D.C. ELECTRONICS MOTORSPORT SPECIALIST LIMITED

Company Registration Number:
03673760 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2024

Period of accounts

Start date: 01 July 2023

End date: 30 June 2024

D.C. ELECTRONICS MOTORSPORT SPECIALIST LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2024

Balance sheet
Notes

D.C. ELECTRONICS MOTORSPORT SPECIALIST LIMITED

Balance sheet

As at 30 June 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 37,445 31,790
Investments: 4 77 77
Total fixed assets: 37,522 31,867
Current assets
Stocks: 191,315 174,000
Debtors: 5 282,016 367,066
Cash at bank and in hand: 124,067 161,645
Total current assets: 597,398 702,711
Creditors: amounts falling due within one year:   (175,005) (224,833)
Net current assets (liabilities): 422,393 477,878
Total assets less current liabilities: 459,915 509,745
Creditors: amounts falling due after more than one year:   (2,238) (6,072)
Provision for liabilities: (6,477) (6,003)
Total net assets (liabilities): 451,200 497,670
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 451,198 497,668
Shareholders funds: 451,200 497,670

The notes form part of these financial statements

D.C. ELECTRONICS MOTORSPORT SPECIALIST LIMITED

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 10 February 2025
and signed on behalf of the board by:

Name: D Cunliffe
Status: Director

The notes form part of these financial statements

D.C. ELECTRONICS MOTORSPORT SPECIALIST LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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.

Tangible fixed assets and depreciation policy

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 25 % Reducing Balance Motor Vehicles 20 % Reducing Balance

Other accounting policies

Leasing and Hire Purchase Contracts Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred. 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. Foreign Currencies Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

D.C. ELECTRONICS MOTORSPORT SPECIALIST LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

2. Employees

2024 2023
Average number of employees during the period 5 5

D.C. ELECTRONICS MOTORSPORT SPECIALIST LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible Assets

Total
Cost £
At 01 July 2023 79,717
Additions 14,817
Disposals (14,966)
At 30 June 2024 79,568
Depreciation
At 01 July 2023 47,927
Charge for year 9,162
On disposals (14,966)
At 30 June 2024 42,123
Net book value
At 30 June 2024 37,445
At 30 June 2023 31,790

D.C. ELECTRONICS MOTORSPORT SPECIALIST LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Fixed investments

Investment in Subsidiaries 2024 £77, 2023 £77

D.C. ELECTRONICS MOTORSPORT SPECIALIST LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Debtors

2024 2023
££
Debtors due after more than one year: 0 1,490

D.C. ELECTRONICS MOTORSPORT SPECIALIST LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

6. Financial commitments

Obligations Under Finance Leases and Hire Purchase The future minimum finance lease payments are as follows: Not later than one year 2024 - £3,835 2023 - £3,835 Later than one year and not later than five years 2024 - £2,238 2023 - £6,072 Total 2024 - £6,073 2023 - £9,907 Other Commitments The total of future minimum lease payments under non-cancellable operating leases are as following: Not later than one year: 2024 - £Nil 2023 - £30,000 Later than one year and not later than five years 2024 - £15,000 2023 - £Nil

D.C. ELECTRONICS MOTORSPORT SPECIALIST LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

7. Loans to directors

At the year end, the company owed Mr and Mrs Cunliffe £39,306 (2023: £4,000) in respect of their loan account.

D.C. ELECTRONICS MOTORSPORT SPECIALIST LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

8. Related party transactions

Mr and Mrs Cunliffe are also directors of DCE inc., a wholly owned subsidiary. At the balance sheet date, the company had outstanding loans of £259,701 (2023: £339,684) from DCE Inc.