5 false false false false false false false false false false true false false false false false false No description of principal activity 2023-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 3842532 2023-11-01 2024-10-31 3842532 2024-10-31 3842532 2023-10-31 3842532 2022-11-01 2023-10-31 3842532 2023-10-31 3842532 2022-10-31 3842532 core:PlantMachinery 2023-11-01 2024-10-31 3842532 core:FurnitureFittings 2023-11-01 2024-10-31 3842532 core:MotorVehicles 2023-11-01 2024-10-31 3842532 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 3842532 bus:Director3 2023-11-01 2024-10-31 3842532 bus:Director4 2023-11-01 2024-10-31 3842532 core:LandBuildings 2023-10-31 3842532 core:PlantMachinery 2023-10-31 3842532 core:FurnitureFittings 2023-10-31 3842532 core:MotorVehicles 2023-10-31 3842532 core:LandBuildings 2024-10-31 3842532 core:PlantMachinery 2024-10-31 3842532 core:FurnitureFittings 2024-10-31 3842532 core:MotorVehicles 2024-10-31 3842532 core:WithinOneYear 2024-10-31 3842532 core:WithinOneYear 2023-10-31 3842532 core:AfterOneYear 2024-10-31 3842532 core:AfterOneYear 2023-10-31 3842532 core:UKTax 2023-11-01 2024-10-31 3842532 core:UKTax 2022-11-01 2023-10-31 3842532 core:ShareCapital 2024-10-31 3842532 core:ShareCapital 2023-10-31 3842532 core:CapitalRedemptionReserve 2024-10-31 3842532 core:CapitalRedemptionReserve 2023-10-31 3842532 core:RetainedEarningsAccumulatedLosses 2024-10-31 3842532 core:RetainedEarningsAccumulatedLosses 2023-10-31 3842532 core:LandBuildings 2023-10-31 3842532 core:PlantMachinery 2023-10-31 3842532 core:FurnitureFittings 2023-10-31 3842532 core:MotorVehicles 2023-10-31 3842532 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2023-10-31 3842532 bus:SmallEntities 2023-11-01 2024-10-31 3842532 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 3842532 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 3842532 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 3842532 bus:FullAccounts 2023-11-01 2024-10-31 3842532 bus:OrdinaryShareClass1 2024-10-31 3842532 bus:OrdinaryShareClass1 2023-10-31
COMPANY REGISTRATION NUMBER: 3842532
DSR Batteries & Electrical Limited
Filleted Unaudited Financial Statements
31 October 2024
DSR Batteries & Electrical Limited
Financial Statements
Year ended 31 October 2024
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
DSR Batteries & Electrical Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
98,245
115,521
Current assets
Stocks
82,007
74,651
Debtors
7
72,198
85,319
Cash at bank and in hand
111,974
125,206
---------
---------
266,179
285,176
Creditors: amounts falling due within one year
8
( 119,850)
( 134,687)
---------
---------
Net current assets
146,329
150,489
---------
---------
Total assets less current liabilities
244,574
266,010
Creditors: amounts falling due after more than one year
9
( 31,449)
( 38,502)
---------
---------
Net assets
213,125
227,508
---------
---------
Capital and reserves
Called up share capital
10
4
4
Capital redemption reserve
4
4
Profit and loss account
213,117
227,500
---------
---------
Shareholders funds
213,125
227,508
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DSR Batteries & Electrical Limited
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 8 February 2025 , and are signed on behalf of the board by:
SO Price
GM Price
Director
Director
Company registration number: 3842532
DSR Batteries & Electrical Limited
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ellis Avenue, Haverfordwest, Pembrokeshire, SA61 1NU.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery
-
15% reducing balance
Fixtures & fittings
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
20% reducing balance
No depreciation is to be provided on Property.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Tax on profit
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
8,491
7,539
-------
-------
Tax on profit
8,491
7,539
-------
-------
6. Tangible assets
Property
Plant & machinery
Fixtures & fittings
Motor vehicles
Office equipment
Total
£
£
£
£
£
£
Cost
At 1 Nov 2023
93,708
8,493
2,142
64,550
10,742
179,635
Disposals
( 37,900)
( 37,900)
--------
-------
-------
--------
--------
---------
At 31 Oct 2024
93,708
8,493
2,142
26,650
10,742
141,735
--------
-------
-------
--------
--------
---------
Depreciation
At 1 Nov 2023
7,343
1,470
44,937
10,364
64,114
Charge for the year
172
134
906
75
1,287
Disposals
( 21,911)
( 21,911)
--------
-------
-------
--------
--------
---------
At 31 Oct 2024
7,515
1,604
23,932
10,439
43,490
--------
-------
-------
--------
--------
---------
Carrying amount
At 31 Oct 2024
93,708
978
538
2,718
303
98,245
--------
-------
-------
--------
--------
---------
At 31 Oct 2023
93,708
1,150
672
19,613
378
115,521
--------
-------
-------
--------
--------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 31 October 2024
----
At 31 October 2023
15,989
--------
7. Debtors
2024
2023
£
£
Trade debtors
71,494
84,608
Other debtors
704
711
--------
--------
72,198
85,319
--------
--------
Other debtors include an amount of £Nil (2023 - £Nil) falling due after more than one year.
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts (secured)
6,848
6,642
Trade creditors
89,855
102,491
Hire purchase agreements (secured)
2,999
Corporation tax
8,430
7,511
Social security and other taxes
10,621
11,312
Other creditors
4,096
3,732
---------
---------
119,850
134,687
---------
---------
HSBC UK Bank PLC hold a fixed and floating charge over all assets of the company.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts (secured)
31,449
38,502
--------
--------
10. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
4
4
4
4
----
----
----
----
11. Related party transactions
The company was under the control of Mr SM Price and his wife throughout the current and previous year by virtue of their combined interest in 100% (2023 - 100%) of the company's issued ordinary share capital. During the year the company paid dividends totalling £50,900 (2023 - £27,800) to the shareholders.