Company Registration No. 07198128 (England and Wales)
D J COSTIN GROUNDWORKS LIMITED
Unaudited accounts
for the year ended 31 March 2024
D J COSTIN GROUNDWORKS LIMITED
Unaudited accounts
Contents
D J COSTIN GROUNDWORKS LIMITED
Company Information
for the year ended 31 March 2024
Director
David John Costin
Company Number
07198128 (England and Wales)
Registered Office
55 Welton Gardens
Lincoln
LINCOLNSHIRE
LN2 2BG
United Kingdom
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA
Templar Accounting & Business Support
Services Limited (Incorp: Blake and Co )
112 - 113 High Street,
Lincoln, Lincolnshire
LN5 7PY
D J COSTIN GROUNDWORKS LIMITED
Statement of financial position
as at 31 March 2024
Tangible assets
76,508
64,790
Cash at bank and in hand
17,150
24,174
Creditors: amounts falling due within one year
(31,838)
(43,266)
Net current (liabilities)/assets
(2,686)
4,838
Total assets less current liabilities
73,822
69,628
Creditors: amounts falling due after more than one year
(34,440)
(14,683)
Provisions for liabilities
Deferred tax
(16,509)
(13,593)
Called up share capital
100
100
Profit and loss account
22,773
41,252
Shareholders' funds
22,873
41,352
For the year ending 31 March 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 director acknowledges his 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 and authorised for issue on 31 July 2024 and were signed on its behalf by
David John Costin
Director
Company Registration No. 07198128
D J COSTIN GROUNDWORKS LIMITED
Notes to the Accounts
for the year ended 31 March 2024
D J COSTIN GROUNDWORKS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07198128. The registered office is 55 Welton Gardens, Lincoln, LINCOLNSHIRE, LN2 2BG, United Kingdom.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance
Motor vehicles
20% Reducing balance
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
D J COSTIN GROUNDWORKS LIMITED
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2023
63,295
48,450
111,745
Disposals
(13,800)
-
(13,800)
At 31 March 2024
49,495
84,081
133,576
At 1 April 2023
26,541
20,414
46,955
Charge for the year
6,394
12,734
19,128
On disposals
(9,015)
-
(9,015)
At 31 March 2024
23,920
33,148
57,068
At 31 March 2024
25,575
50,933
76,508
At 31 March 2023
36,754
28,036
64,790
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
25,525
24,600
- Motor vehicles
50,539
22,440
Amounts falling due within one year
Other debtors
11,202
22,196
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
3,000
3,000
Obligations under finance leases and hire purchase contracts
11,815
6,850
Trade creditors
2,900
2,728
Taxes and social security
1,157
2,079
Loans from directors
877
-
Deferred income
11,202
22,196
D J COSTIN GROUNDWORKS LIMITED
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
31,144
8,183
8
Deferred taxation
2024
2023
Accelerated capital allowances
16,509
13,593
Provision at start of year
13,593
3,070
Charged to the profit and loss account
2,916
10,523
Provision at end of year
16,509
13,593
A deferred taxation reserve has been created of some £16,509 to date.
This reserve will reverse in future periods and create a tax liability at the prevailing rate on the day.
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Capital commitments
2024
2023
There are no further capital commitments as at the statement of financial position signing off date.
11
Average number of employees
During the year the average number of employees was 2 (2023: 2).