Company registration number 06700366 (England and Wales)
SOUTH DARTMOOR CONSTRUCTION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
SOUTH DARTMOOR CONSTRUCTION LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
SOUTH DARTMOOR CONSTRUCTION LIMITED
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
23,770
21,510
Current assets
Stocks
2,580
450
Debtors
4
27,881
5,693
Cash at bank and in hand
20,633
31,188
51,094
37,331
Creditors: amounts falling due within one year
5
(31,031)
(28,408)
Net current assets
20,063
8,923
Total assets less current liabilities
43,833
30,433
Creditors: amounts falling due after more than one year
6
(8,822)
(12,714)
Provisions for liabilities
(4,516)
(4,086)
Net assets
30,495
13,633
Capital and reserves
Called up share capital
7
1,040
1,040
Profit and loss reserves
29,455
12,593
Total equity
30,495
13,633
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
SOUTH DARTMOOR CONSTRUCTION LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023
30 June 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 19 October 2023
Mr M Devenish
Director
Company registration number 06700366 (England and Wales)
SOUTH DARTMOOR CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information
South Dartmoor Construction Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Steam Shop, Pottery Road, Bovey Tracey, Devon, TQ13 9TZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
Revenue is recognised as contract activity progresses so that for incomplete contracts it reflects the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and machinery
20% per annum reducing balance
Computer equipment
25% per annum reducing balance
Motor vehicles
25% per annum reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
SOUTH DARTMOOR CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022
36,567
Additions
7,343
At 30 June 2023
43,910
Depreciation and impairment
At 1 July 2022
15,057
Depreciation charged in the year
5,083
At 30 June 2023
20,140
Carrying amount
At 30 June 2023
23,770
At 30 June 2022
21,510
SOUTH DARTMOOR CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
27,391
5,073
Other debtors
490
620
27,881
5,693
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
3,800
3,800
Trade creditors
3,581
93
Taxation and social security
9,165
5,132
Other creditors
14,485
19,383
31,031
28,408
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
8,822
12,714
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
ordinary "A" shares of £1 each
1,000
1,000
1,000
1,000
ordinary "B" shares of £1 each
10
10
10
10
ordinary "C" shares of £1 each
10
10
10
10
ordinary "D" shares of £1 each
10
10
10
10
ordinary "E" shares of £1 each
10
10
10
10
1,040
1,040
1,040
1,040