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P.A.Bott Construction Limited

Annual Report and Financial Statements

for the Year Ended 31 July 2023

 

P.A.Bott Construction Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

P.A.Bott Construction Limited

Company Information

Director

Mr P A Bott

Registered office

Negys Gorthbow
Schooners Business Park
Bess Park Road
Wadebridge
Cornwall
PL27 6HB

Registered number

05870317 (England & Wales)

Accountants

Alexander & Co
AAT Licenced Accountant
Schooners Business Park
Bess Park Road
Wadebridge
Cornwall
PL27 6HB

 

P.A.Bott Construction Limited

(Registration number: 05870317)
Balance Sheet as at 31 July 2023

Note

2023

2022

   

£

£

£

£

fixed assets

   

 

tangible assets

5

 

108,920

 

93,992

Current assets

   

 

stocks

6

201,928

 

96,912

 

Debtors

7

282,477

 

125,590

 

Cash at bank and in hand

 

450,849

 

203,663

 

 

935,254

 

426,165

 

Creditors: Amounts falling due within one year

8

(361,155)

 

(109,539)

 

Net current assets

   

574,099

 

316,626

Total assets less current liabilities

   

683,019

 

410,618

Creditors: Amounts falling due after more than one year

8

 

-

 

(35,833)

Provisions for liabilities

10

 

(20,695)

 

(14,057)

Net assets

   

662,324

 

360,728

capital and reserves

   

 

Called up share capital

9

100

 

1

 

Profit and loss account

662,224

 

360,727

 

Total equity

   

662,324

 

360,728

For the financial year ending 31 July 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.

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.

 

P.A.Bott Construction Limited

(Registration number: 05870317)
Balance Sheet as at 31 July 2023

Approved and authorised by the director on 18 October 2023


 

.........................................

Mr P A Bott
Director

 

P.A.Bott Construction Limited

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

1

General information

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

The address of its registered office is:
Negys Gorthbow
Schooners Business Park
Bess Park Road
Wadebridge
Cornwall
PL27 6HB

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 sales/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.

 

P.A.Bott Construction Limited

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

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

25% RB

Computer equipment

33% SL

Motor vehicles

25% RB

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

P.A.Bott Construction Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 15 (2022 - 15).

4

Taxation

Tax charged/(credited) in the income statement

2023
 £

2022
 £

Current taxation

UK corporation tax

85,491

19,482

UK corporation tax adjustment to prior periods

-

(6,961)

85,491

12,521

Deferred taxation

Arising from changes in tax rates and laws

6,638

14,057

Tax expense in the income statement

92,129

26,578

 

P.A.Bott Construction Limited

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

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

1,413

97,629

136,868

235,910

Additions

694

57,712

6,999

65,405

Disposals

-

(197)

(58,343)

(58,540)

At 31 July 2023

2,107

155,144

85,524

242,775

Depreciation

At 1 August 2022

466

54,705

86,747

141,918

Charge for the year

696

25,122

10,870

36,688

Eliminated on disposal

-

(49)

(44,702)

(44,751)

At 31 July 2023

1,162

79,778

52,915

133,855

Carrying amount

At 31 July 2023

945

75,366

32,609

108,920

At 31 July 2022

947

42,924

50,121

93,992

6

Stocks

2023
£

2022
£

Work in progress

201,928

96,912

7

Debtors

Current

2023
£

2022
£

Trade debtors

157,176

53,828

Prepayments

8,359

2,537

Other debtors

116,942

69,225

 

282,477

125,590

 

P.A.Bott Construction Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

12

-

10,000

Trade creditors

 

74,976

10,428

Taxation and social security

 

198,128

37,011

Accruals and deferred income

 

1,072

1,066

Other creditors

 

86,979

51,034

 

361,155

109,539

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

12

-

35,833

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

100

100

1

1

         

10

Deferred tax and other provisions

Deferred tax
£

Total
£

At 1 August 2022

14,057

14,057

Increase (decrease) in existing provisions

6,638

6,638

At 31 July 2023

20,695

20,695

11

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £340.00 (2022 - £2,000.00) per ordinary share

 

34,000

 

2,000

         
 

P.A.Bott Construction Limited

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

12

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

35,833

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

10,000