DIVESTITURE LIMITED

Company Registration Number:
08886559 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

DIVESTITURE LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

DIVESTITURE LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 2,151,151 2,626,183
Total fixed assets: 2,151,151 2,626,183
Current assets
Stocks: 350,000 132,625
Debtors:   1,006,143 2,378,484
Cash at bank and in hand: 9,648 10,016
Total current assets: 1,365,791 2,521,125
Creditors: amounts falling due within one year: 4 (1,876,891) (3,836,739)
Net current assets (liabilities): (511,100) (1,315,614)
Total assets less current liabilities: 1,640,051 1,310,569
Creditors: amounts falling due after more than one year: 5 (355,132) (130,552)
Total net assets (liabilities): 1,284,919 1,180,017
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 1,284,819 1,179,917
Shareholders funds: 1,284,919 1,180,017

The notes form part of these financial statements

DIVESTITURE LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 02 May 2025
and signed on behalf of the board by:

Name: D J Palin
Status: Director

The notes form part of these financial statements

DIVESTITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Plant and machinery - 25% straight line Fittings fixtures and equipment - 25% straight line Motor vehicles - 25% straight line

Other accounting policies

Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

DIVESTITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 13 13

DIVESTITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible Assets

Total
Cost £
At 01 April 2023 3,334,044
Additions 194,878
Disposals (484,679)
At 31 March 2024 3,044,243
Depreciation
At 01 April 2023 707,861
Charge for year 410,794
On disposals (225,563)
At 31 March 2024 893,092
Net book value
At 31 March 2024 2,151,151
At 31 March 2023 2,626,183

DIVESTITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

Other creditors include obligations under hire purchase contracts and finance leases which are secured against the assets to which they relate of £201,318 (2023: £226,691).

DIVESTITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due after more than one year note

Other creditors include obligations under hire purchase contracts and finance leases which are secured against the assets to which they relate of £344,595 (2023: £109,394).