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Registration number: 08543299

D and C Autos Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

D and C Autos Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

D and C Autos Ltd

Company Information

Directors

Mr David Chidgey

Mr Christopher Gordon

Registered office

63a Hesketh Lane
Tarleton
Preston
Lancashire
PR4 6AQ

Accountants

Brown & Lonsdale Limited
82 Blackburn Road
Accrington
Lancashire
BB5 1LL

 

D and C Autos Ltd

(Registration number: 08543299)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,924

6,153

Creditors: Amounts falling due within one year

6

(67,750)

(58,980)

Total assets less current liabilities

 

(62,826)

(52,827)

Creditors: Amounts falling due after more than one year

6

(15,707)

(18,738)

Net liabilities

 

(78,533)

(71,565)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(78,535)

(71,567)

Shareholders' deficit

 

(78,533)

(71,565)

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 31 March 2025 and signed on its behalf by:
 

.........................................
Mr David Chidgey
Director

.........................................
Mr Christopher Gordon
Director

 

D and C Autos Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

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

The address of its registered office is:
63a Hesketh Lane
Tarleton
Preston
Lancashire
PR4 6AQ
England

These financial statements were authorised for issue by the Board on 31 March 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

 

D and C Autos Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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

20% Per Annum on a Reducing Balance Basis

Fixtures and Fittings

20% Per Annum on a Reducing Balance Basis

Plant and Machinery

20% Per Annum on a Reducing Balance Basis

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

3

Staff numbers

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

 

D and C Autos Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

4,919

1,100

6,000

12,019

At 31 May 2024

4,919

1,100

6,000

12,019

Depreciation

At 1 June 2023

2,401

537

2,928

5,866

Charge for the year

503

112

614

1,229

At 31 May 2024

2,904

649

3,542

7,095

Carrying amount

At 31 May 2024

2,015

451

2,458

4,924

At 31 May 2023

2,518

563

3,072

6,153

5

Debtors

Current

2024
£

2023
£

 

-

-

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

64,646

55,876

Taxation and social security

 

3,104

3,104

 

67,750

58,980

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

15,707

18,738

7

Share capital

Allotted, called up and fully paid shares

 

D and C Autos Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

2024

2023

No.

£

No.

£

Ordinary Share Capital of £1 each

2

2

2

2

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

15,707

18,738

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

3,437

4,992

Other borrowings

61,209

50,884

64,646

55,876

9

Related party transactions

 

D and C Autos Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

11,800

11,960