Registered number
12196589
DPW Bodyworks Ltd
Unaudited Filleted Accounts
30 September 2024
DPW Bodyworks Ltd
Registered number: 12196589
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 2,400 4,800
Tangible assets 4 164,195 207,918
166,595 212,718
Current assets
Stocks 13,000 13,000
Debtors 5 296,689 205,631
Cash at bank and in hand 78,491 43,922
388,180 262,553
Creditors: amounts falling due within one year 6 (133,068) (104,506)
Net current assets 255,112 158,047
Total assets less current liabilities 421,707 370,765
Creditors: amounts falling due after more than one year 7 - (2,877)
Net assets 421,707 367,888
Capital and reserves
Called up share capital 100 100
Profit and loss account 421,607 367,788
Shareholders' funds 421,707 367,888
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Wildey
Director
Approved by the board on 15 May 2025
DPW Bodyworks Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant, machinery and equipment 15/25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 12,000
At 30 September 2024 12,000
Amortisation
At 1 October 2023 7,200
Provided during the year 2,400
At 30 September 2024 9,600
Net book value
At 30 September 2024 2,400
At 30 September 2023 4,800
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 121,860 154,342 276,202
At 30 September 2024 121,860 154,342 276,202
Depreciation
At 1 October 2023 38,369 29,915 68,284
Charge for the year 12,616 31,107 43,723
At 30 September 2024 50,985 61,022 112,007
Net book value
At 30 September 2024 70,875 93,320 164,195
At 30 September 2023 83,491 124,427 207,918
5 Debtors 2024 2023
£ £
Trade debtors 81,695 56,350
Other debtors 214,994 149,281
296,689 205,631
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 2,876 17,260
Trade creditors 34,336 3,400
Taxation and social security costs 94,857 82,121
Other creditors 999 1,725
133,068 104,506
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 2,877
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
D Wildey
D & Mrs C Wildey 149,281 111,585 (96,254) 164,612
149,281 111,585 (96,254) 164,612
The loan attracts interest and was partly repaid within 9 months of the year end.
9 Controlling party
The ultimate control of the company lies with D Wildey, by virtue of his majority shareholding.
10 Other information
DPW Bodyworks Ltd is a private company limited by shares and incorporated in England. Its registered office is:
3 High St
Longtown
Carlisle
CA6 5UA
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