Company Registration No. 04706568 (England and Wales)
Durston Construction Ltd
Unaudited accounts
for the year ended 31 March 2018
Durston Construction Ltd
Unaudited accounts
Contents
Durston Construction Ltd
Statement of financial position
as at 31 March 2018
Tangible assets
131,030
91,694
Inventories
119,326
63,658
Cash at bank and in hand
149,260
180,071
Creditors: amounts falling due within one year
(135,021)
(126,660)
Net current assets
217,280
188,898
Total assets less current liabilities
348,310
280,592
Creditors: amounts falling due after more than one year
(5,584)
(11,958)
Net assets
342,726
268,634
Called up share capital
102
102
Profit and loss account
342,624
268,532
Shareholders' funds
342,726
268,634
For the year ending 31 March 2018 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.
Approved by the Board on 27 September 2018.
M J Durston
Director
Company Registration No. 04706568
Durston Construction Ltd
Notes to the Accounts
for the year ended 31 March 2018
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 2018
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.
4
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 2017
91,843
101,220
8,803
201,866
Additions
66,914
-
641
67,555
At 31 March 2018
158,757
101,220
9,444
269,421
At 1 April 2017
50,436
55,907
3,829
110,172
Charge for the year
14,394
11,328
2,497
28,219
At 31 March 2018
64,830
67,235
6,326
138,391
At 31 March 2018
93,927
33,985
3,118
131,030
At 31 March 2017
41,407
45,313
4,974
91,694
Work in progress
118,326
63,658
Durston Construction Ltd
Notes to the Accounts
for the year ended 31 March 2018
Trade debtors
57,660
66,916
Accrued income and prepayments
6,055
4,913
Amounts due after more than one year
17,000
-
8
Creditors: amounts falling due within one year
2018
2017
Obligations under finance leases and hire purchase contracts
6,375
6,037
Trade creditors
41,702
31,094
Taxes and social security
30,469
52,030
Other creditors
8,498
18,430
Loans from directors
33,011
19,069
9
Creditors: amounts falling due after more than one year
2018
2017
Obligations under finance leases and hire purchase contracts
5,584
11,958
10
Average number of employees
During the year the average number of employees was 6 (2017: 6).
