Registered number
07241288
DOVELIN CARS LIMITED
Filleted Accounts
31 May 2024
DOVELIN CARS LIMITED
Registered number: 07241288
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 30,240 24,512
Current assets
Debtors 4 45,800 55,730
Cash at bank and in hand 145 1,517
45,945 57,247
Creditors: amounts falling due within one year 5 (33,285) (41,319)
Net current assets 12,660 15,928
Total assets less current liabilities 42,900 40,440
Creditors: amounts falling due after more than one year 6 (75,247) (74,457)
Net liabilities (32,347) (34,017)
Capital and reserves
Called up share capital 10 10
Profit and loss account (32,357) (34,027)
Shareholder's funds (32,347) (34,017)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
K McCartin
Director
Approved by the board on 20 February 2025
DOVELIN CARS LIMITED
Notes to the Accounts
for the year ended 31 May 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:
Motor vehicles 25% RBM
Fixtures, fittings, tools and equipment 25% RBM
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 15
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 14,124 89,308 103,432
Additions 105 21,813 21,918
Disposals - (35,568) (35,568)
At 31 May 2024 14,229 75,553 89,782
Depreciation
At 1 June 2023 9,588 69,332 78,920
Charge for the year 1,160 8,920 10,080
On disposals - (29,458) (29,458)
At 31 May 2024 10,748 48,794 59,542
Net book value
At 31 May 2024 3,481 26,759 30,240
At 31 May 2023 4,536 19,976 24,512
4 Debtors 2024 2023
£ £
Trade debtors 20,145 15,975
Other debtors 25,655 39,755
45,800 55,730
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 15,234 12,432
Obligations under finance lease and hire purchase contracts 4,667 2,100
Trade creditors 1,841 1,062
Taxation and social security costs 4,542 4,085
Other creditors 7,001 21,640
33,285 41,319
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 58,887 69,867
Obligations under finance lease and hire purchase contracts 13,145 175
Other creditors 3,215 4,415
75,247 74,457
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
K McCartin
Directors Loan Account (15,890) 52,744 (30,032) 6,822
(15,890) 52,744 (30,032) 6,822
8 Controlling party
The company is controlled by the company director by virtue of her shareholding.
9 Other information
DOVELIN CARS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
The Bungalow
Hall Drive
Doveridge
Ashbourne
DE6 5NL
DOVELIN CARS LIMITED 07241288 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 K McCartin No description of principal activity 07241288 2022-06-01 2023-05-31 07241288 core:WithinOneYear 2023-05-31 07241288 core:AfterOneYear 2023-05-31 07241288 core:ShareCapital 2023-05-31 07241288 core:RetainedEarningsAccumulatedLosses 2023-05-31 07241288 2023-06-01 2024-05-31 07241288 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07241288 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 07241288 bus:Director40 2023-06-01 2024-05-31 07241288 1 2023-06-01 2024-05-31 07241288 2 2023-06-01 2024-05-31 07241288 core:PlantMachinery 2023-06-01 2024-05-31 07241288 core:Vehicles 2023-06-01 2024-05-31 07241288 bus:Director1 2023-06-01 2024-05-31 07241288 bus:Director1 1 2023-06-01 2024-05-31 07241288 countries:England 2023-06-01 2024-05-31 07241288 bus:FRS102 2023-06-01 2024-05-31 07241288 bus:FilletedAccounts 2023-06-01 2024-05-31 07241288 2024-05-31 07241288 core:WithinOneYear 2024-05-31 07241288 core:AfterOneYear 2024-05-31 07241288 core:ShareCapital 2024-05-31 07241288 core:RetainedEarningsAccumulatedLosses 2024-05-31 07241288 core:PlantMachinery 2024-05-31 07241288 core:Vehicles 2024-05-31 07241288 bus:Director1 1 2024-05-31 07241288 2023-05-31 07241288 core:PlantMachinery 2023-05-31 07241288 core:Vehicles 2023-05-31 07241288 bus:Director1 1 2023-05-31 iso4217:GBP xbrli:pure