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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
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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
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D J COSTIN GROUNDWORKS LIMITED Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
76,508 
64,790 
Current assets
Debtors
12,002 
23,930 
Cash at bank and in hand
17,150 
24,174 
29,152 
48,104 
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)
Net assets
22,873 
41,352 
Capital and reserves
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
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D J COSTIN GROUNDWORKS LIMITED Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
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.
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
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 taxation
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.
Leased assets
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.
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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 
Additions
- 
35,631 
35,631 
Disposals
(13,800)
- 
(13,800)
At 31 March 2024
49,495 
84,081 
133,576 
Depreciation
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 
Net book value
At 31 March 2024
25,575 
50,933 
76,508 
At 31 March 2023
36,754 
28,036 
64,790 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
25,525 
24,600 
- Motor vehicles
50,539 
22,440 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
800 
- 
Other debtors
11,202 
22,196 
12,002 
22,196 
Amounts falling due after more than one year
Other debtors
- 
1,734 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
3,000 
3,000 
VAT
162 
5,688 
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 
- 
Accruals
725 
725 
Deferred income
11,202 
22,196 
31,838 
43,266 
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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 
£ 
£ 
Bank loans
3,296 
6,500 
Obligations under finance leases and hire purchase contracts
31,144 
8,183 
34,440 
14,683 
8
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
16,509 
13,593 
2024 
2023 
£ 
£ 
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.
9
Share capital
2024 
2023 
£ 
£ 
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).
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