D. Herbert (Builders) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00574719 (England and Wales)

D. HERBERT (BUILDERS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D R J Herbert

REGISTERED OFFICE:

Rear of 378 Cyncoed Road

Cyncoed

CARDIFF

CF23 6SA

REGISTERED NUMBER:

00574719 (England and Wales)

ACCOUNTANTS:

Watts Gregory LLP

Chartered Accountants

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Tangible assets

4

101

135

Investments

5

10,357

11,927

10,458

12,062

CURRENT ASSETS

Stocks

6

110,075

1,128,570

Debtors

7

977,296

853,736

Cash at bank and in hand

344,685

15,087

1,432,056

1,997,393

CREDITORS

Amounts falling due within one year

8

(238,045

)

(1,314,902

)

NET CURRENT ASSETS

1,194,011

682,491

TOTAL ASSETS LESS CURRENT LIABILITIES

1,204,469

694,553

PROVISIONS FOR LIABILITIES

(18

)

(24

)

NET ASSETS

1,204,451

694,529

CAPITAL AND RESERVES

Called up share capital

6,240

6,240

Capital redemption reserve

1,260

1,260

Retained earnings

1,196,951

687,029

SHAREHOLDERS' FUNDS

1,204,451

694,529

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved for issue by the director on 27 June 2019 and were signed by:

D R J Herbert - Director

1.	STATUTORY INFORMATION

D. Herbert (Builders) Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the

nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There have been no material departures from Financial Reporting Standard 102 1A.

Turnover

Turnover represents amounts invoiced during the year for building and contracting services, exclusive of value

added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost and 25% on reducing balance

Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items. Cost includes direct materials and labour costs, after deductions

of deposits received.

Long term work in progress is stated at total costs incurred, net of amounts transferred to the profit and loss

account in respect of work carried out to date, less foreseeable losses and applicable payments on account.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account,

except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

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.

Investments

Fixed asset investments are stated at cost less a provision for permanent diminution in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 October 2017

and 30 September 2018

4,833

DEPRECIATION

At 1 October 2017

4,698

Charge for year

34

At 30 September 2018

4,732

NET BOOK VALUE

At 30 September 2018

101

At 30 September 2017

135

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2018

2017

£

£

Cost of freehold reversions

11,927

13,510

Disposals during the year

(1,570

)

(1,583

)

10,357

11,927

6.

STOCKS

2018

2017

£

£

Work-in-progress

84,999

1,040,629

Stock of land

25,076

87,941

110,075

1,128,570

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

11,442

571,492

Amounts owed by group undertakings

809,209

119,059

Other debtors

153,000

153,000

VAT

3,039

4,115

Prepayments

606

6,070

977,296

853,736

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

36,236

Other loans

-

1,100,000

Trade creditors

5,626

2,359

Amounts owed to group undertakings

-

5,000

Corporation tax

140,611

26,974

Sarjan Limited

68,153

39,521

Company credit card

-

187

Directors' loan accounts

19,005

70,744

Accruals and deferred income

4,650

33,881

238,045

1,314,902

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

-

36,236

Other loans

-

1,100,000

-

1,136,236

10.	CONTINGENT LIABILITIES

In the normal course of business there are contingent liabilities in respect of undertakings given in conjunction

with the National House Builders Registration Council to purchasers of houses constructed by the company.

There are further contingent liabilities under agreements entered into by the company with public authorities for

the making up of roads and the provisions of water supply at sites previously developed by the company.

As at 30 September 2018 and 30 September 2017, there were no claims arising under the above agreements.