Registered number
12924376
Domicile Construction Ltd
Filleted Accounts
31 October 2024
Domicile Construction Ltd
Registered number: 12924376
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 138,937 144,129
Current assets
Stocks 395,050 283,350
Debtors 4 290,563 196,549
Cash at bank and in hand 15,563 1,071
701,176 480,970
Creditors: amounts falling due within one year 5 (178,092) (279,008)
Net current assets 523,084 201,962
Total assets less current liabilities 662,021 346,091
Creditors: amounts falling due after more than one year 6 (414,635) (127,243)
Provisions for liabilities (20,002) (20,292)
Net assets 227,384 198,556
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 217,384 188,556
Shareholder's funds 227,384 198,556
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Talat Mahmood
Director
Approved by the board on 9 December 2024
Domicile Construction Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Motor vehicles over 5 years
Stock and Work-In-Progress
Stock and work-in-progress is measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 148,363 36,833 185,196
Additions 22,855 - 22,855
At 31 October 2024 171,218 36,833 208,051
Depreciation
At 1 November 2023 34,231 6,836 41,067
Charge for the year 20,548 7,499 28,047
At 31 October 2024 54,779 14,335 69,114
Net book value
At 31 October 2024 116,439 22,498 138,937
At 31 October 2023 114,132 29,997 144,129
4 Debtors 2024 2023
£ £
Trade debtors 176,712 102,520
Other debtors 113,851 94,029
290,563 196,549
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 38,329 68,253
Obligations under finance lease and hire purchase contracts 8,360 76,907
Trade creditors 120,259 106,598
Accruals and deferred income 2,110 1,776
Taxation and social security costs 9,034 25,114
Other creditors - 360
178,092 279,008
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 167,219 -
Director's account 247,416 127,243
414,635 127,243
7 Other information
Domicile Construction Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Office 8 2nd Floor Unique Enterprise Centre
Benfield Road
Rochdale
Lancashire
OL16 2UP
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