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Registered Number: 08741827
England and Wales

 

 

 

DURABLE SYSTEMS LTD



Abridged Accounts
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 556,602    48,269 
556,602    48,269 
Current assets      
Stocks 2,829,969    2,358,718 
Debtors 58,553    86,133 
Cash at bank and in hand 47,973    199,321 
2,936,495    2,644,172 
Creditors: amount falling due within one year (2,776,380)   (2,026,368)
Net current assets 160,115    617,804 
 
Total assets less current liabilities 716,717    666,073 
Creditors: amount falling due after more than one year (164,299)   (164,049)
Provisions for liabilities (24,963)   (10,870)
Net assets 527,455    491,154 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 527,454    491,153 
Shareholders' funds 527,455    491,154 
 


For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 24 July 2025 and were signed by:


-------------------------------
T D Lince
Director
1
General Information
Durable Systems Ltd is a private company, limited by shares, registered in England and Wales, registration number 08741827, registration address 17 Old Courts Road, Brigg, DN20 8JD.

The presentation currency is £ sterling and rounded to the nearest £. These financial statements cover the individual entity Durable Systems Ltd.
1.

Accounting policies

Significant accounting policies
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 basis
Specifically in connection with the current economic climate, the directors have considered the impact of COVID-19 on the business and they are satisfied that the company has sufficient financial headroom to continue trading for at least the next twelve months. For this reason the financial statements have been prepared on a going concern basis.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Motor Vehicles 20% Straight Line
Fixtures and Fittings 20% Straight Line
Computer Equipment 20% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 November 2023   14,296    50,995    908    257    66,456 
Additions 456,750    65,600      421      522,771 
Disposals          
At 31 October 2024 456,750    79,896    50,995    1,329    257    589,227 
Depreciation
At 01 November 2023   1,638    16,490    50    9    18,187 
Charge for year   3,953    10,199    233    53    14,438 
On disposals          
At 31 October 2024   5,591    26,689    283    62    32,625 
Net book values
Closing balance as at 31 October 2024 456,750    74,305    24,306    1,046    195    556,602 
Opening balance as at 01 November 2023   12,658    34,505    858    248    48,269 

The net book value of Plant and Machinery includes £ 64,506 in respect of assets leased under finance leases or hire purchase contracts.

2