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Registered number: 11377628
DS Construction Services Ltd
Financial Statements
For The Year Ended 31 March 2024
Hilton Walters LLP
33/34 High Street
Bridgnorth
Shropshire
WV16 4DB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11377628
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 224,477 190,487
224,477 190,487
CURRENT ASSETS
Stocks 5 - 50,000
Debtors 6 328,588 101,578
Cash at bank and in hand 272,961 337,162
601,549 488,740
Creditors: Amounts Falling Due Within One Year 7 (117,832 ) (23,877 )
NET CURRENT ASSETS (LIABILITIES) 483,717 464,863
TOTAL ASSETS LESS CURRENT LIABILITIES 708,194 655,350
NET ASSETS 708,194 655,350
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 708,094 655,250
SHAREHOLDERS' FUNDS 708,194 655,350
Page 1
Page 2
For the year ending 31 March 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 Steadman
Director
22nd October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
DS Construction Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11377628 . The registered office is 33-34 High Street, Bridgnorth, Shropshire, WV16 4DB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 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. 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 20
Motor Vehicles 20
Computer Equipment 20
2.4. 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.
2.5. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 136,309 155,318 9,056 300,683
Additions 77,050 20,182 - 97,232
Disposals - (13,995 ) - (13,995 )
As at 31 March 2024 213,359 161,505 9,056 383,920
Depreciation
As at 1 April 2023 53,407 51,960 4,829 110,196
Provided during the period 31,990 21,450 845 54,285
Disposals - (5,038 ) - (5,038 )
As at 31 March 2024 85,397 68,372 5,674 159,443
Net Book Value
As at 31 March 2024 127,962 93,133 3,382 224,477
As at 1 April 2023 82,902 103,358 4,227 190,487
5. Stocks
2024 2023
£ £
Work in progress - 50,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 304,453 397
Prepayments and accrued income 10,500 11,000
Other debtors 13,635 15,235
VAT - 7,876
Other taxes and social security - 8,200
Directors' loan accounts - 58,870
328,588 101,578
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,892 1,505
Corporation tax 35,947 20,499
Other taxes and social security 25,338 -
VAT 12,033 -
Net wages 30,444 -
Accruals and deferred income 2,939 1,873
Directors' loan accounts 239 -
117,832 23,877
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr David Steadman 58,869 - 59,108 - (238 )
The above loan is unsecured, interest free and repayable on demand.
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