REGISTERED NUMBER: |
EKINS BUILDERS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2018 |
REGISTERED NUMBER: |
EKINS BUILDERS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2018 |
EKINS BUILDERS LIMITED (REGISTERED NUMBER: 05265193) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
EKINS BUILDERS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2018 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
EKINS BUILDERS LIMITED (REGISTERED NUMBER: 05265193) |
BALANCE SHEET |
31 JULY 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
EKINS BUILDERS LIMITED (REGISTERED NUMBER: 05265193) |
BALANCE SHEET - continued |
31 JULY 2018 |
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 on its behalf by: |
EKINS BUILDERS LIMITED (REGISTERED NUMBER: 05265193) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2018 |
1. | STATUTORY INFORMATION |
Ekins Builders Limited is a |
company's registered number and registered office address can be found on the Company Information |
page. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention. |
The financial statements are presented in sterling (£) which is also the functional currency for the |
company. |
Going concern |
After reviewing the Company's forecasts and projections and taking into account the economic |
conditions and possible changes in trading performance, the directors have a reasonable expectation |
that the Company has adequate resources to continue in operational existence for the foreseeable |
future. The Company therefore continues to adopt the going concern basis in preparing its financial |
statements. |
Significant judgements and estimates |
The preparation of financial statements requires management to make judgements, estimates and |
assumptions about the carrying values of assets and liabilities that are not readily apparent from other |
sources. The estimates and underlying assumptions are based on historical experience and other |
factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to |
accounting estimates are recognised in the period in which the estimate is revised if the revision |
affects only that period, or in the period of the revision and future periods if the revision affects both |
current and future periods. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and |
value added taxes. Turnover includes revenue earned from the rendering of services and rental |
income. |
Intangible fixed assets |
Intangible assets are measured at cost less accumulated amortisation and any accumulated |
impairment losses. Amortisation is charged to write off the cost of the intangible assets less their |
residual values over their estimated useful lives on a straight line basis. |
Goodwill has arisen as the result of the acquisition of Ekins & Co Limited, including the assets, |
liabilities and trade, on 1 May 2011. The goodwill is being amortised evenly over it's estimated useful |
life of 20 years. |
If there are indicators of a significant movement in the useful life or residual value of the asset, |
amortisation is revised prospectively to reflect this. |
EKINS BUILDERS LIMITED (REGISTERED NUMBER: 05265193) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2018 |
3. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Fixtures and fittings and motor vehicles are measured at cost less accumulated depreciation and |
accumulated impairment losses. |
At each reporting date, fixtures and fittings and motor vehicles are reviewed to determine whether |
there is any indication that those assets have suffered an impairment loss. If there is an indication of |
possible impairment, the recoverable amount of any affected asset is estimated and compared with its |
carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its |
estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. |
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the |
revised estimate of its recoverable amount, but not in excess of the amount that would have been |
determined had no impairment loss been recognised for the asset in prior years. A reversal of |
impairment is recognised immediately in profit or loss. |
Depreciation has been computed to write off the cost of the plant and machinery, motor vehicles, |
fixtures and fittings and improvements to property over their useful expected lives using the following |
rates: |
Fixtures and fittings - 20% on reducing balance |
Motor vehicles - 25% on reducing balance |
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 income tax payable in respect of the taxable profit for the |
current or past reporting periods using the tax rates 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. |
Pension costs and other post-retirement benefits |
The company paid contributions to directors' personal pension schemes. Contributions payable to the |
schemes are charged to the profit and loss account in the period to which they relate. |
EKINS BUILDERS LIMITED (REGISTERED NUMBER: 05265193) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2018 |
3. | ACCOUNTING POLICIES - continued |
Trade and other debtors |
Trade and other debtors are measured at transaction price less any impairment unless the |
arrangement constitutes a financing transaction in which case the transaction is measured at the |
present value of the future receipts discounted at the prevailing market rate of interest . Loans are |
initially measured at fair value and are subsequently measured at amortised cost using the effective |
interest method less any impairment. |
Trade and other creditors |
Trade and other creditors are measured at their transaction price unless the arrangement constitutes a |
financing transaction in which case the transaction is measured at present value of future payments |
discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair |
value net of their transaction costs. They are subsequently measured at amortised cost using the |
effective interest method. |
Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 August 2017 |
and 31 July 2018 |
AMORTISATION |
At 1 August 2017 |
Charge for year |
At 31 July 2018 |
NET BOOK VALUE |
At 31 July 2018 |
At 31 July 2017 |
EKINS BUILDERS LIMITED (REGISTERED NUMBER: 05265193) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2018 |
6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 August 2017 |
Additions |
Disposals | ( |
) |
At 31 July 2018 |
DEPRECIATION |
At 1 August 2017 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 July 2018 |
NET BOOK VALUE |
At 31 July 2018 |
At 31 July 2017 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
Amounts recoverable on |
contracts |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Other creditors |
EKINS BUILDERS LIMITED (REGISTERED NUMBER: 05265193) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2018 |
10. | RELATED PARTY DISCLOSURES |
During the year rent of £12,000 (2017 - £12,000) was charged by Ekins of Hertford Limited, a company |
of which F J Norman and M Norman are directors and shareholders. |