| Dainton Lift Services Limited |
| Registered number: |
03570472 |
| Balance Sheet |
| as at 31 May 2023 |
|
| Notes |
|
|
2023 |
|
|
2022 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
86,537 |
|
|
115,381 |
|
| Current assets |
| Debtors |
4 |
|
373,171 |
|
|
121,727 |
| Cash at bank and in hand |
|
|
2,788,124 |
|
|
2,438,884 |
|
|
|
3,161,295 |
|
|
2,560,611 |
|
| Creditors: amounts falling due within one year |
5 |
|
(529,621) |
|
|
(302,755) |
|
| Net current assets |
|
|
|
2,631,674 |
|
|
2,257,856 |
|
| Total assets less current liabilities |
|
|
|
2,718,211 |
|
|
2,373,237 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(19,156) |
|
|
(26,880) |
|
| Provisions for liabilities |
|
|
|
- |
|
|
(2,698) |
|
|
| Net assets |
|
|
|
2,699,055 |
|
|
2,343,659 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
200 |
|
|
200 |
| Profit and loss account |
|
|
|
2,698,855 |
|
|
2,343,459 |
|
| Shareholders' funds |
|
|
|
2,699,055 |
|
|
2,343,659 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| D Learmouth |
| Director |
| Approved by the board on 1 February 2024 |
|
| Dainton Lift Services Limited |
| Notes to the Accounts |
| for the year ended 31 May 2023 |
|
| 1 |
Accounting policies |
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Office equipment |
25% on written down value |
|
Motor vehicles |
25% on written down value |
|
|
Stock and work in progresss |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. |
|
|
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. All differences are charged to profit or loss. |
|
|
| 2 |
Employees |
2023 |
|
2022 |
| Number |
Number |
|
Average number of persons employed by the company |
9 |
|
9 |
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Office equipment |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 June 2022 |
30,384 |
|
201,842 |
|
232,226 |
|
At 31 May 2023 |
30,384 |
|
201,842 |
|
232,226 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2022 |
29,247 |
|
87,598 |
|
116,845 |
|
Charge for the year |
284 |
|
28,560 |
|
28,844 |
|
At 31 May 2023 |
29,531 |
|
116,158 |
|
145,689 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2023 |
853 |
|
85,684 |
|
86,537 |
|
At 31 May 2022 |
1,137 |
|
114,244 |
|
115,381 |
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2023 |
|
2022 |
| £ |
£ |
|
|
Trade debtors |
362,722 |
|
118,491 |
|
Other debtors |
10,449 |
|
3,236 |
|
|
|
|
|
|
373,171 |
|
121,727 |
|
| 5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
7,725 |
|
9,017 |
|
Trade creditors |
271,774 |
|
206,761 |
|
Corporation tax |
157,771 |
|
57,077 |
|
Other taxes and social security costs |
85,031 |
|
22,935 |
|
Other creditors |
7,320 |
|
6,965 |
|
|
|
|
|
|
529,621 |
|
302,755 |
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
19,156 |
|
26,880 |
|
|
|
|
|
|
19,156 |
|
26,880 |
|
|
|
|
|
|
|
|
|
| 7 |
Controlling party |
|
|
The ultimate controlling parties of the company are D. Casey and D. Learmouth jointly. |
|
| 8 |
Other information |
|
Dainton Lift Services Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Unit G, Bromley Industrial Centre |
|
27 Hastings Road |
|
Bromley |
|
Kent |
|
BR2 8NA |
