REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2021 |
FOR |
CONTEXTUAL CONSTRUCTION LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2021 |
FOR |
CONTEXTUAL CONSTRUCTION LIMITED |
CONTEXTUAL CONSTRUCTION LIMITED (REGISTERED NUMBER: 10491916) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2021 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 3 |
CONTEXTUAL CONSTRUCTION LIMITED (REGISTERED NUMBER: 10491916) |
STATEMENT OF FINANCIAL POSITION |
30 NOVEMBER 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Non distributable reserves |
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. |
CONTEXTUAL CONSTRUCTION LIMITED (REGISTERED NUMBER: 10491916) |
STATEMENT OF FINANCIAL POSITION - continued |
30 NOVEMBER 2021 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
CONTEXTUAL CONSTRUCTION LIMITED (REGISTERED NUMBER: 10491916) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2021 |
1. | STATUTORY INFORMATION |
Contextual Construction Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In the preparation of the financial statements, it is necessary for the management of the company to make estimates and certain presumptions that can affect the valuation of the assets and liabilities and the outcome of the income statement. The actual outcome may differ from these estimates and presumptions. The most significant estimates made in these accounts relates to the valuation of investment properties. Valuations are made on an open market value basis by reference to market evidence of transaction prices for similar properties. |
Investment property |
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost which includes the purchase cost and any directly attributable expenditure. Subsequent to initial recognition investment properties are held at fair value. Any gains or losses arising from changes in the fair value are recognised in profit or loss in the period that they arise. No depreciation is provided in respect of investment properties applying the fair value model. |
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 statement of financial position date. |
CONTEXTUAL CONSTRUCTION LIMITED (REGISTERED NUMBER: 10491916) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2021 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Going concern |
The financial statements have been prepared on the going concern basis which the Directors believe |
to be appropriate. The company continues with the support of its directors and shareholders. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2020 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2020 |
and 30 November 2021 |
NET BOOK VALUE |
At 30 November 2021 |
At 30 November 2020 |
The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 November 2021 by the Directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. |
Fair value at 30 November 2021 is represented by: |
£ |
Valuation in 2020 | 10,235 |
Cost | 86,765 |
97,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Prepayments |
CONTEXTUAL CONSTRUCTION LIMITED (REGISTERED NUMBER: 10491916) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2021 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
Directors' current accounts | 28,075 | 27,725 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans (see note 8) |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
8. | LOANS |
An analysis of the maturity of loans is given below: |
2021 | 2020 |
£ | £ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst | 64,960 | 64,960 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2021 | 2020 |
£ | £ |
Bank loans |
The loan is secured by way of first fixed charge as a legal mortgage against the investment property together with all buildings, fixtures and fixed plant and machinery. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
CONTEXTUAL CONSTRUCTION LIMITED (REGISTERED NUMBER: 10491916) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2021 |
11. | RELATED PARTY DISCLOSURES |
Amounts due (to)/from related parties at the balance sheet date: |
2021 | 2020 |
£ | £ |
D Barry (Director) | (13,751 | ) | (13,401 | ) |
D Pillay (Director) | (14,324 | ) | (14,324 | ) |
Total | (26,054 | ) | (25,705 | ) |