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Registration number: 06289582

Drayton Beaumont Services (FM) Limited

Financial Statements

for the Year Ended 30 September 2024

 

Drayton Beaumont Services (FM) Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 7

 

Drayton Beaumont Services (FM) Limited

(Registration number: 06289582)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

4,298

Current assets

 

Debtors

5

6,186,880

5,718,070

Cash at bank and in hand

 

45,817

574,639

 

6,232,697

6,292,709

Creditors: Amounts falling due within one year

6

(3,307,498)

(3,619,611)

Net current assets

 

2,925,199

2,673,098

Total assets less current liabilities

 

2,925,199

2,677,396

Provisions for liabilities

3,217

-

Net assets

 

2,928,416

2,677,396

Capital and reserves

 

Called up share capital

2

2

Retained earnings

2,928,414

2,677,394

Shareholders' funds

 

2,928,416

2,677,396

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 10 April 2025 and signed on its behalf by:
 

.........................................
Mr SP Beaumont
Director

 

Drayton Beaumont Services (FM) Limited

Notes to the Financial Statements for the Year Ended 30 September 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:
Drayton Beaumont Building
Merrial Street
Newcastle-Under-Lyme
Staffordshire
ST5 2AE
UK

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.

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 Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 11 April 2025 was Matthew Geoffrey Price FCCA, who signed for and on behalf of Alextra Audit Limited.

.........................................

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Drayton Beaumont Services (FM) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Motor vehicles
 £

Tools & equipment
£

Total
£

Cost or valuation

At 1 October 2023

28,164

17,120

45,284

At 30 September 2024

28,164

17,120

45,284

Depreciation

At 1 October 2023

23,866

17,120

40,986

Charge for the year

4,298

-

4,298

At 30 September 2024

28,164

17,120

45,284

Carrying amount

At 30 September 2024

-

-

-

At 30 September 2023

4,298

-

4,298

5

Debtors

2024
£

2023
£

Trade debtors

202,047

75,675

Amounts owed by group undertakings

5,942,109

5,292,017

Other debtors

42,724

125,220

Gross amounts due from customers for contract work

-

225,158

 

6,186,880

5,718,070

 

Drayton Beaumont Services (FM) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

526,694

702,603

Amounts owed to group undertakings

2,617,734

2,812,376

Taxation and social security

 

99,862

21,112

Other creditors

 

63,208

83,520

 

3,307,498

3,619,611

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.

7

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.

8

Non adjusting events after the financial period

On 28 October 2024, a charge was created by Mr & Mrs J Moran. The charge created a fixed and floating charge over all the property or undertaking of the company as well as a negative pledge.