Caseware UK (AP4) 2023.0.135 2023.0.135 No description of principal activityfalse2023-04-0126The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.25falsetruefalse 07166846 2023-04-01 2024-03-31 07166846 2022-04-01 2023-03-31 07166846 2024-03-31 07166846 2023-03-31 07166846 c:Director2 2023-04-01 2024-03-31 07166846 d:Buildings 2023-04-01 2024-03-31 07166846 d:Buildings 2024-03-31 07166846 d:Buildings 2023-03-31 07166846 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07166846 d:LandBuildings 2024-03-31 07166846 d:LandBuildings 2023-03-31 07166846 d:PlantMachinery 2023-04-01 2024-03-31 07166846 d:PlantMachinery 2024-03-31 07166846 d:PlantMachinery 2023-03-31 07166846 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07166846 d:MotorVehicles 2023-04-01 2024-03-31 07166846 d:MotorVehicles 2024-03-31 07166846 d:MotorVehicles 2023-03-31 07166846 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07166846 d:FurnitureFittings 2023-04-01 2024-03-31 07166846 d:FurnitureFittings 2024-03-31 07166846 d:FurnitureFittings 2023-03-31 07166846 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07166846 d:OfficeEquipment 2023-04-01 2024-03-31 07166846 d:OfficeEquipment 2024-03-31 07166846 d:OfficeEquipment 2023-03-31 07166846 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07166846 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07166846 d:FreeholdInvestmentProperty 2024-03-31 07166846 d:FreeholdInvestmentProperty 2023-03-31 07166846 d:CurrentFinancialInstruments 2024-03-31 07166846 d:CurrentFinancialInstruments 2023-03-31 07166846 d:Non-currentFinancialInstruments 2024-03-31 07166846 d:Non-currentFinancialInstruments 2023-03-31 07166846 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07166846 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07166846 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07166846 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07166846 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 07166846 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07166846 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 07166846 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07166846 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 07166846 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 07166846 d:ShareCapital 2024-03-31 07166846 d:ShareCapital 2023-03-31 07166846 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 07166846 d:RetainedEarningsAccumulatedLosses 2024-03-31 07166846 d:RetainedEarningsAccumulatedLosses 2023-03-31 07166846 c:OrdinaryShareClass1 2023-04-01 2024-03-31 07166846 c:OrdinaryShareClass1 2024-03-31 07166846 c:OrdinaryShareClass1 2023-03-31 07166846 c:FRS102 2023-04-01 2024-03-31 07166846 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07166846 c:FullAccounts 2023-04-01 2024-03-31 07166846 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07166846 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 07166846 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07166846 2 2023-04-01 2024-03-31 07166846 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07166846










D & D Carpentry South East Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2024

 
D & D Carpentry South East Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of D & D Carpentry South East Limited 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 financial statements of D & D Carpentry South East Limited for the year ended 31 March 2024 which comprise the Balance sheet and the related notes 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 https://www.icaew.com /regulation.

This report is made solely to the Board of directors of D & D Carpentry South East Limited, as a body, in accordance with the terms of our engagement letter dated 30 July 2024Our work has been undertaken solely to prepare for your approval the financial statements of D & D Carpentry South East Limited and state those matters that we have agreed to state to the Board of directors of D & D Carpentry South East Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D & D Carpentry South East Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that D & D Carpentry South East Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of D & D Carpentry South East Limited. You consider that D & D Carpentry South East Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of D & D Carpentry South East 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 financial statements.

  



Kreston Reeves LLP
Chartered Accountants
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
24 July 2024
Page 1

 
D & D Carpentry South East Limited
Registered number: 07166846

Balance sheet
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,716,503
2,297,703

Investment property
 5 
550,000
550,000

  
3,266,503
2,847,703

Current assets
  

Stocks
  
15,252
60,349

Debtors: amounts falling due within one year
 6 
2,216,546
2,709,320

Cash at bank and in hand
  
901,282
842,567

  
3,133,080
3,612,236

Creditors: amounts falling due within one year
 7 
(445,777)
(458,951)

Net current assets
  
 
 
2,687,303
 
 
3,153,285

Total assets less current liabilities
  
5,953,806
6,000,988

Creditors: amounts falling due after more than one year
 8 
(940,045)
(564,253)

Provisions for liabilities
  

Deferred tax
 11 
(62,279)
(62,279)

  
 
 
(62,279)
 
 
(62,279)

Net assets
  
4,951,482
5,374,456


Capital and reserves
  

Called up share capital 
 12 
400
400

Profit and loss account
 13 
4,951,082
5,374,056

  
4,951,482
5,374,456


Page 2

 
D & D Carpentry South East Limited
Registered number: 07166846

Balance sheet (continued)
As at 31 March 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 July 2024.


Derek Barton
Director

The notes on pages 4 to 14 form part of these financial statements.

Page 3

 
D & D Carpentry South East Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

1.


General information

D & D Carpentry South East Ltd is a private company limited by shares which was incorporated in England and Wales with company number 07166846. 
The company’s registered office and principal place of business is Barton's Court, Barton House, The Street, Bredhurst, Kent, ME7 3LQ. 
The financial statements are presented in Pounds Sterling, and rounded to the nearest Pound.
The principal activities of the company are the provision of carpentry services, particularly with regard to new builds.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
D & D Carpentry South East Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
0%
Plant & machinery
-
25% Reducing Balance
Motor vehicles
-
25% Reducing Balance
Fixtures & fittings
-
25% Reducing Balance
Office equipment
-
25% Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

  
2.5

Stocks and work in process

Stocks and work in process are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
 
Page 5

 
D & D Carpentry South East Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)


Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Page 6

 
D & D Carpentry South East Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 
D & D Carpentry South East Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.12

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.15

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 8

 
D & D Carpentry South East Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.17

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 26 (2023 - 25).

Page 9

 
D & D Carpentry South East Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

4.


Tangible fixed assets





Freehold property
Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2023
1,665,698
131,494
1,086,523
102,612
85,764
3,072,091


Additions
-
6,376
659,499
40,043
18,019
723,937


Disposals
-
-
(351,763)
-
(6,624)
(358,387)



At 31 March 2024

1,665,698
137,870
1,394,259
142,655
97,159
3,437,641



Depreciation


At 1 April 2023
-
72,333
611,035
52,311
38,709
774,388


Charge for the year on owned assets
-
15,490
140,706
15,605
13,493
185,294


Disposals
-
-
(234,645)
-
(3,899)
(238,544)



At 31 March 2024

-
87,823
517,096
67,916
48,303
721,138



Net book value



At 31 March 2024
1,665,698
50,047
877,163
74,739
48,856
2,716,503



At 31 March 2023
1,665,698
59,161
475,488
50,301
47,055
2,297,703




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
1,665,698
1,665,698

1,665,698
1,665,698


Page 10

 
D & D Carpentry South East Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
550,000



At 31 March 2024
550,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.






If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
280,153
280,153

280,153
280,153


6.


Debtors

2024
2023
£
£


Trade debtors
1,699,456
2,310,910

Amounts owed by joint ventures and associated undertakings
406,795
322,664

Other debtors
110,295
75,746

2,216,546
2,709,320


Page 11

 
D & D Carpentry South East Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Credit card balances
9,871
19,711

Bank loans
118,991
38,314

Trade creditors
135,126
86,995

Corporation tax
-
138,181

Obligations under finance lease and hire purchase contracts
95,766
79,691

Other creditors
84,023
94,059

Accruals and deferred income
2,000
2,000

445,777
458,951



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
603,628
488,838

Net obligations under finance leases and hire purchase contracts
336,417
75,415

940,045
564,253



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
118,991
38,314

Amounts falling due 1-2 years

Bank loans
126,441
39,738

Amounts falling due 2-5 years

Bank loans
193,448
128,298

Amounts falling due after more than 5 years

Bank loans
283,739
320,801

722,619
527,151


Page 12

 
D & D Carpentry South East Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
95,766
79,691

Between 1-2 years
94,393
52,659

Between 2-5 years
242,025
22,756

432,184
155,106


11.


Deferred taxation




2024


£






At beginning of year
(62,279)



At end of year
(62,279)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Future chargeable gains on investment property gains
(62,279)
(62,279)

(62,279)
(62,279)


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



400 (2023 - 400) Ordinary shares of £1.00 each
400
400



13.


Reserves

Profit & loss account

Included within the profit and loss account reserves are non-distributable reserves resulting from the fair value movement on investment properties, less the associated deferred tax provision. As at 31 March 2024 these non-distributable reserves amounted to £207,568 (2023: £207,568).

Page 13

 
D & D Carpentry South East Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

14.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £9,151 (2023: £8,370). Contributions totalling £3,177 (2023: £3,133) were payable to the fund at the balance sheet date and are included in creditors.


15.


Related party transactions

All payments made to the directors were made under normal market conditions.


16.


Controlling party

There is no overall controlling party by virtue of an equal shareholding between the directors.


Page 14