Company Registration No. 09695936 (England and Wales)
DG Drylining Limited
Unaudited accounts
for the year ended 31 July 2024
DG Drylining Limited
Unaudited accounts
Contents
DG Drylining Limited
Company Information
for the year ended 31 July 2024
Company Number
09695936 (England and Wales)
Registered Office
23 BROOKLYN DRIVE
RAYLEIGH
SS6 9LW
ENGLAND
Accountants
The Straightener Limited
83 Ducie Street
Manchester
M1 2JQ
DG Drylining Limited
Statement of financial position
as at 31 July 2024
Tangible assets
15,873
22,816
Cash at bank and in hand
660
38,996
Creditors: amounts falling due within one year
(32,062)
(31,983)
Net current assets
23,231
16,928
Total assets less current liabilities
39,104
39,744
Creditors: amounts falling due after more than one year
(3,873)
(7,744)
Provisions for liabilities
Deferred tax
(3,967)
(4,334)
Called up share capital
100
100
Profit and loss account
31,164
27,566
Shareholders' funds
31,264
27,666
For the year ending 31 July 2024 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 March 2025 and were signed on its behalf by
DJ Goodliffe
Director
Company Registration No. 09695936
DG Drylining Limited
Notes to the Accounts
for the year ended 31 July 2024
DG Drylining Limited is a private company, limited by shares, registered in England and Wales, registration number 09695936. The registered office is 23 BROOKLYN DRIVE, RAYLEIGH, SS6 9LW, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. The company has the full financial support of its director and therefore, the director considers that it is appropriate to prepare the financial statements on a going concern basis.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on a reducing balance basis
Computer equipment
25% on a reducing balance basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
DG Drylining Limited
Notes to the Accounts
for the year ended 31 July 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2023
26,675
549
27,224
Disposals
(4,475)
-
(4,475)
At 31 July 2024
22,200
549
22,749
At 1 August 2023
4,211
197
4,408
Charge for the year
5,203
88
5,291
On disposals
(2,823)
-
(2,823)
At 31 July 2024
6,591
285
6,876
At 31 July 2024
15,609
264
15,873
At 31 July 2023
22,464
352
22,816
Amounts falling due within one year
Other debtors
31,146
8,176
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
4,260
4,320
Taxes and social security
18,400
11,278
Loans from directors
8,146
15,129
DG Drylining Limited
Notes to the Accounts
for the year ended 31 July 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Amounts due to director
15,129
58,253
65,236
8,146
15,129
58,253
65,236
8,146
9
Transactions with related parties
During the year, the company made an unsecured, interest-free loan to a connected company, DJG Property Investments Limited, by virtue of it being controlled by the same person. This loan is for £30,000 and is repayable in 5 years.
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).