D N R Commercial Vehicle Refinishers Limited
for the
Year Ended 31 March 2024
Registration number:
D N R Commercial Vehicle Refinishers Limited
Contents
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Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
D N R Commercial Vehicle Refinishers Limited
Company Information
Directors |
N Hatton A Woodbridge |
Registered office |
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Accountants |
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D N R Commercial Vehicle Refinishers Limited
(Registration number: 3511017)
Abridged Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Accruals and deferred income |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
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D N R Commercial Vehicle Refinishers Limited
Notes to the Unaudited Abridged Financial Accounts for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in the United Kingdom. The company's registration number is 3511017. The business address and registered office is Unit 8, Lyon Road Industrial Estate, Kearsley, Bolton, BL4 8NB.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial accounts are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These abridged financial accounts have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Turnover
Turnover represents the value of work undertaken during the year, exclusive of value added tax.
Tangible assets
Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
15% Reducing balance method |
Motor vehicles |
25% Reducing balance method |
Property improvements |
Not depreciated |
Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Defined contribution pension obligation
The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
D N R Commercial Vehicle Refinishers Limited
Notes to the Unaudited Abridged Financial Accounts for the Year Ended 31 March 2024
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Total |
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Cost or valuation |
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At 1 April 2023 |
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At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
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Charge for the year |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Financial commitments, guarantees and contingencies |
The total amount of financial commitments not included in the balance sheet is £38,400 (2023 - £55,800).
Related party transactions |
One director had a loan with the company which was in credit at the year end (2023 - overdrawn by £6,290). The maximum this loan was overdrawn in the year was £12,656 (2023 - £58,267).
Another director had a loan with the company which was overdrawn by £38,330 at the year end (2023 - £33,670 overdrawn). Advances of £32,693 and repayments of £28,033 were made in the year. The maximum this loan was overdrawn in the year was £52,359 (2023 - £58,267).
Interest has been charged at a commercial rate on these loans and they are repayable on demand.