Registered number
06156829
Symes Construction (Bristol) Limited
Filleted Accounts
31 March 2023
Symes Construction (Bristol) Limited
Registered number: 06156829
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - (3,300)
Tangible assets 4 112,588 70,568
112,588 67,268
Current assets
Stocks 9,500 9,500
Debtors 5 13,345 21,095
Cash at bank and in hand 32,654 12,257
55,499 42,852
Creditors: amounts falling due within one year 6 (54,875) (52,878)
Net current assets/(liabilities) 624 (10,026)
Total assets less current liabilities 113,212 57,242
Creditors: amounts falling due after more than one year 7 (92,790) (57,098)
Net assets 20,422 144
Capital and reserves
Called up share capital 101 101
Profit and loss account 20,321 43
Shareholders' funds 20,422 144
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 and delivered 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.
I Symes
Director
Approved by the board on 6 October 2023
Symes Construction (Bristol) Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice 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 (which is usually the invoice 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recog
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 30,000
At 31 March 2023 30,000
Amortisation
At 1 April 2022 33,300
On disposals (3,300)
At 31 March 2023 30,000
Net book value
At 31 March 2023 -
At 31 March 2022 (3,300)
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 1,336 12,828 200,693 214,857
Additions - - 82,452 82,452
Disposals - - (87,096) (87,096)
At 31 March 2023 1,336 12,828 196,049 210,213
Depreciation
At 1 April 2022 1,285 11,725 131,279 144,289
Charge for the year 51 276 23,511 23,838
On disposals - - (70,502) (70,502)
At 31 March 2023 1,336 12,001 84,288 97,625
Net book value
At 31 March 2023 - 827 111,761 112,588
At 31 March 2022 51 1,103 69,414 70,568
5 Debtors 2023 2022
£ £
Trade debtors 13,345 18,595
Other debtors - 2,500
13,345 21,095
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 9,712 15,880
Taxation and social security costs 12,913 20,204
Other creditors 32,250 16,794
54,875 52,878
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 92,790 57,098
8 Other information
Symes Construction (Bristol) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Beaufort House
113 Parson Street
Bristol
BS3 5QH
Symes Construction (Bristol) Limited 06156829 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 I Symes No description of principal activity 06156829 2021-04-01 2022-03-31 06156829 core:WithinOneYear 2022-03-31 06156829 core:AfterOneYear 2022-03-31 06156829 core:ShareCapital 2022-03-31 06156829 core:RetainedEarningsAccumulatedLosses 2022-03-31 06156829 2022-04-01 2023-03-31 06156829 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06156829 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 06156829 bus:Director40 2022-04-01 2023-03-31 06156829 1 2022-04-01 2023-03-31 06156829 2 2022-04-01 2023-03-31 06156829 core:Goodwill 2022-04-01 2023-03-31 06156829 core:LandBuildings 2022-04-01 2023-03-31 06156829 core:PlantMachinery 2022-04-01 2023-03-31 06156829 core:Vehicles 2022-04-01 2023-03-31 06156829 countries:England 2022-04-01 2023-03-31 06156829 bus:FRS102 2022-04-01 2023-03-31 06156829 bus:FullAccounts 2022-04-01 2023-03-31 06156829 2023-03-31 06156829 core:WithinOneYear 2023-03-31 06156829 core:AfterOneYear 2023-03-31 06156829 core:ShareCapital 2023-03-31 06156829 core:RetainedEarningsAccumulatedLosses 2023-03-31 06156829 core:Goodwill 2023-03-31 06156829 core:LandBuildings 2023-03-31 06156829 core:PlantMachinery 2023-03-31 06156829 core:Vehicles 2023-03-31 06156829 2022-03-31 06156829 core:Goodwill 2022-03-31 06156829 core:LandBuildings 2022-03-31 06156829 core:PlantMachinery 2022-03-31 06156829 core:Vehicles 2022-03-31 iso4217:GBP xbrli:pure