Company registration number 05794719 (England and Wales)
D.J. HOUGHTON & SONS (GROUNDWORKS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
D.J. HOUGHTON & SONS (GROUNDWORKS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
D.J. HOUGHTON & SONS (GROUNDWORKS) LIMITED
BALANCE SHEET
AS AT 31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
20,175
26,900
Current assets
Debtors
5
50,937
13,379
Cash at bank and in hand
110,100
89,328
161,037
102,707
Creditors: amounts falling due within one year
6
(123,057)
(66,803)
Net current assets
37,980
35,904
Total assets less current liabilities
58,155
62,804
Provisions for liabilities
(5,000)
(4,243)
Net assets
53,155
58,561
Capital and reserves
Called up share capital
7
4
4
Profit and loss reserves
53,151
58,557
Total equity
53,155
58,561

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 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.

D.J. HOUGHTON & SONS (GROUNDWORKS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023
31 July 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 9 February 2024 and are signed on its behalf by:
Mr S D Houghton
Director
Company registration number 05794719 (England and Wales)
D.J. HOUGHTON & SONS (GROUNDWORKS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information

D.J. Houghton & Sons (Groundworks) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 47 Coningsby Road, Woodthorpe, Nottingham, NG5 4LH.

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 the value of work done during the period, excluding value added tax. Profit on long term contracts is recognised according to the stage of completion of the contract. Retentions are recognised as income when a particular project is completed and the company has earned the right to consideration.

1.3
Intangible fixed assets - goodwill

Goodwill represents the cost of acquisition of incorporated business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation.

1.4
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:

Plant and machinery
25% on reducing balance
Fixtures, fittings & equipment
25% on reducing balance
Motor vehicles
25% on 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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

D.J. HOUGHTON & SONS (GROUNDWORKS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
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.

1.8
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. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

D.J. HOUGHTON & SONS (GROUNDWORKS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 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
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2022 and 31 July 2023
200,000
Amortisation and impairment
At 1 August 2022 and 31 July 2023
200,000
Carrying amount
At 31 July 2023
-
0
At 31 July 2022
-
0
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2022 and 31 July 2023
70,044
3,040
35,914
108,998
Depreciation and impairment
At 1 August 2022
68,409
2,979
10,710
82,098
Depreciation charged in the year
409
15
6,301
6,725
At 31 July 2023
68,818
2,994
17,011
88,823
Carrying amount
At 31 July 2023
1,226
46
18,903
20,175
At 31 July 2022
1,635
61
25,204
26,900
D.J. HOUGHTON & SONS (GROUNDWORKS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
44,254
11,056
Other debtors
6,683
2,323
50,937
13,379
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
15,559
6,701
Corporation tax
17,929
-
0
Other taxation and social security
8
302
Other creditors
89,561
59,800
123,057
66,803
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary class of £1 each
1
1
1
1
B Ordinary class of £1 each
1
1
1
1
C Ordinary class of £1 each
1
1
1
1
D Ordinary class of £1 each
1
1
1
1
4
4
4
4
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
3,993
9,318
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