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Registration number: 08164617

D Hutchings Construction Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

D Hutchings Construction Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 11

 

D Hutchings Construction Ltd

Company Information

Directors

Mr Daniel Hutchings

Mrs Jennifer Hutchings

Registered office

Woodbine Farm Bus Centre
Truro Business Park
Truro
Cornwall
TR3 6BW

Accountants

Martin Fisher & Co Ltd
Chartered Certified Accountants
Woodbine Farm Bus Centre
Truro Business Park
Truro
Cornwall
TR3 6BW

 

D Hutchings Construction Ltd

Directors' Report for the Year Ended 30 April 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Daniel Hutchings

Mrs Jennifer Hutchings

Principal activity

The principal activity of the company is carpentry

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 4 August 2024 and signed on its behalf by:
 

.........................................
Mr Daniel Hutchings
Director

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
D Hutchings Construction Ltd
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of D Hutchings Construction Ltd for the year ended 30 April 2024 as set out on pages 4 to 11 from the company's 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 https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of D Hutchings 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 D Hutchings Construction Ltd and state those matters that we have agreed to state to the Board of Directors of D Hutchings 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/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D Hutchings Construction Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that D Hutchings 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 D Hutchings Construction Ltd. You consider that D Hutchings 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 D Hutchings 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.

......................................

Martin Fisher & Co Ltd
Chartered Certified Accountants
Woodbine Farm Bus Centre
Truro Business Park
Truro
Cornwall
TR3 6BW

4 August 2024

 

D Hutchings Construction Ltd

(Registration number: 08164617)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,075

9,467

Current assets

 

Stocks

5

-

1,818

Debtors

6

11,527

31,063

Cash at bank and in hand

 

47,020

26,736

 

58,547

59,617

Creditors: Amounts falling due within one year

7

(16,267)

(16,452)

Net current assets

 

42,280

43,165

Total assets less current liabilities

 

50,355

52,632

Creditors: Amounts falling due after more than one year

7

(5,100)

(9,807)

Provisions for liabilities

(1,534)

(1,799)

Net assets

 

43,721

41,026

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

43,719

41,024

Shareholders' funds

 

43,721

41,026

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 August 2024 and signed on its behalf by:
 

 

D Hutchings Construction Ltd

(Registration number: 08164617)
Balance Sheet as at 30 April 2024

.........................................
Mr Daniel Hutchings
Director

 

D Hutchings Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Woodbine Farm Bus Centre
Truro Business Park
Truro
Cornwall
TR3 6BW

These financial statements were authorised for issue by the Board on 4 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

 

D Hutchings Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

D Hutchings Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

D Hutchings Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

10,000

21,722

31,722

Additions

-

1,298

1,298

At 30 April 2024

10,000

23,020

33,020

Depreciation

At 1 May 2023

8,406

13,849

22,255

Charge for the year

398

2,292

2,690

At 30 April 2024

8,804

16,141

24,945

Carrying amount

At 30 April 2024

1,196

6,879

8,075

At 30 April 2023

1,594

7,873

9,467

5

Stocks

2024
£

2023
£

Work in progress

-

1,818

6

Debtors

Current

2024
£

2023
£

Trade debtors

10,147

25,077

Prepayments

635

-

Other debtors

745

5,986

 

11,527

31,063

7

Creditors

Creditors: amounts falling due within one year

 

D Hutchings Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

4,900

4,993

Trade creditors

 

7

1,241

Taxation and social security

 

8,638

7,808

Other creditors

 

2,722

2,410

 

16,267

16,452

 

D Hutchings Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

5,100

9,807

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

5,100

9,807

2024
£

2023
£

Current loans and borrowings

Bank borrowings

4,900

4,993

10

Related party transactions

Key management personnel

Mr D Hutchings and Mrs J Hutchings (directors)

Summary of transactions with key management

Director's loan accounts.
 Interest free and repayable on demand of the Company. At the balance sheet date the amount due to the directors were: Mr D Hutchings £1,361 (2023: £1,205) and Mrs J Hutchings £1,361 (2023: £1,205).