Company Registration No. 03348553 (England and Wales)
DC Automobiles Limited
Unaudited accounts
for the year ended 30 April 2020
DC Automobiles Limited
Unaudited accounts
Contents
DC Automobiles Limited
Company Information
for the year ended 30 April 2020
Company Number
03348553 (England and Wales)
Registered Office
41-43 Nork Way
Banstead
Surrey
SM7 1PB
Accountants
Maddox & Maddox Ltd
4 Spire Place
Warlingham
Surrey
CR6 9LW
DC Automobiles Limited
Statement of financial position
as at 30 April 2020
Tangible assets
53,412
62,270
Inventories
873,902
628,115
Cash at bank and in hand
1,046,556
1,241,206
Creditors: amounts falling due within one year
(146,687)
(92,113)
Net current assets
1,823,188
1,853,539
Total assets less current liabilities
1,876,600
1,915,809
Provisions for liabilities
Deferred tax
(5,006)
(6,660)
Net assets
1,871,594
1,909,149
Called up share capital
1,000
1,000
Profit and loss account
1,870,594
1,908,149
Shareholders' funds
1,871,594
1,909,149
For the year ending 30 April 2020 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 September 2020 and were signed on its behalf by
D R Cobbett
Director
Company Registration No. 03348553
DC Automobiles Limited
Notes to the Accounts
for the year ended 30 April 2020
DC Automobiles Limited is a private company, limited by shares, registered in England and Wales, registration number 03348553. The registered office is 41-43 Nork Way, Banstead, Surrey, SM7 1PB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
33% On Cost
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
DC Automobiles Limited
Notes to the Accounts
for the year ended 30 April 2020
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 May 2019
26,367
1,234
52,986
14,275
7,140
102,002
At 30 April 2020
26,367
1,234
52,986
14,275
7,557
102,419
At 1 May 2019
-
917
19,340
12,688
6,787
39,732
Charge for the year
-
79
8,411
397
388
9,275
At 30 April 2020
-
996
27,751
13,085
7,175
49,007
At 30 April 2020
26,367
238
25,235
1,190
382
53,412
At 30 April 2019
26,367
317
33,646
1,587
353
62,270
Finished goods
873,902
628,115
Trade debtors
47,034
72,045
Accrued income and prepayments
2,383
4,286
7
Creditors: amounts falling due within one year
2020
2019
Trade creditors
24,902
6,409
Taxes and social security
15,084
4,684
Other creditors
1,542
4,685
Loans from directors
93,000
52,400
8
Capital commitments
2020
2019
Amounts contracted but not provided for in the accounts
1,396
941
The company has entered into a financial commitment relating to a courtesy car, there are 8 payments of £174.54 outstanding as at 30 April 2020 totalling £1,396.32
DC Automobiles Limited
Notes to the Accounts
for the year ended 30 April 2020
9
Transactions with related parties
DC Automobiles Ltd is charged rent of £12,000 per annum as the business which DC Automobiles Ltd operates from are owned by a pension company of which D Cobbett the director of DC Automobiles Ltd is a trustee of.
10
Average number of employees
During the year the average number of employees was 6 (2019: 8).
