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COMPANY REGISTRATION NUMBER: 6625032
Richard Deacon Builders Limited
Filleted Unaudited Financial Statements
30 June 2024
Richard Deacon Builders Limited
Financial Statements
Year ended 30 June 2024
Contents
Page
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
Richard Deacon Builders Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Richard Deacon Builders Limited
Year ended 30 June 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 June 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
HARPER SHELDON LIMITED Chartered Accountants
Midway House Staverton Technology Park Herrick Way, Staverton Cheltenham, Glos. GL51 6TQ
25 June 2025
Richard Deacon Builders Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
11,422
14,493
Current assets
Stocks
405,680
405,680
Debtors
6
823
1,152
Cash at bank and in hand
1,011
411
---------
---------
407,514
407,243
Creditors: amounts falling due within one year
7
( 182,076)
( 127,311)
---------
---------
Net current assets
225,438
279,932
---------
---------
Total assets less current liabilities
236,860
294,425
Creditors: amounts falling due after more than one year
8
( 50,892)
( 54,748)
Provisions
Taxation including deferred tax
( 2,754)
---------
---------
Net assets
185,968
236,923
---------
---------
Richard Deacon Builders Limited
Statement of Financial Position (continued)
30 June 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
185,966
236,921
---------
---------
Shareholders funds
185,968
236,923
---------
---------
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 year ending 30 June 2024 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his 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 25 June 2025 , and are signed on behalf of the board by:
R.J. Deacon
Director
Company registration number: 6625032
Richard Deacon Builders Limited
Notes to the Financial Statements
Year ended 30 June 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 Midway House, Staverton Technology Park, Herrick Way, Staverton, Cheltenham, Glos, GL51 6TQ.
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. 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, stated net of Value Added Tax. Turnover relating to the sale of property is derived from the gross proceeds on exchange of contracts. Turnover relating to work done is derived according to the stage of completion of each contract.
Taxation
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 assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and equipment
-
15% reducing balance
Motor vehicle
-
25% reducing balance
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.
Stocks
Work in progress is valued at cost.
Hire purchase contracts
Assets held under hire purchase contracts are capitalised as tangible fixed assets at their fair value with the corresponding liability included as an obligation under hire purchase contracts. Hire purchase repayments are treated as consisting of capital and interest elements, and interest is charged to the profit and loss account on a straight line basis which is considered to be a reasonable approximation to a constant rate of charge on the outstanding balance.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Plant and equipment
Motor vehicle
Total
£
£
£
Cost
At 1 July 2023
6,265
27,950
34,215
Additions
220
220
-------
--------
--------
At 30 June 2024
6,485
27,950
34,435
-------
--------
--------
Depreciation
At 1 July 2023
2,826
16,896
19,722
Charge for the year
527
2,764
3,291
-------
--------
--------
At 30 June 2024
3,353
19,660
23,013
-------
--------
--------
Carrying amount
At 30 June 2024
3,132
8,290
11,422
-------
--------
--------
At 30 June 2023
3,439
11,054
14,493
-------
--------
--------
6. Debtors
2024
2023
£
£
Other debtors
823
1,152
----
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
22,749
11,847
Social security and other taxes
12,397
34,756
Other creditors
146,930
80,708
---------
---------
182,076
127,311
---------
---------
Other creditors include a loan from the director of £138,559 (2023 - £66,918) and obligations under hire purchase contracts of £3,856 (2023 - £3,856). Obligations under hire purchase contracts are secured by a charge over the asset to which they relate.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loan
43,184
43,184
Other creditors
7,708
11,564
--------
--------
50,892
54,748
--------
--------
The bank loan is supported by the Bounce Back Loan Scheme Guarantee from the UK Government. The bank loan is repayable by instalments of which £19,184 (2023 - £19,184) is repayable after more than five years. Other creditors comprise obligations under hire purchase contracts which are secured by a charge over the asset to which they relate.
9. Related party transactions
The loan from the director to the company has been provided interest free.