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Registration number: 05415167

SD Construction (South West) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

SD Construction (South West) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

SD Construction (South West) Limited

Company Information

Director

Mr A S Duncan

Registered office

58 Leys Road
Chelston
Torquay
Devon
TQ2 6ED

Accountants

Neil Wilson & Co Chartered Accountants Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

SD Construction (South West) Limited

(Registration number: 05415167)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

7,719

10,293

Current assets

 

Stocks

5

3,726

-

Debtors

6

-

737

Cash at bank and in hand

 

-

2,654

 

3,726

3,391

Creditors: Amounts falling due within one year

7

(39,222)

(34,937)

Net current liabilities

 

(35,496)

(31,546)

Net liabilities

 

(27,777)

(21,253)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(27,778)

(21,254)

Shareholders' deficit

 

(27,777)

(21,253)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 12 June 2025
 

.........................................
Mr A S Duncan
Director

 

SD Construction (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
58 Leys Road
Chelston
Torquay
Devon
TQ2 6ED
United Kingdom

These financial statements were authorised for issue by the director on 12 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% Reducing balance

 

SD Construction (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Motor vehicles

25% Reducing balance

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 2).

 

SD Construction (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2024

320

18,288

1,020

19,628

At 31 March 2025

320

18,288

1,020

19,628

Depreciation

At 1 April 2024

319

8,001

1,015

9,335

Charge for the year

1

2,572

1

2,574

At 31 March 2025

320

10,573

1,016

11,909

Carrying amount

At 31 March 2025

-

7,715

4

7,719

At 31 March 2024

1

10,287

5

10,293

5

Stocks

2025
£

2024
£

Work in progress

3,726

-

6

Debtors

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

6,112

5,413

Taxation and social security

 

854

568

Accruals and deferred income

 

1,075

1,025

Other creditors

 

31,181

27,931

 

39,222

34,937

8

Share capital

Allotted, called up and fully paid shares

 

SD Construction (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

2025

2024

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

9

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Bank borrowings

3,350

5,413

Bank overdrafts

2,762

-

6,112

5,413

10

Dividends

11

Related party transactions

Transactions with the director

2025

At 1 April 2024
£

Advances to director
£

At 31 March 2025
£

Mr A S Duncan

Director loan

(27,931)

(3,250)

(31,181)

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr A S Duncan

Director loan

(27,040)

1,509

(2,400)

(27,931)

Director's remuneration

The director's remuneration for the year was as follows:

2025
£

2024
£

Remuneration

12,570

12,570