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COMPANY REGISTRATION NUMBER: 05868438
DOWLING CIVIL ENGINEERING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 April 2024
DOWLING CIVIL ENGINEERING LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
£
Fixed Assets
Tangible assets
6
315,116
198,935
Current Assets
Debtors
7
447,954
1,611,761
Cash at bank and in hand
958,315
263,800
--------------
--------------
1,406,269
1,875,561
Creditors: amounts falling due within one year
8
399,431
1,204,515
--------------
--------------
Net Current Assets
1,006,838
671,046
--------------
-----------
Total Assets Less Current Liabilities
1,321,954
869,981
Creditors: amounts falling due after more than one year
9
153,148
122,828
Provisions
Taxation including deferred tax
54,350
32,850
--------------
-----------
Net Assets
1,114,456
714,303
--------------
-----------
DOWLING CIVIL ENGINEERING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
2024
2023
Note
£
£
£
£
Capital and Reserves
Called up share capital
100
100
Profit and loss account
1,114,356
714,203
--------------
-----------
Shareholders Funds
1,114,456
714,303
--------------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 January 2025 , and are signed on behalf of the board by:
P M Dowling
Director
Company registration number: 05868438
DOWLING CIVIL ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 30 APRIL 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit G Westminster Trading Estate, Station Road, North Hykeham, Lincoln, LN6 3QY.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% straight line
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance Leases and Hire Purchase Contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee Numbers
The average number of persons employed by the company during the period amounted to 9 (2023: 6 ).
5. Intangible Assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
30,000
---------
Amortisation
At 1 May 2023 and 30 April 2024
30,000
---------
Carrying amount
At 30 April 2024
---------
At 30 April 2023
---------
6. Tangible Assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 May 2023
32,196
3,404
227,995
19,913
283,508
Additions
77,336
11,325
170,105
958
259,724
Disposals
( 104,505)
( 104,505)
-----------
---------
-----------
---------
-----------
At 30 April 2024
109,532
14,729
293,595
20,871
438,727
-----------
---------
-----------
---------
-----------
Depreciation
At 1 May 2023
22,761
2,333
50,114
9,365
84,573
Charge for the period
3,602
1,236
40,865
5,198
50,901
Disposals
( 11,863)
( 11,863)
-----------
---------
-----------
---------
-----------
At 30 April 2024
26,363
3,569
79,116
14,563
123,611
-----------
---------
-----------
---------
-----------
Carrying amount
At 30 April 2024
83,169
11,160
214,479
6,308
315,116
-----------
---------
-----------
---------
-----------
At 30 April 2023
9,435
1,071
177,881
10,548
198,935
-----------
---------
-----------
---------
-----------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 30 April 2024
203,437
-----------
At 30 April 2023
163,158
-----------
7. Debtors
2024
2023
£
£
Trade debtors
326,426
1,410,375
Amounts owed by group undertakings
14,000
5,500
Other debtors
107,528
195,886
-----------
--------------
447,954
1,611,761
-----------
--------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
Trade creditors
186,149
895,267
Social security and other taxes
137,857
128,688
Other creditors
75,425
170,560
-----------
--------------
399,431
1,204,515
-----------
--------------
Liabilities totalling £47,242 (2023 - £42,947) are secured against the company's assets.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,430
Other creditors
153,148
109,398
-----------
-----------
153,148
122,828
-----------
-----------
Liabilities totalling £153,148 (2023 - £109,398) are secured against the company's assets.
10. Directors' Advances, Credits and Guarantees
During the period the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
K M Dowling
6,627
14,774
21,401
P M Dowling
6,627
14,774
21,401
---------
---------
-----
---------
13,254
29,548
42,802
---------
---------
-----
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
K M Dowling
7,855
( 1,228)
6,627
P M Dowling
7,855
( 1,228)
6,627
---------
-----
--------
---------
15,710
( 2,456)
13,254
---------
-----
--------
---------
All balances are repayable on demand and subject to interest at the official rate.
11. Controlling Party
The company is a wholly owned subsidiary of Hykeham Holdings Ltd, a company registered in the UK.