1 September 2023 false Taxfiler 2024.6 12800520business:PrivateLimitedCompanyLtd2023-09-012024-08-31 128005202023-08-31 128005202023-09-012024-08-31 12800520business:AuditExemptWithAccountantsReport2023-09-012024-08-31 12800520business:FilletedAccounts2023-09-012024-08-31 128005202024-08-31 12800520business:Director12023-09-012024-08-31 12800520business:RegisteredOffice2023-09-012024-08-31 128005202023-08-31 12800520core:WithinOneYear2024-08-31 12800520core:WithinOneYear2023-08-31 12800520core:AfterOneYear2024-08-31 12800520core:AfterOneYear2023-08-31 12800520core:ShareCapitalcore:PreviouslyStatedAmount2024-08-31 12800520core:ShareCapitalcore:PreviouslyStatedAmount2023-08-31 12800520core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-08-31 12800520core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-08-31 12800520core:PreviouslyStatedAmount2024-08-31 12800520core:PreviouslyStatedAmount2023-08-31 12800520business:SmallEntities2023-09-012024-08-31 12800520countries:EnglandWales2023-09-012024-08-31 12800520core:PlantMachinery2023-09-012024-08-31 12800520core:MotorVehicles2023-09-012024-08-31 12800520core:ComputerEquipment2023-09-012024-08-31 12800520core:PlantMachinery2023-08-31 12800520core:MotorVehicles2023-08-31 12800520core:ComputerEquipment2023-08-31 12800520core:PlantMachinery2024-08-31 12800520core:MotorVehicles2024-08-31 12800520core:ComputerEquipment2024-08-31 12800520business:OrdinaryShareClass12023-09-012024-08-31 12800520business:OrdinaryShareClass12022-09-012023-08-31 128005202022-09-012023-08-31 iso4217:GBP xbrli:shares xbrli:pure
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
Page
- 2 -
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
- 3 -
DRS FLOORING LTD Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
58,752 
49,942 
Current assets
Debtors
36,864 
24,894 
Cash at bank and in hand
40,837 
90,548 
77,701 
115,442 
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)
Net assets
51,183 
94,097 
Capital and reserves
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
- 4 -
DRS FLOORING LTD Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Leased assets
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 taxation
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.
- 5 -
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 
Depreciation
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 
Net book value
At 31 August 2024
1,812 
55,522 
1,418 
58,752 
At 31 August 2023
1,703 
47,707 
532 
49,942 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
16,704 
12,415 
Accrued income and prepayments
114 
- 
Other debtors
20,046 
12,479 
36,864 
24,894 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
930 
(6,363)
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 
26,391 
33,173 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
47,674 
37,498 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10 
10 
- 6 -
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).
- 7 -