2023-04-012024-03-312024-03-31false07192727D & G BUILDERS CORNWALL 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D & G BUILDERS CORNWALL LIMITED

Registered Number
07192727
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

D & G BUILDERS CORNWALL LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

SUTTON, Dan
SUTTON, Rachel

Registered Address

Little Menheer Farm
Higher Ninnis
Redruth
TR16 5HD

Registered Number

07192727 (England and Wales)
D & G BUILDERS CORNWALL LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3119,415107,255
119,415107,255
Current assets
Stocks4148,00090,000
Debtors5280,14523,799
Cash at bank and on hand60,198331,810
488,343445,609
Creditors amounts falling due within one year6(189,715)(257,913)
Net current assets (liabilities)298,628187,696
Total assets less current liabilities418,043294,951
Creditors amounts falling due after one year7(13,044)(23,228)
Provisions for liabilities8(11,612)-
Net assets393,387271,723
Capital and reserves
Profit and loss account393,387271,723
Shareholders' funds393,387271,723
The financial statements were approved and authorised for issue by the Board of Directors on 10 September 2024, and are signed on its behalf by:
SUTTON, Dan
Director
Registered Company No. 07192727
D & G BUILDERS CORNWALL LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery20
Vehicles10
Office Equipment20
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 23154,13362,333874217,340
Additions35,253-93436,187
At 31 March 24189,38662,3331,808253,527
Depreciation and impairment
At 01 April 2394,18515,725175110,085
Charge for year19,0404,66032724,027
At 31 March 24113,22520,385502134,112
Net book value
At 31 March 2476,16141,9481,306119,415
At 31 March 2359,94846,608699107,255
4.Stocks

2024

2023

££
Other stocks148,00090,000
Total148,00090,000
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables22,7582,402
Other debtors257,38721,397
Total280,14523,799
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,0781,073
Bank borrowings and overdrafts10,1849,933
Taxation and social security28,4545,043
Other creditors148,930240,795
Accrued liabilities and deferred income1,0691,069
Total189,715257,913
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts13,04423,228
Total13,04423,228
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)11,612-
Total11,612-