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Registered Number: 12948803
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 March 2024

for

DW GROUNDWORK & CONSTRUCTION LTD

Report to the directors on the preparation of the unaudited statutory accounts of DW Groundwork & Construction Ltd for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DW Groundwork & Construction Ltd for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of DW Groundwork & Construction Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of DW Groundwork & Construction Ltd and state those matters that we have agreed to state to the Board of Directors of DW Groundwork & Construction Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DW Groundwork & Construction Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that DW Groundwork & Construction Ltd 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 DW Groundwork & Construction Ltd. You consider that DW Groundwork & Construction Ltd 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 DW Groundwork & Construction Ltd. 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
31 March 2024



....................................................
TKD Accountants Ltd
Regus House
Malthouse Avenue
Cardiff Gate Business Park
Cardiff
CF23 8RU
08 August 2024
1
 

 
Notes

 
2024
£

  2023
£
(as restated)
Fixed assets      
Intangible fixed assets 3 3,000    6,000 
Tangible fixed assets 4 26,028    15,202 
29,028    21,202 
Current assets      
Debtors 123,564    28,382 
Cash at bank and in hand 68,759    14,814 
192,323    43,196 
Creditors: amount falling due within one year (63,734)   (24,571)
Net current assets 128,589    18,625 
 
Total assets less current liabilities 157,617    39,827 
Provisions for liabilities (3,007)  
Net assets 154,610    39,827 
 

Capital and reserves
     
Called up share capital 5 2    2 
Profit and loss account 154,608    39,825 
Shareholders' funds 154,610    39,827 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 08 August 2024 and were signed by:


-------------------------------
David Fox
Director
2
General Information
DW Groundwork & Construction Ltd is a private company, limited by shares, registered in England and Wales, registration number 12948803, registration address 4 Curzon Street, Brynmawr, Gwent, NP23 4EJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Change in accounting policy
From 1 April 2023 the Directors decided to change the Accountancy policy from FRS105 to FRS102. They felt that due to the growth of the business that FRS105 Micro Entity Accounts were no longer suitable. The 2023 comparative figures are shown as restated, however, no figures have been altered. The only item that needed to be considered for restatement was deferred tax. It was decided that the deferred tax charge would have been immaterial so there was no need to show this restated balance in 2023. Full deferred tax has been recognised in the 2024 figures. 
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 4 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Motor Vehicles 25% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2023 12,000    12,000 
Additions  
Disposals  
At 31 March 2024 12,000    12,000 
Amortisation
At 01 April 2023 6,000    6,000 
Charge for year 3,000    3,000 
On disposals  
At 31 March 2024 9,000    9,000 
Net book values
At 31 March 2024 3,000    3,000 
At 31 March 2023 6,000    6,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 April 2023 15,700    12,850    28,550 
Additions 900    18,742    19,642 
Disposals    
At 31 March 2024 16,600    31,592    48,192 
Depreciation
At 01 April 2023 7,760    5,588    13,348 
Charge for year 3,963    4,853    8,816 
On disposals    
At 31 March 2024 11,723    10,441    22,164 
Net book values
Closing balance as at 31 March 2024 4,877    21,151    26,028 
Opening balance as at 01 April 2023 7,940    7,262    15,202 


5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
2 Ordinary shares of £1.00 each  
 

3