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REGISTERED NUMBER: 01071471















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

DF RICHARDS (VENEERS) LIMITED

DF RICHARDS (VENEERS) LIMITED (REGISTERED NUMBER: 01071471)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DF RICHARDS (VENEERS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: D F Richards Esq
Mrs C M Richards
D J Richards Esq
A C Richards





SECRETARY: D J Richards Esq





REGISTERED OFFICE: Kingfisher House
Chester Hall Lane
Basildon
Essex
SS14 3DA





REGISTERED NUMBER: 01071471





ACCOUNTANTS: Tish Press & Company
Create Business Hub
Ground Floor
5 Rayleigh Road
Hutton, Brentwood.
Essex
CM13 1AB

DF RICHARDS (VENEERS) LIMITED (REGISTERED NUMBER: 01071471)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,953,338 1,879,506
Investments 5 23,559 23,559
1,976,897 1,903,065

CURRENT ASSETS
Stocks 1,022,214 876,781
Debtors 6 1,588,908 1,516,219
Cash at bank 1,725,314 871,896
4,336,436 3,264,896
CREDITORS
Amounts falling due within one year 7 1,850,324 1,289,428
NET CURRENT ASSETS 2,486,112 1,975,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,463,009

3,878,533

CREDITORS
Amounts falling due after more than one
year

8

892,564

917,700
NET ASSETS 3,570,445 2,960,833

CAPITAL AND RESERVES
Called up share capital 200,007 200,007
Retained earnings 3,370,438 2,760,826
SHAREHOLDERS' FUNDS 3,570,445 2,960,833

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

DF RICHARDS (VENEERS) LIMITED (REGISTERED NUMBER: 01071471)

BALANCE SHEET - continued
30 JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





D F Richards Esq - Director


DF RICHARDS (VENEERS) LIMITED (REGISTERED NUMBER: 01071471)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

DF Richards (Veneers) Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

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

4.2% (2012 - 1.8%) of the company's turnover is attributable to geographical markets outside the United Kingdom.

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 - at varying rates on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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

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

DF RICHARDS (VENEERS) LIMITED (REGISTERED NUMBER: 01071471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

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.

Investments
Investment held as fixed assets are shown at cost less provision for impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 July 2023 1,545,376 - 782,049
Additions - 50,700 72,740
At 30 June 2024 1,545,376 50,700 854,789
DEPRECIATION
At 1 July 2023 - - 456,646
Charge for year - - 74,055
At 30 June 2024 - - 530,701
NET BOOK VALUE
At 30 June 2024 1,545,376 50,700 324,088
At 30 June 2023 1,545,376 - 325,403

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 July 2023 14,678 27,379 34,972 2,404,454
Additions 25,145 - - 148,585
At 30 June 2024 39,823 27,379 34,972 2,553,039
DEPRECIATION
At 1 July 2023 14,678 27,379 26,245 524,948
Charge for year - - 698 74,753
At 30 June 2024 14,678 27,379 26,943 599,701
NET BOOK VALUE
At 30 June 2024 25,145 - 8,029 1,953,338
At 30 June 2023 - - 8,727 1,879,506

DF RICHARDS (VENEERS) LIMITED (REGISTERED NUMBER: 01071471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 June 2024 is represented by:

Improvements
Freehold Long to Plant and
property leasehold property machinery
£    £    £    £   
Valuation in 2014 - - - (234,241 )

Valuation in 2021 - (37,338 ) - -
Cost 1,545,376 37,338 50,700 1,089,030
1,545,376 - 50,700 854,789

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2014 6,688 - - (227,553 )
Valuation in 2020 3,500 - - 3,500
Valuation in 2021 - - - (37,338 )
Cost 29,635 27,379 34,972 2,814,430
39,823 27,379 34,972 2,553,039

If Plant, machinery and fixtures had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 780,249 780,249
Aggregate depreciation 456,646 456,646

Plant, machinery and fixtures were valued on an open market basis on 30 June 2023 by the directors. .

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 120,000
PROVISIONS
At 1 July 2023
and 30 June 2024 96,441
NET BOOK VALUE
At 30 June 2024 23,559
At 30 June 2023 23,559

DF RICHARDS (VENEERS) LIMITED (REGISTERED NUMBER: 01071471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,482,971 1,306,329
Other debtors 105,937 209,890
1,588,908 1,516,219

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 802,934 538,243
Amounts owed to group undertakings 7,784 17,784
Tax 298,556 190,519
Social security and other taxes 30,183 39,649
VAT 323,356 304,781
Other creditors 172,084 81,620
Accruals and deferred income 73,256 -
Accrued expenses 142,171 116,832
1,850,324 1,289,428

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans more 5yrs instal 892,564 917,700

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 892,564 917,700

9. RELATED PARTY DISCLOSURES

The company had the following related party transactions within its group companies:


2024 2023
£ £

Management fees received - -
Sales - -
Purchases - -
Amounts owed to the parent company 17,784 17,784


At the year end the company owed its parent company £17,784.

10. ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

The company is a 100% owned subsidiary of Surface Products Limited. The company's ultimate controller is D F Richards Esq.