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REGISTERED NUMBER: 04702977 (England and Wales)















AFD CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






AFD CONSTRUCTION LIMITED (REGISTERED NUMBER: 04702977)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AFD CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr Alexander Fredrick Dickson





REGISTERED OFFICE: 15 High Street
Brackley
Northamptonshire
NN13 7DH





REGISTERED NUMBER: 04702977 (England and Wales)





ACCOUNTANTS: Blencowes
15 High Street
Brackley
Northamptonshire
NN13 7DH

AFD CONSTRUCTION LIMITED (REGISTERED NUMBER: 04702977)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 87,833 121,833
Tangible assets 5 9,815 4,106
97,648 125,939

CURRENT ASSETS
Debtors 6 429,127 376,340
Prepayments and accrued income 14,203 2,073
Cash at bank 917,906 373,590
1,361,236 752,003
CREDITORS
Amounts falling due within one year 7 717,784 544,031
NET CURRENT ASSETS 643,452 207,972
TOTAL ASSETS LESS CURRENT
LIABILITIES

741,100

333,911

CREDITORS
Amounts falling due after more than one
year

8

(22,689

)

(32,164

)

PROVISIONS FOR LIABILITIES (1,865 ) -

ACCRUALS AND DEFERRED INCOME (6,441 ) (55,502 )
NET ASSETS 710,105 246,245

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 710,103 246,243
SHAREHOLDERS' FUNDS 710,105 246,245

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

AFD CONSTRUCTION LIMITED (REGISTERED NUMBER: 04702977)

BALANCE SHEET - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 October 2023 and were signed by:





Mr Alexander Fredrick Dickson - Director


AFD CONSTRUCTION LIMITED (REGISTERED NUMBER: 04702977)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

AFD Construction 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 (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Construction contracts

When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Office equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


AFD CONSTRUCTION LIMITED (REGISTERED NUMBER: 04702977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 170,000
AMORTISATION
At 1 April 2022 48,167
Charge for year 34,000
At 31 March 2023 82,167
NET BOOK VALUE
At 31 March 2023 87,833
At 31 March 2022 121,833

AFD CONSTRUCTION LIMITED (REGISTERED NUMBER: 04702977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 April 2022 4,450 2,832 7,282
Additions 8,236 1,857 10,093
At 31 March 2023 12,686 4,689 17,375
DEPRECIATION
At 1 April 2022 2,513 663 3,176
Charge for year 3,171 1,213 4,384
At 31 March 2023 5,684 1,876 7,560
NET BOOK VALUE
At 31 March 2023 7,002 2,813 9,815
At 31 March 2022 1,937 2,169 4,106

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,331 59,919
Amounts recoverable on contract 416,796 266,383
Other debtors - 15,219
Directors' current accounts - 34,819
429,127 376,340

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,433 10,433
Trade creditors 285,123 317,068
Tax 219,865 73,022
Social security and other taxes 282 55
VAT 125,623 121,903
Other creditors 15,604 14,245
Associated companies 60,775 7,305
Directors' current accounts 79 -
717,784 544,031

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 22,689 32,164