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Registered number: 03103291
Ducron Construction Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Hilary Adams Ltd
158 High Street
Herne Bay
Kent
CT6 5NP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 03103291
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 149,573 134,264
Investment Properties 6 138,770 138,770
288,343 273,034
CURRENT ASSETS
Debtors 7 1,801,155 473,691
Cash at bank and in hand 622,755 1,701,906
2,423,910 2,175,597
Creditors: Amounts Falling Due Within One Year 8 (411,804 ) (262,226 )
NET CURRENT ASSETS (LIABILITIES) 2,012,106 1,913,371
TOTAL ASSETS LESS CURRENT LIABILITIES 2,300,449 2,186,405
Creditors: Amounts Falling Due After More Than One Year 9 (11,675 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (57,347 ) (52,923 )
NET ASSETS 2,231,427 2,133,482
CAPITAL AND RESERVES
Called up share capital 11 2 2
Fair value reserve 12 80,453 80,453
Profit and Loss Account 2,150,972 2,053,027
SHAREHOLDERS' FUNDS 2,231,427 2,133,482
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Richard Douglas
Director
1 September 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ducron Construction Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03103291 . The registered office is 64 Mortimer Street, Herne Bay, Kent, CT6 5PS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of twenty years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% on cost
Plant & Machinery 10% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 10% on reducing balance
Computer Equipment 25% on cost
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Page 4
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
Page 4
Page 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 19,200
As at 31 December 2024 19,200
Amortisation
As at 1 January 2024 19,200
As at 31 December 2024 19,200
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2024 61,101 148,386 212,836 11,864
Additions - 7,351 45,009 -
Disposals - (4,038 ) (16,250 ) -
As at 31 December 2024 61,101 151,699 241,595 11,864
Depreciation
As at 1 January 2024 61,101 83,000 159,598 7,436
Provided during the period - 7,279 24,563 443
Disposals - (3,360 ) (15,865 ) -
As at 31 December 2024 61,101 86,919 168,296 7,879
Net Book Value
As at 31 December 2024 - 64,780 73,299 3,985
As at 1 January 2024 - 65,386 53,238 4,428
Page 5
Page 6
Computer Equipment Total
£ £
Cost
As at 1 January 2024 30,060 464,247
Additions 1,175 53,535
Disposals (150 ) (20,438 )
As at 31 December 2024 31,085 497,344
Depreciation
As at 1 January 2024 18,848 329,983
Provided during the period 4,803 37,088
Disposals (75 ) (19,300 )
As at 31 December 2024 23,576 347,771
Net Book Value
As at 31 December 2024 7,509 149,573
As at 1 January 2024 11,212 134,264
Investment property was valued on an open market basis on 31 December 2022 by the directors.
6. Investment Property
2024
£
Fair Value
As at 1 January 2024 and 31 December 2024 138,770
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 347,562 289,563
Prepayments and accrued income 293,505 184,128
Other debtors 1,160,000 -
Sundry debtors 88 -
1,801,155 473,691
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,646 -
Trade creditors 175,169 66,055
Corporation tax 73,228 83,868
Other taxes and social security 16,022 12,483
VAT 137,673 96,557
Accruals and deferred income 2,336 2,278
Directors' loan accounts 730 985
411,804 262,226
The company has total commitments under non cancellable operating leases totalling £15,000 (2023 £12,000).
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,675 -
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,646 -
Later than one year and not later than five years 11,675 -
18,321 -
18,321 -
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
12. Reserves
Fair Value Reserve
£
As at 1 January 2024 80,453
As at 31 December 2024 80,453
Page 7