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Registered number: 04839227
DJ & M Bower Tarmac Surfacing Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton In Ashfield
Nottinghamshire
NG17 4EA
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Mr David Bower
Mrs Michelle Bower
Secretary Mrs Michelle Bower
Company Number 04839227
Registered Office Alexandra House
123 Priestsic Road
Sutton In Ashfield
Nottinghamshire
NG17 4EA
Accountants Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton In Ashfield
Nottinghamshire
NG17 4EA
Page 1
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Statement of Financial Position
Registered number: 04839227
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,500 23,681
17,500 23,681
CURRENT ASSETS
Stocks 5 - 8,580
Debtors 6 52,559 41,484
Cash at bank and in hand 20,314 19,558
72,873 69,622
Creditors: Amounts Falling Due Within One Year 7 (47,126 ) (52,142 )
NET CURRENT ASSETS (LIABILITIES) 25,747 17,480
TOTAL ASSETS LESS CURRENT LIABILITIES 43,247 41,161
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,325 ) (4,499 )
NET ASSETS 39,922 36,662
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 39,822 36,562
SHAREHOLDERS' FUNDS 39,922 36,662
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For the year ending 31 July 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr David Bower
Director
13/01/2025
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
DJ & M Bower Tarmac Surfacing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04839227 . The registered office is Alexandra House, 123 Priestsic Road, Sutton In Ashfield, Nottinghamshire, NG17 4EA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Taxation expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 August 2023 29,262 38,927 2,834 71,023
As at 31 July 2024 29,262 38,927 2,834 71,023
Depreciation
As at 1 August 2023 26,591 18,342 2,409 47,342
Provided during the period 814 5,146 221 6,181
As at 31 July 2024 27,405 23,488 2,630 53,523
Net Book Value
As at 31 July 2024 1,857 15,439 204 17,500
As at 1 August 2023 2,671 20,585 425 23,681
5. Stocks
2024 2023
£ £
Work in progress - 8,580
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 33,772 18,906
Other debtors 18,787 22,578
52,559 41,484
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 321 24,080
Bank loans and overdrafts 13,784 -
Other creditors 12,907 18,792
Taxation and social security 20,114 9,270
47,126 52,142
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
At the balance sheet date, the directors were owed £8,764 (2023: £14,736) by the company.
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