The DEP Group 08717848 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is other business support activities Digita Accounts Production Advanced 6.30.9574.0 true 08717848 2024-01-01 2024-12-31 08717848 2024-12-31 08717848 bus:OrdinaryShareClass1 2024-12-31 08717848 bus:OrdinaryShareClass2 2024-12-31 08717848 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-12-31 08717848 core:CurrentFinancialInstruments 2024-12-31 08717848 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 08717848 core:Non-currentFinancialInstruments 2024-12-31 08717848 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 08717848 core:Goodwill 2024-12-31 08717848 core:FurnitureFittingsToolsEquipment 2024-12-31 08717848 core:MotorVehicles 2024-12-31 08717848 bus:SmallEntities 2024-01-01 2024-12-31 08717848 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 08717848 bus:FilletedAccounts 2024-01-01 2024-12-31 08717848 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08717848 bus:RegisteredOffice 2024-01-01 2024-12-31 08717848 bus:Director1 2024-01-01 2024-12-31 08717848 bus:Director2 2024-01-01 2024-12-31 08717848 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 08717848 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 08717848 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08717848 core:Goodwill 2024-01-01 2024-12-31 08717848 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 08717848 core:MotorVehicles 2024-01-01 2024-12-31 08717848 core:Vehicles 2024-01-01 2024-12-31 08717848 countries:EnglandWales 2024-01-01 2024-12-31 08717848 2023-12-31 08717848 core:Goodwill 2023-12-31 08717848 core:FurnitureFittingsToolsEquipment 2023-12-31 08717848 core:MotorVehicles 2023-12-31 08717848 2023-01-01 2023-12-31 08717848 2023-12-31 08717848 bus:OrdinaryShareClass1 2023-12-31 08717848 bus:OrdinaryShareClass2 2023-12-31 08717848 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 08717848 core:CurrentFinancialInstruments 2023-12-31 08717848 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08717848 core:Non-currentFinancialInstruments 2023-12-31 08717848 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 08717848 core:FurnitureFittingsToolsEquipment 2023-12-31 08717848 core:MotorVehicles 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08717848

The DEP Group

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

The DEP Group

(Registration number: 08717848)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

142,322

14,391

Current assets

 

Debtors

6

228,066

323,161

Cash at bank and in hand

 

515,295

415,996

 

743,361

739,157

Creditors: Amounts falling due within one year

7

(249,596)

(289,505)

Net current assets

 

493,765

449,652

Total assets less current liabilities

 

636,087

464,043

Creditors: Amounts falling due after more than one year

7

(94,481)

(22,500)

Provisions for liabilities

(3,598)

(3,598)

Net assets

 

538,008

437,945

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

537,808

437,745

Shareholders' funds

 

538,008

437,945

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

The DEP Group

(Registration number: 08717848)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 9 June 2025 and signed on its behalf by:
 

.........................................
Mr Robyn Vincent Davies
Director

.........................................
Mr Neil Robert Hague
Director

 

The DEP Group

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6 Ferranti Court
Gillette Close
Stafford
ST18 0LQ

The principal place of business is:
5 Pendeford Place
Pendeford Business Park
Sidestrand
Wolverhampton
West Midlands
WV9 5HD

These financial statements were authorised for issue by the Board on 9 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover is recognised at the fair value of the consideration received or receivable for the sale of goods and services in the ordinary nature of the business. Turnover is shown net of Value Added Tax, of goods and services provided to customers and, in case of long term contracts, credit is taken appropriate to the stage of completion when the outcome of the contract can be ascertained with reasonable certainty.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accruals of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in amounts recoverable on contracts within debtors, and payments on account in excess of the relevant amount of revenue are included in creditors.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

The DEP Group

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% reducing balance

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

The DEP Group

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

The DEP Group

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2023 - 23).

 

The DEP Group

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

4

4

At 31 December 2024

4

4

Amortisation

At 1 January 2024

4

4

At 31 December 2024

4

4

Carrying amount

At 31 December 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

101,293

-

101,293

Additions

16,786

117,640

134,426

At 31 December 2024

118,079

117,640

235,719

Depreciation

At 1 January 2024

86,902

-

86,902

Charge for the year

4,534

1,961

6,495

At 31 December 2024

91,436

1,961

93,397

Carrying amount

At 31 December 2024

26,643

115,679

142,322

At 31 December 2023

14,391

-

14,391

 

The DEP Group

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

84,138

236,509

Prepayments

34,771

1,824

Other debtors

109,157

84,828

 

228,066

323,161

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

35,251

10,000

Trade creditors

 

34,322

28,456

Taxation and social security

 

104,301

143,670

Accruals and deferred income

 

8,927

4,000

Other creditors

 

66,795

103,379

 

249,596

289,505

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

94,481

22,500

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary of £1 each

100

100

100

100

B Ordinary of £1 each

100

100

100

100

200

200

200

200

 

The DEP Group

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,500

22,500

Hire purchase contracts

81,981

-

94,481

22,500

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Hire purchase contracts

25,251

-

35,251

10,000