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Registered number: 01169825
D. & T. Scenic's Limited
Financial Statements
For The Year Ended 28 February 2024
H B Mistry & Co Ltd
Chartered accountants
Tudor House Mill Lane
Calcot
Reading
RG31 7RS
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 01169825
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 570,076 657,340
570,076 657,340
CURRENT ASSETS
Stocks 5 6,992 5,413
Debtors 6 14,430 10,897
Cash at bank and in hand 26,475 95,804
47,897 112,114
Creditors: Amounts Falling Due Within One Year 7 (144,732 ) (136,249 )
NET CURRENT ASSETS (LIABILITIES) (96,835 ) (24,135 )
TOTAL ASSETS LESS CURRENT LIABILITIES 473,241 633,205
Creditors: Amounts Falling Due After More Than One Year 8 (24,349 ) (123,192 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (73,802 ) (90,740 )
NET ASSETS 375,090 419,273
CAPITAL AND RESERVES
Called up share capital 12 40,000 40,000
Revaluation reserve 14 420,005 552,609
Profit and Loss Account (84,915 ) (173,336 )
SHAREHOLDERS' FUNDS 375,090 419,273
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Timothy Deaton
Director
23rd September 2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
D. & T. Scenic's Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01169825 . The registered office is Pipers Island, Bridge Street, Caversham Bridge, Reading,Berks, RG4 8AA.
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 company is steadily recovering from the adverse impact of Covid 19 Pandemic. The turnover has increased to normal levels and the company has returned to profitable trading.
The directors are confident on the future prospects  of the  company as it strives to increase its overall profitablilty and ensure its viability for the foreseable future.
2.3. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Freehold 2% Straight Line
Leasehold Over 15 Years
Boats Over 4-10 Years
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Equipment 20% Reducing Balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2023: 21)
22 21
4. Tangible Assets
Land & Property
Freehold Leasehold Boats Motor Vehicles
£ £ £ £
Cost
As at 1 March 2023 8,865 26,925 906,551 63,397
Additions - - - -
As at 28 February 2024 8,865 26,925 906,551 63,397
Depreciation
As at 1 March 2023 6,921 26,925 272,834 44,457
Provided during the period 295 - 90,586 4,735
As at 28 February 2024 7,216 26,925 363,420 49,192
Net Book Value
As at 28 February 2024 1,649 - 543,131 14,205
As at 1 March 2023 1,944 - 633,717 18,940
Fixtures & Fittings Equipment Total
£ £ £
Cost
As at 1 March 2023 43,804 269,728 1,319,270
Additions 9,752 12,500 22,252
As at 28 February 2024 53,556 282,228 1,341,522
...CONTINUED
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Page 5
Depreciation
As at 1 March 2023 42,428 268,365 661,930
Provided during the period 11,127 2,773 109,516
As at 28 February 2024 53,555 271,138 771,446
Net Book Value
As at 28 February 2024 1 11,090 570,076
As at 1 March 2023 1,376 1,363 657,340
Boats are stated at director's valuation at 29th February 2024.  The valuation is similar to the previous year.
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
At 28th February 2024, The total tangible cost of fixed assets is £710,915 (2023 £710,915) less depreciation of £686,307 (2023 £678,062) leaving a net book value of £24,608 (2023 £32.852).
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows
2024 2023
£ £
Motor Vehicles 5,619 10,353
5,619 10,353
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
Boats
£
Cost 710,915
Accumulated depreciation and impairment 686,307
Carrying amount 24,608
5. Stocks
2024 2023
£ £
Materials 6,992 5,413
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 11,792 9,792
VAT 2,638 1,105
14,430 10,897
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,287 4,287
Trade creditors 35,415 16,047
Other creditors 99,830 112,907
Taxation and social security 5,200 3,008
144,732 136,249
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,049 12,380
Bank Loan - 65,512
Loan - Bridget French 10,000 40,000
Other creditors 5,300 5,300
24,349 123,192
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 20,861 65,512
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,287 4,287
Later than one year and not later than five years 9,049 12,380
13,336 16,667
13,336 16,667
11. Deferred Taxation
The provision for deferred taxation is comprised of :
2024 2023
£ £
Accelerated capital allowances 5,119 10,730
Tax losses carried forward (29,836 ) (34,154 )
Other timing differences 98,519 114,164
73,802 90,740
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 40,000 40,000
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13. Directors Advances, Credits and Guarantees
Included within Creditors is the following amount owed to the director:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 28 February 2024
£ £ £ £ £
Mr Timothy Deaton (24,479 ) - 10,660 - (13,818 )
The above loan is unsecured, interest free and repayable on demand.
14. Reserves
Revaluation Reserve
£
As at 1 March 2023 552,609
Revaluation- Reclassifaction from revaluation (132,604 )
As at 28 February 2024 420,005
The transfer relate to excess over historical cost depreciation, adjusted for deferred tax, transferred from revaluation reserve.
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