Registered number: 6083161 | ||||||||
FOR THE YEAR ENDED 31/03/2023 | ||||||||
Prepared By: | ||||||||
Gibsons Accountants Ltd | ||||||||
Chartered Accountants | ||||||||
226 Oldham Road | ||||||||
Rochdale | ||||||||
Lancashire | ||||||||
OL11 2ER |
DGS Motors Ltd | ||||||||
UNAUDITED FINANCIAL STATEMENTS | ||||||||
FOR THE YEAR ENDED 31/03/2023 | ||||||||
DIRECTORS | ||||||||
SECRETARY | ||||||||
Miss K G Royds | ||||||||
REGISTERED OFFICE | ||||||||
Lancashire | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 6083161 | ||||||||
ACCOUNTANTS | ||||||||
Gibsons Accountants Ltd | ||||||||
Chartered Accountants | ||||||||
226 Oldham Road | ||||||||
Rochdale | ||||||||
Lancashire | ||||||||
OL11 2ER |
DGS Motors Ltd | ||||||||
UNAUDITED FINANCIAL STATEMENTS | ||||||||
FOR THEYEARENDED31/03/2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
DGS Motors Ltd | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 4 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 6 | |||||||||
Cash at bank and in hand | ||||||||||
64,800 | 64,285 | |||||||||
CREDITORS: Amounts falling due within one year | 7 | |||||||||
NET CURRENT ASSETS | 48,272 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 8 | 21,740 | 31,446 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 9 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 10 | |||||||||
Profit and loss account | 27,041 | 21,481 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
DGS Motors Ltd | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/03/2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Equipment | straight line 10% | |||||||
Motor Cars | reducing balance 25% |
1c. Stocks | ||||||||
Stocks are valued by the director at the lower of cost and net realisable value. |
1d. Taxation | ||||||||
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
1e. Goodwill | ||||||||
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life of 10 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable. | ||||||||
1f. Government Grants | ||||||||
Government grants are recognised at fair value when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants related to purchase of assets are treated as deferred income and allocated to income statement over the useful lives of the related assets while grants related to expenses are treated as other income in the income statement. |
1g. Revenue Recognition | ||||||||
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed. |
2. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 2 | |||||
DGS Motors Ltd | ||||||||
3. INTANGIBLE FIXED ASSETS | ||||
Purchased | ||||
Goodwill | Total | |||
£ | £ | |||
Cost | ||||
At 01/04/2022 | 4,500 | 4,500 | ||
At 31/03/2023 | 4,500 | 4,500 | ||
Depreciation | ||||
At 01/04/2022 | 4,500 | 4,500 | ||
At 31/03/2023 | 4,500 | 4,500 | ||
Net Book Amounts | ||||
At 31/03/2023 | ||||
4. TANGIBLE FIXED ASSETS | ||||||||
Fixtures | ||||||||
and Fittings | Equipment | Motor Cars | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 01/04/2022 | 490 | 34,383 | 3,000 | 37,873 | ||||
Additions | - | 47 | - | 47 | ||||
At 31/03/2023 | 490 | 34,430 | 3,000 | 37,920 | ||||
Depreciation | ||||||||
At 01/04/2022 | 490 | 29,896 | 1,739 | 32,125 | ||||
For the year | - | 3,443 | 315 | 3,758 | ||||
At 31/03/2023 | 490 | 33,339 | 2,054 | 35,883 | ||||
Net Book Amounts | ||||||||
At 31/03/2023 | 2,037 | |||||||
At 31/03/2022 | 5,748 | |||||||
5. STOCK | 2023 | 2022 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
6. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 3,881 | - | ||||||
3,881 | - | |||||||
DGS Motors Ltd | ||||||||
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
UK corporation tax | 2,622 | 1,857 | ||||||
VAT | 1,837 | 678 | ||||||
PAYE control | 361 | 1,044 | ||||||
Bank Loan | 10,648 | 10,648 | ||||||
Trade creditors | 1,000 | 756 | ||||||
Accruals | 1,200 | 1,030 | ||||||
17,668 | 16,013 | |||||||
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans (unsecured) >1yr | 21,740 | 31,446 | ||||||
21,740 | 31,446 | |||||||
9. PROVISIONS FOR LIABILITIES | 2023 | 2022 | ||||||
£ | £ | |||||||
Deferred taxation | 387 | 1,092 | ||||||
387 | 1,092 | |||||||
10. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
1 | 1 | |||||||
1 | 1 | |||||||
11. CONTROLLING PARTY | ||||||||
The company is controlled by Mr D. Stead (director) by virtue of him owning 100% of the company share capital. | ||||||||