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Financial Statements for the Period 1 June 2021 to 30 April 2022 |
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DRB UK MAINTENANCE LTD |
REGISTERED NUMBER:
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Financial Statements for the Period 1 June 2021 to 30 April 2022 |
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for |
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DRB UK MAINTENANCE LTD |
DRB UK MAINTENANCE LTD (REGISTERED NUMBER: SC315812) |
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Contents of the Financial Statements |
for the Period 1 June 2021 to 30 April 2022 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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DRB UK MAINTENANCE LTD |
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Company Information |
for the Period 1 June 2021 to 30 April 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
29 Brandon Street |
Hamilton |
ML3 6DA |
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BANKERS: |
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Glasgow Chief Office |
PO Box 17235 |
Edinburgh |
EH11 1YH |
DRB UK MAINTENANCE LTD (REGISTERED NUMBER: SC315812) |
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Balance Sheet |
30 April 2022 |
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30/4/22 | 31/5/21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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DRB UK MAINTENANCE LTD (REGISTERED NUMBER: SC315812) |
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Notes to the Financial Statements |
for the Period 1 June 2021 to 30 April 2022 |
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1. | STATUTORY INFORMATION |
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DRB UK Maintenance Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover and revenue recognition |
Turnover is derived from the various activities of the company operating as a contractor. |
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Turnover therefore represents the fair value of work done and service supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
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Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred. |
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Stocks and long term contracts |
Stocks are valued at the lower of cost and expected selling price less costs to complete, after making due allowance for obsolete and slow moving items. |
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Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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Long term contracts are stated at net cost less foreseeable losses less any applicable payments on account. The amount recorded as turnover in respect of long term contracts is ascertained by reference to the value of the work carried out to date. The amount by which measured turnover exceeds the payments received to date on individual contracts is shown within debtors as amounts recoverable on contracts. Attributable profit is recognised as the difference between recorded turnover and related costs. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
DRB UK MAINTENANCE LTD (REGISTERED NUMBER: SC315812) |
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Notes to the Financial Statements - continued |
for the Period 1 June 2021 to 30 April 2022 |
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3. | ACCOUNTING POLICIES - continued |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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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. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 June 2021 |
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Additions |
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At 30 April 2022 |
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DEPRECIATION |
At 1 June 2021 |
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Charge for period |
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At 30 April 2022 |
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NET BOOK VALUE |
At 30 April 2022 |
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At 31 May 2021 |
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DRB UK MAINTENANCE LTD (REGISTERED NUMBER: SC315812) |
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Notes to the Financial Statements - continued |
for the Period 1 June 2021 to 30 April 2022 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/4/22 | 31/5/21 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/4/22 | 31/5/21 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
30/4/22 | 31/5/21 |
£ | £ |
Within one year |
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Between one and five years |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the period ended 30 April 2022 and the year ended 31 May 2021: |
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30/4/22 | 31/5/21 |
£ | £ |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
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This balance was unsecured, interest free and has no fixed repayment terms. |
DRB UK MAINTENANCE LTD (REGISTERED NUMBER: SC315812) |
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Notes to the Financial Statements - continued |
for the Period 1 June 2021 to 30 April 2022 |
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11. | RELATED PARTY DISCLOSURES |
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The company had an intercompany loan balance with its former parent company, Emtec Group Ltd and its subsidiary undertakings. The loan was unsecured, interest free and has no fixed repayment terms. At the year end the company owed £- (2021- £175,989) to Emtec Group Ltd and its subsidiary undertakings. |
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12. | CONTROLLING PARTY |
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The controlling party is TSG UK Solutions Ltd. |
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The ultimate controlling party is
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The company is a subsidiary of TSG UK Solutions Ltd, a company incorporated in the UK. |
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The ultimate controlling party is TSG Holding SAS, a company incorporated in France. |
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Copies of the group financial statements can be obtained from TSG Holding SAS, Centre d'Affaires la Boursidière - 92350 Le Plessis Robinson, France. |