REGISTERED NUMBER: |
DUNCAN CAMERON & HUTCHINSON LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
REGISTERED NUMBER: |
DUNCAN CAMERON & HUTCHINSON LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
DUNCAN CAMERON & HUTCHINSON LIMITED (REGISTERED NUMBER: 00487967) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
DUNCAN CAMERON & HUTCHINSON LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
Darland House |
44 Winnington Hill |
Northwich |
Cheshire |
CW8 1AU |
DUNCAN CAMERON & HUTCHINSON LIMITED (REGISTERED NUMBER: 00487967) |
BALANCE SHEET |
28 FEBRUARY 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium |
Revaluation reserve | 11 |
Capital redemption reserve |
Profit and loss account |
SHAREHOLDERS' FUNDS |
DUNCAN CAMERON & HUTCHINSON LIMITED (REGISTERED NUMBER: 00487967) |
BALANCE SHEET - continued |
28 FEBRUARY 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
DUNCAN CAMERON & HUTCHINSON LIMITED (REGISTERED NUMBER: 00487967) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
1. | STATUTORY INFORMATION |
Duncan Cameron & Hutchinson Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Duncan Cameron & Hutchinson Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover represents the amount receivable for goods sold and services rendered, excluding Value Added Tax. |
Long-term contracts are assessed on a contract by contract basis and are reflected in the profit and loss account by comparing turnover and related costs with contract activity. Where it is considered that the outcome of a long-term contract can be assessed with reasonable certainty before its conclusion the attributable profit is recognised in the profit and loss account as the difference between the reported turnover and related costs for that contract. |
Long-term contract balances |
Long-term contract balances are valued at direct costs incurred to date plus attributable production overheads, net of amounts transferred to cost of sales and after deducting foreseeable losses and payments on account not matched with turnover. |
Tangible fixed assets |
Freehold property | - |
Plant, equipment and tools | - |
Motor vehicles | - |
Office equipment | - |
Freehold property is included at fair value at the date of the most recent valuation, less any subsequent accumulated depreciation. Gains are recognised in other comprehensive income and accumulated in the revaluation reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
Freehold land is not depreciated. |
Investments in subsidiaries |
Investments in subsidiary undertakings are initially recognised at cost. After initial recognition, investments in subsidiary undertakings are measured at cost less any accumulated impairment losses. |
DUNCAN CAMERON & HUTCHINSON LIMITED (REGISTERED NUMBER: 00487967) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to the profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Pension costs |
The company makes contributions to employees' personal pension schemes. Contributions payable for the year are charged in the profit and loss account. |
Deferred taxation |
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. |
Tax deferred or accelerated is accounted for in respect of all material timing differences. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant, |
Freehold | equipment | Motor | Office |
property | and tools | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 March 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 28 February 2023 |
DEPRECIATION |
At 1 March 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
Included in cost or valuation of land and buildings is freehold land of £ 144,000 (2022 - £ 144,000 ) which is not depreciated. |
DUNCAN CAMERON & HUTCHINSON LIMITED (REGISTERED NUMBER: 00487967) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 28 February 2023 is represented by: |
Plant, |
Freehold | equipment | Motor | Office |
property | and tools | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
Valuation in 2022 | 114,725 | - | - | - | 114,725 |
Cost | 465,275 | 180,883 | 359,184 | 44,170 | 1,049,512 |
580,000 | 180,883 | 359,184 | 44,170 | 1,164,237 |
Freehold property was valued on an open market basis on 15 June 2021 by Joscelyne Chase Property Consultants . |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 March 2022 |
and 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
6. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Gross amounts due from customers for contract work |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Directors' current accounts |
Prepayments |
Amounts falling due after more than one year: |
Trade debtors |
Aggregate amounts |
DUNCAN CAMERON & HUTCHINSON LIMITED (REGISTERED NUMBER: 00487967) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Corporation tax |
Social security and other taxes |
Other creditors |
Gross amounts due to customers for contract work |
Accruals |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Hire purchase contracts | 131,765 | 137,018 |
The bank holds a first legal charge over the property owned by the company, together with a fixed and floating charge over the assets of the company. |
Hire purchase contracts are secured on the assets to which they relate. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 12,500 | 12,500 |
11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 March 2022 |
and 28 February 2023 |
DUNCAN CAMERON & HUTCHINSON LIMITED (REGISTERED NUMBER: 00487967) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
14. | RELATED PARTY DISCLOSURES |
The company is a wholly owned subsidiary of DC&H Holdings Limited. The registered office and principal place of business of the parent company is Eastern House, Priors Way, Coggeshall, Colchester, Essex, CO6 1TW. |
The ultimate parent company from 31 March 2023 is PL Holdings Eastern Ltd. The registered office and principal place of business of the ultimate parent company is Eastern House, Priors Way, Coggeshall, Essex, CO6 1TW. |
15. | POST BALANCE SHEET EVENTS |
On 31 March 2023 100% of the issued share capital in the ultimate parent company, BHK Holdings Limited, was acquired by PL Holdings Eastern Ltd. |
After the balance sheet date dividends of £2,148,000 were declared and paid to the parent company, DC&H Holdings Limited. |