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Registration number: 10495762

Complete Doorset Solutions Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2024

 

Complete Doorset Solutions Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

Detailed Profit and Loss Account

10 to 12

 

Complete Doorset Solutions Limited

Company Information

Director

AS Ruprai

Registered office

Unit 6 Salbrook Road Industrial Estate
Salfords
Redhill
Surrey
RH1 5GJ

Accountants

Kishens Limited
Chartered Accountants
13 Montpelier Avenue
Bexley
Kent
DA5 3AP

 

Complete Doorset Solutions Limited

(Registration number: 10495762)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

274,887

238,628

Current assets

 

Stocks

5

700,000

655,000

Debtors

1,249,229

1,174,407

Cash at bank and in hand

 

87,466

98,952

 

2,036,695

1,928,359

Creditors: Amounts falling due within one year

6.1

(1,628,190)

(1,445,411)

Net current assets

 

408,505

482,948

Total assets less current liabilities

 

683,392

721,576

Creditors: Amounts falling due after more than one year

6.2

(263,527)

(296,065)

Provisions for liabilities

(45,505)

-

Accruals and deferred income

 

(2,100)

(7,000)

Net assets

 

372,260

418,511

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

372,160

418,411

Shareholders' funds

 

372,260

418,511

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Complete Doorset Solutions Limited

(Registration number: 10495762)
Abridged Balance Sheet as at 31 May 2024

Approved and authorised by the director on 18 January 2025
 

.........................................
AS Ruprai
Director

 

Complete Doorset Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 6 Salbrook Road Industrial Estate
Salfords
Redhill
Surrey
RH1 5GJ
England

These financial statements were authorised for issue by the director on 18 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods or on completion of the designated services;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Complete Doorset Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Complete Doorset Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Complete Doorset Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 17 (2023 - 18).

 

Complete Doorset Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

4

Tangible Assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

31,388

514,240

545,628

Additions

-

84,769

84,769

At 31 May 2024

31,388

599,009

630,397

Depreciation

At 1 June 2023

10,856

296,144

307,000

Charge for the year

3,519

44,991

48,510

At 31 May 2024

14,375

341,135

355,510

Carrying amount

At 31 May 2024

17,013

257,874

274,887

At 31 May 2023

20,532

218,096

238,628

5

Stocks

2024
£

2023
£

Work in progress

700,000

655,000

6

Creditors

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £27,832 (2023 - £31,297).

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £53,527 (2023 - £13,645).

 

Complete Doorset Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Parent and ultimate parent undertaking

The ultimate controlling party is the director.

 

Complete Doorset Solutions Limited

Detailed Profit and Loss Account for the Year Ended 31 May 2024

2024
£

2023
£

Turnover (analysed below)

3,591,945

3,811,809

Cost of sales (analysed below)

(2,527,950)

(2,873,840)

Gross profit

1,063,995

937,969

Gross profit (%)

29.62%

24.61%

Administrative expenses

General administrative expenses (analysed below)

(1,031,458)

(902,543)

Operating profit

32,537

35,426

Interest payable and similar expenses (analysed below)

(33,283)

(32,612)

(Loss)/profit before tax

(746)

2,814

 

Complete Doorset Solutions Limited

Detailed Profit and Loss Account for the Year Ended 31 May 2024

2024
£

2023
£

   

Turnover

Sale of goods, UK

3,591,945

3,811,809

   

Cost of sales

Opening work in progress

655,000

400,000

Purchases

2,444,279

2,971,423

Direct costs

128,671

154,428

Closing work in progress

(700,000)

(655,000)

Subcontract cost

-

2,989

2,527,950

2,873,840

   

General administrative expenses

Wages and salaries (excluding directors)

517,631

455,977

Staff NIC (Employers)

46,489

36,740

Staff pensions (Defined contribution)

25,199

23,658

Rent

60,236

62,800

Rates

22,007

16,487

Light, heat and power

2,235

2,449

Insurance

33,218

37,917

Repairs and maintenance

9,098

6,010

Telephone and fax

506

690

Computer software and maintenance costs

29,725

23,501

Printing, postage and stationery

3,691

8,712

Trade subscriptions

11,549

12,845

Charitable donations

300

100

Hire of other assets (Spot hire)

17,906

14,670

Sundry expenses

1,150

375

Cleaning

4,002

2,985

Motor expenses

6,075

7,638

Car hire and leasing expenses (Spot hire)

47,960

30,365

Travel and subsistence

3,156

2,404

Customer entertaining (disallowable for tax)

1,535

3,475

Accountancy fees

2,100

2,900

Legal and professional fees

90,511

66,446

Bank charges

46,669

41,289

Depreciation of plant and machinery (owned)

44,991

38,487

Depreciation of fixtures and fittings (owned)

3,519

3,623

1,031,458

902,543

 

Complete Doorset Solutions Limited

Detailed Profit and Loss Account for the Year Ended 31 May 2024

2024
£

2023
£

   

Interest payable and similar expenses

Bank loan interest payable

26,838

26,453

Hire purchase interest

6,360

6,159

Interest on overdue taxation

85

-

33,283

32,612