Registered number
10880955
FH Property Maintenance and Refurbishment Ltd
Unaudited Filleted Accounts
31 July 2022
FH Property Maintenance and Refurbishment Ltd
Registered number: 10880955
Balance Sheet
as at 31 July 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 1,664 2,219
Current assets
Stocks 200 200
Debtors 4 2,394 794
Cash at bank and in hand 25,681 23,201
28,275 24,195
Creditors: amounts falling due within one year 5 (16,992) (12,497)
Net current assets 11,283 11,698
Total assets less current liabilities 12,947 13,917
Provisions for liabilities (316) (422)
Net assets 12,631 13,495
Capital and reserves
Called up share capital 20 20
Profit and loss account 12,611 13,475
Shareholders' funds 12,631 13,495
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr W C Harper
Director
Approved by the board on 6 September 2022
FH Property Maintenance and Refurbishment Ltd
Notes to the Accounts
for the year ended 31 July 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2021 1,437 5,574 7,011
At 31 July 2022 1,437 5,574 7,011
Depreciation
At 1 August 2021 884 3,908 4,792
Charge for the year 138 417 555
At 31 July 2022 1,022 4,325 5,347
Net book value
At 31 July 2022 415 1,249 1,664
At 31 July 2021 553 1,666 2,219
4 Debtors 2022 2021
£ £
Trade debtors 1,600 -
Other debtors 794 794
2,394 794
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 81 -
Taxation and social security costs 4,313 4,135
Other creditors 12,598 8,362
16,992 12,497
6 Other information
FH Property Maintenance and Refurbishment Ltd is a private company limited by shares and incorporated in England. Its registered office is:
28 Barn Road
Shifnal
Shropshire
TF11 8EN
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