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Registered number: 06805599
Dimension Builders Ltd
Financial Statements
For The Year Ended 31 January 2024
Davey Accounting Services
11 Abrahams Close
Trowbridge
Wiltshire
BA14 0ND
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06805599
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,929 12,311
3,929 12,311
CURRENT ASSETS
Stocks 300 300
Debtors 6 40,310 23,026
Cash at bank and in hand 1,555 11,464
42,165 34,790
Creditors: Amounts Falling Due Within One Year 7 (34,540 ) (25,354 )
NET CURRENT ASSETS (LIABILITIES) 7,625 9,436
TOTAL ASSETS LESS CURRENT LIABILITIES 11,554 21,747
Creditors: Amounts Falling Due After More Than One Year 8 (12,407 ) (16,667 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,084 ) -
NET (LIABILITIES)/ASSETS (1,937 ) 5,080
CAPITAL AND RESERVES
Called up share capital 9 5,000 5,000
Profit and Loss Account (6,937 ) 80
SHAREHOLDERS' FUNDS (1,937) 5,080
Page 1
Page 2
For the year ending 31 January 2024 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Moore
Director
16th October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dimension Builders Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06805599 . The registered office is Doels Farm West End, Potterne, Devizes, SN10 5PS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Motor Vehicles 20% straight line
Fixtures & Fittings 25% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 6)
5 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 20,000
As at 31 January 2024 20,000
Amortisation
As at 1 February 2023 20,000
As at 31 January 2024 20,000
Net Book Value
As at 31 January 2024 -
As at 1 February 2023 -
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2023 8,278 60,316 2,351 70,945
Additions 253 - - 253
As at 31 January 2024 8,531 60,316 2,351 71,198
Depreciation
As at 1 February 2023 7,768 48,515 2,351 58,634
Provided during the period 313 8,322 - 8,635
As at 31 January 2024 8,081 56,837 2,351 67,269
Net Book Value
As at 31 January 2024 450 3,479 - 3,929
As at 1 February 2023 510 11,801 - 12,311
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,658 9,277
Other debtors 3,585 1,870
Deferred tax current asset - 488
VAT - 3,130
Directors' loan accounts 25,067 8,261
40,310 23,026
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,005 18,934
Corporation tax 61 4,695
Other taxes and social security 1,008 1,306
VAT 3,211 -
Net wages 6,831 -
Other creditors 94 89
Accruals and deferred income 330 330
34,540 25,354
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,407 16,667
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5,000 5,000
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid - 18,000
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