CDS Diesels Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09104921 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2023

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

19,400

20,600

Tangible assets

5

4,869

9,308

24,269

29,908

CURRENT ASSETS

Stocks

6

82,800

76,681

Debtors

7

62,592

42,870

Cash at bank and in hand

6,616

2,369

152,008

121,920

CREDITORS

Amounts falling due within one year

8

101,232

104,998

NET CURRENT ASSETS

50,776

16,922

TOTAL ASSETS LESS CURRENT LIABILITIES

75,045

46,830

PROVISIONS FOR LIABILITIES

9

731

1,185

NET ASSETS

74,314

45,645

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

11

74,312

45,643

SHAREHOLDERS' FUNDS

74,314

45,645

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 22 September 2023 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 3 (2022 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2022

and 30 June 2023

30,000

AMORTISATION

At 1 July 2022

9,400

Amortisation for year

1,200

At 30 June 2023

10,600

NET BOOK VALUE

At 30 June 2023

19,400

At 30 June 2022

20,600

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2022

21,676

4,404

27,750

10,433

64,263

Additions

233

-

-

785

1,018

At 30 June 2023

21,909

4,404

27,750

11,218

65,281

DEPRECIATION

At 1 July 2022

14,991

3,053

27,750

9,161

54,955

Charge for year

4,346

403

-

708

5,457

At 30 June 2023

19,337

3,456

27,750

9,869

60,412

NET BOOK VALUE

At 30 June 2023

2,572

948

-

1,349

4,869

At 30 June 2022

6,685

1,351

-

1,272

9,308

6.

STOCKS

30.6.23

30.6.22

£

£

Stocks

82,800

76,681

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade debtors

61,074

41,108

Prepayments

1,518

1,762

62,592

42,870

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Bank loans and overdrafts

-

2,196

Trade creditors

2,438

23,472

Tax

8,544

638

Social security and other taxes

66

-

VAT

15,895

5,220

Directors' current accounts

72,562

71,795

Accrued expenses

1,727

1,677

101,232

104,998

9.	PROVISIONS FOR LIABILITIES

30.6.23

30.6.22

£

£

Deferred tax

731

1,185

Deferred

tax

£

Balance at 1 July 2022

1,185

Provided during year

(454

)

Balance at 30 June 2023

731

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.23

30.6.22

value:

£

£

2

Ordinary

1

2

2

11.

RESERVES

Retained

earnings

£

At 1 July 2022

45,643

Profit for the year

32,669

Dividends

(4,000

)

At 30 June 2023

74,312

12.	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.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is S A Dyer.

The ultimate controlling party is S A Dyer.