Deane Construction Limited - Limited company accounts 18.2

REGISTERED NUMBER: 04941217 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2017

FOR

DEANE CONSTRUCTION LIMITED

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

R C Deane

SECRETARY:

Mrs J Deane

REGISTERED OFFICE:

The Lane Farm

Newbiggin On Lune

Kirkby Stephen

Cumbria

CA17 4LY

REGISTERED NUMBER:

04941217 (England and Wales)

ACCOUNTANT:

Melville Morris

Chartered Accountant

3rd Floor, Trident House

31-33 Dale Street

Liverpool

L2 2HF

The director presents his report with the financial statements of the company for the year ended 31 October 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of general construction and joinery install

DIRECTOR

R C Deane held office during the whole of the period from 1 November 2016 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

R C Deane - Director

24 July 2018

TURNOVER

12,208

69,714

Cost of sales

983

56,917

GROSS PROFIT

11,225

12,797

Administrative expenses

64,842

30,760

OPERATING LOSS

4

(53,617

)

(17,963

)

Interest payable and similar expenses

1,215

1,295

LOSS BEFORE TAXATION

(54,832

)

(19,258

)

Tax on loss

-

(3,795

)

LOSS FOR THE FINANCIAL YEAR

(54,832

)

(15,463

)

FIXED ASSETS

Tangible assets

5

4,132

116,352

CURRENT ASSETS

Stocks

352

1,355

Debtors

6

33,158

20,311

Cash at bank

31,607

5,216

65,117

26,882

CREDITORS

Amounts falling due within one year

7

3,414

6,537

NET CURRENT ASSETS

61,703

20,345

TOTAL ASSETS LESS CURRENT
LIABILITIES

65,835

136,697

CREDITORS

Amounts falling due after more than one
year

8

40,797

42,827

NET ASSETS

25,038

93,870

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

25,036

93,868

25,038

93,870

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 24 July 2018 and were signed by:

R C Deane - Director

1.	STATUTORY INFORMATION

Deane 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

not provided

Plant and machinery etc

-

25% on reducing balance and 10% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	OPERATING LOSS

The operating loss is stated after charging:

31.10.17

31.10.16

£

Depreciation - owned assets

810

1,017

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 November 2016

111,410

52,990

164,400

Disposals

(111,410

)

-

(111,410

)

At 31 October 2017

-

52,990

DEPRECIATION

At 1 November 2016

-

48,048

Charge for year

-

810

At 31 October 2017

-

48,858

NET BOOK VALUE

At 31 October 2017

-

4,132

At 31 October 2016

111,410

4,942

116,352

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

Trade debtors

33,158

20,311

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

Trade creditors

1,575

2,579

Taxation and social security

(338

)

(3,920

)

Other creditors

2,177

7,878

3,414

6,537

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.17

31.10.16

£

Bank loans

40,797

42,827