CDS Diesels Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09104921 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

CDS Diesels Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S A Dyer

Mrs D Dyer

REGISTERED OFFICE:

c/o Baines & Co

46 Rolle Street

Exmouth

Devon

EX8 2SQ

REGISTERED NUMBER:

09104921 (England and Wales)

ACCOUNTANTS:

Baines & Co

46 Rolle Street

Exmouth

Devon

EX8 2SQ

BANKERS:

Barclays Bank plc

12 Rolle Street

Exmouth

Devon

EX8 1HD

FIXED ASSETS

Intangible assets

4

21,800

23,000

Tangible assets

5

17,066

25,827

38,866

48,827

CURRENT ASSETS

Stocks

6

82,157

53,800

Debtors

7

25,355

35,908

Cash at bank and in hand

2,136

6,903

109,648

96,611

CREDITORS

Amounts falling due within one year

8

91,371

90,802

NET CURRENT ASSETS

18,277

5,809

TOTAL ASSETS LESS CURRENT LIABILITIES

57,143

54,636

CREDITORS

Amounts falling due after more than one year

9

(2,196

)

(7,466

)

PROVISIONS FOR LIABILITIES

10

(2,942

)

(4,906

)

NET ASSETS

52,005

42,264

CAPITAL AND RESERVES

Called up share capital

11

2

2

Retained earnings

12

52,003

42,262

SHAREHOLDERS' FUNDS

52,005

42,264

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 1 November 2021 and were signed on its behalf by:

S A Dyer - Director

Mrs D Dyer - Director

1.	STATUTORY INFORMATION

CDS Diesels 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of twenty five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

15% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

25% on cost

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

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2020

and 30 June 2021

30,000

AMORTISATION

At 1 July 2020

7,000

Amortisation for year

1,200

At 30 June 2021

8,200

NET BOOK VALUE

At 30 June 2021

21,800

At 30 June 2020

23,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2020

18,543

3,622

27,750

8,618

58,533

Additions

633

782

-

1,245

2,660

At 30 June 2021

19,176

4,404

27,750

9,863

61,193

DEPRECIATION

At 1 July 2020

7,279

2,037

16,650

6,740

32,706

Charge for year

3,730

592

5,550

1,549

11,421

At 30 June 2021

11,009

2,629

22,200

8,289

44,127

NET BOOK VALUE

At 30 June 2021

8,167

1,775

5,550

1,574

17,066

At 30 June 2020

11,264

1,585

11,100

1,878

25,827

6.

STOCKS

30.6.21

30.6.20

£

£

Stocks

82,157

53,800

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

23,426

33,805

Prepayments

1,929

2,103

25,355

35,908

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

5,270

5,270

Trade creditors

16,350

7,669

Tax

4,773

4,955

VAT

4,388

3,454

Directors' current accounts

59,375

68,109

Accrued expenses

1,215

1,345

91,371

90,802

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans - 1-2 years

2,196

5,270

Bank loans - 2-5 years

-

2,196

2,196

7,466

10.	PROVISIONS FOR LIABILITIES

30.6.21

30.6.20

£

£

Deferred tax

2,942

4,906

Deferred

tax

£

Balance at 1 July 2020

4,906

Provided during year

(1,964

)

Balance at 30 June 2021

2,942

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

2

Ordinary

1

2

2

12.

RESERVES

Retained

earnings

£

At 1 July 2020

42,262

Profit for the year

13,741

Dividends

(4,000

)

At 30 June 2021

52,003

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £4,000 (2020 - £4,000) were paid to the directors .

14.	POST BALANCE SHEET EVENTS

There have been no events since the balance sheet date which will have a material effect on the financial statements of the company to that date.

15.	ULTIMATE CONTROLLING PARTY

The controlling party is S A Dyer.

The ultimate controlling party is S A Dyer.