REGISTERED NUMBER: 05402628 (England and Wales)

Hutcheon Construction Limited

Unaudited Financial Statements

for the Year Ended 28 February 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K L Hutcheon

REGISTERED OFFICE:

33 Chester Road West

Queensferry

Deeside

Flintshire

CH5 1SA

REGISTERED NUMBER:

05402628 (England and Wales)

ACCOUNTANTS:

Henry R. Davis & Co. Limited

Chartered Accountants

33 Chester Road West

Queensferry

Deeside

Flintshire

CH5 1SA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

133,525

90,964

133,525

90,964

CURRENT ASSETS

Stocks

40,641

218,598

Debtors

6

149,362

68,349

Cash at bank

1,463,375

1,202,213

1,653,378

1,489,160

CREDITORS

Amounts falling due within one year

7

191,942

353,592

NET CURRENT ASSETS

1,461,436

1,135,568

TOTAL ASSETS LESS CURRENT LIABILITIES

1,594,961

1,226,532

PROVISIONS FOR LIABILITIES

25,370

17,283

NET ASSETS

1,569,591

1,209,249

CAPITAL AND RESERVES

Called up share capital

20

20

Retained earnings

1,569,571

1,209,229

SHAREHOLDERS' FUNDS

1,569,591

1,209,249

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 3 October 2023 and were signed by:

K L Hutcheon - Director

1.	STATUTORY INFORMATION

Hutcheon 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2022

and 28 February 2023

200,000

AMORTISATION

At 1 March 2022

and 28 February 2023

200,000

NET BOOK VALUE

At 28 February 2023

-

At 28 February 2022

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 March 2022

1,289

308,260

309,549

Additions

-

76,966

76,966

At 28 February 2023

1,289

385,226

386,515

DEPRECIATION

At 1 March 2022

-

218,585

218,585

Charge for year

-

34,405

34,405

At 28 February 2023

-

252,990

252,990

NET BOOK VALUE

At 28 February 2023

1,289

132,236

133,525

At 28 February 2022

1,289

89,675

90,964

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.23

28.2.22

£

£

Trade debtors

149,362

68,349

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.23

28.2.22

£

£

Trade creditors

104,548

164,956

Taxation and social security

81,688

162,480

Other creditors

5,706

26,156

191,942

353,592