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Registered Number: 09250947
England and Wales

 

 

 

D & C GROUNDTEC LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024
Directors Christopher MORGAN
David Stuart MORGAN
Registered Number 09250947
Registered Office Monnow Barn, Common Road
MItchel Troy Common
Monmouth
Monmouthshire
NP25 4JB
Accountants Child and Child Accountants Ltd
49 Somerset Street
Abertillery
Gwent
NP13 1DL
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 October 2024
Principal activities
Principal activity of the company during the financial year was of roads and other civil engineering projects.
Directors
The directors who served the company throughout the year were as follows:
Christopher MORGAN
David Stuart MORGAN
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
David Stuart MORGAN
Director

Date approved: 09 May 2025
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of D & C GROUNDTEC LIMITED for the year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of D & C GROUNDTEC LIMITED for the year ended 31 October 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of D & C GROUNDTEC LIMITED , as a body, in accordance with the terms of our engagement letter dated 09 May 2025. Our work has been undertaken solely to prepare for your approval the accounts of D & C GROUNDTEC LIMITED and state those matters that we have agreed to state to the Board of Directors of D & C GROUNDTEC LIMITED , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D & C GROUNDTEC LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that D & C GROUNDTEC LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of D & C GROUNDTEC LIMITED . You consider that D & C GROUNDTEC LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of D & C GROUNDTEC LIMITED . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts



....................................................
Child and Child Accountants Ltd
49 Somerset Street
Abertillery
Gwent
NP13 1DL
09 May 2025
3
 
 
Notes
 
2024
£
  2023
£
Turnover 993,852    1,700,154 
Cost of sales (471,437)   (758,820)
Gross profit 522,415    941,334 
Administrative expenses (528,024)   (678,450)
Operating profit/(loss) (5,609)   262,884 
Other interest receivable and similar income 5,060    5,368 
Interest payable and similar charges (39,147)   (26,363)
Profit/(Loss) on ordinary activities before taxation (39,696)   241,889 
Tax on profit on ordinary activities (70,402)   4,421 
Profit/(Loss) for the financial year (110,098)   246,310 
 
4
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 5 935,829    776,926 
935,829    776,926 
Current assets      
Stocks 6 500    500 
Debtors 7 418,513    441,192 
Cash at bank and in hand 305,925    385,337 
724,938    827,029 
Creditors: amount falling due within one year 8 (405,038)   (340,957)
Net current assets 319,900    486,072 
 
Total assets less current liabilities 1,255,729    1,262,998 
Creditors: amount falling due after more than one year 9 (454,714)   (293,106)
Provisions for liabilities 10 (233,957)   (141,737)
Net assets 567,058    828,155 
 

Capital and reserves
     
Called up share capital 100    100 
General Reserves 11 828,056    732,745 
Profit and loss account (261,098)   95,310 
Shareholders' funds 567,058    828,155 
 


For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 09 May 2025 and were signed on its behalf by:


-------------------------------
David Stuart MORGAN
Director
5
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 November 2022 100  100 
Profit for the year 246,310  246,310 
Total comprehensive income for the year 246,310  246,310 
Dividends (151,000) (151,000)
Total investments by and distributions to owners (151,000) (151,000)
At 31 October 2023 100  95,310  95,410 
At 01 November 2023 100  100 
Profit for the year (110,098) (110,098)
Total comprehensive income for the year (110,098) (110,098)
Dividends (151,000) (151,000)
Total investments by and distributions to owners (151,000) (151,000)
At 31 October 2024 100  (261,098) (260,998)
6
General Information
D & C GROUNDTEC LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09250947, registration address Monnow Barn, Common Road, MItchel Troy Common, Monmouth, Monmouthshire, NP25 4JB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 5 Years Straight Line
Motor Vehicles 20% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Directors' Emoluments

2024
£
  2023
£
Administrative Expenses
Directors Salaries 25,128    24,578 
25,128    24,578 

3.

Average number of employees

Average number of employees during the year was 6 (2023 : 9).
4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 November 2023 35,500    35,500 
Additions  
Disposals  
At 31 October 2024 35,500    35,500 
Amortisation
At 01 November 2023 35,500    35,500 
Charge for year  
On disposals  
At 31 October 2024 35,500    35,500 
Net book values
At 31 October 2024  
At 31 October 2023  


5.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 November 2023 1,545,234    329,075    1,874,309 
Additions 602,996    42,505    645,501 
Disposals (288,770)   (27,513)   (316,283)
At 31 October 2024 1,859,460    344,067    2,203,527 
Depreciation
At 01 November 2023 956,187    141,196    1,097,383 
Charge for year 314,153    66,649    380,802 
On disposals (187,870)   (22,617)   (210,487)
At 31 October 2024 1,082,470    185,228    1,267,698 
Net book values
Closing balance as at 31 October 2024 776,990    158,839    935,829 
Opening balance as at 01 November 2023 589,047    187,879    776,926 


6.

Stocks

2024
£
  2023
£
Stocks 500    500 
500    500 

7.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 70,618    95,645 
Prepayments 1,599    1,365 
Corporation Tax repayable 21,813   
S455 Debtor 76,986    76,986 
Directors' Current Account DM 197,706    228,108 
VAT 49,791    39,088 
418,513    441,192 

8.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 96,741    44,971 
Bank Loans 10,000    33,333 
Corporation Tax   31,898 
PAYE & Social Security 3,820    4,390 
Accruals 832    801 
Obligations under HP/Financial Leases 225,904    149,218 
Directors' Current Accounts CM 67,741    76,346 
405,038    340,957 

9.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 13,333   
Obligations Under HP/Financial Leases 441,381    293,106 
454,714    293,106 

10.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 233,957    141,737 
233,957    141,737 

11.

General Reserves

2024
£
  2023
£
General Reserve b/fwd 828,056    732,745 
828,056    732,745 

12.

Advances and Credits



Directors Loans
Mr D Morgan Loan

Current year (2024)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Directors Loans228,108 4,315 33,449 198,974 
228108043153344900198974
Previous year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Directors Loans198,183 25,453 4,472 228,108 
198183254534472000228108
7