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Company registration number: 01846293
Danebury Building Services (Devon) Limited
Unaudited filleted financial statements
30 April 2023
DANEBURY BUILDING SERVICES (DEVON) LIMITED
DIRECTORS AND OTHER INFORMATION
Directors John Kenneth Cooper
Jennifer Ann Cooper
David John Cooper
Andrew Mark Cooper
Michael Ian Cooper
Secretary John Cooper
Company number 01846293
Registered office 2 Danebury Cottages
Feniton
Honiton
Devon
EX14 3BP
Accountants Westcotts
Queens House
42-44 New Street
Honiton
Devon
EX14 1BJ
DANEBURY BUILDING SERVICES (DEVON) LIMITED
STATEMENT OF FINANCIAL POSITION
30 APRIL 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 99,872 103,026
_______ _______
99,872 103,026
Current assets
Stocks 35,262 16,215
Debtors 6 132,019 146,094
Cash at bank and in hand 375,767 163,514
_______ _______
543,048 325,823
Creditors: amounts falling due
within one year 7 ( 228,373) ( 238,046)
_______ _______
Net current assets 314,675 87,777
_______ _______
Total assets less current liabilities 414,547 190,803
Provisions for liabilities ( 6,532) ( 5,381)
_______ _______
Net assets 408,015 185,422
_______ _______
Capital and reserves
Called up share capital 50 50
Profit and loss account 8 407,965 185,372
_______ _______
Shareholders funds 408,015 185,422
_______ _______
For the year ending 30 April 2023 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 February 2024 , and are signed on behalf of the board by:
John Kenneth Cooper
Director
Company registration number: 01846293
DANEBURY BUILDING SERVICES (DEVON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Danebury Cottages, Feniton, Honiton, Devon, EX14 3BP.
Principal activity
The principal activity of the company is that of building contractors.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - Straight line 1%
Plant and machinery - Reducing balance 10%
Fittings fixtures and equipment - Reducing balance 20%
Motor vehicles - Reducing balance 25%
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term, highly-liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2022: 6 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 May 2022 96,214 160,253 9,359 145,942 411,768
Additions - 3,679 - - 3,679
Disposals - - - ( 55,965) ( 55,965)
_______ _______ _______ _______ _______
At 30 April 2023 96,214 163,932 9,359 89,977 359,482
_______ _______ _______ _______ _______
Depreciation
At 1 May 2022 21,507 140,090 9,272 137,873 308,742
Charge for the year 962 2,384 17 1,535 4,898
Disposals - - - ( 54,030) ( 54,030)
_______ _______ _______ _______ _______
At 30 April 2023 22,469 142,474 9,289 85,378 259,610
_______ _______ _______ _______ _______
Carrying amount
At 30 April 2023 73,745 21,458 70 4,599 99,872
_______ _______ _______ _______ _______
At 30 April 2022 74,707 20,163 87 8,069 103,026
_______ _______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 129,597 138,965
Other debtors 2,422 7,129
_______ _______
132,019 146,094
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 3,452 6,406
Accruals and deferred income 5,850 5,000
Social security and other taxes 96,566 56,057
Other creditors 122,505 170,583
_______ _______
228,373 238,046
_______ _______
8. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Director ( 56,304) 26,394 ( 6,112) ( 36,022)
Director ( 78,299) 41,684 ( 6,192) ( 42,807)
Director ( 7,186) 29,320 ( 35,824) ( 13,690)
Director 3,629 29,320 ( 46,639) ( 13,690)
Director ( 27,938) 29,320 ( 15,073) ( 13,691)
_______ _______ _______ _______
( 166,098) 156,038 ( 109,840) ( 119,900)
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Director ( 56,496) 4,904 ( 4,712) ( 56,304)
Director ( 78,649) 4,824 ( 4,474) ( 78,299)
Director ( 19,653) 21,836 ( 9,369) ( 7,186)
Director ( 8,837) 21,836 ( 9,370) 3,629
Director ( 38,585) 20,016 ( 9,369) ( 27,938)
_______ _______ _______ _______
( 202,220) 73,416 ( 37,294) ( 166,098)
_______ _______ _______ _______