ACCOUNTS - Final Accounts preparation

DECIPHER CONSTRUCTION MANAGEMENT LIMITED - Company Information

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Registered number: 07573770

DECIPHER CONSTRUCTION MANAGEMENT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

DECIPHER CONSTRUCTION MANAGEMENT LIMITED

REGISTERED NUMBER: 07573770

BALANCE SHEET

AS AT 31 MARCH 2020

		2020		2019
Note		£		£

Fixed assets
Tangible assets	3		-		360
Current assets
Debtors: amounts falling due within one year	4	19,516		28,785
Cash at bank and in hand		18,058		8,610
		37,574		37,395
Creditors: amounts falling due within one year	5	(27,967)		(32,724)
Net current assets			9,607		4,671
Total assets less current liabilities			9,607		5,031

Net assets			9,607		5,031

Capital and reserves
Called up share capital	1,000	1,000
Profit and loss account	8,607	4,031
	9,607	5,031

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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:

N P Gibbons

Director

Date: 22 June 2020

The notes on pages 2 to 5 form part of these financial statements.

Page 1

DECIPHER CONSTRUCTION MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

1.Accounting policies

1.1

Basis of preparation of financial statements

Decipher Construction Management Limited (the company) is a limited liability company incorporated and domiciled in the United Kingdom. The address of its registered office is shown on the company information page.
The financial statements are prepared in Sterling (£) which is the functional currency of the company. The financial statements are for the year ended 31 March 2020 (2019: year ended 31 March 2019).

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

1.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

1.3

Taxation

The tax expense for the year comprises of current tax. Tax is recognised in the profit and loss account, 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 balance sheet date in the countries where the company operates and generates income.

Page 2

DECIPHER CONSTRUCTION MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

1.Accounting policies (continued)

1.4

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.

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

Depreciation is provided on the following basis:

Office equipment

25%

straight line

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 the profit and loss account.

1.5

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.

Employees

The average monthly number of employees, including directors, during the year was 3 (2019 - 3).

Page 3

DECIPHER CONSTRUCTION MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

3.	Tangible fixed assets

		Office equipment
		£
	Cost
	At 1 April 2019	1,753
	At 31 March 2020	1,753
	Depreciation
	At 1 April 2019	1,393
	Charge for the year	360
	At 31 March 2020	1,753
	Net book value
	At 31 March 2020	-
	At 31 March 2019	360

Debtors

					2020	2019
					£	£


Trade debtors	11,150	25,444
Other debtors	8,366	3,341
	19,516	28,785

Page 4

DECIPHER CONSTRUCTION MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

5.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Trade creditors	-	226
Amounts owed to associates	5,574	-
Corporation tax	1,158	236
Other taxation and social security	1,412	126
Other creditors	264	13,125
Accruals and deferred income	19,559	19,011
	27,967	32,724

6.	Controlling party

The company is controlled by the N P Gibbons by virtue of his majority shareholding.

Page 5