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No description of principal activity
2019-04-01
Sage Accounts Production Advanced 2020 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
01102229
2019-04-01
2020-03-31
01102229
2020-03-31
01102229
2019-03-31
01102229
2018-04-01
2019-03-31
01102229
2019-03-31
01102229
core:PlantMachinery
2019-04-01
2020-03-31
01102229
core:FurnitureFittings
2019-04-01
2020-03-31
01102229
core:MotorVehicles
2019-04-01
2020-03-31
01102229
bus:Director2
2019-04-01
2020-03-31
01102229
core:PlantMachinery
2019-03-31
01102229
core:FurnitureFittings
2019-03-31
01102229
core:MotorVehicles
2019-03-31
01102229
core:PlantMachinery
2020-03-31
01102229
core:FurnitureFittings
2020-03-31
01102229
core:MotorVehicles
2020-03-31
01102229
core:WithinOneYear
2020-03-31
01102229
core:WithinOneYear
2019-03-31
01102229
core:AfterOneYear
2020-03-31
01102229
core:ShareCapital
2020-03-31
01102229
core:ShareCapital
2019-03-31
01102229
core:RetainedEarningsAccumulatedLosses
2020-03-31
01102229
core:RetainedEarningsAccumulatedLosses
2019-03-31
01102229
core:PlantMachinery
2019-03-31
01102229
core:FurnitureFittings
2019-03-31
01102229
core:MotorVehicles
2019-03-31
01102229
bus:SmallEntities
2019-04-01
2020-03-31
01102229
bus:Audited
2019-04-01
2020-03-31
01102229
bus:FullAccounts
2019-04-01
2020-03-31
01102229
bus:SmallCompaniesRegimeForAccounts
2019-04-01
2020-03-31
01102229
bus:PrivateLimitedCompanyLtd
2019-04-01
2020-03-31
COMPANY REGISTRATION NUMBER:
01102229
Design Installation Service Limited
|
|
Filleted Financial Statements
|
|
Design Installation Service Limited
|
|
Statement of Financial Position
|
|
31 March 2020
Fixed assets
Tangible assets
|
5
|
80,155
|
67,690
|
|
|
|
|
Current assets
Stocks
|
320,535
|
421,907
|
Debtors
|
6
|
2,193,323
|
1,687,496
|
Cash at bank and in hand
|
23,396
|
113,496
|
|
------------
|
------------
|
|
2,537,254
|
2,222,899
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
2,309,777
|
2,092,153
|
|
------------
|
------------
|
Net current assets
|
227,477
|
130,746
|
|
---------
|
---------
|
Total assets less current liabilities
|
307,632
|
198,436
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
8
|
11,397
|
–
|
|
|
|
|
Provisions
|
(
4,207)
|
(
1,564)
|
|
---------
|
---------
|
Net assets
|
300,442
|
200,000
|
|
---------
|
---------
|
|
|
|
Capital and reserves
Called up share capital
|
50,000
|
50,000
|
Profit and loss account
|
250,442
|
150,000
|
|
---------
|
---------
|
Shareholders funds
|
300,442
|
200,000
|
|
---------
|
---------
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
5 January 2021
, and are signed on behalf of the board by:
Company registration number:
01102229
Design Installation Service Limited
|
|
Notes to the Financial Statements
|
|
Year ended 31 March 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Staverton Technology Park , Herrick Way, Staverton, Cheltenham, Gloucestershire, GL51 6TQ, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company depends on the support provided by its ultimate parent company D.I.S Limited. D.I.S Limited has confirmed its willingness to provide financial support for the foreseeable future, that being a period of not less than twelve months from the date of approval of these financial statements. Current forecasts suggest the company will be profitable for the foreseeable future and the group will have sufficient financial resources to fund the trading activities, therefore the financial statements have been drawn up on the going concern basis and do not include the adjustments that would result if the company was unable to continue trading.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Long-term contracts
Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Vaule Added Taxation and trade discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant & machinery
|
-
|
10% straight line
|
|
Fixtures & fittings
|
-
|
10% straight line
|
|
Motor vehicles
|
-
|
2% straight line
|
|
Equipment
|
-
|
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
22
(2019:
22
).
5.
Tangible assets
|
Plant and machinery
|
Fixtures and fittings
|
Motor vehicles
|
Equipment
|
Total
|
|
£
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
|
At 1 April 2019
|
35,684
|
1,146
|
147,191
|
|
260,693
|
Additions
|
–
|
–
|
60,356
|
|
61,546
|
|
--------
|
-------
|
---------
|
--------
|
---------
|
At 31 March 2020
|
35,684
|
1,146
|
207,547
|
|
322,239
|
|
--------
|
-------
|
---------
|
--------
|
---------
|
Depreciation
|
|
|
|
|
|
At 1 April 2019
|
31,624
|
345
|
88,949
|
|
193,003
|
Charge for the year
|
730
|
115
|
44,036
|
|
49,081
|
|
--------
|
-------
|
---------
|
--------
|
---------
|
At 31 March 2020
|
32,354
|
460
|
132,985
|
|
242,084
|
|
--------
|
-------
|
---------
|
--------
|
---------
|
Carrying amount
|
|
|
|
|
|
At 31 March 2020
|
3,330
|
686
|
74,562
|
|
80,155
|
|
--------
|
-------
|
---------
|
--------
|
---------
|
At 31 March 2019
|
4,060
|
801
|
58,242
|
|
67,690
|
|
--------
|
-------
|
---------
|
--------
|
---------
|
|
|
|
|
|
|
6.
Debtors
|
2020
|
2019
|
|
£
|
£
|
Trade debtors
|
1,777,261
|
1,683,871
|
Other debtors
|
416,062
|
3,625
|
|
------------
|
------------
|
|
2,193,323
|
1,687,496
|
|
------------
|
------------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2020
|
2019
|
|
£
|
£
|
Trade creditors
|
966,320
|
991,471
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
1,088,645
|
601,360
|
Corporation tax
|
1,213
|
–
|
Social security and other taxes
|
201,372
|
273,474
|
Other creditors
|
|
|
Other creditors
|
38,308
|
224,221
|
|
------------
|
------------
|
|
2,309,777
|
2,092,153
|
|
------------
|
------------
|
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2020
|
2019
|
|
£
|
£
|
Other creditors
|
11,397
|
–
|
|
--------
|
----
|
|
|
|
9.
Summary audit opinion
The auditor's report for the year dated 5 January 2021 was unqualified.
The senior statutory auditor was
James Harper
, for and on behalf of
Harper Sheldon Limited
.
10.
Related party transactions
The company has taken advantage of the exemption under FRS8 from reporting transactions entered into with group companies since the company's results are included in consolidated financial statements which are publicly available.
11.
Controlling party
The ultimate parent undertaking and controlling party is D.I.S Limited, a company registered in England and Wales. A copy of the group financial statements is available from Companies House, Cardiff. The immediate parent undertaking is DIS Holdings Limited, a company registered in England and Wales. A copy of that company's financial statements is available from Companies House, Cardiff.