DB Commercial Decorators Limited 31/03/2021 iXBRL

DB Commercial Decorators Limited 31/03/2021 iXBRL

DB COMMERCIAL DECORATORS LTD - Company Information

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Company registration number: 10656485
DB Commercial Decorators Limited
Unaudited filleted financial statements
31 March 2021
DB Commercial Decorators Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
DB Commercial Decorators Limited
Directors and other information
Director Mr Darren Bates
Company number 10656485
Registered office Exchange Building
66 Church Street
Hartlepool
TS24 7DN
Accountants Censis
Exchange Building
66 Church Street
Hartlepool
TS24 7DN
DB Commercial Decorators Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of DB Commercial Decorators Limited
Year ended 31 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DB Commercial Decorators Limited for the year ended 31 March 2021 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of DB Commercial Decorators Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of DB Commercial Decorators Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DB Commercial Decorators Limited and its director as a body for our work or for this report.
It is your duty to ensure that DB Commercial Decorators Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of DB Commercial Decorators Limited. You consider that DB Commercial Decorators Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of DB Commercial Decorators Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Censis
Chartered Accountants
Exchange Building
66 Church Street
Hartlepool
TS24 7DN
19 December 2021
DB Commercial Decorators Limited
Statement of financial position
31 March 2021
2021 2020
Note £ £ £ £
Current assets
Debtors 5 72,998 70,799
Cash at bank and in hand 14,967 2,129
_______ _______
87,965 72,928
Creditors: amounts falling due
within one year 6 ( 35,815) ( 35,768)
_______ _______
Net current assets 52,150 37,160
_______ _______
Total assets less current liabilities 52,150 37,160
Creditors: amounts falling due
after more than one year 7 ( 50,000) -
_______ _______
Net assets 2,150 37,160
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 2,140 37,150
_______ _______
Shareholders funds 2,150 37,160
_______ _______
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 December 2021 , and are signed on behalf of the board by:
Mr Darren Bates
Director
Company registration number: 10656485
DB Commercial Decorators Limited
Notes to the financial statements
Year ended 31 March 2021
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Censis, Exchange Building, 66 Church Street, Hartlepool, TS24 7DN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).
5. Debtors
2021 2020
£ £
Other debtors 72,998 70,799
_______ _______
6. Creditors: amounts falling due within one year
2021 2020
£ £
Corporation tax 23,861 30,061
Social security and other taxes 10,354 4,107
Other creditors 1,600 1,600
_______ _______
35,815 35,768
_______ _______
7. Creditors: amounts falling due after more than one year
2021 2020
£ £
Bank loans and overdrafts 50,000 -
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2021
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Darren Bates 8,509 15,429 ( 8,509) 15,429
_______ _______ _______ _______
2020
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Darren Bates 25,182 - ( 16,673) 8,509
_______ _______ _______ _______
9. Controlling party
For the whole year the company was under the control of the directors.