Caseware UK (AP4) 2016.0.181 2016.0.181 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-04-01 04182469 2017-04-01 2018-03-31 04182469 2016-04-01 2017-03-31 04182469 2018-03-31 04182469 2017-03-31 04182469 c:Director2 2017-04-01 2018-03-31 04182469 d:PlantMachinery 2017-04-01 2018-03-31 04182469 d:PlantMachinery 2018-03-31 04182469 d:PlantMachinery 2017-03-31 04182469 d:PlantMachinery d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 04182469 d:MotorVehicles 2017-04-01 2018-03-31 04182469 d:MotorVehicles 2018-03-31 04182469 d:MotorVehicles 2017-03-31 04182469 d:MotorVehicles d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 04182469 d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 04182469 d:Goodwill 2018-03-31 04182469 d:Goodwill 2017-03-31 04182469 d:CurrentFinancialInstruments 2018-03-31 04182469 d:CurrentFinancialInstruments 2017-03-31 04182469 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 04182469 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 04182469 d:ShareCapital 2018-03-31 04182469 d:ShareCapital 2017-03-31 04182469 d:RetainedEarningsAccumulatedLosses 2018-03-31 04182469 d:RetainedEarningsAccumulatedLosses 2017-03-31 04182469 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2018-03-31 04182469 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2017-03-31 04182469 d:AcceleratedTaxDepreciationDeferredTax 2018-03-31 04182469 d:AcceleratedTaxDepreciationDeferredTax 2017-03-31 04182469 c:FRS102 2017-04-01 2018-03-31 04182469 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 04182469 c:FullAccounts 2017-04-01 2018-03-31 04182469 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 iso4217:GBP xbrli:pure
Registered number: 04182469









D M FITCHETT CONSTRUCTION LIMITED

FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018







































 
D M FITCHETT CONSTRUCTION LIMITED
REGISTERED NUMBER: 04182469

BALANCE SHEET
AS AT 31 MARCH 2018

2018
2017
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
-

Tangible assets
 5 
10,922
20,398

  
10,922
20,398

Current assets
  

Debtors: amounts falling due within one year
 6 
19,130
17,892

Cash at bank and in hand
 7 
45,815
16,837

  
64,945
34,729

Creditors: amounts falling due within one year
 8 
(48,357)
(27,723)

Net current assets
  
 
 
16,588
 
 
7,006

Total assets less current liabilities
  
27,510
27,404

Provisions for liabilities
  

Deferred tax
 10 
(1,857)
(3,468)

  
 
 
(1,857)
 
 
(3,468)

Net assets
  
25,653
23,936


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
25,553
23,836

  
25,653
23,936


Page 1

 
D M FITCHETT CONSTRUCTION LIMITED
REGISTERED NUMBER: 04182469
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2018

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 October 2018.




Mr D M Fitchett
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
D M FITCHETT CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1.


General information

D M Fitchett Construction Limited is a Private Limited company incorporated in the United Kingdom. It is registered in England and Wales, company number 04182469. The registered office is Greenwood House, Greenwood Court, Skyliner Way, Bury St Edmunds, Suffolk, IP32 7GY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
D M FITCHETT CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
D M FITCHETT CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
25% - 33% straight line
Motor vehicles
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance sheet date.

Page 5

 
D M FITCHETT CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of income and retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2017 - 4).

Page 6

 
D M FITCHETT CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2017
9,600



At 31 March 2018

9,600



Amortisation


At 1 April 2017
9,600



At 31 March 2018

9,600



Net book value



At 31 March 2018
-



At 31 March 2017
-

Page 7

 
D M FITCHETT CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

5.


Tangible fixed assets





Plant & machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 April 2017
9,863
38,104
47,967


Additions
233
-
233



At 31 March 2018

10,096
38,104
48,200



Depreciation


At 1 April 2017
9,508
18,061
27,569


Charge for the year on owned assets
183
9,526
9,709



At 31 March 2018

9,691
27,587
37,278



Net book value



At 31 March 2018
405
10,517
10,922



At 31 March 2017
355
20,043
20,398


6.


Debtors

2018
2017
£
£


Trade debtors
-
7,893

Prepayments and accrued income
19,130
9,999

19,130
17,892



7.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
45,815
16,837

45,815
16,837


Page 8

 
D M FITCHETT CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

8.


Creditors: Amounts falling due within one year

2018
2017
£
£

Trade creditors
27,729
7,889

Corporation tax
11,744
7,434

Other taxation and social security
6,334
3,098

Other creditors
444
7,789

Accruals and deferred income
2,106
1,513

48,357
27,723



9.


Financial instruments

2018
2017
£
£

Financial assets


Financial assets measured at fair value through profit or loss
45,815
16,837





10.


Deferred taxation




2018


£






At beginning of year
(3,468)


Charged to profit or loss
1,611



At end of year
(1,857)

The provision for deferred taxation is made up as follows:

2018
2017
£
£


Accelerated capital allowances
(1,857)
(3,468)

(1,857)
(3,468)

 
Page 9