Company Registration No. 05460233 (England and Wales)
Keston Construction Limited
Unaudited accounts
for the year ended 31 December 2021
Keston Construction Limited
Unaudited accounts
Contents
Keston Construction Limited
Company Information
for the year ended 31 December 2021
Directors
SK Browning
R Woodmonger
Company Number
05460233 (England and Wales)
Registered Office
15 The Dale
Keston
BR2 6HW
Accountants
EJ Butler FCA, Chartered Accountant
42 Manor Road
Beckenham
Kent
BR3 5LE
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Keston Construction Limited for the year ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Keston Construction Limited for the year ended
31 December 2021 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Keston Construction Limited, as a body, in accordance with the terms of our engagement letter dated 15 January 2008. Our work has been undertaken solely to prepare for your approval the accounts of Keston Construction Limited and state those matters that we have agreed to state to the Board of Directors of Keston Construction Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Keston Construction Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Keston Construction Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Keston Construction Limited. You consider that Keston Construction Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Keston Construction Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
EJ Butler FCA, Chartered Accountant
Chartered Accountants
42 Manor Road
Beckenham
Kent
BR3 5LE
1 April 2022
Keston Construction Limited
Statement of financial position
as at 31 December 2021
Tangible assets
10,706
15,388
Cash at bank and in hand
4,173
28,631
Creditors: amounts falling due within one year
(121,375)
(82,565)
Net current liabilities
(2,156)
(9,753)
Total assets less current liabilities
8,550
5,635
Creditors: amounts falling due after more than one year
(6,272)
(9,552)
Net assets/(liabilities)
2,278
(3,917)
Called up share capital
2
2
Profit and loss account
2,276
(3,919)
Shareholders' funds
2,278
(3,917)
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2022 and were signed on its behalf by
SK Browning
Director
Company Registration No. 05460233
Keston Construction Limited
Notes to the Accounts
for the year ended 31 December 2021
Keston Construction Limited is a private company, limited by shares, registered in England and Wales, registration number 05460233. The registered office is 15 The Dale, Keston, BR2 6HW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors have reviewed future liabilities and available cash and conclude they will be able to pay liabilities as they fall due.
The company suffered a reduction in activity as a result of the pandemic. No staff were furloughed. The directors anticipate that activity in 2021 will improve.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Keston Construction Limited
Notes to the Accounts
for the year ended 31 December 2021
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2021
63,511
205
7,785
71,501
At 31 December 2021
63,511
205
8,014
71,730
At 1 January 2021
50,768
82
5,263
56,113
Charge for the year
4,249
31
631
4,911
At 31 December 2021
55,017
113
5,894
61,024
At 31 December 2021
8,494
92
2,120
10,706
At 31 December 2020
12,743
123
2,522
15,388
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
8,494
12,743
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
115,044
26,042
Accrued income and prepayments
-
18,137
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
50,380
51,548
Obligations under finance leases and hire purchase contracts
3,280
3,280
Trade creditors
26,338
18,362
Taxes and social security
26,766
22,331
Loans from directors
2,400
(23,158)
7
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
6,272
9,552
Keston Construction Limited
Notes to the Accounts
for the year ended 31 December 2021
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Overpaid dividend
579
-
579
-
Overpaid Dividend
579
-
579
-
The directors incorrectly calculated the final dividend and overpaid a total of £1,158. This was repaid by 1 May 2021. In December 2020 the company loaned £28,000 to one of the directors. £6,000 was repaid before the year end, the balance was repaid by 28 January 2021.
10
Transactions with related parties
The company was contracted to work for one of the directors. At the year end the balance included within trade debtors was £94,369.07. This was paid in full by 31 March 2022, in accordance with the company's normal terms of business.
11
Average number of employees
During the year the average number of employees was 2 (2020: 2).