Design & Construct SW Limited 14237704 false 2022-07-15 2023-07-31 2023-07-31 The principal activity of the company is property development. Digita Accounts Production Advanced 6.30.9574.0 true true 14237704 2022-07-15 2023-07-31 14237704 2023-07-31 14237704 core:RetainedEarningsAccumulatedLosses 2023-07-31 14237704 core:ShareCapital 2023-07-31 14237704 core:CurrentFinancialInstruments 2023-07-31 14237704 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 14237704 bus:SmallEntities 2022-07-15 2023-07-31 14237704 bus:AuditExemptWithAccountantsReport 2022-07-15 2023-07-31 14237704 bus:FullAccounts 2022-07-15 2023-07-31 14237704 bus:SmallCompaniesRegimeForAccounts 2022-07-15 2023-07-31 14237704 bus:RegisteredOffice 2022-07-15 2023-07-31 14237704 bus:Director1 2022-07-15 2023-07-31 14237704 bus:Director2 2022-07-15 2023-07-31 14237704 bus:PrivateLimitedCompanyLtd 2022-07-15 2023-07-31 14237704 countries:EnglandWales 2022-07-15 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 14237704

Design & Construct SW Limited

Filleted Unaudited Financial Statements

for the Period from 15 July 2022 to 31 July 2023

 

Design & Construct SW Limited
(Registration number: 14237704)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Design & Construct SW Limited
(Registration number: 14237704)

Company Information

Directors

H J Gater

W H Gater

Registered office

1 Colleton Crescent
Exeter
Devon
EX2 4DG

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Design & Construct SW Limited
(Registration number: 14237704)

Balance Sheet as at 31 July 2023

Note

2023
£

Current assets

 

Stocks

4

339,988

Debtors

5

732

Cash at bank and in hand

 

211

 

340,931

Creditors: Amounts falling due within one year

6

(358,913)

Net liabilities

 

(17,982)

Capital and reserves

 

Called up share capital

100

Profit and loss account

(18,082)

Total equity

 

(17,982)

For the financial period ending 31 July 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 12 April 2024 and signed on its behalf by:
 

.........................................
W H Gater
Director

 

Design & Construct SW Limited
(Registration number: 14237704)

Notes to the Unaudited Financial Statements for the Period from 15 July 2022 to 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Colleton Crescent
Exeter
Devon
EX2 4DG

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company has net liabilities and is reliant on the support of the directors. The directors are willing to support the company for the foreseeable future and are confident that the company can meet its ongoing liabilities as they fall due. As a result the financial statements have been prepared on a going concern basis.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Design & Construct SW Limited
(Registration number: 14237704)

Notes to the Unaudited Financial Statements for the Period from 15 July 2022 to 31 July 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Stocks

2023
£

Other stocks

339,988

 

Design & Construct SW Limited
(Registration number: 14237704)

Notes to the Unaudited Financial Statements for the Period from 15 July 2022 to 31 July 2023

5

Debtors

2023
£

Other debtors

732

Total current trade and other debtors

732

6

Creditors

Note

2023
£

Due within one year

 

Loans and borrowings

7

341,589

Other creditors

 

16,124

Accrued expenses

 

1,200

 

358,913

Creditors include loans which are secured of £341,589. Loans are secured by way of fixed and floating charge over the property and undertaking of the company.

7

Loans and borrowings

2023
£

Current loans and borrowings

Other borrowings

341,589