Derwent Valley Construction Limited 01089587 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is building contracting Digita Accounts Production Advanced 6.30.9574.0 true true true 01089587 2023-01-01 2023-12-31 01089587 2023-12-31 01089587 core:CapitalRedemptionReserve 2023-12-31 01089587 core:RetainedEarningsAccumulatedLosses 2023-12-31 01089587 core:ShareCapital 2023-12-31 01089587 core:SharePremium 2023-12-31 01089587 core:CurrentFinancialInstruments 2023-12-31 01089587 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 01089587 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 01089587 core:FurnitureFittingsToolsEquipment 2023-12-31 01089587 core:MotorVehicles 2023-12-31 01089587 bus:SmallEntities 2023-01-01 2023-12-31 01089587 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 01089587 bus:FullAccounts 2023-01-01 2023-12-31 01089587 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01089587 bus:Director1 2023-01-01 2023-12-31 01089587 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01089587 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 01089587 core:MotorVehicles 2023-01-01 2023-12-31 01089587 core:PlantMachinery 2023-01-01 2023-12-31 01089587 1 2023-01-01 2023-12-31 01089587 countries:England 2023-01-01 2023-12-31 01089587 2022-12-31 01089587 core:FurnitureFittingsToolsEquipment 2022-12-31 01089587 core:MotorVehicles 2022-12-31 01089587 2022-01-01 2022-12-31 01089587 2022-12-31 01089587 core:CapitalRedemptionReserve 2022-12-31 01089587 core:RetainedEarningsAccumulatedLosses 2022-12-31 01089587 core:ShareCapital 2022-12-31 01089587 core:SharePremium 2022-12-31 01089587 core:CurrentFinancialInstruments 2022-12-31 01089587 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 01089587 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 01089587 core:FurnitureFittingsToolsEquipment 2022-12-31 01089587 core:MotorVehicles 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 01089587

Derwent Valley Construction Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Derwent Valley Construction Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Derwent Valley Construction Limited

(Registration number: 01089587 )
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

122,771

20,447

Current assets

 

Stocks

400,000

250,000

Debtors

5

1,249,810

995,995

Cash at bank and in hand

 

1,231,944

701,245

 

2,881,754

1,947,240

Creditors: Amounts falling due within one year

6

(1,924,051)

(873,869)

Net current assets

 

957,703

1,073,371

Total assets less current liabilities

 

1,080,474

1,093,818

Creditors: Amounts falling due after more than one year

6

-

(129,167)

Provisions for liabilities

(13,250)

-

Net assets

 

1,067,224

964,651

Capital and reserves

 

Called up share capital

5,000

5,000

Share premium reserve

500

500

Capital redemption reserve

50,000

50,000

Retained earnings

1,011,724

909,151

Shareholders' funds

 

1,067,224

964,651

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 September 2024
 

 

Derwent Valley Construction Limited

(Registration number: 01089587 )
Balance Sheet as at 31 December 2023

.........................................
Mr Andrew Michael Stone
Director

 

Derwent Valley Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a company limited by shares incorporated in England. The address of the registered office is 29 Bridge Street, Belper, Derby, DE56 1AY.

2

Accounting policies

Basis of preparation

These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (FRS102) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historic cost convention. The principal accounting policies adopted are set out below.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of construction services in the ordinary course of the company’s activities.

When the outcome of a construction contract can be measured reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date.
Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that is probable will be recoverable.
When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Tax

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantially enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Derwent Valley Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% - 20% straight line

Motor vehicles

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable/payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Pensions

The company operates a defined contribution scheme. Contributions payable for the year are charged in the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 23 (2022 - 22).

 

Derwent Valley Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

80,191

151,685

231,876

Additions

4,842

119,999

124,841

At 31 December 2023

85,033

271,684

356,717

Depreciation

At 1 January 2023

68,035

143,394

211,429

Charge for the year

3,729

18,788

22,517

At 31 December 2023

71,764

162,182

233,946

Carrying amount

At 31 December 2023

13,269

109,502

122,771

At 31 December 2022

12,156

8,291

20,447

5

Debtors

Current

2023
£

2022
£

Trade debtors

970,793

476,032

Prepayments

259,340

170,965

Amounts recoverable on contracts

19,677

348,998

 

1,249,810

995,995

 

Derwent Valley Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

-

50,000

Trade creditors

 

873,606

444,600

Amounts owed to group undertakings

-

114,000

Taxation and social security

 

426,718

224,648

Accruals and deferred income

 

46,135

38,823

Other creditors

 

577,592

1,798

 

1,924,051

873,869

Creditors include bank loans and overdrafts which are secured of £- (2022 - £50,000).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

-

129,167

Creditors include bank loans and overdrafts which are secured of £nil (2022 - £129,167).

7

Parent and ultimate parent undertaking

The company's immediate parent is FB88 Limited, incorporated in England . The parent's registered office is 29 Bridge Street, Belper, Derbyshire DE56 1AY, which is also its principal place of business.