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Registered number: 08130673
DJB Machinery Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Visualize Office Solutions Limited
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 08130673
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 168,327 230,823
168,327 230,823
CURRENT ASSETS
Stocks 5 1,284,429 899,972
Debtors 6 375,777 116,628
Cash at bank and in hand 28,054 5,281
1,688,260 1,021,881
Creditors: Amounts Falling Due Within One Year 7 (1,684,156 ) (1,026,086 )
NET CURRENT ASSETS (LIABILITIES) 4,104 (4,205 )
TOTAL ASSETS LESS CURRENT LIABILITIES 172,431 226,618
Creditors: Amounts Falling Due After More Than One Year 8 (97,308 ) (101,333 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (37,012 ) (43,856 )
NET ASSETS 38,111 81,429
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 38,011 81,329
SHAREHOLDERS' FUNDS 38,111 81,429
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
D Bryce
Director
14 July 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 August 2022 100 212,108 212,208
Loss for the year and total comprehensive income - (130,779 ) (130,779)
Dividends paid - - -
As at 31 July 2023 100 81,329 81,429
As at 1 August 2023 as previously stated 100 232,588 232,688
Prior year adjustment - (151,259 ) (151,259 )
As at 1 August 2023 as restated 100 81,329 81,429
81,329
Loss for the year and total comprehensive income - (43,318 ) (43,318)
As at 31 July 2024 100 38,011 38,111
During the year, the company identified an error in the accounting treatment of stock financing and the VAT treatment of invoices from Europe in the financial statements for the year ended 31 July 2023.
In accordance with FRS 102 Section 10 Accounting Policies, Estimates and Errors, the error has been corrected retrospectively. The comparative figures for the year ended 31 July 2023 have been restated as follows:
The effect of the correction on the profit and loss account for the year ended 31 July 2023 was a £151,259.
The net assets as at 31 July 2023 have been decreased by £151,259.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
DJB Machinery Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08130673 . The registered office is Unit 19 Broxhead House, 60 Barbados Road, Bordon, Hampshire, GU35 0FX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Written Down Value
Motor Vehicles 25% Written Down Value
Fixtures & Fittings 25% Written Down Value
Computer Equipment 25% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 7)
5 7
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 79,249 261,266 11,701 352,216
Additions 3,500 47,434 - 50,934
Disposals - (55,108 ) - (55,108 )
As at 31 July 2024 82,749 253,592 11,701 348,042
Depreciation
As at 1 August 2023 38,771 77,909 4,713 121,393
Provided during the period 10,994 59,166 1,939 72,099
Disposals - (13,777 ) - (13,777 )
As at 31 July 2024 49,765 123,298 6,652 179,715
Net Book Value
As at 31 July 2024 32,984 130,294 5,049 168,327
As at 1 August 2023 40,478 183,357 6,988 230,823
5. Stocks
2024 2023
as restated
£ £
Stock 1,284,429 899,972
Included in the stock value is £730,380 held under a stock financing arrangement.
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6. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 285,848 108,663
Other debtors 89,929 7,965
375,777 116,628
7. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 31,731 17,856
Trade creditors 167,391 148,471
Bank loans and overdrafts 4,912 10,053
Stock financing 639,412 284,007
Other creditors 467,892 392,537
Taxation and social security 372,818 173,162
1,684,156 1,026,086
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 75,231 82,347
Bank loans 22,077 18,986
97,308 101,333
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
as restated
£ £
The future minimum finance lease payments are as follows:
Not later than one year 31,731 17,856
Later than one year and not later than five years 75,231 82,347
106,962 100,203
106,962 100,203
10. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 100 100
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