ACCOUNTS - Final Accounts preparation

Company Registration Number: 01951003

DEERNESS FENCING & LANDSCAPING LIMITED

FINANCIAL STATEMENTS

31 DECEMBER 2024

DEERNESS FENCING & LANDSCAPING LIMITED

REGISTERED NUMBER: 01951003

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	5		542,692		554,140
			542,692		554,140
Current assets
Stocks	6	171,597		168,782
Debtors: amounts falling due within one year	7	2,344,512		2,427,035
Cash at bank and in hand		791,451		848,853
		3,307,560		3,444,670
Creditors: amounts falling due within one year	8	(584,775)		(957,424)
Net current assets			2,722,785		2,487,246
Total assets less current liabilities			3,265,477		3,041,386
Creditors: amounts falling due after more than one year	9		(227,688)		(161,730)
Provisions for liabilities
Deferred tax		(97,246)		(91,730)
			(97,246)		(91,730)
Net assets			2,940,543		2,787,926

Capital and reserves
Called up share capital			1,500,000		1,500,000
Profit and loss account			1,440,543		1,287,926
			2,940,543		2,787,926

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Mr M F Hogan

Director

Date: 29 September 2025

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DEERNESS FENCING & LANDSCAPING LIMITED

REGISTERED NUMBER: 01951003

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The notes on pages 3 to 9 form part of these financial statements.

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DEERNESS FENCING & LANDSCAPING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

The company is a private company limited by share capital, incorporated in England.
The address of its registered office is New House, Bowburn North Industrial Estate, Bowburn, Durham, DH6 5PF.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling and this is the functional currency of the company.

The following principal accounting policies have been applied:

2.2

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Construction contracts
The amount of profit attributable to the stage of completion of a long term contract is recognised when the outcome of the contract can be estimated reliably. Turnover for such contracts is stated at cost appropriate to their stage of completion plus attributable profits, less amounts recognised in previous years. Turnover inlcudes the initial amount agreed in the contract plus any variations in contracted work, to the extent that it is probable that they will result in revenue and can be measured reliably. The stage of completion of a contract is assessed by reference to completion of a physical proportion of the contract work. Provision is made for any losses as soon as they are foreseen. Amounts recoverable on contracts are included in debtors and represent turnover recognised in excess of payments on account.

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DEERNESS FENCING & LANDSCAPING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.3

Leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Assets held under finance leases are initially recognised as assets of the Company at their value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs. Contingent rentals are recognised as expenses in the periods in which they are incurred.

2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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DEERNESS FENCING & LANDSCAPING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation is provided on the following basis:

				Long-term leasehold property	-	20%	straight line
				Plant and machinery	-	33%	straight line
				Motor vehicles	-	30%	reducing balance
				Fixtures and fittings	-	33%	straight line
				Heavy plant	-	20%	reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Amounts recoverable on contracts

Amounts recoverable on contracts represent the recoverable time costs of incomplete matters at the year end, inlcuding any profit element, excluding any matters where the right to consideration is contingent and the contingency has not been fulfilled at the balance sheet date.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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DEERNESS FENCING & LANDSCAPING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.11

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.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

Stage of completion of contracts
The amount of profit attributable to the stage of completion of a long term contract is recognised when the outcome of the contract can be estimated reliably. Turnover for such contracts is stated at cost appropriate to their stage of completion plus attributable profits, less amounts recognised in previous years.
Valuation of retention provision
The provision for retentions of £71,625 (2023: £121,143) represents the directors' best estimate of the present value of the cost to the company due to the recoverability of the retention debtor. The estimate takes into account the expected timing of payments and the number of retentions which are deemed recoverable. The provision for retention is included within other debtors.

4.

Employees

The average number of employees, including the directors, during the year was as follows:

			2024	2023
			No.	No.

		Employees	53	51

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		DEERNESS FENCING & LANDSCAPING LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

	5.	Tangible fixed assets

		Long-term leasehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Heavy plant	Total
		£	£	£	£	£	£
	Cost or valuation
	At 1 January 2024	11,000	136,929	717,159	82,457	58,630	1,006,175
	Additions	-	-	210,730	5,354	-	216,084
	Disposals	-	(8,145)	(103,476)	-	(2,436)	(114,057)
	At 31 December 2024	11,000	128,784	824,413	87,811	56,194	1,108,202
	Depreciation
	At 1 January 2024	6,050	126,680	258,780	32,045	28,480	452,035
	Charge for the year on owned assets	2,200	7,751	174,462	27,093	6,018	217,524
	Disposals	-	(8,145)	(93,622)	-	(2,282)	(104,049)
	At 31 December 2024	8,250	126,286	339,620	59,138	32,216	565,510
	Net book value
	At 31 December 2024	2,750	2,498	484,793	28,673	23,978	542,692
	At 31 December 2023	4,950	10,249	458,378	50,413	30,150	554,140

Included in the total net book value of fixed assets is £345,894 (2023: £258,629) relating to assets held under finance leases and similar hire purchase contracts. Depreciation charged in the year on these assets was £114,465 (2023: £55,330).

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DEERNESS FENCING & LANDSCAPING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Stocks
					2024	2023
					£	£

	Raw materials and consumables	171,597	168,782

7.

Debtors

					2024	2023
					£	£


	Trade debtors	163,597	245,781
	Amounts owed by group undertakings	1,300,000	1,300,000
	Prepayments and accrued income	20,084	13,029
	Other debtors	860,831	868,225
		2,344,512	2,427,035

Included in Other debtors is £699,748 (2023: £721,464) relating to amounts recoverable on contracts.

8.	Creditors: Amounts falling due within one year
					2024	2023
					£	£

	Trade creditors	291,013	344,581
	Taxation and social security	79,101	88,179
	Accruals and deferred income	54,519	217,569
	Other creditors	80,557	68,640
	Corporation tax liability	-	191,322
	Obligations under finance lease and hire purchase contracts	79,585	47,133
		584,775	957,424

9.	Creditors: Amounts falling due after more than one year
					2024	2023
					£	£

	Net obligations under finance leases and hire purchase contracts	227,688	161,730

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DEERNESS FENCING & LANDSCAPING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.	Hire purchase and finance leases
	Minimum lease payments under hire purchase fall due as follows:
					2024	2023
					£	£

	Within one year	79,585	47,133
	Between 1-5 years	227,688	161,730
		307,273	208,863

11.	Share capital
					2024	2023
					£	£

		Allotted, called up and fully paid

		1,500,000 (2023 - 1,500,000) Ordinary shares shares of £1.00 each	1,500,000	1,500,000

12.	Related party transactions
	The company has taken advantage of the exemption under Section 33 of FRS 102 from disclosing transactions with members of the Vestbrown (Newco) Limited group.

13.	Controlling party

The company's immediate parent is Dearness Investments Limited, incorporated in England.
The ultimate parent is Vestbrown (Newco) Limited, incorporated in England.
The parent of the largest group producing publicly available financial statements is Vestbrown (Newco) Limited. These financial statements are available upon request from Dere Street House, Bowburn North Industrial Estate, Bowburn, Durham, United Kingdom, DH6 5PF.

14.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 29 September 2025 by Simon Turner (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.

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