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REGISTERED NUMBER: 03743045 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

D B MOULDINGS LIMITED

D B MOULDINGS LIMITED (REGISTERED NUMBER: 03743045)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

D B MOULDINGS LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D Furlong
Mrs G L Furlong



SECRETARY: Mrs G L Furlong



REGISTERED OFFICE: 6 Goitra Coed Isaf
Incline Top
Abercynon
Rhondda Cynon Taff
CF45 4EL



REGISTERED NUMBER: 03743045 (England and Wales)



ACCOUNTANTS: James de Frias
Chartered Accountants
Llanover House
Llanover Road
Pontypridd
Rhondda Cynon Taff
CF37 4DY



BANKERS: Barclays Bank
Pontypridd Business Centre
South Wales Valleys Group
PO Box No 32
Pontypridd
Mid Glamorgan
CF37 4YA

D B MOULDINGS LIMITED (REGISTERED NUMBER: 03743045)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 54,000 72,000
Tangible assets 5 549,667 538,896
603,667 610,896

CURRENT ASSETS
Stocks 6 42,812 42,846
Debtors 7 527,392 451,915
Cash at bank and in hand 236,234 215,798
806,438 710,559
CREDITORS
Amounts falling due within one year 8 310,170 242,681
NET CURRENT ASSETS 496,268 467,878
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,099,935

1,078,774

CREDITORS
Amounts falling due after more than one
year

9

(42,403

)

(84,301

)

PROVISIONS FOR LIABILITIES (72,919 ) (65,639 )

ACCRUALS AND DEFERRED INCOME (43,625 ) (56,461 )
NET ASSETS 940,988 872,373

CAPITAL AND RESERVES
Called up share capital 10,050 10,050
Retained earnings 930,938 862,323
SHAREHOLDERS' FUNDS 940,988 872,373

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

D B MOULDINGS LIMITED (REGISTERED NUMBER: 03743045)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





D Furlong - Director


D B MOULDINGS LIMITED (REGISTERED NUMBER: 03743045)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

D B Mouldings 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Research and development
Expenditure on research and development is written off in accordance with the depreciation policy of the Company's machines and the treatment of the grant received by amortising over 5 years.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 15 ) .

D B MOULDINGS LIMITED (REGISTERED NUMBER: 03743045)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Development
Goodwill costs Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 96,000 15,522 111,522
AMORTISATION
At 1 April 2023 24,000 15,522 39,522
Amortisation for year 18,000 - 18,000
At 31 March 2024 42,000 15,522 57,522
NET BOOK VALUE
At 31 March 2024 54,000 - 54,000
At 31 March 2023 72,000 - 72,000

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 281,465 841,687 59,655 1,182,807
Additions - 104,742 - 104,742
Disposals - (51,493 ) - (51,493 )
At 31 March 2024 281,465 894,936 59,655 1,236,056
DEPRECIATION
At 1 April 2023 40,764 573,052 30,095 643,911
Charge for year 5,629 80,284 8,058 93,971
Eliminated on disposal - (51,493 ) - (51,493 )
At 31 March 2024 46,393 601,843 38,153 686,389
NET BOOK VALUE
At 31 March 2024 235,072 293,093 21,502 549,667
At 31 March 2023 240,701 268,635 29,560 538,896

6. STOCKS
31.3.24 31.3.23
£    £   
Stocks 42,812 42,846

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 369,752 292,016
Amounts recoverable on contract 125,169 131,017
Other debtors 5,821 5,921
Inter Company 21,354 17,837
Directors' current accounts 172 -
Prepayments 5,124 5,124
527,392 451,915

D B MOULDINGS LIMITED (REGISTERED NUMBER: 03743045)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 36,667 42,607
Trade creditors 168,019 133,350
Taxation and social security 102,834 53,366
Other creditors 2,650 13,358
310,170 242,681

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 42,403 84,301

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 79,070 126,908

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
D Furlong
Balance outstanding at start of year (1,523 ) 222
Amounts advanced 26,695 13,255
Amounts repaid (25,000 ) (15,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 172 (1,523 )

12. RELATED PARTY NOTE

T2 Solutions UK Limited
A Company in which Mr Furlong is a shareholder.

During the year the Company sold items to D B Mouldings Limited totalling £ (2023: £116,766).

Amount due from related party as at 31st March 2024 was £21,354 (2023: £17,837).

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
D B Mouldings Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of D B Mouldings Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of D B Mouldings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of D B Mouldings Limited and state those matters that we have agreed to state to the Board of Directors of D B Mouldings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D B Mouldings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that D B Mouldings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of D B Mouldings Limited. You consider that D B Mouldings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of D B Mouldings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






James de Frias
Chartered Accountants
Llanover House
Llanover Road
Pontypridd
Rhondda Cynon Taff
CF37 4DY


20 November 2024