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Registered number: 08060330
Duffield Construction Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08060330
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 39,551 52,734
39,551 52,734
CURRENT ASSETS
Debtors 5 9,263 14,516
Cash at bank and in hand 178,174 149,390
187,437 163,906
Creditors: Amounts Falling Due Within One Year 6 (129,462 ) (104,629 )
NET CURRENT ASSETS (LIABILITIES) 57,975 59,277
TOTAL ASSETS LESS CURRENT LIABILITIES 97,526 112,011
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,888 ) (13,184 )
NET ASSETS 87,638 98,827
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 87,538 98,727
SHAREHOLDERS' FUNDS 87,638 98,827
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
S C Whiteman
Director
28th January 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Duffield Construction Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08060330 . The registered office is Unit 8 Wheatcroft Business Park , Landmere Lane, Edwalton, Nottingham, NG12 4DG.
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.
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 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Taxation
Corporation 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 71,500 68,038 711 965 141,214
As at 31 May 2024 71,500 68,038 711 965 141,214
Depreciation
As at 1 June 2023 57,420 30,687 353 20 88,480
Provided during the period 3,520 9,338 89 236 13,183
As at 31 May 2024 60,940 40,025 442 256 101,663
Net Book Value
As at 31 May 2024 10,560 28,013 269 709 39,551
As at 1 June 2023 14,080 37,351 358 945 52,734
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,320 11,900
Other debtors 943 2,616
9,263 14,516
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 19,148 15,709
Taxation and social security 28,110 12,164
Other creditors 82,204 76,756
129,462 104,629
7. Related Party Transactions
As at the year end the company owed the director £80,165 (2023: £71,539).
8. Ultimate Controlling Party
The controlling party is S C Whiteman.
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