Don Valley Eng. Constr. Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03856995 (England and Wales)

Don Valley Engineering Construction

Limited

Financial Statements For The Year Ended 31 July 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L Ashurst

S Doleman

A Priestley

C Ashurst

REGISTERED OFFICE:

Sandall Stones Road

Kirk Sandall

Doncaster

South Yorkshire

DN3 1QR

REGISTERED NUMBER:

03856995 (England and Wales)

AUDITORS:

Allotts Business Services Ltd, Statutory Auditor

Chartered Accountants

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

BANKERS:

Barclays Bank plc

14 Commercial Street

Sheffield

South Yorkshire

S1 2AT

FIXED ASSETS

Tangible assets

4

64,570

51,916

CURRENT ASSETS

Debtors

5

1,223,479

1,046,135

Cash at bank

2,635

74,995

1,226,114

1,121,130

CREDITORS

Amounts falling due within one year

6

728,842

846,113

NET CURRENT ASSETS

497,272

275,017

TOTAL ASSETS LESS CURRENT LIABILITIES

561,842

326,933

CREDITORS

Amounts falling due after more than one year

7

(22,282

)

(1,050

)

PROVISIONS FOR LIABILITIES

(10,470

)

(5,030

)

NET ASSETS

529,090

320,853

CAPITAL AND RESERVES

Called up share capital

9

2,000

2,000

Retained earnings

527,090

318,853

SHAREHOLDERS' FUNDS

529,090

320,853

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2020 and were signed on its behalf by:

A Priestley - Director

1.	STATUTORY INFORMATION

Don Valley Engineering 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 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.

Turnover

Turnover is the total value of work completed in the year together with the value of incomplete contracts for the

supply and installation of goods.

In assessing the likely outcome of contracts, account is taken of overhead recovery and any expected costs to

complete the contract and for subsequent works necessary under the contract to cover warranty and reworking.

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

-

33.33% on cost

Motor vehicles

-

33.33% on reducing balance

Depreciation is charged following the month of acquisition.

Taxation

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

Retained Earnings, 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 operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Grants

Grants received in respect of revenue expenditure are credited to the profit and loss account in the year to which

they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2018 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 August 2018

12,233

144,624

156,857

Additions

-

54,577

54,577

Disposals

-

(39,029

)

(39,029

)

At 31 July 2019

12,233

160,172

172,405

DEPRECIATION

At 1 August 2018

9,713

95,228

104,941

Charge for year

1,641

31,319

32,960

Eliminated on disposal

-

(30,066

)

(30,066

)

At 31 July 2019

11,354

96,481

107,835

NET BOOK VALUE

At 31 July 2019

879

63,691

64,570

At 31 July 2018

2,520

49,396

51,916

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

as restated

£

£

Trade debtors

150,711

411,073

Amounts owed by group undertakings

809,178

310,852

Other debtors

-

83,914

Amounts recoverable on

contracts

261,211

239,058

Prepayments and accrued income

2,379

1,238

1,223,479

1,046,135

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

as restated

£

£

Hire purchase contracts

15,689

14,006

Trade creditors

244,810

475,873

Social security and other taxes

175,691

26,227

Other creditors

193,555

190,750

Payments on account

26,271

17,968

Accrued expenses

72,826

121,289

728,842

846,113

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

as restated

£

£

Hire purchase contracts

22,282

1,050

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

as restated

£

£

Hire purchase contracts

37,971

15,056

Hire purchase contracts are secured on the assets to which they relate.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

as restated

£

£

2,000

Ordinary

£1

2,000

2,000

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

The Report of the Auditors was unqualified.

Steven Pepper FCA (Senior Statutory Auditor)

for and on behalf of Allotts Business Services Ltd, Statutory Auditor

11.	CONTINGENT LIABILITIES

There is in place a cross guarantee and debenture between the company and its ultimate parent undertaking,

Don Valley Engineering Group Limited, its parent undertaking, Don Valley Engineering Holdings Limited and two

other subsidiaries of the parent undertaking, Don Valley Engineering Company Limited and Cleeve Materials

Handling Limited dated 27 March 2019.

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

13.	PARENT UNDERTAKING

The parent undertaking is Don Valley Engineering Holdings Limited, a private company, limited by shares,

registered in England and Wales. The registered office is; Sandall Stones Road, Kirk Sandall, Doncaster, DN3

1QR.

14.	ULTIMATE HOLDING COMPANY

The ultimate holding company is Don Valley Engineering Group Limited, a private company, limited by shares,

registered in England and Wales. The registered office is; Sandall Stones Road, Kirk Sandall, Doncaster, DN3

1QR.

15.

COVID-19

Since the start of 2020 the world has been suffering from the gradual impact caused by the Coronavirus, which

in March 2020 began to impact in the UK in a major way. The UK government introduced restrictions from 24

March on the population's movements to reduce the spread of the virus and the full impact of these restrictions

on the company and group's customers, suppliers and staff is not clear at the present time. The government's

forms of assistance will assist the company and group to continue until the restrictions are lifted and business

activity returns to normal.The Don Valley Engineering Group do work for businesses within the food sector and

we are requested to support them with our teams being considered critical workers. We will be able to continue

certain business whilst taking all possible steps to safeguard our work force. Discussions with the Group's

bankers and revised short term forecasts for the period anticipated to be affected by the virus and restrictions

has given the directors confidence that the company and group will have sufficient resources to continue trading

for the period of 12 months from the date of approval of these accounts. The directors acknowledge the impact

of the virus and the restrictions do create material uncertainties on the ability of the company and group to

continue trading for the foreseeable future and it could also impact upon the ability of its customers and suppliers

to be able to continue. Based upon the limited information available about the impact of the virus on the UK and

world economy in the future, the directors consider that it remains appropriate to prepare the accounts on a

going concern basis but it is acknowledged that this could change if the effects of the virus continue for a longer

period than currently forecast. It is assumed that the support available to businesses from the government will

continue for an extended period, if needed, given statements made by the Prime Minister and Chancellor in

March 2020 that the government would provide whatever support was needed.