Company Registration No. 04706568 (England and Wales)
Durston Construction Ltd
Unaudited accounts
for the year ended 31 March 2024
Durston Construction Ltd
Unaudited accounts
Contents
Durston Construction Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
325,317
312,173
Inventories
46,410
108,912
Cash at bank and in hand
262,989
282,420
Creditors: amounts falling due within one year
(193,206)
(201,851)
Net current assets
205,450
237,334
Total assets less current liabilities
530,767
549,507
Creditors: amounts falling due after more than one year
(13,900)
(24,063)
Provisions for liabilities
Deferred tax
(82,296)
(78,043)
Net assets
434,571
447,401
Called up share capital
102
102
Profit and loss account
434,469
447,299
Shareholders' funds
434,571
447,401
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 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 11 July 2024 and were signed on its behalf by
M J Durston
Director
Company Registration No. 04706568
Durston Construction Ltd
Notes to the Accounts
for the year ended 31 March 2024
Durston Construction Ltd is a private company, limited by shares, registered in England and Wales, registration number 04706568. The registered office is Springleaze, Downhead, Shepton Mallet, Somerset, BA4 4LQ.
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.
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.
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
25% straight line
Motor vehicles
25% reducing balance
Computer equipment
33% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
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.
Durston Construction Ltd
Notes to the Accounts
for the year ended 31 March 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
407,482
159,687
13,332
10,118
590,619
Additions
5,407
57,227
4,000
1,063
67,697
Disposals
-
-
(11,432)
(2,546)
(13,978)
At 31 March 2024
412,889
216,914
5,900
8,635
644,338
At 1 April 2023
182,866
85,358
2,476
7,746
278,446
Charge for the year
28,644
14,652
1,590
1,664
46,550
On disposals
-
-
(3,429)
(2,546)
(5,975)
At 31 March 2024
211,510
100,010
637
6,864
319,021
At 31 March 2024
201,379
116,904
5,263
1,771
325,317
At 31 March 2023
224,616
74,329
10,856
2,372
312,173
Durston Construction Ltd
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Trade debtors
68,876
31,034
Accrued income and prepayments
17,631
11,319
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
9,912
Trade creditors
34,463
32,990
Taxes and social security
17,056
24,454
Other creditors
23,196
19,119
Loans from directors
74,053
69,789
The bank loan is secured against the company's assets.
8
Creditors: amounts falling due after more than one year
2024
2023
The bank loan is secured against the company's assets.
9
Average number of employees
During the year the average number of employees was 9 (2023: 9).