Dove Construction Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 02799348 (England and Wales)

Financial Statements

For The Year Ended 31 August 2017

for

Dove Construction Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Mitchell

T C Young

M S Tyre

A Holmes

A Davies

REGISTERED OFFICE:

Gloucester House

29 Brunswick Square

Gloucester

Gloucestershire

GL1 1UN

REGISTERED NUMBER:

02799348 (England and Wales)

AUDITORS:

Kingscott Dix Limited

Chartered Accountants

and Statutory Auditor

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

FIXED ASSETS

Tangible assets

4

17,254

13,681

CURRENT ASSETS

Debtors

5

1,533,575

1,062,956

Cash at bank and in hand

651,476

574,077

2,185,051

1,637,033

CREDITORS

Amounts falling due within one year

6

1,424,732

856,028

NET CURRENT ASSETS

760,319

781,005

TOTAL ASSETS LESS CURRENT LIABILITIES

777,573

794,686

CAPITAL AND RESERVES

Called up share capital

8

6,100

6,100

Retained earnings

771,473

788,586

SHAREHOLDERS' FUNDS

777,573

794,686

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31 May 2018 and were signed on its behalf by:

A Davies - Director

1.	STATUTORY INFORMATION

Dove 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods

and services provided in the normal course of business, and is shown net of VAT and other

sales related taxes. The fair value of consideration takes into account trade discounts,

settlement discounts and rebates.

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are

recognised by reference to the stage of completion of the contract activity at the balance sheet date.

This is normally measured by the proportion that contract costs incurred for work performed to date

bear to the estimated total contract costs, except where this would not be representative of the stage

of completion. Variations in contract work, claims and incentive payments are included to the extent

that the amount can be measured reliably and its receipt is considered probable.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is

recognised to the extent of contract costs incurred where it is probable they will be recoverable.

Contract costs are recognised as expenses in the period in which they are incurred.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is

recognised as an expense immediately.

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

-

20% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

33% on reducing balance

Computer equipment

-

33% on reducing balance

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments'

and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial

instruments.

Financial instruments are recognised in the company's statement of financial position when the

company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial

statements, when there is a legally enforceable right to set off the recognised amounts and

there is an intention to settle on a net basis or to realise the asset and settle the liability

simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances,

are initially measured at transaction price including transaction costs and are subsequently

carried at amortised cost using the effective interest method unless the arrangement constitutes

a financing transaction, where the transaction is measured at the present value of the future

receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for

indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or

more events that occurred after the initial recognition of the financial asset, the estimated

future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the

asset expire, or when it transfers the financial asset and substantially all the risks and rewards

of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow

group companies and preference shares that are classified as debt, are initially recognised at

transaction price unless the arrangement constitutes a financing transaction, where the debt

instrument is measured at the present value of the future receipts discounted at a market rate

of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate

method.

Trade payables are obligations to pay for goods or services that have been acquired in the

ordinary course of business from suppliers. Accounts payable are classified as current liabilities

if payment is due within one year or less. If not, they are presented as non-current liabilities.

Trade payables are recognised initially at transaction price and subsequently measured at

amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's obligations are

discharged, cancelled, or they expire.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2016 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 September 2016

34,484

8,196

35,049

42,630

120,359

Additions

1,043

973

-

9,294

11,310

At 31 August 2017

35,527

9,169

35,049

51,924

131,669

DEPRECIATION

At 1 September 2016

27,845

7,379

31,170

40,284

106,678

Charge for year

2,371

509

2,217

2,640

7,737

At 31 August 2017

30,216

7,888

33,387

42,924

114,415

NET BOOK VALUE

At 31 August 2017

5,311

1,281

1,662

9,000

17,254

At 31 August 2016

6,639

817

3,879

2,346

13,681

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade debtors

181,101

664,516

Amounts owed by group undertakings

390,000

-

Other debtors

957,131

392,067

Prepayments and accrued income

5,343

6,373

1,533,575

1,062,956

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade creditors

668,216

349,375

Amounts owed to group undertakings

54,646

-

Tax

10,919

98,871

Social security and other taxes

19,721

43,446

Other creditors

671,230

364,336

1,424,732

856,028

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.8.17

31.8.16

£

£

Between one and five years

13,515

18,023

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.17

31.8.16

value:

£

£

3,050

A Shares

1

3,050

3,050

1,525

B Shares

1

1,525

1,525

1,525

C shares

1

1,525

1,525

6,100

6,100

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter Morgan (Senior Statutory Auditor)

for and on behalf of Kingscott Dix Limited

10.	CONSOLIDATED GROUP ACCOUNTS

The company's ultimate parent company McGurk Group Limited produces consolidated accounts.

Information regarding the consolidated accounts of McGurk Group Limited can be obtained from its

registered office.