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Company No: 06796492 (England and Wales)

DPR HOME IMPROVEMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

DPR HOME IMPROVEMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

DPR HOME IMPROVEMENTS LIMITED

BALANCE SHEET

As at 31 March 2024
DPR HOME IMPROVEMENTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 40,960 16,522
40,960 16,522
Current assets
Stocks 77,849 113,319
Debtors 4 32,596 34,769
Cash at bank and in hand 0 97,873
110,445 245,961
Creditors: amounts falling due within one year 5 ( 134,853) ( 185,350)
Net current (liabilities)/assets (24,408) 60,611
Total assets less current liabilities 16,552 77,133
Creditors: amounts falling due after more than one year 6 ( 15,815) ( 33,427)
Net assets 737 43,706
Capital and reserves
Called-up share capital 100 100
Profit and loss account 637 43,606
Total shareholders' funds 737 43,706

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of DPR Home Improvements Limited (registered number: 06796492) were approved and authorised for issue by the Board of Directors on 14 November 2024. They were signed on its behalf by:

R Richley
Director
R White
Director
DPR HOME IMPROVEMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
DPR HOME IMPROVEMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

DPR Home Improvements Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is 19 Station Road, New Milton, Hampshire BH25 6HN.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Leasehold improvements depreciated over the life of the lease
Vehicles 15 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

The company holds the following financial instruments:

•Short term trade and other debtors and creditors;
•Bank loans; and
•Cash and bank balances.

All financial instruments are classified as basic.
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using effective interest method.

Defined Contribution Pension Scheme

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Tangible assets

Leasehold improve-
ments
Vehicles Office equipment Total
£ £ £ £
Cost
At 01 April 2023 0 53,432 426 53,858
Additions 1,455 28,290 0 29,745
At 31 March 2024 1,455 81,722 426 83,603
Accumulated depreciation
At 01 April 2023 0 36,910 426 37,336
Charge for the financial year 0 5,307 0 5,307
At 31 March 2024 0 42,217 426 42,643
Net book value
At 31 March 2024 1,455 39,505 0 40,960
At 31 March 2023 0 16,522 0 16,522

4. Debtors

2024 2023
£ £
Trade debtors 13,910 30,669
Corporation tax 7,935 0
Other debtors 10,751 4,100
32,596 34,769

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 38,034 25,689
Trade creditors 60,832 117,956
Taxation and social security 20,352 35,057
Obligations under finance leases and hire purchase contracts 4,417 0
Other creditors 11,218 6,648
134,853 185,350

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 5,019 33,427
Obligations under finance leases and hire purchase contracts 10,796 0
15,815 33,427

There are no amounts included above in respect of which any security has been given by the small entity.

7. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 15,996 7,583

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Advanced/(Owed to) to directors (5,221) 4,100

Interest of £nil (2023: £nil) was charged on the overdrawn directors' loan account