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Registration number: 06550586

Denton Contractors Groundworks Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2022

 

Denton Contractors Groundworks Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Denton Contractors Groundworks Limited

Company Information

Directors

Mr P Adair

Mr M Adair

Company secretary

Mr P Adair

Registered office

Unit 5, Jupiter House
Calleva Park
Aldermaston
Reading
RG7 8NN

Accountants

Matthews Hanton Limited
Chartered Certified Accountants
93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NW

 

Denton Contractors Groundworks Limited

(Registration number: 06550586)
Balance Sheet as at 31 May 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

294,046

270,949

Current assets

 

Debtors

5

376,802

156,513

Cash at bank and in hand

 

1,213,984

190,590

 

1,590,786

347,103

Creditors: Amounts falling due within one year

6

(352,822)

(157,486)

Net current assets

 

1,237,964

189,617

Total assets less current liabilities

 

1,532,010

460,566

Creditors: Amounts falling due after more than one year

6

-

(83,619)

Net assets

 

1,532,010

376,947

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

1,532,008

376,945

Shareholders' funds

 

1,532,010

376,947

For the financial year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 8 August 2022 and signed on its behalf by:
 

.........................................
Mr P Adair
Company secretary and director

 

Denton Contractors Groundworks Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 5, Jupiter House
Calleva Park
Aldermaston
Reading
RG7 8NN
England

These financial statements were authorised for issue by the Board on 8 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Denton Contractors Groundworks Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant, machinery and vehicles
Land and buildings

25% reducing balance
Nil

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Denton Contractors Groundworks Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2021 - 13).

 

Denton Contractors Groundworks Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Cost or valuation

At 1 June 2021

162,840

10,191

97,271

223,248

Additions

-

-

37,640

29,200

At 31 May 2022

162,840

10,191

134,911

252,448

Depreciation

At 1 June 2021

-

6,117

59,799

156,685

Charge for the year

-

1,020

18,780

23,943

At 31 May 2022

-

7,137

78,579

180,628

Carrying amount

At 31 May 2022

162,840

3,054

56,332

71,820

At 31 May 2021

162,840

4,074

37,472

66,563

Total
£

Cost or valuation

At 1 June 2021

493,550

Additions

66,840

At 31 May 2022

560,390

Depreciation

At 1 June 2021

222,601

Charge for the year

43,743

At 31 May 2022

266,344

Carrying amount

At 31 May 2022

294,046

At 31 May 2021

270,949

Included within the net book value of land and buildings above is £162,840 (2021 - £162,840) in respect of freehold land and buildings.
 

 

Denton Contractors Groundworks Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

5

Debtors

Current

2022
£

2021
£

Trade debtors

376,802

151,953

Other debtors

-

4,560

 

376,802

156,513

 

Denton Contractors Groundworks Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

-

13,746

Trade creditors

 

16,901

55,725

Taxation and social security

 

326,614

32,764

Accruals and deferred income

 

1,000

1,000

Other creditors

 

8,307

54,251

 

352,822

157,486

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

8

-

83,619

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

-

83,619

2022
£

2021
£

Current loans and borrowings

Bank borrowings

-

13,746

 

Denton Contractors Groundworks Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

9

Dividends

   

2022

 

2021

   

£

 

£

Interim dividend of £57,000 (2021 - £71,368) per ordinary share

 

114,000

 

142,736

         

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2022
£

2021
£

Remuneration

17,392

17,264