Company Registration No. 04706568 (England and Wales)
Durston Construction Ltd
Unaudited accounts
for the year ended 31 March 2022
Durston Construction Ltd
Unaudited accounts
Contents
Durston Construction Ltd
Statement of financial position
as at 31 March 2022
Tangible assets
262,450
255,895
Cash at bank and in hand
195,861
304,558
Creditors: amounts falling due within one year
(118,954)
(125,394)
Net current assets
255,768
389,061
Total assets less current liabilities
518,218
644,956
Creditors: amounts falling due after more than one year
(33,975)
(42,500)
Provisions for liabilities
Deferred tax
(49,865)
(48,620)
Net assets
434,378
553,836
Called up share capital
102
102
Profit and loss account
434,276
553,734
Shareholders' funds
434,378
553,836
For the year ending 31 March 2022 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 19 August 2022 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 2022
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.
2
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 2022
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2021
291,725
132,567
-
13,502
437,794
Additions
47,062
-
11,432
559
59,053
Disposals
-
-
-
(5,832)
(5,832)
At 31 March 2022
338,787
132,567
11,432
8,229
491,015
At 1 April 2021
118,678
54,889
-
8,332
181,899
Charge for the year
34,242
14,552
1,143
2,561
52,498
On disposals
-
-
-
(5,832)
(5,832)
At 31 March 2022
152,920
69,441
1,143
5,061
228,565
At 31 March 2022
185,867
63,126
10,289
3,168
262,450
At 31 March 2021
173,047
77,678
-
5,170
255,895
Durston Construction Ltd
Notes to the Accounts
for the year ended 31 March 2022
6
Debtors: amounts falling due within one year
2022
2021
Trade debtors
48,537
168,986
Accrued income and prepayments
6,087
12,151
Other debtors
23,572
11,500
Amounts due after more than one year
-
8,500
7
Creditors: amounts falling due within one year
2022
2021
Trade creditors
27,090
37,361
Taxes and social security
5,784
37,179
Other creditors
24,056
25,542
Loans from directors
37,605
9,422
The bank loan is secured against the company's assets.
8
Creditors: amounts falling due after more than one year
2022
2021
Aggregate of amounts that fall due for payment after five years
-
2,500
The bank loan is secured against the company's assets.
9
Average number of employees
During the year the average number of employees was 8 (2021: 8).