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REGISTERED NUMBER: 04407777 (England and Wales)












Unaudited Financial Statements

for the Year Ended 29 February 2024

for

8 D-Closures Limited

8 D-Closures Limited (Registered number: 04407777)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


8 D-Closures Limited

Company Information
for the Year Ended 29 February 2024







Director: T Bland





Registered office: 13-17 Carden Street
Worcester
WR1 2AT





Registered number: 04407777 (England and Wales)





Accountants: Crowthers Chartered Accountants
15 St Georges Road
Cheltenham
Gloucestershire
GL50 3DT

8 D-Closures Limited (Registered number: 04407777)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 338,478 459,004
Property, plant and equipment 5 421,371 464,156
759,849 923,160

CURRENT ASSETS
Inventories 235,085 220,530
Debtors 6 590,815 462,600
Cash at bank 103,131 11,319
929,031 694,449
CREDITORS
Amounts falling due within one year 7 1,160,764 1,175,233
NET CURRENT LIABILITIES (231,733 ) (480,784 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

528,116

442,376

CREDITORS
Amounts falling due after more than one
year

8

(270,005

)

(189,008

)

PROVISIONS FOR LIABILITIES (91,598 ) (75,450 )
NET ASSETS 166,513 177,918

CAPITAL AND RESERVES
Called up share capital 10 4 4
Retained earnings 166,509 177,914
SHAREHOLDERS' FUNDS 166,513 177,918

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

8 D-Closures Limited (Registered number: 04407777)

Balance Sheet - continued
29 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2024 and were signed by:





T Bland - Director


8 D-Closures Limited (Registered number: 04407777)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

8 D-Closures 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

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

8 D-Closures Limited (Registered number: 04407777)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

8 D-Closures Limited (Registered number: 04407777)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research is written off in the year in which it is incurred, development costs are capitalised in line with the policy.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset or the lease term (unless it is virtually certain that the asset will be acquired at the end of the lease). The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
Cost
At 1 March 2023 1,833,315
Additions 148,879
At 29 February 2024 1,982,194
Amortisation
At 1 March 2023 1,374,311
Charge for year 269,405
At 29 February 2024 1,643,716
Net book value
At 29 February 2024 338,478
At 28 February 2023 459,004

8 D-Closures Limited (Registered number: 04407777)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1 March 2023 818,660 24,990 843,650
Additions 5,136 - 5,136
At 29 February 2024 823,796 24,990 848,786
Depreciation
At 1 March 2023 364,388 15,106 379,494
Charge for year 45,450 2,471 47,921
At 29 February 2024 409,838 17,577 427,415
Net book value
At 29 February 2024 413,958 7,413 421,371
At 28 February 2023 454,272 9,884 464,156

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 445,768 393,055
Other debtors 145,047 69,545
590,815 462,600

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 101,491 80,952
Hire purchase contracts 59,387 91,885
Trade creditors 306,630 364,273
Taxation and social security 332,766 298,632
Other creditors 360,490 339,491
1,160,764 1,175,233

Hire purchase liabilities are secured over the assets to which they relate.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 76,632 175,062
Hire purchase contracts 193,373 13,946
270,005 189,008

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr - 4,640

8 D-Closures Limited (Registered number: 04407777)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

Hire purchase liabilities are secured over the assets to which they relate.

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Debt factoring account 323,917 280,213
Lloyds bank loan 83,332 99,101
407,249 379,314

The above balances are secured with fixed and floating charges over the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
300 Ordinary A £0.01 3 3
100 Ordinary B £0.01 1 1
4 4

11. OTHER FINANCIAL COMMITMENTS

At 29 February 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £59,198 (2023 - £98,663).

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
T Bland
Balance outstanding at start of year - -
Amounts advanced 192,832 -
Amounts repaid (85,794 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 107,038 -

The above loans have interest charged at the beneficial interest rate of 2% and 2.25% and are repayable on demand.