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Registration number: 03980425

Uphill Building Contractors Limited

Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Uphill Building Contractors Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Uphill Building Contractors Limited

Company Information

Director

P J Chidley

Registered office

34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

 

Uphill Building Contractors Limited

(Registration number: 03980425)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,584

4,270

Current assets

 

Stocks

5

600

600

Debtors

6

3,405

5,874

Cash at bank and in hand

 

27,231

21,808

 

31,236

28,282

Creditors: Amounts falling due within one year

7

(12,363)

(16,141)

Net current assets

 

18,873

12,141

Total assets less current liabilities

 

22,457

16,411

Provisions for liabilities

(681)

(811)

Net assets

 

21,776

15,600

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

21,676

15,500

Shareholders' funds

 

21,776

15,600

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Uphill Building Contractors Limited

(Registration number: 03980425)
Balance Sheet as at 31 January 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 October 2023
 

.........................................
P J Chidley
Director

 

Uphill Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF
United Kingdom

The principal place of business is:
198 Locking Road
Weston-super-Mare
Somerset
BS23 3LU
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is Pound Sterling (£).

 

Uphill Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on reducing balance

 

Uphill Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Fixtures and fittings

15% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment (included within furniture, fittings and equipment)

33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Uphill Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Uphill Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 February 2022

1,679

17,980

3,735

23,394

Additions

266

-

108

374

Disposals

(399)

-

-

(399)

At 31 January 2023

1,546

17,980

3,843

23,369

Depreciation

At 1 February 2022

1,562

14,780

2,782

19,124

Charge for the year

106

800

154

1,060

Eliminated on disposal

(399)

-

-

(399)

At 31 January 2023

1,269

15,580

2,936

19,785

Carrying amount

At 31 January 2023

277

2,400

907

3,584

At 31 January 2022

117

3,200

953

4,270

5

Stocks

2023
£

2022
£

Other inventories

600

600

 

Uphill Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

2,661

5,190

Prepayments

744

684

 

3,405

5,874

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

4,807

1,997

Taxation and social security

5,917

1,957

Accruals and deferred income

1,328

1,430

Other creditors

311

10,757

12,363

16,141

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100