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Registration number: 13449875

DSC Fabrication Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

DSC Fabrication Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

DSC Fabrication Limited

Company Information

Directors

TJ Courtenage

DD Boydell

Registered office

4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

Accountants

Addicus Plus Limited
Chartered Certified Accountants4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

 

DSC Fabrication Limited

(Registration number: 13449875)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

66,750

75,750

Tangible assets

5

31,674

38,407

 

98,424

114,157

Current assets

 

Debtors

6

6,536

21,833

Cash at bank and in hand

 

3,409

4,368

 

9,945

26,201

Creditors: Amounts falling due within one year

7

(95,439)

(98,955)

Net current liabilities

 

(85,494)

(72,754)

Total assets less current liabilities

 

12,930

41,403

Creditors: Amounts falling due after more than one year

7

(4,823)

(11,908)

Provisions for liabilities

(211)

(215)

Net assets

 

7,896

29,280

Capital and reserves

 

Called up share capital

100

100

Retained earnings

7,796

29,180

Shareholders' funds

 

7,896

29,280

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

 

DSC Fabrication Limited

(Registration number: 13449875)
Balance Sheet as at 30 June 2024

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 February 2025 and signed on its behalf by:
 

TJ Courtenage
Director

DD Boydell
Director

 
     
 

DSC Fabrication Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These 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 financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

DSC Fabrication Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

DSC Fabrication Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 5).

 

DSC Fabrication Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

90,000

90,000

At 30 June 2024

90,000

90,000

Amortisation

At 1 July 2023

14,250

14,250

Amortisation charge

9,000

9,000

At 30 June 2024

23,250

23,250

Carrying amount

At 30 June 2024

66,750

66,750

At 30 June 2023

75,750

75,750

5

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

26,431

32,733

59,164

Additions

3,831

-

3,831

At 30 June 2024

30,262

32,733

62,995

Depreciation

At 1 July 2023

8,994

11,763

20,757

Charge for the year

5,320

5,244

10,564

At 30 June 2024

14,314

17,007

31,321

Carrying amount

At 30 June 2024

15,948

15,726

31,674

At 30 June 2023

17,437

20,970

38,407

 

DSC Fabrication Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Debtors

2024
£

2023
£

Trade debtors

1,063

15,464

Other debtors

3,000

3,000

Prepayments

2,473

3,369

6,536

21,833

 

DSC Fabrication Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

7,085

6,500

Trade creditors

 

9,531

19,261

Taxation and social security

 

23,433

18,065

Accruals and deferred income

 

1,650

1,650

Other creditors

 

53,740

53,479

 

95,439

98,955

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

4,823

11,908

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

4,823

11,908

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

7,085

6,500

 

DSC Fabrication Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

25,140

16,760