DG Product Safety Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08456466 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

DG Product Safety Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R Greaves

Mrs D Greaves

REGISTERED OFFICE:

Laurel Cottage

Hammer Lane

Grayshott

Hindhead

Surrey

GU26 6JD

REGISTERED NUMBER:

08456466 (England and Wales)

ACCOUNTANTS:

Branston Adams

Suite 2, Victoria House

South Street

Farnham

Surrey

GU9 7QU

FIXED ASSETS

Tangible assets

4

1,785

-

CURRENT ASSETS

Debtors

5

24,653

34,047

Cash at bank

11,077

5,308

35,730

39,355

CREDITORS

Amounts falling due within one year

6

36,853

39,220

NET CURRENT (LIABILITIES)/ASSETS

(1,123

)

135

TOTAL ASSETS LESS CURRENT LIABILITIES

662

135

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

562

35

SHAREHOLDERS' FUNDS

662

135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2020 and were signed on its behalf by:

R Greaves - Director

1.	STATUTORY INFORMATION

DG Product Safety Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover consists of income derived from the normal operating activities of the company during the year, net of discounts and VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

50% on cost and 25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 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 the timing difference.

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 liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2019

2,434

4,270

6,704

Additions

940

1,972

2,912

At 31 March 2020

3,374

6,242

9,616

DEPRECIATION

At 1 April 2019

2,434

4,270

6,704

Charge for year

470

657

1,127

At 31 March 2020

2,904

4,927

7,831

NET BOOK VALUE

At 31 March 2020

470

1,315

1,785

At 31 March 2019

-

-

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

11,741

25,975

Directors' current accounts

9,745

8,072

Tax

3,167

-

24,653

34,047

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Tax

19,897

19,891

VAT

15,661

18,035

Accrued expenses

1,295

1,294

36,853

39,220

7.	ULTIMATE CONTROLLING PARTY

The company was under the control of Mr and Mrs Greaves throughout the current and previous year.