Registered number
08340219
DGM Joinery Limited
Filleted Accounts
30 April 2024
DGM Joinery Limited
Registered number: 08340219
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 37,956 45,857
Current assets
Stocks 31,000 31,000
Debtors 4 32,031 24,352
Cash at bank and in hand 14,443 6,093
77,474 61,445
Creditors: amounts falling due within one year 5 (73,636) (61,446)
Net current assets/(liabilities) 3,838 (1)
Total assets less current liabilities 41,794 45,856
Creditors: amounts falling due after more than one year 6 (41,643) (45,723)
Net assets 151 133
Capital and reserves
Called up share capital 100 100
Profit and loss account 51 33
Shareholders' funds 151 133
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G Grange
Director
Approved by the board on 30 January 2025
DGM Joinery Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 53,632 33,319 86,951
Additions 192 - 192
At 30 April 2024 53,824 33,319 87,143
Depreciation
At 1 May 2023 31,895 9,199 41,094
Charge for the year 4,475 3,618 8,093
At 30 April 2024 36,370 12,817 49,187
Net book value
At 30 April 2024 17,454 20,502 37,956
At 30 April 2023 21,737 24,120 45,857
4 Debtors 2024 2023
£ £
Trade debtors 2,509 9,174
Other debtors 29,522 15,178
32,031 24,352
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,921 11,413
Obligations under finance lease and hire purchase contracts 8,222 10,934
Trade creditors 30,513 21,983
Taxation and social security costs 18,180 16,317
Other creditors 5,800 799
73,636 61,446
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 30,416 30,416
Obligations under finance lease and hire purchase contracts 11,227 15,307
41,643 45,723
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr G Grange
Loan 1 3,375 6,950 (3,375) 6,950
Mrs E Grange
Loan 1 3,375 6,950 (3,375) 6,950
Mr S Chapman
Loan 1 3,375 6,950 (3,375) 6,950
Mrs R Chapman
Loan 1 3,375 6,950 (3,375) 6,950
13,500 27,800 (13,500) 27,800
8 Other information
DGM Joinery Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Barns
Linden Roan
Clenchwarton
Kings Lynn
PE30 3JR
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