Registered number
03078145
De-ath Bros Ltd
Filleted Accounts
31 July 2024
De-ath Bros Ltd
Registered number: 03078145
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 603,887 540,426
Current assets
Stocks 3,246,881 586,128
Debtors 4 2,092,622 2,454,183
Cash at bank and in hand 10,843 26,641
5,350,346 3,066,952
Creditors: amounts falling due within one year 5 (4,841,113) (2,570,769)
Net current assets 509,233 496,183
Total assets less current liabilities 1,113,120 1,036,609
Creditors: amounts falling due after more than one year 6 (191,709) (149,140)
Provisions for liabilities (113,648) (118,018)
Net assets 807,763 769,451
Capital and reserves
Called up share capital 200 200
Profit and loss account 807,563 769,251
Shareholders' funds 807,763 769,451
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N De'Ath
Director
Approved by the board on 13 January 2025
De-ath Bros Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 1,189,863 293,389 1,483,252
Additions 8,356 164,066 172,422
At 31 July 2024 1,198,219 457,455 1,655,674
Depreciation
At 1 August 2023 712,952 229,874 942,826
Charge for the year 75,958 33,003 108,961
At 31 July 2024 788,910 262,877 1,051,787
Net book value
At 31 July 2024 409,309 194,578 603,887
At 31 July 2023 476,911 63,515 540,426
4 Debtors 2024 2023
£ £
Trade debtors 1,560,224 1,853,297
Amounts owed by group undertakings and undertakings in which the company has a participating interest (9,800) 22,700
Customs & Excise 542,198 578,186
2,092,622 2,454,183
5 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 9,180 7,280
Bank loans and overdrafts 290,075 355,802
Obligations under finance lease and hire purchase contracts 79,912 48,860
Company credit card 337,847 -
Trade creditors 3,735,431 2,012,319
Corporation tax 121,546 65,225
Director's loan account 214,461 70,408
PAYE & NI 51,316 9,980
Pensions 1,345 895
4,841,113 2,570,769
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 191,709 149,140
7 Other information
De-ath Bros Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 Royal Terrace
Southend-on-Sea
Essex
SS1 1EA
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