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Company No: 07166846 (England and Wales)

D&D CARPENTRY SOUTH EAST LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

D&D CARPENTRY SOUTH EAST LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

D&D CARPENTRY SOUTH EAST LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2025
D&D CARPENTRY SOUTH EAST LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2025
Directors Derek Barton
David Barton
Secretary David Barton
Registered office Barton House
Barton's Court
The Street
Bredhurst
Kent
ME7 3LQ
United Kingdom
Company number 07166846 (England and Wales)
Accountant Kreston Reeves LLP
37 St Margarets Street
Canterbury
Kent
CT1 2TU

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF D&D CARPENTRY SOUTH EAST LIMITED

For the financial year ended 31 March 2025

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF D&D CARPENTRY SOUTH EAST LIMITED (continued)

For the financial year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of D&D Carpentry South East Limited for the financial year ended 31 March 2025 which comprise the Balance Sheet and the related notes 1 to 16 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that D&D Carpentry South East Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of D&D Carpentry South East Limited. You consider that D&D Carpentry South East Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of D&D Carpentry South East 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 financial statements.

This report is made solely to the Board of Directors of D&D Carpentry South East Limited, as a body, in accordance with the terms of our engagement letter dated 30 July 2024. Our work has been undertaken solely to prepare for your approval the financial statements of D&D Carpentry South East Limited and state those matters that we have agreed to state to the Board of Directors of D&D Carpentry South East 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&D Carpentry South East Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

37 St Margarets Street
Canterbury
Kent
CT1 2TU

02 July 2025

D&D CARPENTRY SOUTH EAST LIMITED

BALANCE SHEET

As at 31 March 2025
D&D CARPENTRY SOUTH EAST LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Intangible assets 3 31,451 0
Tangible assets 4 2,703,384 2,716,503
Investment property 5 600,000 550,000
3,334,835 3,266,503
Current assets
Stocks 15,661 15,252
Debtors 6 2,452,450 2,216,546
Cash at bank and in hand 598,311 901,282
3,066,422 3,133,080
Creditors: amounts falling due within one year 7 ( 731,936) ( 445,777)
Net current assets 2,334,486 2,687,303
Total assets less current liabilities 5,669,321 5,953,806
Creditors: amounts falling due after more than one year 8 ( 800,054) ( 940,045)
Provision for liabilities 9 ( 74,779) ( 62,279)
Net assets 4,794,488 4,951,482
Capital and reserves
Called-up share capital 10 400 400
Profit and loss account 4,794,088 4,951,082
Total shareholders' funds 4,794,488 4,951,482

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.

Directors' responsibilities:

The financial statements of D&D Carpentry South East Limited (registered number: 07166846) were approved and authorised for issue by the Board of Directors on 02 July 2025. They were signed on its behalf by:

Derek Barton
Director
D&D CARPENTRY SOUTH EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
D&D CARPENTRY SOUTH EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

D&D Carpentry South East Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Barton House, Barton's Court, The Street, Bredhurst, Kent, ME7 3LQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 4 years straight line
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 32 26

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 April 2024 0 0
Additions 41,935 41,935
At 31 March 2025 41,935 41,935
Accumulated amortisation
At 01 April 2024 0 0
Charge for the financial year 10,484 10,484
At 31 March 2025 10,484 10,484
Net book value
At 31 March 2025 31,451 31,451
At 31 March 2024 0 0

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 April 2024 1,665,698 137,870 1,394,259 142,655 97,159 3,437,641
Additions 0 6,522 291,021 12,423 11,619 321,585
Disposals 0 0 ( 48,285) ( 608) ( 19,065) ( 67,958)
At 31 March 2025 1,665,698 144,392 1,636,995 154,470 89,713 3,691,268
Accumulated depreciation
At 01 April 2024 0 87,823 517,096 67,916 48,303 721,138
Charge for the financial year 0 12,916 266,593 19,986 13,708 313,203
Disposals 0 0 ( 32,737) ( 462) ( 13,258) ( 46,457)
At 31 March 2025 0 100,739 750,952 87,440 48,753 987,884
Net book value
At 31 March 2025 1,665,698 43,653 886,043 67,030 40,960 2,703,384
At 31 March 2024 1,665,698 50,047 877,163 74,739 48,856 2,716,503

The net book value of land and building is £1,665,698 (2024: £1,665,698).

5. Investment property

Investment property
£
Valuation
As at 01 April 2024 550,000
Fair value movement 50,000
As at 31 March 2025 600,000

The 2025 valuations were made by the directors, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2025 2024
£ £
Historic cost 280,153 280,153

6. Debtors

2025 2024
£ £
Trade debtors 1,998,371 1,699,456
Amounts owed by associates 322,664 406,795
Other debtors 131,415 110,295
2,452,450 2,216,546

7. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans 126,441 118,991
Trade creditors 166,480 135,126
Amounts owed to associates 14,028 0
Taxation and social security 177,648 19,307
Obligations under finance leases and hire purchase contracts 149,464 95,766
Other creditors 97,875 76,587
731,936 445,777

8. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans 477,959 603,628
Obligations under finance leases and hire purchase contracts 322,095 336,417
800,054 940,045

There are no amounts included above in respect of which any security has been given by the small entity.

9. Deferred tax

2025 2024
£ £
At the beginning of financial year ( 62,279) ( 62,279)
Charged to the Statement of Income and Retained Earnings ( 12,500) 0
At the end of financial year ( 74,779) ( 62,279)

The deferred taxation balance is made up as follows:

2025 2024
£ £
Future chargeable gains on investment property gains ( 74,779) ( 62,279)

10. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
400 Ordinary shares of £ 1.00 each 400 400

11. Financial commitments

Pensions

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £14,921 (2024: £9,151). Contributions totalling £4,233 (2024: £3,177) were payable to the fund at the balance sheet date and are included in creditors.

12. Related party transactions

Other related party transactions

All payments made to the directors were made under normal market conditions.

13. Reserves

Profit & loss account

Included within the profit and loss account reserves are non-distributable reserves resulting from the fair value movement on investment properties, less the associated deferred tax provision. As at 31 March 2025 these non-distributable reserves amounted to £245,068 (2024: £207,568).

14. Hire purchase and finance leases

Minimum lease payments under hire purchase fall due as follows:

2025 2024
£ £
Within one year 149,462 95,766
Between 1-2 years 254,215 94,393
Between 2-5 years 67,880 242,025
471,557 432,184

15. Loans

Analysis of the maturity of loans is given below:

2025 2024
£ £
Bank loans within 1 year (126,441) (118,991)
Bank loans 1-2 years (96,029) (126,441)
Bank loans 2-5 years (138,014) (193,448)
Bank loans more than 5 years (243,916) (283,739)
(604,400) (722,619)

16. Ultimate controlling party

There is no overall controlling party by virtue of an equal shareholding between the directors.