Company registration number 14046766 (England and Wales)
DJC MECHANICAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
DJC MECHANICAL LIMITED
COMPANY INFORMATION
Directors
Mr D J Cerrone
Miss L E Terry-Hawkins
Company number
14046766
Registered office
90 Cockshute Hill
Droitwich
Worcestershire
WR9 7QP
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Starling Bank
5th Floor
London Fruit and Wool Exchange
1 Duval Square
London
E1 6PW
DJC MECHANICAL LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
DJC MECHANICAL LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DJC MECHANICAL LIMITED FOR THE YEAR ENDED 29 APRIL 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DJC Mechanical Limited for the year ended 29 April 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of DJC Mechanical Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of DJC Mechanical Limited and state those matters that we have agreed to state to the board of directors of DJC Mechanical Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DJC Mechanical Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that DJC Mechanical Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of DJC Mechanical Limited. You consider that DJC Mechanical Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of DJC Mechanical Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
26 November 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
DJC MECHANICAL LIMITED
BALANCE SHEET
AS AT 29 APRIL 2024
29 April 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
110,807
107,113
Current assets
Stocks
470,000
176,000
Debtors
4
118,336
46,428
Cash at bank and in hand
7,858
26,869
596,194
249,297
Creditors: amounts falling due within one year
5
(408,068)
(192,986)
Net current assets
188,126
56,311
Total assets less current liabilities
298,933
163,424
Creditors: amounts falling due after more than one year
6
(30,212)
(23,698)
Provisions for liabilities
8
(27,686)
(11,604)
Net assets
241,035
128,122
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
240,935
128,022
Total equity
241,035
128,122
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 29 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
DJC MECHANICAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT 29 APRIL 2024
29 April 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 26 November 2024 and are signed on its behalf by:
Mr D J Cerrone
Director
Company registration number 14046766 (England and Wales)
DJC MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024
- 4 -
1
Accounting policies
Company information
DJC Mechanical Limited is a private company limited by shares incorporated in England and Wales. The registered office is 90 Cockshute Hill, Droitwich, Worcestershire, United Kingdom, WR9 7QP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
20% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
DJC MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
2
DJC MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 APRIL 2024
- 6 -
3
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 30 April 2023
15,407
97,495
112,902
Additions
39,808
39,808
At 29 April 2024
15,407
137,303
152,710
Depreciation and impairment
At 30 April 2023
3,081
2,708
5,789
Depreciation charged in the year
2,465
33,649
36,114
At 29 April 2024
5,546
36,357
41,903
Carrying amount
At 29 April 2024
9,861
100,946
110,807
At 29 April 2023
12,326
94,787
107,113
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
116,473
Other debtors
1,863
46,428
118,336
46,428
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
82,662
30,731
Taxation and social security
154,387
12,122
Other creditors
171,019
150,133
408,068
192,986
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
30,212
23,698
DJC MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 APRIL 2024
- 7 -
7
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Hire purchase contracts
40,266
31,823
Hire purchase contracts are secured against the assets to which they relate.
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
27,686
11,604
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
90
90
90
90
Ordinary B of £1 each
10
10
10
10
100
100
100
100
10
Ultimate controlling party
The ultimate controlling party is Mr D J Cerrone.