Company registration number 07718901 (England and Wales)
DJB CONSTRUCTION SOUTH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
DJB CONSTRUCTION SOUTH LIMITED
BALANCE SHEET
1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,270
Current assets
Stocks
34,757
9,000
Debtors
4
86,562
71,070
Cash at bank and in hand
31,285
27,784
152,604
107,854
Creditors: amounts falling due within one year
5
(147,500)
(93,275)
Net current assets
5,104
14,579
Net assets
5,104
15,849
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
5,103
15,848
Total equity
5,104
15,849
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 members have 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.
DJB CONSTRUCTION SOUTH LIMITED
BALANCE SHEET (CONTINUED)
2
The financial statements were approved and signed by the director and authorised for issue on 3 August 2023
Mr D Osborne-Brown
Director
Company Registration No. 07718901
DJB CONSTRUCTION SOUTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
3
1
Accounting policies
Company information
DJB Construction South Limited is a private company limited by shares incorporated in England and Wales. The registered office is 25 Hursley Road, Chandler's Ford, Eastleigh, Hampshire, SO53 2FS.
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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% Straight line
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.
DJB CONSTRUCTION SOUTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies (Continued)
4
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
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.
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.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
DJB CONSTRUCTION SOUTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
5
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
3
3
Tangible fixed assets
Computers
£
Cost
At 1 July 2022
1,376
Disposals
(1,376)
At 30 June 2023
Depreciation and impairment
At 1 July 2022
106
Depreciation charged in the year
348
Eliminated in respect of disposals
(454)
At 30 June 2023
Carrying amount
At 30 June 2023
At 30 June 2022
1,270
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
5,975
22,976
Amounts owed by group undertakings
39,903
Other debtors
80,587
8,191
86,562
71,070
DJB CONSTRUCTION SOUTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
6
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
61,604
43,542
Amounts owed to group undertakings
6,291
Corporation tax
49,743
21,386
Other taxation and social security
21,324
4,581
Other creditors
8,538
23,766
147,500
93,275
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
7
Controlling party
The parent company of DJB Construction South Limited is Osborne-Brown Limited and its registered office is 25 Hursley Road, Chandlers Ford, Eastleigh, Hampshire SO53 2FS