Company Registration No. 12800520 (England and Wales)
DRS FLOORING LTD
Unaudited accounts
for the year ended 31 August 2024
DRS FLOORING LTD
Unaudited accounts
Contents
DRS FLOORING LTD
Company Information
for the year ended 31 August 2024
Director
DANIEL ROBERT SKATE
Company Number
12800520 (England and Wales)
Registered Office
21 CLEVELAND AVENUE
NORTH HYKEHAM
LINCOLN
LN6 9TH
ENGLAND
Accountants
CALCUL8 LIMITED
57 HIGH STREET
SAXILBY
LINCOLN
LINCOLNSHIRE
LN1 2HA
DRS FLOORING LTD
Statement of financial position
as at 31 August 2024
Tangible assets
58,752
49,942
Cash at bank and in hand
40,837
90,548
Creditors: amounts falling due within one year
(26,391)
(33,173)
Net current assets
51,310
82,269
Total assets less current liabilities
110,062
132,211
Creditors: amounts falling due after more than one year
(47,674)
(37,498)
Provisions for liabilities
Deferred tax
(11,205)
(616)
Called up share capital
10
10
Profit and loss account
51,173
94,087
Shareholders' funds
51,183
94,097
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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 November 2024 and were signed on its behalf by
DANIEL ROBERT SKATE
Director
Company Registration No. 12800520
DRS FLOORING LTD
Notes to the Accounts
for the year ended 31 August 2024
DRS FLOORING LTD is a private company, limited by shares, registered in England and Wales, registration number 12800520. The registered office is 21 CLEVELAND AVENUE, NORTH HYKEHAM, LINCOLN, LN6 9TH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods and services is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing balance
Motor vehicles
25% Reducing balance
Computer equipment
15% Reducing balance
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
DRS FLOORING LTD
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2023
1,928
63,931
591
66,450
Additions
339
37,367
1,058
38,764
Disposals
-
(33,496)
-
(33,496)
At 31 August 2024
2,267
67,802
1,649
71,718
At 1 September 2023
225
16,224
59
16,508
Charge for the year
230
12,280
172
12,682
On disposals
-
(16,224)
-
(16,224)
At 31 August 2024
455
12,280
231
12,966
At 31 August 2024
1,812
55,522
1,418
58,752
At 31 August 2023
1,703
47,707
532
49,942
Amounts falling due within one year
Trade debtors
16,704
12,415
Accrued income and prepayments
114
-
Other debtors
20,046
12,479
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
11,868
13,417
Trade creditors
3,371
9,666
Taxes and social security
11,784
16,442
Loans from directors
(1,562)
11
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
47,674
37,498
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
DRS FLOORING LTD
Notes to the Accounts
for the year ended 31 August 2024
9
Transactions with related parties
Dividends of £85,000 (2023: £80,600) were declared in relation to this financial year.
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).