DP Fabricators Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11517669 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2020

for

DP Fabricators Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Holmes

P Rhodes

SECRETARY:

P Oakes

REGISTERED OFFICE:

Unit 2 Ripley Close

Normanton Industrial Estate

Normanton

WF6 1TB

REGISTERED NUMBER:

11517669 (England and Wales)

ACCOUNTANTS:

Charles Stewart & Co Limited

Chartered Accountants

3 Park Square

Leeds

LS1 2NE

FIXED ASSETS

Tangible assets

4

101,755

31,998

CURRENT ASSETS

Stocks

35,777

68,938

Debtors

5

392,928

124,540

Cash at bank and in hand

23,953

2,223

452,658

195,701

CREDITORS

Amounts falling due within one year

6

330,358

174,458

NET CURRENT ASSETS

122,300

21,243

TOTAL ASSETS LESS CURRENT LIABILITIES

224,055

53,241

CREDITORS

Amounts falling due after more than one year

7

(66,357

)

(8,436

)

PROVISIONS FOR LIABILITIES

(6,080

)

(6,080

)

NET ASSETS

151,618

38,725

CAPITAL AND RESERVES

Called up share capital

9

2

1

Retained earnings

10

151,616

38,724

SHAREHOLDERS' FUNDS

151,618

38,725

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 13 January 2021 and were signed on its behalf by:

D Holmes - Director

P Rhodes - Director

1.	STATUTORY INFORMATION

DP Fabricators 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2019 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 September 2019

23,833

13,395

416

37,644

Additions

87,714

-

-

87,714

At 31 August 2020

111,547

13,395

416

125,358

DEPRECIATION

At 1 September 2019

3,575

2,009

62

5,646

Charge for year

16,196

1,708

53

17,957

At 31 August 2020

19,771

3,717

115

23,603

NET BOOK VALUE

At 31 August 2020

91,776

9,678

301

101,755

At 31 August 2019

20,258

11,386

354

31,998

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 September 2019

and 31 August 2020

13,395

DEPRECIATION

At 1 September 2019

2,009

Charge for year

1,708

At 31 August 2020

3,717

NET BOOK VALUE

At 31 August 2020

9,678

At 31 August 2019

11,386

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

384,697

116,652

Prepayments

8,231

7,888

392,928

124,540

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts

3,378

4,180

Trade creditors

238,261

127,727

Tax

(11,569

)

3,004

Social security and other taxes

62,110

6,827

Directors' current accounts

33,578

28,120

Accrued expenses

4,600

4,600

330,358

174,458

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other loans (see note 8)

50,000

-

Hire purchase contracts

16,357

8,436

66,357

8,436

8.

LOANS

An analysis of the maturity of loans is given below:

2020

2019

£

£

Amounts falling due between two and five years:

Loan creditor

50,000

-

The loan creditor represents a loan under HM Government Coronavirus Bounce Back Loan scheme.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

2

Ordinary

£1

2

1

1 Ordinary share of £1 was allotted and fully paid for cash at par during the year.

10.

RESERVES

Retained

earnings

£

At 1 September 2019

38,724

Profit for the year

112,892

At 31 August 2020

151,616

11.	ULTIMATE CONTROLLING PARTY

The directors consider there to be no ultimate controlling party.