Registered number
05636380
Doorsmart Limited
Filleted Accounts
30 September 2024
Doorsmart Limited
Registered number: 05636380
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 335,755 132,516
Current assets
Stocks 27,000 18,500
Debtors 4 119,082 160,043
Cash at bank and in hand 22,485 69,442
168,567 247,985
Creditors: amounts falling due within one year 5 (198,928) (248,645)
Net current liabilities (30,361) (660)
Total assets less current liabilities 305,394 131,856
Creditors: amounts falling due after more than one year 6 (47,981) (61,874)
Provisions for liabilities (59,193) (7,915)
Net assets 198,220 62,067
Capital and reserves
Called up share capital 2 2
Revaluation reserve 8 162,012 -
Profit and loss account 36,206 62,065
Shareholders' funds 198,220 62,067
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.
C Broadley
Director
Approved by the board on 21 February 2025
Doorsmart Limited
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).
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
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 or valuation 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:
Freehold buildings over 50 years
Plant and machinery 15% reducing balance
Motor vehices 25% reducing balance
Computer equipment over 3 years
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 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost or valuation
At 1 October 2023 133,626 7,589 77,056 218,271
Additions - 1,149 - 1,149
Surplus on revaluation 216,016 - - 216,016
At 30 September 2024 349,642 8,738 77,056 435,436
Depreciation
At 1 October 2023 32,769 5,035 47,951 85,755
Charge for the year 1,873 589 11,464 13,926
At 30 September 2024 34,642 5,624 59,415 99,681
Net book value
At 30 September 2024 315,000 3,114 17,641 335,755
At 30 September 2023 100,857 2,554 29,105 132,516
Freehold land and buildings:
The company's trading property has been revalued to the open market value determined by a professionally qualified valuer. Gains or losses on revaluation are recognised in other comprehensive income, with a corresponding adjustment to the revaluation reserve less a provision for deferred tax. The comparable carrying amount under the cost model is shown below.
2024 2023
£ £
Historical cost 133,626 -
Cumulative depreciation based on historical cost 34,642 -
98,984 -
4 Debtors 2024 2023
£ £
Trade debtors 117,844 160,043
Other debtors 1,238 -
119,082 160,043
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 13,750 13,600
Trade creditors 159,188 179,531
Taxation and social security costs 25,058 41,579
Other creditors 932 13,935
198,928 248,645
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 47,981 61,874
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 23,815 28,307
Secured bank loans 42,565 46,307
Bank loans are secured over the freehold property.
8 Revaluation reserve 2024 2023
£ £
Gain on revaluation of land and buildings 216,016 -
Deferred taxation arising on the revaluation of land and buildings (54,004) -
At 30 September 2024 162,012 -
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
J Bates
Interest free loan (5,327) 8,000 2,673
10 Related party transactions
C Broadley, a director of the company, is owed £1,463 (2023: £6,463) by the company at the year end. The loan is interest free and repayable on demand.
11 Controlling party
C Broadley and J Bates are the controlling parties.
12 Other information
Doorsmart Limited is a private company limited by shares and incorporated in England. Its registered office is:
Elder Cottage
Walford Heath
Shrewsbury
SY4 2HS
Doorsmart Limited 05636380 false 2023-10-01 2024-09-30 2024-09-30 VT Final Accounts April 2025 C Broadley No description of principal activity 05636380 2022-10-01 2023-09-30 05636380 core:RevaluationReserve core:LandBuildings 2022-10-01 2023-09-30 05636380 core:RevaluationReserve 2022-10-01 2023-09-30 05636380 core:WithinOneYear 2023-09-30 05636380 core:AfterOneYear 2023-09-30 05636380 core:ShareCapital 2023-09-30 05636380 core:OtherReservesSubtotal 2023-09-30 05636380 core:RetainedEarningsAccumulatedLosses 2023-09-30 05636380 core:RevaluationReserve 2023-09-30 05636380 2023-10-01 2024-09-30 05636380 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05636380 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 05636380 bus:Director40 2023-10-01 2024-09-30 05636380 1 2023-10-01 2024-09-30 05636380 2 2023-10-01 2024-09-30 05636380 core:LandBuildings 2023-10-01 2024-09-30 05636380 core:PlantMachinery 2023-10-01 2024-09-30 05636380 core:Vehicles 2023-10-01 2024-09-30 05636380 core:RevaluationReserve core:LandBuildings 2023-10-01 2024-09-30 05636380 core:RevaluationReserve 2023-10-01 2024-09-30 05636380 bus:Director2 2023-10-01 2024-09-30 05636380 bus:Director2 1 2023-10-01 2024-09-30 05636380 countries:England 2023-10-01 2024-09-30 05636380 bus:FRS102 2023-10-01 2024-09-30 05636380 bus:FilletedAccounts 2023-10-01 2024-09-30 05636380 2024-09-30 05636380 core:WithinOneYear 2024-09-30 05636380 core:AfterOneYear 2024-09-30 05636380 core:ShareCapital 2024-09-30 05636380 core:OtherReservesSubtotal 2024-09-30 05636380 core:RetainedEarningsAccumulatedLosses 2024-09-30 05636380 core:LandBuildings 2024-09-30 05636380 core:PlantMachinery 2024-09-30 05636380 core:Vehicles 2024-09-30 05636380 core:RevaluationReserve 2024-09-30 05636380 bus:Director2 1 2024-09-30 05636380 2023-09-30 05636380 core:LandBuildings 2023-09-30 05636380 core:PlantMachinery 2023-09-30 05636380 core:Vehicles 2023-09-30 05636380 bus:Director2 1 2023-09-30 iso4217:GBP xbrli:pure