IRIS Accounts Production v23.2.0.158 01490114 Board of Directors 30.5.22 29.5.23 29.5.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure014901142022-05-29014901142023-05-29014901142022-05-302023-05-29014901142021-05-29014901142021-05-302022-05-29014901142022-05-2901490114ns16:EnglandWales2022-05-302023-05-2901490114ns15:PoundSterling2022-05-302023-05-2901490114ns11:Director12022-05-302023-05-2901490114ns11:PrivateLimitedCompanyLtd2022-05-302023-05-2901490114ns11:SmallEntities2022-05-302023-05-2901490114ns11:AuditExempt-NoAccountantsReport2022-05-302023-05-2901490114ns11:SmallCompaniesRegimeForDirectorsReport2022-05-302023-05-2901490114ns11:SmallCompaniesRegimeForAccounts2022-05-302023-05-2901490114ns11:FullAccounts2022-05-302023-05-2901490114ns11:Director22022-05-302023-05-2901490114ns11:RegisteredOffice2022-05-302023-05-2901490114ns6:CurrentFinancialInstruments2023-05-2901490114ns6:CurrentFinancialInstruments2022-05-2901490114ns6:ShareCapital2023-05-2901490114ns6:ShareCapital2022-05-2901490114ns6:SharePremium2023-05-2901490114ns6:SharePremium2022-05-2901490114ns6:FurtherSpecificReserve1ComponentTotalEquity2023-05-2901490114ns6:FurtherSpecificReserve1ComponentTotalEquity2022-05-2901490114ns6:RetainedEarningsAccumulatedLosses2023-05-2901490114ns6:RetainedEarningsAccumulatedLosses2022-05-2901490114ns6:PlantMachinery2022-05-2901490114ns6:MotorVehicles2022-05-2901490114ns6:PlantMachinery2022-05-302023-05-2901490114ns6:MotorVehicles2022-05-302023-05-2901490114ns6:PlantMachinery2023-05-2901490114ns6:MotorVehicles2023-05-2901490114ns6:PlantMachinery2022-05-2901490114ns6:MotorVehicles2022-05-2901490114ns6:WithinOneYearns6:CurrentFinancialInstruments2023-05-2901490114ns6:WithinOneYearns6:CurrentFinancialInstruments2022-05-2901490114ns6:CurrentFinancialInstruments2022-05-302023-05-2901490114ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2023-05-2901490114ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2022-05-2901490114ns6:WithinOneYear2023-05-2901490114ns6:WithinOneYear2022-05-29
REGISTERED NUMBER: 01490114 (England and Wales)










Unaudited Financial Statements

for the Year Ended 29 May 2023

for

Weighill Builders Limited

Weighill Builders Limited (Registered number: 01490114)






Contents of the Financial Statements
for the Year Ended 29 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Weighill Builders Limited

Company Information
for the Year Ended 29 May 2023







DIRECTORS: P S Iles
D I Limmer





REGISTERED OFFICE: 8 Addisons Close
Shirley
Croydon
Surrey
CR0 8DX





BUSINESS ADDRESS: Bourne Park Close
Kenley
Surrey
CR8 5BS





REGISTERED NUMBER: 01490114 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Weighill Builders Limited (Registered number: 01490114)

Balance Sheet
29 May 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,641 8,584
Investment property 5 15,000 15,000
17,641 23,584

CURRENT ASSETS
Stocks 12,000 10,000
Debtors 6 93,000 19,620
Cash at bank 149,984 187,462
254,984 217,082
CREDITORS
Amounts falling due within one year 7 (71,687 ) (34,778 )
NET CURRENT ASSETS 183,297 182,304
TOTAL ASSETS LESS CURRENT
LIABILITIES

200,938

205,888

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 9 79,968 79,968
Investment revaluation reserve 9 15,000 15,000
Retained earnings 9 105,870 110,820
200,938 205,888

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Weighill Builders Limited (Registered number: 01490114)

Balance Sheet - continued
29 May 2023


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2023 and were signed on its behalf by:





P S Iles - Director


Weighill Builders Limited (Registered number: 01490114)

Notes to the Financial Statements
for the Year Ended 29 May 2023

1. STATUTORY INFORMATION

Weighill Builders 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.

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


The principal activity of the company continued to be that of general construction of buildings and civil engineering works.

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 as modified by the revaluation of certain assets.

TURNOVER
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery20% on cost
Motor vehicles25% on cost

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.

INVESTMENT PROPERTY
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

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.

Weighill Builders Limited (Registered number: 01490114)

Notes to the Financial Statements - continued
for the Year Ended 29 May 2023

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 profit and loss account 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.

DEFERRED TAX
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

GOING CONCERN
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

PENSIONS
DEFINED CONTRIBUTION PENSION PLAN
The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

Weighill Builders Limited (Registered number: 01490114)

Notes to the Financial Statements - continued
for the Year Ended 29 May 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 30 May 2022 7,145 95,477 102,622
Disposals (749 ) (61,271 ) (62,020 )
At 29 May 2023 6,396 34,206 40,602
DEPRECIATION
At 30 May 2022 6,774 87,264 94,038
Charge for year 145 5,798 5,943
Eliminated on disposal (749 ) (61,271 ) (62,020 )
At 29 May 2023 6,170 31,791 37,961
NET BOOK VALUE
At 29 May 2023 226 2,415 2,641
At 29 May 2022 371 8,213 8,584

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 May 2022
and 29 May 2023 15,000
NET BOOK VALUE
At 29 May 2023 15,000
At 29 May 2022 15,000

The fair value of the investment property has been arrived at on an open market basis by the directors of the company.

Fair value at 29 May 2023 is represented by:
£   
Valuation in 2021 15,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 87,171 14,220
Other debtors 5,829 5,400
93,000 19,620

The directors consider the carrying value of trade and other receivables approximate to their fair values.

Weighill Builders Limited (Registered number: 01490114)

Notes to the Financial Statements - continued
for the Year Ended 29 May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) - 4,200
Trade creditors 30,270 9,038
Taxation and social security 31,386 11,215
Other creditors 10,031 10,325
71,687 34,778

The directors consider the carrying amounts of current liabilities approximate to their fair values.

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year - 4,200

Non-cancellable operating leases
2023 2022
£    £   
Within one year - 3,470

9. RESERVES

INVESTMENT REVALUATION RESERVES
The Company uses the revaluation model for the measurement of its investment properties. The reserve records there valuation surplus recognised less the related provision for deferred tax. This is a non distributable reserve.

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £3,996 (2022 - £5,166).

11. RELATED PARTY DISCLOSURES

At the balance sheet date included in other creditors were amounts due to the director P S Iles of £8,696 (2022 - £8,925).