Company registration number 04713229 (England and Wales)
Sandwells Construction Limited
Unaudited financial statements
financial statements
for the year ended 30 April 2023
PAGES FOR FILING WITH REGISTRAR
Sandwells Construction Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
Sandwells Construction Limited
Statement Of Financial Position
as at 30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1
1
Tangible assets
4
133,274
101,435
133,275
101,436
Current assets
Stocks
1,056
1,421
Debtors
5
228,839
220,070
Cash at bank and in hand
143,410
113,348
373,305
334,839
Creditors: amounts falling due within one year
6
(160,039)
(55,856)
Net current assets
213,266
278,983
Total assets less current liabilities
346,541
380,419
Provisions for liabilities
7
(25,322)
(19,273)
Net assets
321,219
361,146
Capital and reserves
Called up share capital
8
20,000
20,000
Profit and loss reserves
301,219
341,146
Total equity
321,219
361,146
Sandwells Construction Limited
Statement Of Financial Position (continued)
as at 30 April 2023
- 2 -
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 5 September 2023 and are signed on its behalf by:
D P Brook
Director
Company Registration No. 04713229
SANDWELLS CONSTRUCTION LIMITED
Sandwells Construction Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration received for goods provided in the normal course of business, and is shown net of VAT. Turnover is recognised on supply of goods.
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and machinery
10% straight line
Fixtures, fittings & equipment
10% straight line
Motor vehicles
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Stocks
Work in progress are valued at the lower of cost and net realisable value.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
SANDWELLS CONSTRUCTION LIMITED
Sandwells Construction Limited
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(continued)
- 4 -
Deferred tax
Deferred tax is recognised on all timing differences between the carrying amount of of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is then settled or the asset realised, based on the tax rates that have been enacted or substantively enacted by the end of the reporting period.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
40,000
Amortisation and impairment
At 1 May 2022 and 30 April 2023
39,999
Carrying amount
At 30 April 2023
1
At 30 April 2022
1
SANDWELLS CONSTRUCTION LIMITED
Sandwells Construction Limited
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2022
107,768
548
68,821
177,137
Additions
76,857
76,857
Disposals
(22,455)
(22,455)
At 30 April 2023
107,768
548
123,223
231,539
Depreciation and impairment
At 1 May 2022
39,769
183
35,750
75,702
Depreciation charged in the year
9,613
55
18,041
27,709
Eliminated in respect of disposals
(5,146)
(5,146)
At 30 April 2023
49,382
238
48,645
98,265
Carrying amount
At 30 April 2023
58,386
310
74,578
133,274
At 30 April 2022
67,999
365
33,071
101,435
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
94,347
55,207
Corporation tax recoverable
4,919
Other debtors
121,411
147,911
Prepayments and accrued income
13,081
12,033
228,839
220,070
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
86,620
16,243
Corporation tax
38,197
14,153
Other taxation and social security
30,595
23,460
Accruals and deferred income
4,627
2,000
160,039
55,856
SANDWELLS CONSTRUCTION LIMITED
Sandwells Construction Limited
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
25,322
19,273
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
20,000
20,000
20,000
20,000
9
Parent company
The company was controlled by Sandwells Properties Limited, a company registered in England and Wales, whose registered office is Spring House, 2 Black Horse Drive, Stainland, Halifax, West Yorkshire, HX4 9PH.
10
Company information
Sandwells Construction Limited is a private company limited by shares incorporated in England and Wales. The registered office is Spring House, 2 Black Horse Drive, Stainland, Halifax, West Yorkshire, HX4 9PH.