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Registration number: 01007913

Nursted Builders Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Nursted Builders Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Nursted Builders Limited

Company Information

Director

Mr N J Marie

Registered office

8a Woolner Avenue
Petersfield
HAMPSHIRE
GU32 2AD

Accountants

Howard Smith & Co Limited
Chartered Accountants
First Floor
Bellamy House
Winton Road
Petersfield
Hampshire
GU32 3HA

 

Nursted Builders Limited

(Registration number: 01007913)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

106,572

106,414

Current assets

 

Stocks

5

4,140

1,500

Debtors

6

16,717

2,210

Cash at bank and in hand

 

13,410

22,733

 

34,267

26,443

Creditors: Amounts falling due within one year

7

(91,188)

(86,053)

Net current liabilities

 

(56,921)

(59,610)

Net assets

 

49,651

46,804

Capital and reserves

 

Called up share capital

8

600

600

Revaluation reserve

66,370

100,323

Other reserves

2,881

2,881

Retained earnings

(20,200)

(57,000)

Shareholders' funds

 

49,651

46,804

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 8 August 2022
 

.........................................
Mr N J Marie
Director

 

Nursted Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8a Woolner Avenue
Petersfield
HAMPSHIRE
GU32 2AD

These financial statements were authorised for issue by the director on 8 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Property is stated at valuation less subsequent accumulated depreciation and subsequent accumulated impairment losses. Other tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Property

Straight line basis to write off over 50 years from 2002

 

Nursted Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Plant and machinery

15% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment

15% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2021 - 2).

 

Nursted Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2021

112,500

29,997

34,498

176,995

Additions

-

-

5,500

5,500

Disposals

-

(24,544)

(26,498)

(51,042)

At 31 March 2022

112,500

5,453

13,500

131,453

Depreciation

At 1 April 2021

8,586

28,588

33,407

70,581

Charge for the year

3,189

162

1,642

4,993

Eliminated on disposal

-

(24,217)

(26,476)

(50,693)

At 31 March 2022

11,775

4,533

8,573

24,881

Carrying amount

At 31 March 2022

100,725

920

4,927

106,572

At 31 March 2021

103,914

1,409

1,091

106,414

Included within the net book value of land and buildings above is £100,725 (2021 - £103,914) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's Freehold Property was revalued on 21 March 2016 by an independent valuer. . The name and qualification of the independent valuer are Wadham & Isherwood Chartered Surveyors.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £8,381 (2021 - £8,661).

5

Stocks

2022
£

2021
£

Other inventories

4,140

1,500

6

Debtors

Current

2022
£

2021
£

Trade debtors

16,079

1,924

Prepayments

638

286

 

16,717

2,210

 

Nursted Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

7

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

940

3,789

Taxation and social security

10,698

3,789

Accruals and deferred income

2,100

1,024

Other creditors

77,450

77,451

91,188

86,053

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

600

600

600

600

         

9

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2022
£

2021
£

Remuneration

25,185

23,700