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Company registration number: 08541386
DT Performance Cars Ltd
Unaudited filleted financial statements
31 March 2025
DT Performance Cars Ltd
Contents
Directors and other information
Directors report
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
DT Performance Cars Ltd
Directors and other information
Directors Mr D J Tranter
Mr D S Tranter
Mr T R Turner (Appointed 9 April 2024)
Company number 08541386
Registered office 1A Manor Road Industrial Estate
Manor Road
Mancetter
Atherstone
CV9 1TE
Business address 1A Manor Road Industrial Estate
Manor Road
Mancetter
Atherstone
CV9 1TE
Accountant J Robins Accountants
First Floor
59-63 Wood Street
Earl Shilton
Leicestershire
LE9 7NE
Bankers Barclays Bank plc
Leicester
LE87 2BB
DT Performance Cars Ltd
Directors report
Year ended 31 March 2025
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2025.
Directors
The directors who served the company during the year were as follows:
Mr D J Tranter
Mr D S Tranter
Mr T R Turner (Appointed 9 April 2024)
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 14 May 2025 and signed on behalf of the board by:
Mr D J Tranter Mr D S Tranter
Director Director
DT Performance Cars Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of DT Performance Cars Ltd
Year ended 31 March 2025
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 March 2025 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
J Robins Accountants
Chartered Certified Accountants
First Floor
59-63 Wood Street
Earl Shilton
Leicestershire
LE9 7NE
14 May 2025
DT Performance Cars Ltd
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 5 344,698 363,474
_______ _______
344,698 363,474
Current assets
Stocks 909,537 721,750
Debtors 6 67,157 23,715
Cash at bank and in hand 36,254 191,896
_______ _______
1,012,948 937,361
Creditors: amounts falling due
within one year 7 ( 417,352) ( 338,047)
_______ _______
Net current assets 595,596 599,314
_______ _______
Total assets less current liabilities 940,294 962,788
Creditors: amounts falling due
after more than one year 8 ( 114,025) ( 137,557)
Provisions for liabilities ( 8,257) ( 11,124)
_______ _______
Net assets 818,012 814,107
_______ _______
Capital and reserves
Called up share capital 140 130
Profit and loss account 817,872 813,977
_______ _______
Shareholders funds 818,012 814,107
_______ _______
For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 14 May 2025 , and are signed on behalf of the board by:
Mr D J Tranter
Director
Company registration number: 08541386
DT Performance Cars Ltd
Statement of changes in equity
Year ended 31 March 2025
Called up share capital Profit and loss account Total
£ £ £
At 1 June 2021 130 812,859 812,989
Profit for the year 181,118 181,118
_______ _______ _______
Total comprehensive income for the year - 181,118 181,118
Dividends paid and payable ( 180,000) ( 180,000)
_______ _______ _______
Total investments by and distributions to owners - ( 180,000) ( 180,000)
_______ _______ _______
At 31 March 2024 and 1 April 2024 130 813,977 814,107
Profit for the year 133,895 133,895
_______ _______ _______
Total comprehensive income for the year - 133,895 133,895
Issue of shares 10 10
Dividends paid and payable ( 130,000) ( 130,000)
_______ _______ _______
Total investments by and distributions to owners 10 ( 130,000) ( 129,990)
_______ _______ _______
At 31 March 2025 140 817,872 818,012
_______ _______ _______
DT Performance Cars Ltd
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 1A Manor Road Industrial Estate, Manor Road, Mancetter, Atherstone, CV9 1TE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
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.
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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Freehold property - 2 % straight line
Plant and machinery - 20 % straight line
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2024: 3 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 April 2024 365,422 49,603 22,394 22,617 460,036
Additions - - 3,794 - 3,794
_______ _______ _______ _______ _______
At 31 March 2025 365,422 49,603 26,188 22,617 463,830
_______ _______ _______ _______ _______
Depreciation
At 1 April 2024 46,445 25,060 18,344 6,713 96,562
Charge for the year 7,308 7,765 2,974 4,523 22,570
_______ _______ _______ _______ _______
At 31 March 2025 53,753 32,825 21,318 11,236 119,132
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2025 311,669 16,778 4,870 11,381 344,698
_______ _______ _______ _______ _______
At 31 March 2024 318,977 24,543 4,050 15,904 363,474
_______ _______ _______ _______ _______
6. Debtors
2025 2024
£ £
Trade debtors 64,400 22,800
Other debtors 2,757 915
_______ _______
67,157 23,715
_______ _______
7. Creditors: amounts falling due within one year
2025 2024
£ £
Bank loans and overdrafts 280,424 166,064
Trade creditors 2,166 16,987
Corporation tax 49,115 71,884
Social security and other taxes 32,786 18,317
Other creditors 52,861 64,795
_______ _______
417,352 338,047
_______ _______
Included in bank loans and overdrafts due within one year is an amount of £258,584 (2024 - £145,840) due to Santander, which is secured and repayable on demand. The Santander loan is used to aid stock purchasing. Also included in bank loans and overdrafts is an amount of £21,840 (2024 - £20,224) due to Barclays Bank plc in regard to amounts falling due within one year.
8. Creditors: amounts falling due after more than one year
2025 2024
£ £
Bank loans and overdrafts 114,025 137,557
_______ _______
Creditors falling due after more than one year includes £112,358 (2024 - £125,890) due to Barclays Bank plc under a debenture agreement, and a further £1,667 (2024 - £11,667) due to Barlcays Bank plc under the 2020 Bounce Back Covid-19 loan finance facility.
Included within creditors: amounts falling due after more than one year is an amount of £ 63,798 (2024 £ 87,994 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
In September 2017 the company received a loan of £190,000 from Barclays bank plc towards the purchase of a new commercial premises. The loan agreement is for a period of 15 years, and the interest is chargeable at 2.9% above base rate. The debenture is secured on the assets of the company. On 6 May 2020 the company received a £50,000 Bounce Back loan from Barclays Bank plc. Interest is charged at 2.5% above base rate and repayments are made over 6 years. No repayments are made in the first 12 months and interest is covered by the government for this period as a rersult of COVID-19 response measures.
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2025
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr D J Tranter 915 ( 2,400) ( 1,485)
Mr D S Tranter ( 106) 106 -
Mr T R Turner - 2,757 2,757
_______ _______ _______
809 463 1,272
_______ _______ _______
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr D J Tranter - 915 915
Mr D S Tranter ( 167) 61 ( 106)
Mr T R Turner - - -
_______ _______ _______
( 167) 976 809
_______ _______ _______
10. Controlling party
Throughout the period the company has been under the control of Mr D J Tranter , a director and majority shareholder of the company.