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REGISTERED NUMBER: 07890354 (England and Wales)










Report of the Directors and

Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Drg Interior & Building Solutions Ltd

Drg Interior & Building Solutions Ltd (Registered number: 07890354)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Report of the Directors 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


Drg Interior & Building Solutions Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: D R Gregory
Mrs L A Gregory





SECRETARY: Mrs L A Gregory





REGISTERED OFFICE: Unit 4 Common Barns
Hill Furze Road
Bishampton
Pershore
Worcestershire
WR10 2NU





REGISTERED NUMBER: 07890354 (England and Wales)





ACCOUNTANTS: Attwoods
Chartered Certified Accountants
90-92 High Street
Evesham
Worcestershire
WR11 4EU

Drg Interior & Building Solutions Ltd (Registered number: 07890354)

Report of the Directors
for the Year Ended 30 September 2024

The directors present their report with the financial statements of the company for the year ended 30 September 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of building contractors.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

D R Gregory
Mrs L A Gregory

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





D R Gregory - Director


15 April 2025

Drg Interior & Building Solutions Ltd (Registered number: 07890354)

Abridged Balance Sheet
30 September 2024

30.9.24 30.9.23
as restated
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 6,233 6,945
Tangible assets 5 134,087 186,640
140,320 193,585

CURRENT ASSETS
Stocks 24,000 24,000
Debtors 6 4,658,999 5,701,462
Cash at bank 148,307 126,949
4,831,306 5,852,411
CREDITORS
Amounts falling due within one year 4,265,840 5,397,418
NET CURRENT ASSETS 565,466 454,993
TOTAL ASSETS LESS CURRENT
LIABILITIES

705,786

648,578

CREDITORS
Amounts falling due after more than one
year

-

(2,537

)

PROVISIONS FOR LIABILITIES (35,533 ) (46,632 )
NET ASSETS 670,253 599,409

CAPITAL AND RESERVES
Called up share capital 1,004 1,004
Share premium 999 999
Retained earnings 668,250 597,406
SHAREHOLDERS' FUNDS 670,253 599,409

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Drg Interior & Building Solutions Ltd (Registered number: 07890354)

Abridged Balance Sheet - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2025 and were signed on its behalf by:




D R Gregory - Director



Mrs L A Gregory - Director


Drg Interior & Building Solutions Ltd (Registered number: 07890354)

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

1. STATUTORY INFORMATION

Drg Interior & Building Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Drg Interior & Building Solutions Ltd (Registered number: 07890354)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Long term contract work in progress
Where work in progress is determined to be a long-term contract, the turnover and associated costs are brought into the profit and loss in pre-determined stages set out by the company excluding the deduction of a retention. This reflects a fair view on the activities of the company during the year.
Where the outcome of long-term contracts cannot be assessed with reasonable certainty before the conclusion of the contract, no profit is reflected in the profit and loss account.
Where a long-term contract is expected to generate a loss as a whole, all the loss is recognised as soon as it is foreseen.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 32 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023
and 30 September 2024 7,125
AMORTISATION
At 1 October 2023 180
Amortisation for year 712
At 30 September 2024 892
NET BOOK VALUE

At 30 September 2024 6,233
At 30 September 2023 6,945

Drg Interior & Building Solutions Ltd (Registered number: 07890354)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 474,802
Additions 26,154
Disposals (98,712 )
At 30 September 2024 402,244
DEPRECIATION
At 1 October 2023 288,162
Charge for year 41,389
Eliminated on disposal (61,394 )
At 30 September 2024 268,157
NET BOOK VALUE
At 30 September 2024 134,087
At 30 September 2023 186,640

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 October 2023 54,351
Transfer to ownership (23,590 )
At 30 September 2024 30,761
DEPRECIATION
At 1 October 2023 26,178
Charge for year 4,202
Transfer to ownership (12,226 )
At 30 September 2024 18,154
NET BOOK VALUE
At 30 September 2024 12,607
At 30 September 2023 28,173

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
as restated
£    £   
Other debtors 1,500 1,500

Drg Interior & Building Solutions Ltd (Registered number: 07890354)

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

7. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
as restated
£    £   
Hire purchase contracts 2,537 15,475

8. OTHER FINANCIAL COMMITMENTS

The company has rent commitments of £19,200 (2023: £27,725) for the next financial year.

9. ULTIMATE CONTROLLING PARTY

The controlling party is DRG Contracts Limited.

The ultimate controlling party is D R Gregory.