| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| DWINEX SHEET METAL LTD |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| DWINEX SHEET METAL LTD |
| DWINEX SHEET METAL LTD (REGISTERED NUMBER: 06860368) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| DWINEX SHEET METAL LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Room 73 |
| Wrest House |
| Wrest Park |
| Silsoe |
| Bedfordshire |
| MK45 4HR |
| DWINEX SHEET METAL LTD (REGISTERED NUMBER: 06860368) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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 were approved by the director and authorised for issue on |
| DWINEX SHEET METAL LTD (REGISTERED NUMBER: 06860368) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Dwinex Sheet Metal Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| During the year the company made of a profit after tax of £1,395 and had a net deficiency in reserves of £77,405 at the balance sheet date. |
| After making enquires, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the director continues to adopt the going concern basis in preparing the financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable and represents the amounts receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| DWINEX SHEET METAL LTD (REGISTERED NUMBER: 06860368) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Business bounce back loan scheme |
| The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak. The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000. The government guarantees 100% of the loan and there are no fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% per annum. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and | Motor | Computer |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' loan account | - | 31,191 |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| VAT | 28,097 | 47,620 |
| Other creditors |
| Directors' loan account | 4,298 | - |
| Accruals and deferred income |
| DWINEX SHEET METAL LTD (REGISTERED NUMBER: 06860368) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
| The bank overdraft is unsecured. |
| Obligations held under hire purchase and finance lease agreements are secured on the assets concerned. |
| The bank loan is 100% guaranteed by the government in line with the COVID scheme rules, being charged at 0% interest in year one and 2.5% per annum thereafter. |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 1-2 years |
| The bank loan is 100% guaranteed by the government in line with the COVID scheme rules, being charged at 0% interest in year one and 2.5% per annum thereafter. |
| 9. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 6,195 | 6,347 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2024 |
| Capital allowances in excess |
| of depreciation | (152 | ) |
| Balance at 31 December 2024 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £0.25 | 1 | 1 |
| 11. | RELATED PARTY DISCLOSURES |
| Included within creditors is an amount of £4,298 (2023: debtor £31,191) due to L D Williams, director. Interest of £Nil (2023: £1,485) was charged on this balance during the year at a rate of 0% (2023: 5%). There are no set repayment terms. |