01 March 2023 29 February 2024 No principle activity is included 04166548 2023-03-01 04166548 2024-02-29 04166548 2023-03-01 2024-02-29 04166548 2023-02-28 04166548 2021-03-01 2023-02-28 04166548 uk-core:WithinOneYear 2024-02-29 04166548 uk-core:WithinOneYear 2023-02-28 04166548 uk-core:ShareCapital 2024-02-29 04166548 uk-core:ShareCapital 2023-02-28 04166548 uk-core:RetainedEarningsAccumulatedLosses 2024-02-29 04166548 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 04166548 uk-bus:RegisteredOffice 2023-03-01 2024-02-29 04166548 uk-curr:PoundSterling 2023-03-01 2024-02-29 04166548 uk-core:PlantMachinery 2023-03-01 2024-02-29 04166548 uk-core:Vehicles 2023-03-01 2024-02-29 04166548 uk-core:FurnitureFittings 2023-03-01 2024-02-29 04166548 uk-core:OfficeEquipment 2023-03-01 2024-02-29 04166548 uk-bus:FRS102 2023-03-01 2024-02-29 04166548 uk-bus:FullAccounts 2023-03-01 2024-02-29 04166548 uk-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 04166548 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  DGC MOTOR CO LTD
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE PERIOD ENDED 29 FEBRUARY 2024
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  DGC MOTOR CO LTD
  FINANCIAL STATEMENTS
  FOR THE PERIOD ENDED 29 FEBRUARY 2024
       
       
  DIRECTOR
       
  D G Cunliffe
       
       
       
  SECRETARY
       
  D G Cunliffe
       
  REGISTERED OFFICE
       
  151 Lowton Road
Golborne
Warrington
WA3 3HN

       
       
  COMPANY REGISTERED NUMBER
       
  04166548
       
       
  BANKERS
       
  National Westminster Bank plc
       
       
  ACCOUNTANTS
       
  R D Hill Associates
  Accountants
  5 Whinslee Drive
Lostock
Bolton
BL6 4NB
       
  page 1
  DGC MOTOR CO LTD
  FINANCIAL STATEMENTS
  FOR THE PERIOD ENDED 29 FEBRUARY 2024
       
       
       
  CONTENTS
       
  Pages
       
  3-4 Abridged Statement of Financial Position  
       
  5-8 Notes to the Financial Statements  
       
     
  page 2
  DGC MOTOR CO LTD
  Company registered number: 04166548
  ABRIDGED STATEMENT OF FINANCIAL POSITION AT 29 February 2024
           
    Note 2024 2023
      £ £ £
  FIXED ASSETS
  Property, plant and equipment 474,986 475,535
  CURRENT ASSETS    
  Inventories   422,376 419,966
  Debtors   204,905 35,713
  Cash at bank and in hand   207,343 302,421
      834,624 758,100
  CREDITORS: Amounts falling due within one year 4 57,573 54,016
  NET CURRENT ASSETS   777,051 704,084
  TOTAL ASSETS LESS CURRENT LIABILITIES   1,252,037 1,179,619
           
  PROVISIONS FOR LIABILITIES   (777) (695)
  NET ASSETS   £1,251,260 £1,178,924
       
  CAPITAL AND RESERVES
  Called up share capital   200 200
  Retained earnings   1,251,060 1,178,724
  SHAREHOLDERS' FUNDS   £1,251,260 £1,178,924
       
  page 3
  DGC MOTOR CO LTD
  Company registered number: 04166548
  ABRIDGED STATEMENT OF FINANCIAL POSITION AT 29 February 2024 (CONT.)
           
       
       
  In approving these financial statements as director of the company I hereby confirm the following:
       
  For the period in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
       
  These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies
       
  All the members have consented to the preparation of an abridged Statement of Financial Position for the period ended 29 February 2024 in accordance with Section 444 (2A) of the Companies Act 2006
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered
  The financial statements were approved and authorised for issue by the board of directors on 31 October 2024
 
  Signed on behalf of the board of directors
 
 
       
  D G Cunliffe, Director
       
       
  page 4
  DGC MOTOR CO LTD
  NOTES TO THE ACCOUNTS
  FOR THE PERIOD ENDED 29 FEBRUARY 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  DGC MOTOR CO LTD is a private limited company incorporated in England and Wales.
         
  Registered office:
  151 Lowton Road
Golborne
Warrington
WA3 3HN

  These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 March 2023.
         
  The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in notes and below. These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
         
 
         
  Basis of accounting
         
 
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Borrowing costs
         
  Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
         
 
  page 5
  DGC MOTOR CO LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE PERIOD ENDED 29 FEBRUARY 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1e. Taxation
         
  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 temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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. The measurement of deferred tax liabilities and assets reflects 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 relate 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.
         
 
         
 
       
1f. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Plant and machinery Reducing balance 15%  
  Vehicles Reducing balance 25%  
  Fixtures and fittings Reducing balance 15%  
  Equipment Reducing balance 15%  
         
1g. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
         
1h. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1i. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
  page 6
  DGC MOTOR CO LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE PERIOD ENDED 29 FEBRUARY 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1j. Interest bearing borrowings
         
  All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.
         
         
1k. Leased assets
         
  Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
         
1l. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
         
1m. Judgements and key sources of estimation uncertainty
         
  In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
         
 
         
 
         
  page 7
  DGC MOTOR CO LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE PERIOD ENDED 29 FEBRUARY 2024
       
       
2. DIRECTORS AND EMPLOYEES
       
  Employee costs during the period amounted to: 2024 2023
    £ £
  Wages and salaries 64,751 52,131
  Social security costs (233) (296)
  Pension costs 873 1,361
    £65,391 £53,196
  The average weekly number of employees during the period were as follows:
    2024 2023
    No. No.
  Management and administration 2 2
  Production and sales 4 4
    6 6
   
       
3. FIXED ASSETS
    Property Total
    plant &  
    equipment  
    £ £
  Cost or valuation
  At 1 March 2023 495,806 495,806
  At 29 February 2024 495,806 495,806
   
  Provision for depreciation,
  amortisation and impairment
  At 1 March 2023 20,271 20,271
  For the period 549 549
  At 29 February 2024 20,820 20,820
   
  Net Book Value
       
  At 29 February 2024 474,986 474,986
  At 28 February 2023 475,535 475,535
   
       
       
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2024 2023
    £ £
  Trade creditors 23,219 13,044
  Corporation tax 30,160 24,361
  Other taxes and social security 2,468 592
  Other creditors - 14,493
  Accruals and deferred income 1,726 1,526
    £57,573 £54,016
   
       
  page 8