D P Services Machine Removals Limited
|
Registered Number
:
05225612
|
For the year ended 30 September 2021
England and Wales
Unaudited Financial Statements
For the year ended 30 September 2021
D P Services Machine Removals Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
D P Services Machine Removals Limited
Statement of Financial Position
2020
2021
Property
,
plant and equipment
|
487,824
587,786
2
487,824
587,786
Trade and other receivables
|
334,841
318,876
4
36,817
Cash and cash equivalents
|
64,741
383,617
371,658
Trade and other payables
:
amounts falling due within one
|
year
|
(341,745)
(296,215)
5
29,913
87,402
Net current assets
Total assets less current liabilities
|
575,226
617,699
Trade and other payables
:
amounts falling due after more
|
than one year
|
(273,998)
(219,144)
6
(95,000)
(109,000)
Provisions for liabilities
|
261,082
Net assets
234,701
200
200
260,882
234,501
261,082
234,701
Shareholders' funds
For the year ended 30 September 2021 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006
|
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
These financial statements were approved and authorised for issue by the Board on 28 June 2022 and were signed by:
|
The notes form part of these financial statements
|
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For the year ended 30 September 2021
D P Services Machine Removals Limited
Notes to the Financial Statements
Statutory Information
D P Services Machine Removals Limited is a private limited company
,
limited by shares
,
domiciled in England and
|
Wales
,
registration number
05225612
.
|
The Cottage
5 Birley Lane
Sheffield
S12 3BP
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial
|
Reporting Standard
102
''
The Financial Reporting Standard applicable in the UK and Republic of Ireland
''
and the
|
Companies Act
2006
.
The financial statements have been prepared under the historical costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Turnover is recognised on the completion of each large contract assignment or small job, in accordance with the contract terms.
|
Property, plant and equipment
Property, plant and equipment, 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:
|
Land and Buildings
Plant and Machinery
Motor Vehicles
Furniture and Fittings
Land
&
buildings are depreciated at
2
%
straight line because residual values are considered to be most accurately
|
reflected using this method
.
|
Government grants
Government Covid-19 support grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
|
Deferred tax
Deferred tax is recognised in respect of all timing differences that have orginated but not reversed at the statement of financial position 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 the 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 timing differences. 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 laibilities or furture profits.
|
2 of 5
For the year ended 30 September 2021
D P Services Machine Removals Limited
Notes to the Financial Statements Continued
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 estimaed 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 the profit and loss account over the relevant period, calculated using the sum of digits method. The capital element of the future payments is treated as a liability. Rentals under operating leases are charged to the profit and loss account as incurred.
|
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
|
Debtors and creditors due within one year
Debtors and creditors with no stated interest rate
,
which are due within one year
,
are stated at the transcation price
.
|
Any losses arising from impairment are recognised in the statement of comprehensive income within administrative
|
expenses
.
|
Impairment
At each balance sheet date
,
assets are reviewed to determine whether there is any indication that any of the
|
individual assets have suffered an impairment
.
If such indication exists
,
the recoverable amount of the asset
,
or the
|
assest cash generating unit
,
is estimated and compared to the carrying amount
.
Where the carrying amount exceeds
|
its recoverable amount
,
an impairment loss is recognised in the statement of comprehensive income
.
|
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a
|
past event
,
and that it is probable that an outflow of economic benefits will be required to settle the obligation and a
|
reliable estimate can be made
.
Provisions are measured at the present value of expenditure expected to be required
|
to settle the obligstion
,
taking the risks and uncertainties surrounding the obligation
.
|
2
.
Property
,
plant and equipment
|
Motor Vehicles
1,205,731
33,793
341,702
778,443
51,793
10,135
-
-
10,135
-
-
(1,250)
(83,422)
-
(84,672)
705,156
340,452
33,793
1,131,194
51,793
Provision for depreciation and impairment
|
617,945
21,940
205,708
385,731
4,566
Charge for year
93,915
1,778
33,980
57,121
1,036
(68,490)
-
(1,180)
(67,310)
-
643,370
23,718
238,508
375,542
5,602
46,191
329,614
101,944
10,075
487,824
47,227
392,712
135,994
11,853
587,786
3 of 5
For the year ended 30 September 2021
D P Services Machine Removals Limited
Notes to the Financial Statements Continued
The net book value of Plant
&
Machinery
,
of £
329
,
614
,
includes £
292
,
561
in respect of Plant
&
Machinery under hire
|
purchase contracts
.
|
The net book value of Motor Vehicles
,
of £
101
,
944
,
includes £
77
,
504
in respect of Motor Vehicles under hire purchase
|
contracts
.
|
The depreciation charge for the year includes £
51
,
628
in respect of Plant under hire purchase contracts
,
and
,
£
26
,
331
|
in respect of Motor Vehicles under hire purchase contracts
.
|
Income on contracts that are on-going at the year end, is recognised when the outcome of the contracts can be assessed with reasonable certainty, and is the amount which is estimated to fairly reflect the income arising up to the year end date.
|
4
.
Trade and other receivables
|
2020
2021
287,615
329,594
31,261
5,247
334,841
318,876
5
.
Trade and other payables
:
amounts falling due within one year
|
2020
2021
4,000
-
40,927
163,728
Taxation and social security
|
126,688
43,947
124,600
134,070
296,215
341,745
6
.
Trade and other payables
:
amounts falling due after more than one year
|
2020
2021
46,000
-
173,144
273,998
219,144
273,998
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For the year ended 30 September 2021
D P Services Machine Removals Limited
Notes to the Financial Statements Continued
7
.
Guarantees and other financial commitments
|
Guarantees and contingent assets and liabilities
|
The company
'
s hire purchase agreements are secured on the plant and vehicles for which the finance was
|
originally provided
.
|
During the year ended 30th September 2021 and subsequetly, the coronavirus pandemic has continued to mutate and spread across the world. As such, the Directors remained aware of the emergency business support measures announced by the UK government, and the company has taken advantage of the measues, where deemed appropriate. The Directors continously monitor the company's trading position and firmly believe that the company will continue to trade profitably for the foreseeable future.
|
9
.
Average number of persons employed
|
During the year the average number of employees was 10 (2020 : 9)
5 of 5