C A Watson General Builder / Contractor Ltd
Registered number: 09029451
Statement of Financial Position
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 26,965 36,030
Current assets
Debtors 4 1 -
Cash at bank and in hand 18,248 18,857
18,249 18,857
Creditors: amounts falling due within one year 5 (12,104) (13,741)
Net current assets 6,145 5,116
Total assets less current liabilities 33,110 41,146
Provisions for liabilities (5,123) (6,846)
Net assets 27,987 34,300
Capital and reserves
Called up share capital 1 1
Profit and loss account 27,986 34,299
Shareholder's funds 27,987 34,300
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 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.
C A Watson
Director
Approved by the board on 3 October 2023
C A Watson General Builder / Contractor Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
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 rendering of services. 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
Debtors
Short term debtors are measured at transaction 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. 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 and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 49,421
Disposals (582)
At 31 May 2023 48,839
Depreciation
At 1 June 2022 13,391
Charge for the year 8,989
On disposals (506)
At 31 May 2023 21,874
Net book value
At 31 May 2023 26,965
At 31 May 2022 36,030
4 Debtors 2023 2022
£ £
Other debtors 1 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 309 715
Accruals 1,260 1,200
Corporation tax 3,585 95
Other taxes and social security costs - 99
Other creditors 6,950 11,632
12,104 13,741
6 Other information
C A Watson General Builder / Contractor Ltd is a private company limited by shares and incorporated in England. Its registered office is:
44 Oakfield Road
Blackwater
Camberley
Surrey
GU17 9EA
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