IRIS Accounts Production v23.1.0.753 05311396 Board of Directors 1.10.21 30.9.22 30.9.22 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure053113962021-09-30053113962022-09-30053113962021-10-012022-09-30053113962020-09-30053113962020-10-012021-09-30053113962021-09-3005311396ns15:EnglandWales2021-10-012022-09-3005311396ns14:PoundSterling2021-10-012022-09-3005311396ns10:Director12021-10-012022-09-3005311396ns10:PrivateLimitedCompanyLtd2021-10-012022-09-3005311396ns10:SmallEntities2021-10-012022-09-3005311396ns10:AuditExempt-NoAccountantsReport2021-10-012022-09-3005311396ns10:SmallCompaniesRegimeForDirectorsReport2021-10-012022-09-3005311396ns10:SmallCompaniesRegimeForAccounts2021-10-012022-09-3005311396ns10:FullAccounts2021-10-012022-09-3005311396ns10:Director22021-10-012022-09-3005311396ns10:RegisteredOffice2021-10-012022-09-3005311396ns5:CurrentFinancialInstruments2022-09-3005311396ns5:CurrentFinancialInstruments2021-09-3005311396ns5:Non-currentFinancialInstruments2022-09-3005311396ns5:Non-currentFinancialInstruments2021-09-3005311396ns5:ShareCapital2022-09-3005311396ns5:ShareCapital2021-09-3005311396ns5:RetainedEarningsAccumulatedLosses2022-09-3005311396ns5:RetainedEarningsAccumulatedLosses2021-09-3005311396ns5:PlantMachinery2021-10-012022-09-3005311396ns5:MotorVehicles2021-10-012022-09-3005311396ns5:ComputerEquipment2021-10-012022-09-3005311396ns5:PlantMachinery2021-09-3005311396ns5:PlantMachinery2022-09-3005311396ns5:PlantMachinery2021-09-3005311396ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2021-09-3005311396ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2021-10-012022-09-3005311396ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-09-3005311396ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2021-09-3005311396ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-3005311396ns5:CurrentFinancialInstrumentsns5:WithinOneYear2021-09-30
REGISTERED NUMBER: 05311396 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 September 2022

for

Budge Construction Limited

Budge Construction Limited (Registered number: 05311396)






Contents of the Financial Statements
for the Year Ended 30 September 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Budge Construction Limited

Company Information
for the Year Ended 30 September 2022







DIRECTORS: I Budge
Mrs C Budge





REGISTERED OFFICE: 81 Bondgate
Darlington
County Durham
DL3 7JT





REGISTERED NUMBER: 05311396 (England and Wales)





ACCOUNTANTS: Inspire Chartered Accountants
6 Queens Court
Third Avenue
Team Valley
Gateshead
Tyne and Wear
NE11 0BU

Budge Construction Limited (Registered number: 05311396)

Balance Sheet
30 September 2022

30.9.22 30.9.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 69,061 63,281

CURRENT ASSETS
Debtors 6 621,756 639,030
Cash at bank 14,760 12,856
636,516 651,886
CREDITORS
Amounts falling due within one year 7 536,941 488,849
NET CURRENT ASSETS 99,575 163,037
TOTAL ASSETS LESS CURRENT
LIABILITIES

168,636

226,318

CREDITORS
Amounts falling due after more than one
year

8

(128,901

)

(189,155

)

PROVISIONS FOR LIABILITIES (13,122 ) (12,023 )
NET ASSETS 26,613 25,140

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 26,611 25,138
SHAREHOLDERS' FUNDS 26,613 25,140

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

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.

Budge Construction Limited (Registered number: 05311396)

Balance Sheet - continued
30 September 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 30 September 2023 and were signed on its behalf by:





I Budge - Director


Budge Construction Limited (Registered number: 05311396)

Notes to the Financial Statements
for the Year Ended 30 September 2022

1. STATUTORY INFORMATION

Budge Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

Budge Construction Limited (Registered number: 05311396)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2021 110,863
Additions 37,680
At 30 September 2022 148,543
DEPRECIATION
At 1 October 2021 47,582
Charge for year 31,900
At 30 September 2022 79,482
NET BOOK VALUE
At 30 September 2022 69,061
At 30 September 2021 63,281

Budge Construction Limited (Registered number: 05311396)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2021 86,250
Additions 28,900
At 30 September 2022 115,150
DEPRECIATION
At 1 October 2021 27,396
Charge for year 28,787
At 30 September 2022 56,183
NET BOOK VALUE
At 30 September 2022 58,967
At 30 September 2021 58,854

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.22 30.9.21
£    £   
Trade debtors - 40,000
Amounts due on contracts 485,301 488,487
Other debtors 136,455 110,543
621,756 639,030

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.22 30.9.21
£    £   
Bank loans and overdrafts 32,000 8,000
Hire purchase contracts 36,483 18,804
Trade creditors 430,508 323,570
Taxation and social security 31,375 131,406
Other creditors 6,575 7,069
536,941 488,849

Budge Construction Limited (Registered number: 05311396)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.22 30.9.21
£    £   
Bank loans 120,000 152,000
Hire purchase contracts 8,901 37,155
128,901 189,155

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 24,000