18 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,300 2,300 xbrli:pure xbrli:shares iso4217:GBP 05698630 2023-03-01 2024-02-29 05698630 2024-02-29 05698630 2023-02-28 05698630 2022-03-01 2023-02-28 05698630 2023-02-28 05698630 2022-02-28 05698630 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-01 2024-02-29 05698630 core:FurnitureFittings 2023-03-01 2024-02-29 05698630 core:MotorVehicles 2023-03-01 2024-02-29 05698630 bus:Director1 2023-03-01 2024-02-29 05698630 bus:Director2 2023-03-01 2024-02-29 05698630 core:PatentsTrademarksLicencesConcessionsSimilar 2024-02-29 05698630 core:FurnitureFittings 2023-02-28 05698630 core:MotorVehicles 2023-02-28 05698630 core:FurnitureFittings 2024-02-29 05698630 core:MotorVehicles 2024-02-29 05698630 core:WithinOneYear 2024-02-29 05698630 core:WithinOneYear 2023-02-28 05698630 core:AfterOneYear 2024-02-29 05698630 core:AfterOneYear 2023-02-28 05698630 core:ShareCapital 2024-02-29 05698630 core:ShareCapital 2023-02-28 05698630 core:RetainedEarningsAccumulatedLosses 2024-02-29 05698630 core:RetainedEarningsAccumulatedLosses 2023-02-28 05698630 core:FurnitureFittings 2023-02-28 05698630 core:MotorVehicles 2023-02-28 05698630 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2024-02-29 05698630 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2023-02-28 05698630 bus:SmallEntities 2023-03-01 2024-02-29 05698630 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 05698630 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 05698630 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05698630 bus:FullAccounts 2023-03-01 2024-02-29 05698630 core:ComputerEquipment 2023-03-01 2024-02-29 05698630 core:ComputerEquipment 2023-02-28 05698630 core:ComputerEquipment 2024-02-29 05698630 core:AllAssociates 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 05698630
DPJ Electrical Services Ltd
Filleted Unaudited Financial Statements
For the year ended
29 February 2024
DPJ Electrical Services Ltd
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
174,105
128,366
Current assets
Stocks
16,963
19,719
Debtors
7
531,798
681,208
Cash at bank and in hand
324,762
116,639
---------
---------
873,523
817,566
Creditors: amounts falling due within one year
8
267,425
254,019
---------
---------
Net current assets
606,098
563,547
---------
---------
Total assets less current liabilities
780,203
691,913
Creditors: amounts falling due after more than one year
9
65,487
58,792
Provisions
27,850
15,544
---------
---------
Net assets
686,866
617,577
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
685,866
616,577
---------
---------
Shareholders funds
686,866
617,577
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DPJ Electrical Services Ltd
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 27 November 2024 , and are signed on behalf of the board by:
Mr D P Judge
Mrs A M Judge
Director
Director
Company registration number: 05698630
DPJ Electrical Services Ltd
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 16b, Tabrums Farm, Battlesbridge, Essex, SS11 7QX, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents, trademarks and licences
-
33% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
10% straight line
Motor vehicles
-
25% reducing balance
Equipment
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 18 (2023: 18 ).
5. Intangible assets
Patents, trademarks and licences
£
Cost
At 1 March 2023 and 29 February 2024
2,300
-------
Amortisation
At 1 March 2023 and 29 February 2024
2,300
-------
Carrying amount
At 29 February 2024
-------
At 28 February 2023
-------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 March 2023
13,095
213,014
32,997
259,106
Additions
92,440
2,759
95,199
Disposals
( 11,795)
( 1,653)
( 13,448)
--------
---------
--------
---------
At 29 February 2024
13,095
293,659
34,103
340,857
--------
---------
--------
---------
Depreciation
At 1 March 2023
9,542
96,744
24,454
130,740
Charge for the year
677
40,407
4,413
45,497
Disposals
( 8,876)
( 609)
( 9,485)
--------
---------
--------
---------
At 29 February 2024
10,219
128,275
28,258
166,752
--------
---------
--------
---------
Carrying amount
At 29 February 2024
2,876
165,384
5,845
174,105
--------
---------
--------
---------
At 28 February 2023
3,553
116,270
8,543
128,366
--------
---------
--------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 29 February 2024
101,770
---------
At 28 February 2023
104,072
---------
7. Debtors
2024
2023
£
£
Trade debtors
315,264
456,447
Other debtors
216,534
224,761
---------
---------
531,798
681,208
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
61,354
87,745
Social security and other taxes
93,447
101,830
Other creditors
112,624
64,444
---------
---------
267,425
254,019
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
65,487
58,792
--------
--------
10. Directors' advances, credits and guarantees
During the year the company continued to extend credit and make advances to a director. These amounts are repayable on demand and interest has been charged on any outstanding balances on a daily basis, calculated at the HMRC official beneficial loan rate. Details of the advances and amounts repaid are:
2024 2023
£ £
Amounts advanced 4,703 8,584
Amounts repaid 4,703 8,584
11. Loans to entities under common control
At the balance sheet date a balance of £154,312 (2023: £154,312) was owed to the business by DPJ Holdings Limited by way of an interest free loan. This is a company with common directors. At the balance sheet date a balance of £54,957 (2023: £69,490) was owed to the business by DPJ Sprinklers Limited. This is a company with common directors.
12. Operating leases
The total future minimum lease payments under non-cancellable operating leases is £14,121 (2023: £32,414).