Davlan Construction Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01601864 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

DAVLAN CONSTRUCTION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K C Cook

N M Jenkins

SECRETARY:

K C Cook

REGISTERED OFFICE:

Dewstow Street

Newport

NP19 0FP

REGISTERED NUMBER:

01601864 (England and Wales)

ACCOUNTANTS:

Graham Paul Chartered Accountants

5 Ash Tree Court

Woodsy Close

Cardiff Gate Business Park

Cardiff

CF23 8RW

FIXED ASSETS

Tangible assets

4

89,706

49,867

CURRENT ASSETS

Stocks

33,500

33,500

Debtors

5

110,991

149,977

Cash at bank and in hand

97,392

225,426

241,883

408,903

CREDITORS

Amounts falling due within one year

6

68,195

206,884

NET CURRENT ASSETS

173,688

202,019

TOTAL ASSETS LESS CURRENT LIABILITIES

263,394

251,886

CREDITORS

Amounts falling due after more than one year

7

(24,400

)

(15,087

)

PROVISIONS FOR LIABILITIES

(16,564

)

(8,963

)

NET ASSETS

222,430

227,836

CAPITAL AND RESERVES

Called up share capital

8,100

8,100

Capital redemption reserve

1,900

1,900

Retained earnings

212,430

217,836

SHAREHOLDERS' FUNDS

222,430

227,836

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 May 2021 and were signed on its behalf by:

K C Cook - Director

1.	STATUTORY INFORMATION

Davlan Construction 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

The coronavirus (COVID-19) pandemic continues to influence virtually all aspects of society and business and as a result, is expected to have an ongoing impact on the company going forward. However, with continued, albeit lower than ordinarily anticipated turnover levels, combined with the ongoing support of the company's directors and UK government, the company should be able to continue to trade for the foreseeable future. Accordingly, the accounts are prepared on the Going Concern basis. However, as the length and potential final impact of the pandemic remains unknown, uncertain and beyond the company's control, there is a material uncertainty relating to the company's ability to continue as a Going Concern the longer this situation continues.

Turnover and income recognition

Turnover is measured at the fair value of the consideration received or receivable of services provided (net of discounts, rebates and value added tax). Income is recognised when the services have been provided and the right to consideration earned.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

20% on cost

Fixtures, fittings and equipment

-

25% on reducing balance and 20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The company pays into the director's and certain employees' personal pensions as well as the company's workplace pension scheme. Contributions are charged to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2020 - 29 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Short

and

Motor

leasehold

equipment

vehicles

Totals

£

£

£

£

COST

At 1 April 2020

11,000

62,870

90,735

164,605

Additions

-

738

60,652

61,390

Disposals

-

-

(2,000

)

(2,000

)

At 31 March 2021

11,000

63,608

149,387

223,995

DEPRECIATION

At 1 April 2020

11,000

59,075

44,663

114,738

Charge for year

-

1,263

20,288

21,551

Eliminated on disposal

-

-

(2,000

)

(2,000

)

At 31 March 2021

11,000

60,338

62,951

134,289

NET BOOK VALUE

At 31 March 2021

-

3,270

86,436

89,706

At 31 March 2020

-

3,795

46,072

49,867

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2020

43,235

Additions

60,652

At 31 March 2021

103,887

DEPRECIATION

At 1 April 2020

3,600

Charge for year

13,851

At 31 March 2021

17,451

NET BOOK VALUE

At 31 March 2021

86,436

At 31 March 2020

39,635

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

57,671

59,416

Other debtors

53,320

90,561

110,991

149,977

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans

6,459

15,500

Hire purchase contracts

17,930

14,944

Trade creditors

17,123

74,731

Taxation and social security

20,170

87,052

Other creditors

6,513

14,657

68,195

206,884

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

-

6,459

Hire purchase contracts

24,400

8,628

24,400

15,087

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

6,459

21,959

Bank borrowings are secured by a fixed and floating charge over all company assets.

9.	FINANCIAL COMMITMENTS

The company had total commitments at the balance sheet date of £46,053 (2020 - £64,211).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020:

2021

2020

£

£

K C Cook

Balance outstanding at start of year

-

-

Amounts advanced

360

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

360

-

The above loan is interest free.

11.	RELATED PARTY DISCLOSURES

During the current and previous years, the company had an interest free loan from the directors. The amounts outstanding and due to the directors at the year end was £nil (2020 - £325).