Registration number:
Drayton Beaumont Services (FM) Limited
for the Year Ended 30 September 2024
Drayton Beaumont Services (FM) Limited
Contents
Balance Sheet |
|
Notes to the Financial Statements |
Drayton Beaumont Services (FM) Limited
(Registration number: 06289582)
Balance Sheet as at 30 September 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
- |
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
|
- |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Retained earnings |
|
|
|
Shareholders' funds |
|
|
Approved and authorised by the
......................................... |
Drayton Beaumont Services (FM) Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
UK
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.
These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Drayton Beaumont Services (FM) Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Audit report
The name of the Senior Statutory Auditor who signed the audit report on
.........................................
Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the design and installation of electrical and mechanical engineering services. Turnover is shown net of sales/value added tax, 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.
Contract revenue recognition
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of the completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its considered probable.
When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expenses immediately.
Where the outcome of a construction contract cannot be estimated reliably, contract costs are recognised as expenses in the period in which they are incurred and contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable.
The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered
Drayton Beaumont Services (FM) Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Government grants
Government Grants are recognised using the accrual model. Grants which relate to revenue shall be recognised in other operating income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Any amounts outstanding at the year end will be included within other debtors.
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.
The current 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.
Drayton Beaumont Services (FM) Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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 |
Motor Vehicles |
25% straight line |
Tools & Equipment |
25% straight line |
Employee benefits
When employees have rendered services to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Drayton Beaumont Services (FM) Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Tangible assets |
Motor vehicles |
Tools & equipment |
Total |
|
Cost or valuation |
|||
At 1 October 2023 |
|
|
|
At 30 September 2024 |
|
|
|
Depreciation |
|||
At 1 October 2023 |
|
|
|
Charge for the year |
|
- |
|
At 30 September 2024 |
|
|
|
Carrying amount |
|||
At 30 September 2024 |
- |
- |
- |
At 30 September 2023 |
|
- |
|
Debtors |
2024 |
2023 |
|
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
Gross amounts due from customers for contract work |
- |
|
|
|
Drayton Beaumont Services (FM) Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
|
Due within one year |
|||
Trade creditors |
|
|
|
Amounts owed to group undertakings |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
Creditors include amounts due to group undertakings which are secured of £280,000 (2023 - £170,000).
These amounts are secured by a charge created on 23 December 2022 by Drayton Beaumont Group Limited. The charge created a fixed and floating charge over all the property or undertaking of the company as well as a negative pledge.
Drayton Beaumont Service Holdings Limited created a debenture on 22 October 2008 securing all monies due or to become due from the company. The debenture created a fixed and floating charge over the undertaking and all property and assets present and future.
Parent and ultimate parent undertaking |
The parent company is Drayton Beaumont Services Holding Limited, a company incorporated in England and Wales.
The ultimate parent company is Drayton Beaumont Group Limited, a company incorporated in England and Wales.
The controlling party is considered to be the shareholders of Drayton Beaumont Group Limited.
These financial statements are consolidated within the group financial statements prepared by Drayton Beaumont Group Limited and are available on request from the registered office of Drayton Beaumont Building, Merrial Street, Newcastle Under Lyme, Staffordshire, ST5 2AE.
The company has taken advantage of the exemption from disclosure of intra group transactions in accordance with FRS102 paragraph 33.1A.
Non adjusting events after the financial period |
|