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COMPANY REGISTRATION NUMBER: 12969694
DYNAMIC CABLING SERVICES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 October 2024
DYNAMIC CABLING SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
31 October 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
21,164
20,304
CURRENT ASSETS
Stocks
2,950
2,650
Debtors
6
75,630
48,413
Cash at bank and in hand
167,186
90,336
---------
---------
245,766
141,399
CREDITORS: amounts falling due within one year
7
180,493
110,137
---------
---------
NET CURRENT ASSETS
65,273
31,262
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
86,437
51,566
--------
--------
NET ASSETS
86,437
51,566
--------
--------
CAPITAL AND RESERVES
Called up share capital fully paid
100
100
Profit and loss account
86,337
51,466
--------
--------
SHAREHOLDERS FUNDS
86,437
51,566
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 31 October 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 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 .
DYNAMIC CABLING SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 4 June 2025 , and are signed on behalf of the board by:
Mr S Croker
Mr L Croker
Director
Director
Company registration number: 12969694
DYNAMIC CABLING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OCTOBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Motor vehicles
-
25% reducing balance
Equipment
-
15% reducing balance & 33.3% straight line
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 stock to its present location and condition.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
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 as a finance cost 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 3 (2023: 3 ).
5. TANGIBLE ASSETS
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 November 2023
3,188
30,076
33,264
Additions
6,969
6,969
Disposals
( 3,188)
( 3,188)
-------
--------
--------
At 31 October 2024
37,045
37,045
-------
--------
--------
Depreciation
At 1 November 2023
1,843
11,117
12,960
Charge for the year
4,764
4,764
Disposals
( 1,843)
( 1,843)
-------
--------
--------
At 31 October 2024
15,881
15,881
-------
--------
--------
Carrying amount
At 31 October 2024
21,164
21,164
-------
--------
--------
At 31 October 2023
1,345
18,959
20,304
-------
--------
--------
6. DEBTORS
2024
2023
£
£
Trade debtors
48,678
23,744
Other debtors
26,952
24,669
--------
--------
75,630
48,413
--------
--------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
597
3,175
Corporation tax
80,278
26,429
Social security and other taxes
24,596
26,858
Other creditors
75,022
53,675
---------
---------
180,493
110,137
---------
---------