Company Registration No. 10521748 (England and Wales)
DG Construction Group Ltd
Unaudited accounts
for the year ended 31 December 2023
DG Construction Group Ltd
Unaudited accounts
Contents
DG Construction Group Ltd
Company Information
for the year ended 31 December 2023
Company Number
10521748 (England and Wales)
Registered Office
Ground Floor Unit S
Roentgen Road
Basingstoke
RG24 8NG
Accountants
Woods Russell Limited
First Floor Unit S
Loddon Business Centre
Roentgen Road
Basingstoke
RG24 8NG
DG Construction Group Ltd
Statement of financial position
as at 31 December 2023
Tangible assets
217,693
135,853
Cash at bank and in hand
384,900
527,630
Creditors: amounts falling due within one year
(118,929)
(150,528)
Net current assets
375,848
430,475
Total assets less current liabilities
593,641
566,628
Creditors: amounts falling due after more than one year
(41,666)
(43,983)
Provisions for liabilities
Deferred tax
(52,573)
(24,095)
Net assets
499,402
498,550
Called up share capital
100
100
Profit and loss account
499,302
498,450
Shareholders' funds
499,402
498,550
For the year ending 31 December 2023 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 11 September 2024 and were signed on its behalf by
Mr Dean Grimes
Director
Company Registration No. 10521748
DG Construction Group Ltd
Notes to the Accounts
for the year ended 31 December 2023
DG Construction Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 10521748. The registered office is Ground Floor Unit S, Roentgen Road, Basingstoke, RG24 8NG.
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.
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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.
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 method
Motor vehicles
20% Reducing balance method
Computer equipment
20% Reducing balance method
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 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.
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.
DG Construction Group Ltd
Notes to the Accounts
for the year ended 31 December 2023
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.
Short term debtors are measured at the transaction price less any impairment.
Short term creditors are measured at transaction price.
Investments in shares in subsidiaries are recognised at cost and are included at fair value with movements in fair value recognised in profit or loss.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2023
127,828
90,492
8,098
226,418
Additions
35,347
100,000
917
136,264
At 31 December 2023
163,175
190,492
9,015
362,682
At 1 January 2023
41,833
44,202
4,530
90,565
Charge for the year
24,269
29,258
897
54,424
At 31 December 2023
66,102
73,460
5,427
144,989
At 31 December 2023
97,073
117,032
3,588
217,693
At 31 December 2022
85,995
46,290
3,568
135,853
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
62,453
19,267
5
Investments
Subsidiary undertakings
Valuation at 1 January 2023
300
Valuation at 31 December 2023
100
DG Construction Group Ltd
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
38,703
44,168
Amounts due from group undertakings etc.
-
2,900
Accrued income and prepayments
10,106
3,405
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
6,597
6,209
Obligations under finance leases and hire purchase contracts
23,675
3,642
Trade creditors
44,437
19,003
Amounts owed to group undertakings and other participating interests
100
200
Taxes and social security
24,805
102,191
Other creditors
11,764
6,912
Loans from directors
2,336
3,351
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
9,805
6,352
Finance lease and Hire Purchase contracts are secured over the assets to which they relate.
Other bank loans are secure over the assets of the company and charged at commercial interest rates.
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Average number of employees
During the year the average number of employees was 2 (2022: 2).