General Information
Dibden Purlieu Carpets Limited is a private company, limited by shares, registered in England and Wales, registration number 05661081, registration address 7 Merriemeade Parade, Dibden Purlieu, Southampton, Hampshire, SO45 4PY.
The presentation currency is £ sterling.
| 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)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and 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.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of five years.
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:
| Motor Vehicles |
20% Reducing Balance
|
| Fixtures and Fittings |
10% Reducing Balance
|
Stocks
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 items.
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.
Financial instruments
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.
|
| 2. |
Average number of employees
Average number of employees during the year was 2 (2023 : 2).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Motor Vehicles |
|
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 January 2024 |
18,990 |
|
2,860 |
|
21,850 |
| Additions |
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
| At 31 December 2024 |
18,990 |
|
2,860 |
|
21,850 |
| Depreciation |
| At 01 January 2024 |
316 |
|
1,282 |
|
1,598 |
| Charge for year |
3,735 |
|
158 |
|
3,893 |
| On disposals |
- |
|
- |
|
- |
| At 31 December 2024 |
4,051 |
|
1,440 |
|
5,491 |
| Net book values |
| Closing balance as at 31 December 2024 |
14,939 |
|
1,420 |
|
16,359 |
| Opening balance as at 01 January 2024 |
18,674 |
|
1,578 |
|
20,252 |
|
| 4. |
Stocks
|
2024
£ |
|
2023
£ |
| Stocks |
1,200 |
|
1,200 |
|
1,200 |
|
1,200 |
|
| 5. |
Debtors: amounts falling due within one year
|
2024
£ |
|
2023
£ |
| Trade Debtors |
1,793 |
|
655 |
| Prepayments & Accrued Income |
545 |
|
747 |
| Other Debtors |
1,947 |
|
1,947 |
|
4,285 |
|
3,349 |
|
| 6. |
Creditors: amount falling due within one year
|
2024
£ |
|
2023
£ |
| Trade Creditors |
5,116 |
|
4,887 |
| VAT |
3,365 |
|
(1,000) |
| Corporation Tax |
3,601 |
|
0 |
| PAYE & Social Security |
177 |
|
1,962 |
| Other Creditors |
2,948 |
|
2,778 |
| Directors' Current Accounts |
903 |
|
1,583 |
|
16,110 |
|
10,210 |
|
| 7. |
Provisions for liabilities
|
2024
£ |
|
2023
£ |
| Deferred Tax |
806 |
|
1,040 |
|
806 |
|
1,040 |
|
| 8. |
Share Capital
Allotted, called up and fully paid
|
2024
£ |
|
2023
£ |
|
100
Ordinary shares of £1.00 each |
100 |
|
100 |
|
100 |
|
100 |
|
| 9. |
Related parties
During the year the company entered into the following transactions with related parties: | Transaction value - income/(expenses) | | Balance owed by/(owed to) |
|---|
| 2024
£ | | 2023
£ | | 2024
£ | | 2023
£ |
|---|
| Mr M Stone | 0 | | 0 | | (903) | | (1,583) |
Dividends paid in the year to Mr M Stone (Director) £750 (2023 - £2,973)
|
3
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