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COMPANY REGISTRATION NUMBER: 06767632
DEAN & DEAN CONSTRUCTION LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
DEAN & DEAN CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
106,989
130,175
Current assets
Stocks
937,495
175,888
Debtors
6
622,294
1,054,921
Cash at bank and in hand
448,035
372,014
------------
------------
2,007,824
1,602,823
Creditors: amounts falling due within one year
7
1,151,754
954,808
------------
------------
Net current assets
856,070
648,015
---------
---------
Total assets less current liabilities
963,059
778,190
Creditors: amounts falling due after more than one year
8
616,392
81,597
Provisions
Taxation including deferred tax
20,328
24,733
---------
---------
Net assets
326,339
671,860
---------
---------
Capital and reserves
Called up share capital
20,000
3
Profit and loss account
306,339
671,857
---------
---------
Shareholders funds
326,339
671,860
---------
---------
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 comprehensive income has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year 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 .
DEAN & DEAN CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 11 December 2024 , and are signed on behalf of the board by:
Mr T Dean
Director
Company registration number: 06767632
DEAN & DEAN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 March 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 Ash House, Breckenwood Road, Fulbourn, Cambridge, CB21 5DQ.
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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible fixed assets are stated at cost less accumulated depreciation. Individual items of a capital nature with a cost of less than £250 are expensed directly to income.
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
-
25% straight line
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% straight line
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 6 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2023
248,080
9,393
93,573
35,412
386,458
Additions
3,819
6,990
6,420
17,229
---------
-------
---------
--------
---------
At 31 March 2024
251,899
9,393
100,563
41,832
403,687
---------
-------
---------
--------
---------
Depreciation
At 1 April 2023
201,767
9,047
21,181
24,288
256,283
Charge for the year
14,476
346
19,498
6,095
40,415
---------
-------
---------
--------
---------
At 31 March 2024
216,243
9,393
40,679
30,383
296,698
---------
-------
---------
--------
---------
Carrying amount
At 31 March 2024
35,656
59,884
11,449
106,989
---------
-------
---------
--------
---------
At 31 March 2023
46,313
346
72,392
11,124
130,175
---------
-------
---------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
285,370
242,558
Amounts owed by group undertakings and undertakings in which the company has a participating interest
476,010
Other debtors
336,924
336,353
---------
------------
622,294
1,054,921
---------
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
812,970
587,777
Amounts owed to group undertakings and undertakings in which the company has a participating interest
384
Corporation tax
29,906
68,007
Social security and other taxes
31,637
29,056
Other creditors
266,857
259,968
------------
---------
1,151,754
954,808
------------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
18,333
28,333
Other creditors
598,059
53,264
---------
--------
616,392
81,597
---------
--------
9. Related party transactions
The company is wholly owned by Duo Investments Limited. Duo Investments Ltd is controlled by M and T Dean through their companies Duo MJD Ltd and Duo TJD Ltd. At 31 March 2024 the company owed £384 to Duo Investments Ltd (2023 Debtor: £476,010).