,721 85,453
Creditors: Amounts Falling Due Within One Year 7 (199,731 ) (202,217 )
NET CURRENT ASSETS (LIABILITIES) (64,010 ) (116,764 )
TOTAL ASSETS LESS CURRENT LIABILITIES (54,503 ) (106,626 )
NET LIABILITIES (54,503 ) (106,626 )
CAPITAL AND RESERVES
Called up share capital 8 4,000 4,000
Profit and Loss Account (58,503 ) (110,626 )
SHAREHOLDERS' FUNDS (54,503) (106,626)
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Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Peter Darch
Director
28th October 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Darch and Gibbs Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01385661 . The registered office is 11 Craftsman Square, Temple Farm Industrial Estate, Southend-on-Sea, Essex, SS2 5RH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The accounts have been prepared on a going concern basis as assurances have been received from the directors that funds will be made available to enable the company to settle its liabilities as and when they fall due for a period of at least twelve months from the date of approval of these accounts.
2.3. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 September 2023 63,620 950 64,570
Additions 1,048 - 1,048
As at 31 August 2024 64,668 950 65,618
Depreciation
As at 1 September 2023 53,484 948 54,432
Provided during the period 1,678 1 1,679
As at 31 August 2024 55,162 949 56,111
...CONTINUED
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Net Book Value
As at 31 August 2024 9,506 1 9,507
As at 1 September 2023 10,136 2 10,138
5. Stocks
2024 2023
£ £
Materials 2,500 2,600
Work in progress 1,400 1,500
3,900 4,100
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,849 4,491
Prepayments and accrued income 2,985 2,852
9,834 7,343
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 50
Other taxes and social security - 247
VAT 3,721 3,096
Accruals and deferred income 3,907 3,721
Directors' loan accounts 192,103 195,103
199,731 202,217
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
4,000 Ordinary Shares of £ 1.00 each 4,000 4,000
9. Pension Commitments
The company operates a defined contribution pension scheme for the benefit of one employee. The assets of the scheme are held separately from those of the company in an independently administered fund. There were no amounts outstanding or prepaid at the year end.
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