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Company Registration No. 01129165 (England and Wales)
D. & C. Mobile Welding Engineers Limited ANNUAL REPORT AND UNAUDITED ACCOUNTS for the year ended 31 May 2024
D. & C. Mobile Welding Engineers Limited ANNUAL REPORT AND UNAUDITED ACCOUNTS Contents
Page
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D. & C. Mobile Welding Engineers Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
602,778 
551,469 
Current assets
Inventories
699,990 
493,557 
Debtors
1,463,069 
1,154,255 
Cash at bank and in hand
324,694 
635,826 
2,487,753 
2,283,638 
Creditors: amounts falling due within one year
(1,397,533)
(1,305,488)
Net current assets
1,090,220 
978,150 
Total assets less current liabilities
1,692,998 
1,529,619 
Creditors: amounts falling due after more than one year
(146,004)
(107,194)
Provisions for liabilities
Deferred tax
(138,949)
(107,419)
Net assets
1,408,045 
1,315,006 
Capital and reserves
Called up share capital
540 
540 
Profit and loss account
1,407,505 
1,314,466 
Shareholders' funds
1,408,045 
1,315,006 
For the year ending 31 May 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 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 of Directors and authorised for issue on 7 November 2024 and were signed on its behalf by
Mr G W Chatterley Director Company Registration No. 01129165
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D. & C. Mobile Welding Engineers Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
D. & C. Mobile Welding Engineers Limited is a private company, limited by shares, registered in England and Wales, registration number 01129165. The registered office is Unit 1 Mariner, Coton Farm Industrial Est, Lichfield Roa, Tamworth, Staffs, B79 7UL.
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.
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
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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 is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
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D. & C. Mobile Welding Engineers Limited Notes to the Accounts for the year ended 31 May 2024
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 June 2023
307,000 
At 31 May 2024
307,000 
Amortisation
At 1 June 2023
307,000 
At 31 May 2024
307,000 
Net book value
At 31 May 2024
- 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
930,021 
645,507 
1,575,528 
Additions
- 
259,824 
259,824 
Disposals
- 
(172,296)
(172,296)
At 31 May 2024
930,021 
733,035 
1,663,056 
Depreciation
At 1 June 2023
602,683 
421,376 
1,024,059 
Charge for the year
49,104 
108,308 
157,412 
On disposals
- 
(121,193)
(121,193)
At 31 May 2024
651,787 
408,491 
1,060,278 
Net book value
At 31 May 2024
278,234 
324,544 
602,778 
At 31 May 2023
327,338 
224,131 
551,469 
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D. & C. Mobile Welding Engineers Limited Notes to the Accounts for the year ended 31 May 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,462,194 
1,154,255 
Other debtors
875 
- 
1,463,069 
1,154,255 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
144,795 
283,541 
Obligations under finance leases and hire purchase contracts
143,099 
117,161 
Trade creditors
956,882 
741,697 
Taxes and social security
146,657 
149,856 
Other creditors
2,425 
2,892 
Loans from directors
- 
621 
Accruals
3,675 
9,720 
1,397,533 
1,305,488 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
146,004 
107,194 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
540 Ordinary shares of £1 each
540 
540 
10
Average number of employees
During the year the average number of employees was 42 (2023: 42).
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