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REGISTERED NUMBER: 02784145 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

D M & C ASH LIMITED

D M & C ASH LIMITED (REGISTERED NUMBER: 02784145)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


D M & C ASH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: D M Ash
C Ash
I A Wallace
S R Jones
P C Sumpter
S Ash





SECRETARY: C Ash





REGISTERED OFFICE: Unit 1
Ghyll Road Industrial Estate
Heathfield
East Sussex
TN21 8AW





REGISTERED NUMBER: 02784145 (England and Wales)





AUDITORS: Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

D M & C ASH LIMITED (REGISTERED NUMBER: 02784145)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 60 101
Tangible assets 5 198,542 165,920
198,602 166,021

CURRENT ASSETS
Stocks 159,896 294,100
Debtors 6 3,915,720 4,282,058
Cash at bank 529,780 397,669
4,605,396 4,973,827
CREDITORS
Amounts falling due within one year 7 (2,518,433 ) (3,067,820 )
NET CURRENT ASSETS 2,086,963 1,906,007
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,285,565

2,072,028

CREDITORS
Amounts falling due after more than one
year

8

-

(122,668

)

PROVISIONS FOR LIABILITIES 11 (42,133 ) (33,398 )
NET ASSETS 2,243,432 1,915,962

CAPITAL AND RESERVES
Called up share capital 12 103 103
Retained earnings 2,243,329 1,915,859
SHAREHOLDERS' FUNDS 2,243,432 1,915,962

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 Statement of Comprehensive Income 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 M Ash - Director


D M & C ASH LIMITED (REGISTERED NUMBER: 02784145)

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

1. STATUTORY INFORMATION

D M & C Ash Limited is a private company, limited by shares , registered in England and Wales. 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Long term contracts are included within turnover on the basis of the sales value of work performed during the year. The sales value is recognised as the certified value of measured works, claims and variations on contracts in the year. Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including the profit and loss account turnover and related costs as contract activity progresses.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1995, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

D M & C ASH LIMITED (REGISTERED NUMBER: 02784145)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

D M & C ASH LIMITED (REGISTERED NUMBER: 02784145)

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

2. ACCOUNTING POLICIES - continued

Long term contracts
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors a payments on account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 10,002 199 10,201
AMORTISATION
At 1 May 2023 10,001 99 10,100
Amortisation for year 1 40 41
At 30 April 2024 10,002 139 10,141
NET BOOK VALUE
At 30 April 2024 - 60 60
At 30 April 2023 1 100 101

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 438,455 199,416 270,026 907,897
Additions 2,256 9,094 101,197 112,547
Disposals - - (61,866 ) (61,866 )
At 30 April 2024 440,711 208,510 309,357 958,578
DEPRECIATION
At 1 May 2023 379,680 168,499 193,798 741,977
Charge for year 15,180 8,769 26,961 50,910
Eliminated on disposal - - (32,851 ) (32,851 )
At 30 April 2024 394,860 177,268 187,908 760,036
NET BOOK VALUE
At 30 April 2024 45,851 31,242 121,449 198,542
At 30 April 2023 58,775 30,917 76,228 165,920

D M & C ASH LIMITED (REGISTERED NUMBER: 02784145)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 41,985
Disposals (13,995 )
At 30 April 2024 27,990
DEPRECIATION
At 1 May 2023 14,432
Charge for year 5,167
Eliminated on disposal (5,385 )
At 30 April 2024 14,214
NET BOOK VALUE
At 30 April 2024 13,776
At 30 April 2023 27,553

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 657,370 688,547
Amounts owed by group undertakings 1,596,048 1,690,417
Amounts recoverable on contract 947,715 1,127,604
Other debtors 191,417 255,330
3,392,550 3,761,898

Amounts falling due after more than one year:
Trade debtors 523,170 520,160

Aggregate amounts 3,915,720 4,282,058

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 50,000
Hire purchase contracts (see note 9) 6,754 13,057
Trade creditors 1,376,830 1,780,901
Taxation and social security 321,260 209,338
Other creditors 813,589 1,014,524
2,518,433 3,067,820

D M & C ASH LIMITED (REGISTERED NUMBER: 02784145)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 112,500
Hire purchase contracts (see note 9) - 10,168
- 122,668

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 6,754 13,057
Between one and five years - 10,168
6,754 23,225

Non-cancellable operating leases
2024 2023
£    £   
Within one year 87,000 87,000
Between one and five years 348,000 348,000
In more than five years 43,500 130,500
478,500 565,500

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 162,500

Bank overdraft secured by an unscheduled mortgage debenture dated 1 August 2011 incorporating a fixed and floating charge over all current and future assets of the company. Further security provided on bank borrowings by a unlimited multilateral guarantee dated 20 July 2011 given by D M & C Ash Limited and Ash Drywall Limited.In addition an unlimited multilateral guarantee dated 29 October 2019 is given by DMCA Developments, D M & C Ash Limited and Ash Drywall Limited. These bank borrowings have been repaid in full during the current year.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 42,133 33,398

D M & C ASH LIMITED (REGISTERED NUMBER: 02784145)

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

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2023 33,398
Charge to Income Statement during year 8,735
Balance at 30 April 2024 42,133

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 'A' £1 100 100
1 Ordinary 'B' £1 1 1
1 Ordinary 'C' £1 1 1
1 Ordinary 'D' £1 1 1
103 103

The 'B', 'C' and 'D' shares do not have voting rights or rights to any distribution on winding up but rank pari passu with the ordinary 'A' shares in all other respects.

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen James Moore (Senior Statutory Auditor)
for and on behalf of Watson Associates (Audit Services) Ltd

14. RELATED PARTY DISCLOSURES

During the year the company had the following dealings with related parties:

Ash Holdings Limited, a company owned and controlled 50% by Mr D M Ash and Mrs C Ash
- Purchases of £nil (2023 - £(5,086))
- Sales of £79,414 (2023 - £131,801)

An amount of £nil (2023 - £nil) was due to the company at the balance sheet date.

DMCA Developments Limited, a company beneficially owned and controlled by Mr D M Ash and Mrs C Ash
- Rent and insurance charged by DMCA Developments of £109,119 (2023: £89,798)

An amount of £364,250 (2023 - £364,250) was due to the company at the balance sheet date.

15. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

16. ULTIMATE CONTROLLING PARTY

The company is controlled by Ash Drywall Limited who own 100% of the issued share capital. Ash Drywall Limited is owned 83.02% by Mr D M Ash.