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Company Registration No. 04448465 (England and Wales)
Douglas Construction Limited Unaudited accounts for the year ended 31 January 2024
Douglas Construction Limited Unaudited accounts Contents
Page
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Douglas Construction Limited Company Information for the year ended 31 January 2024
Directors
Christopher Hurley Charlotte Hurley
Company Number
04448465 (England and Wales)
Registered Office
3 Stafford Road Southsea Hampshire PO5 2AD England
Accountants
Louisa Burton ACA Gatcombe House Copnor Road Portsmouth Hampshire PO3 5EJ
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Douglas Construction Limited for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Douglas Construction Limited for the year ended 31 January 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Douglas Construction Limited, as a body, in accordance with the terms of our engagement letter dated 20 June 2024. Our work has been undertaken solely to prepare for your approval the accounts of Douglas Construction Limited and state those matters that we have agreed to state to the Board of Directors of Douglas Construction Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Douglas Construction Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Douglas Construction Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Douglas Construction Limited. You consider that Douglas Construction Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Douglas Construction Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Louisa Burton ACA Chartered Accountants Gatcombe House Copnor Road Portsmouth Hampshire PO3 5EJ 12 April 2024
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Douglas Construction Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
3,370,000 
3,370,000 
Current assets
Inventories
410,713 
2,145,000 
Debtors
1,955,762 
30 
Cash at bank and in hand
594,007 
648,097 
2,960,482 
2,793,127 
Creditors: amounts falling due within one year
(1,667,539)
(1,638,497)
Net current assets
1,292,943 
1,154,630 
Total assets less current liabilities
4,662,943 
4,524,630 
Creditors: amounts falling due after more than one year
(500,000)
(500,000)
Net assets
4,162,943 
4,024,630 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
967,600 
967,600 
Profit and loss account
3,195,243 
3,056,930 
Shareholders' funds
4,162,943 
4,024,630 
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2024 and were signed on its behalf by
Christopher Hurley Director Company Registration No. 04448465
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Douglas Construction Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Douglas Construction Limited is a private company, limited by shares, registered in England and Wales, registration number 04448465. The registered office is 3 Stafford Road, Southsea, Hampshire, PO5 2AD, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Investment property
2024 
£ 
Fair value at 1 February 2023
3,370,000 
At 31 January 2024
3,370,000 
Land and Buildings were valued on an open market basis on 31st January 2024 by the directors.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
120 
30 
Amounts falling due after more than one year
Amounts due from group undertakings etc.
1,955,642 
- 
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Douglas Construction Limited Notes to the Accounts for the year ended 31 January 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
1,550,242 
1,550,242 
Taxes and social security
43,091 
6,999 
Other creditors
50,000 
50,000 
Loans from directors
23,856 
26,456 
Accruals
350 
4,800 
1,667,539 
1,638,497 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
500,000 
500,000 
8
Transactions with related parties
CD Hurley Management Services Limited is a company in which Mr Hurley is a director and shareholder. At 31 January 2024 the company owed CD Hurley Management Services Limited £1,550,242 (2023: £1,550,242). The Nurseries (Hayling Island) Management Limited is a company in which Mr Hurley is a director and shareholder. At 31 January 2024 the company was owed £1,955,642 (2023: £nil) by The Nurseries (Hayling Island) Management Limited.
9
Controlling party
The controlling party is C D Hurley. At 31st January 2023, the company owed Mr Hurley £23,856 (2023 £26,456). Other loans from members of his family amounted to £500,000 at 31st January 2024 (2023: £500,000
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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