Company Registration No. 04706568 (England and Wales)
Durston Construction Ltd
Unaudited accounts
for the year ended 31 March 2020
Durston Construction Ltd
Unaudited accounts
Contents
Durston Construction Ltd
Statement of financial position
as at 31 March 2020
Tangible assets
225,998
166,127
Cash at bank and in hand
281,188
239,629
Creditors: amounts falling due within one year
(186,460)
(122,637)
Net current assets
298,711
225,961
Net assets
524,709
392,088
Called up share capital
102
102
Profit and loss account
524,607
391,986
Shareholders' funds
524,709
392,088
For the year ending 31 March 2020 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 June 2020 and were signed on its behalf by
M J Durston
Director
Company Registration No. 04706568
Durston Construction Ltd
Notes to the Accounts
for the year ended 31 March 2020
Durston Construction Ltd is a private company, limited by shares, registered in England and Wales, registration number 04706568. The registered office is Springleaze, Downhead, Shepton Mallet, Somerset, BA4 4LQ.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Motor vehicles
25% reducing balance
Computer equipment
33% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Durston Construction Ltd
Notes to the Accounts
for the year ended 31 March 2020
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2019
176,809
119,995
7,326
304,130
Additions
48,159
51,528
2,546
102,233
Disposals
(6,419)
(38,955)
(1,495)
(46,869)
At 31 March 2020
218,549
132,568
8,377
359,494
At 1 April 2019
71,119
60,330
6,554
138,003
Charge for the year
23,419
12,827
1,305
37,551
On disposals
(6,419)
(34,144)
(1,495)
(42,058)
At 31 March 2020
88,119
39,013
6,364
133,496
At 31 March 2020
130,430
93,555
2,013
225,998
At 31 March 2019
105,690
59,665
772
166,127
Finished goods
1,000
1,000
Durston Construction Ltd
Notes to the Accounts
for the year ended 31 March 2020
Trade debtors
181,737
80,436
Accrued income and prepayments
6,746
5,872
Other debtors
14,500
17,500
Amounts due after more than one year
11,500
14,500
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Creditors: amounts falling due within one year
2020
2019
Trade creditors
48,645
25,539
Taxes and social security
61,195
18,560
Other creditors
14,591
11,213
Loans from directors
33,496
42,438
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Average number of employees
During the year the average number of employees was 9 (2019: 7).
