Registered number
08919360
Heappey Construction Services Ltd
Filleted Accounts
30 November 2022
Heappey Construction Services Ltd
Registered number: 08919360
Balance Sheet
as at 30 November 2022
Notes 2022 2021
£ £
Current assets
Debtors 3 13,210 -
Cash at bank and in hand - 16,964
13,210 16,964
Creditors: amounts falling due within one year 4 (12,563) (9,923)
Net current assets 647 7,041
Total assets less current liabilities 647 7,041
Creditors: amounts falling due after more than one year 5 (11,570) (16,842)
Net liabilities (10,923) (9,801)
Capital and reserves
Called up share capital 3 3
Profit and loss account (10,926) (9,804)
Shareholder's funds (10,923) (9,801)
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 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.
Mr C Heappey
Director
Approved by the board on 4 October 2023
Heappey Construction Services Ltd
Notes to the Accounts
for the year ended 30 November 2022
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).
Going Concern
The company ceased trading on 30 November 2021 and the financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company’s assets down to net realisable value. Provisions have also been made in respect of contracts which have become onerous at the reporting date. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.
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.
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 over 5 years
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.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2022 2021
£ £
Director's loans 9,970 -
Other debtors 3,240 -
13,210 -
4 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 9,323 4,658
Trade creditors - 96
Director's account - 72
Corp Tax s455 provision 3,240 -
Taxation and social security costs - 5,097
12,563 9,923
5 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 11,570 16,842
6 Loans 2022 2021
£ £
Creditors include:
Instalments falling due for payment after more than five years - 2,509
7 Loans to directors
Description and conditions B/fwd Loan Repaid C/fwd
£ £ £ £
Mr C Heappey
13/12/2021 Short term loan of £11000 repayable by 30/09/2023. Interest charged monthly on the daily balance outstanding at rate of 2% p.a until 5/4/2023 & 2.25% p.a from 6/4/2023. 11,000 (1,030) 9,970
- 11,000 (1,030) 9,970
The £11,000 loaned on 13 December 2021 was part repaid on 30 November 2022 and repaid in full on 30 September 2023. Interest charged monthly on the daily balance outstanding at rate of 2% p.a until 5/4/2023 & 2.25% p.a from 6/4/2023. Interest of £399 was paid in total, £211 to 30 November 2022 and a further £188 to 30 September 2023.
8 Related party transactions
The Director maintains an account with the Company, introducing and withdrawing monies from time to time, in accordance with the working capital requirements of the Company. The balance owed to the director is shown in Note 4. At no point during the accounting period was there an amount owed to the company by the director except for the specific loans shown in Note 7. The balance owed by the company to the director was deducted from Loans to the Director as repayments.
9 Controlling party
The company is controlled by its director
10 Other information
Heappey Construction Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12 Maylands
Borrowash
Derby
Derbyshire
DE72 3LE
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