D & G Building and Drainage Services Ltd
Registered number: 07719535
Statement of Financial Position
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 20,695 1,351
Current assets
Debtors 4 61,823 68,179
Cash at bank and in hand 22,262 51
84,085 68,230
Creditors: amounts falling due within one year 5 (92,589) (56,071)
Net current (liabilities)/assets (8,504) 12,159
Total assets less current liabilities 12,191 13,510
Creditors: amounts falling due after more than one year 6 (7,950) (11,746)
Provisions for liabilities (3,932) (257)
Net assets 309 1,507
Capital and reserves
Called up share capital 2 2
Profit and loss account 307 1,505
Shareholder's funds 309 1,507
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D W Gorvett
Director
Approved by the board on 19 January 2024
D & G Building and Drainage Services Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 5 year straight line
Motor vehicles 5 year straight line
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 3,508 2,300 5,808
Additions 18,682 7,275 25,957
Disposals - (1,300) (1,300)
At 31 July 2023 22,190 8,275 30,465
Depreciation
At 1 August 2022 3,277 1,180 4,457
Charge for the year 4,438 1,655 6,093
On disposals - (780) (780)
At 31 July 2023 7,715 2,055 9,770
Net book value
At 31 July 2023 14,475 6,220 20,695
At 31 July 2022 231 1,120 1,351
4 Debtors 2023 2022
£ £
Trade debtors - 36,234
Prepayments 239 -
Accrued income 20,000 -
Other debtors 41,584 31,945
61,823 68,179
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,006 4,000
Trade creditors 25,353 8,409
Accruals 2,012 1,586
Corporation tax 10,927 10,390
Other taxes and social security costs 50,291 31,686
92,589 56,071
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 7,950 11,746
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr D W Gorvett
Repayable on demand 21,285 9,639 - 30,924
21,285 9,639 - 30,924
8 Other information
D & G Building and Drainage Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
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