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REGISTERED NUMBER: 05810591 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Devon & Cornwall Surfacing Ltd

Devon & Cornwall Surfacing Ltd (Registered number: 05810591)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Devon & Cornwall Surfacing Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr B P Vincent
Ms T Vincent





SECRETARY: Mr R Vincent





REGISTERED OFFICE: 69 High Street
Bideford
Devon
EX39 2AT





REGISTERED NUMBER: 05810591 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Devon & Cornwall Surfacing Ltd (Registered number: 05810591)

Abridged Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 237,241 232,204

CURRENT ASSETS
Debtors 263,295 188,740
Cash at bank 14,360 194,614
277,655 383,354
CREDITORS
Amounts falling due within one year 300,368 304,487
NET CURRENT (LIABILITIES)/ASSETS (22,713 ) 78,867
TOTAL ASSETS LESS CURRENT
LIABILITIES

214,528

311,071

CREDITORS
Amounts falling due after more than one
year

(127,698

)

(135,234

)

PROVISIONS FOR LIABILITIES (22,482 ) (51,381 )
NET ASSETS 64,348 124,456

CAPITAL AND RESERVES
Called up share capital 8 2 1
Capital redemption reserve 1 1
Retained earnings 64,345 124,454
SHAREHOLDERS' FUNDS 64,348 124,456

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Devon & Cornwall Surfacing Ltd (Registered number: 05810591)

Abridged Balance Sheet - continued
30 April 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





Mr B P Vincent - Director


Devon & Cornwall Surfacing Ltd (Registered number: 05810591)

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


1. STATUTORY INFORMATION

Devon & Cornwall Surfacing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% straight line
Plant and machinery - 25% straight line and 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 50% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Financial instruments
Basic financial instruments with no stated interest rate and receivable or 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. Loans and borrowings are initially recognised at the transaction price including transaction costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Devon & Cornwall Surfacing Ltd (Registered number: 05810591)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company has net current liabilities of £22,713 (2023 - net current assets of £78,867). The company also reported a pre-tax loss of £77,008 for the year.

The company is reliant on the continuing financial support of its creditors and while there are no reasons to doubt that this support will continue, inherently there can be no certainty in relation to these matters. On this basis, and having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from an inability to meet obligations as they fall due.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

Devon & Cornwall Surfacing Ltd (Registered number: 05810591)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 344,707
Additions 85,020
Disposals (24,454 )
At 30 April 2024 405,273
DEPRECIATION
At 1 May 2023 112,503
Charge for year 66,228
Eliminated on disposal (10,699 )
At 30 April 2024 168,032
NET BOOK VALUE
At 30 April 2024 237,241
At 30 April 2023 232,204


6. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 44,395 42,739
Between one and five years 116,031 113,567
160,426 156,306

Non-cancellable operating leases
2024 2023
£    £   
Within one year 12,600 -
Between one and five years 14,700 -
27,300 -

Devon & Cornwall Surfacing Ltd (Registered number: 05810591)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 160,426 156,306

The hire purchase contracts are secured over the assets to which they relate.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 1

1 Ordinary share of £1 was issued during the year for cash of £ 1 .