REGISTERED NUMBER: 05669217 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2024

for

D & G TRUCKS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D G Harding

REGISTERED OFFICE:

AKS Advisers

Fourth & Fifth Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

REGISTERED NUMBER:

05669217 (England and Wales)

ACCOUNTANTS:

AKS Advisers

14-15 Lower Grosvenor Place

London

SW1W 0EX

FIXED ASSETS

Tangible assets

4

820,505

1,010,461

CURRENT ASSETS

Debtors

5

1,045,839

617,592

Cash at bank and in hand

140,736

110,903

1,186,575

728,495

CREDITORS

Amounts falling due within one year

6

2,042,831

1,616,304

NET CURRENT LIABILITIES

(856,256

)

(887,809

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(35,751

)

122,652

CREDITORS

Amounts falling due after more than one year

7

(197,190

)

(356,426

)

PROVISIONS FOR LIABILITIES

(47,970

)

(47,970

)

NET LIABILITIES

(280,911

)

(281,744

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(280,913

)

(281,746

)

SHAREHOLDERS' FUNDS

(280,911

)

(281,744

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 October 2025 and were signed by:

Mr D G Harding - Director

1.	STATUTORY INFORMATION

D & G Trucks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A Small Entities of Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Level of rounding

The figures presented in the financial statements are rounded to the nearest pound.

Going concern

The company continues to be confident about the outlook for the business, with the group remaining well positioned to deliver sustainable growth over the medium to long term. Customer trading activity remained buoyant throughout the year.

The company has reported net current liabilities for the year ended 31 October 2024 amounting to (£280,911) \2023: (£281,744)\.

The company meets its day-to-day working capital requirements through its bank and loan facilities. The company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the company should be able to operate within the level of its current facilities. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Plant and machinery

-25%

-reducing balance

Motor vehicle

-10%

-reducing balance on light commercial vehicles

-5%

-reducing balance on heavy commercial vehicles

Fixtures & fittings

-15%

-on cost

Computer equipment

-20%

-on cost

Financial instruments

a) Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

b) Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

c) Cash at bank and in hand

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

d) Interest income

Interest income is recognised in profit or loss using the effective interest method.

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 tax

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 November 2023

167,746

48,500

1,482,924

13,232

1,712,402

Additions

26,486

128

11,648

-

38,262

Disposals

-

-

(239,010

)

-

(239,010

)

At 31 October 2024

194,232

48,628

1,255,562

13,232

1,511,654

DEPRECIATION

At 1 November 2023

145,075

48,500

499,016

9,350

701,941

Charge for year

12,286

19

20,267

971

33,543

Eliminated on disposal

-

-

(44,335

)

-

(44,335

)

At 31 October 2024

157,361

48,519

474,948

10,321

691,149

NET BOOK VALUE

At 31 October 2024

36,871

109

780,614

2,911

820,505

At 31 October 2023

22,671

-

983,908

3,882

1,010,461

The leased assets are generally classified as finance leases as the rental period amounts to the estimated useful economic life of the assets concerned and often the company has the right to purchase the assets outright at the end of the minimum lease term by paying a nominal amount.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Trade debtors

123,809

108,676

Amounts owed by group undertakings

705,103

393,484

Other debtors

216,927

115,432

1,045,839

617,592

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Bank loans and overdrafts

6,600

6,601

Trade creditors

205,791

59,450

Amounts owed to group undertakings

1,178,086

764,619

Taxation and social security

73,075

58,622

Other creditors

579,279

727,012

2,042,831

1,616,304

Other creditors include directors loan of £491,230 (2023: £522,719).

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.24

31.10.23

£

£

Bank loans

26,912

31,050

Other creditors

170,278

325,376

197,190

356,426

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.24

31.10.23

£

£

HP loans

30,569

280,183

The loans hold fixed & floating charges over certain assets of the company.

9.	ULTIMATE CONTROLLING PARTY