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Registered number: 09038142
Decoilers And Feeders Ltd.
Unaudited Financial Statements
For The Year Ended 30 April 2024
Karen Wharf Accounting
7 The Lammas
Mundford
Thetford
Norfolk
IP26 5DS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09038142
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 542 542
Tangible Assets 5 16,202 19,061
16,744 19,603
CURRENT ASSETS
Stocks 6 2,300 2,300
Debtors 7 13,017 13,578
Cash at bank and in hand 38,598 45,129
53,915 61,007
Creditors: Amounts Falling Due Within One Year 8 (125,919 ) (78,770 )
NET CURRENT ASSETS (LIABILITIES) (72,004 ) (17,763 )
TOTAL ASSETS LESS CURRENT LIABILITIES (55,260 ) 1,840
Creditors: Amounts Falling Due After More Than One Year 9 (6,511 ) (17,588 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,078 ) (3,621 )
NET LIABILITIES (64,849 ) (19,369 )
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account (64,859 ) (19,379 )
SHAREHOLDERS' FUNDS (64,849) (19,369)
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Brian Neal
Director
30th January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Decoilers And Feeders Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 09038142 . The registered office is 24 The Lammas, Mundford, Thetford, Norfolk, IP26 5DT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 4)
3 4
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 542
As at 30 April 2024 542
Net Book Value
As at 30 April 2024 542
As at 1 May 2023 542
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 May 2023 24,940
As at 30 April 2024 24,940
Depreciation
As at 1 May 2023 5,879
Provided during the period 2,859
As at 30 April 2024 8,738
Net Book Value
As at 30 April 2024 16,202
As at 1 May 2023 19,061
6. Stocks
2024 2023
as restated
£ £
Stock 2,300 2,300
7. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 2,098 2,442
Other debtors 10,919 11,136
13,017 13,578
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Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 41,362 16,306
Bank loans and overdrafts 11,089 16,637
Other creditors 65,803 45,532
Taxation and social security 7,665 295
125,919 78,770
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Bank loans 6,511 17,588
10. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 10 10
Page 5