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Registered number: 09318944
D Driver & Son Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
LPTA Limited
Chartered Certified Accountants
Priory Road
Priory Place
Tiptree
Essex
CO5 0QE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09318944
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 183,132 183,248
183,132 183,248
CURRENT ASSETS
Debtors 5 4,566 8,819
Cash at bank and in hand 149,741 106,382
154,307 115,201
Creditors: Amounts Falling Due Within One Year 6 (46,285 ) (39,294 )
NET CURRENT ASSETS (LIABILITIES) 108,022 75,907
TOTAL ASSETS LESS CURRENT LIABILITIES 291,154 259,155
Creditors: Amounts Falling Due After More Than One Year 7 (10,694 ) (22,361 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (22,684 ) (26,221 )
NET ASSETS 257,776 210,573
CAPITAL AND RESERVES
Called up share capital 10 275 275
Profit and Loss Account 257,501 210,298
SHAREHOLDERS' FUNDS 257,776 210,573
Page 1
Page 2
For the year ending 30 November 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Colin Driver
Director
Mrs Julie Driver
Director
28th February 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
D Driver & Son Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09318944 . The registered office is Grays Farmhouse, Maldon Road, Hatfield Peverel, Chelmsford, CM3 2JP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
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2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 4)
5 4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2023 496,257 229 1,032 497,518
Additions 43,888 - 1,779 45,667
As at 30 November 2024 540,145 229 2,811 543,185
Depreciation
As at 1 December 2023 313,401 112 757 314,270
Provided during the period 45,349 23 411 45,783
As at 30 November 2024 358,750 135 1,168 360,053
Net Book Value
As at 30 November 2024 181,395 94 1,643 183,132
As at 1 December 2023 182,856 117 275 183,248
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,386 6,919
Prepayments and accrued income 2,134 1,900
Other taxes and social security 1,046 -
4,566 8,819
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,667 20,492
Trade creditors 2,109 5,448
Corporation tax 18,124 7,757
Other taxes and social security - 1,280
VAT 12,991 3,124
D Driver & Son P/ship Loan - (300 )
Accruals and deferred income 1,256 1,210
Directors' loan accounts 138 283
46,285 39,294
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,694 22,361
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 11,667 20,492
Later than one year and not later than five years 10,694 22,361
22,361 42,853
22,361 42,853
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 22,684 26,221
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10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
50 Ordinary A shares of £ 1.000 each 50 50
100 Ordinary B shares of £ 1.000 each 100 100
25 Ordinary C shares of £ 1.000 each 25 25
275 275
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
12. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 20,000 28,000
13. Ultimate Controlling Party
The company's ultimate controlling party is Mr & Mrs C Driver by virtue of their ownership of 100% of the issued share capital in the company.
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