Silverfin false 31/03/2023 01/04/2022 31/03/2023 S Burge 16/04/2018 B Collinson 18/09/2017 J R Hodge 01/11/2015 K Hodge 25/01/1995 20 October 2023 The principal activity of the Company during the financial year was that of site preperation. 03014030 2023-03-31 03014030 bus:Director1 2023-03-31 03014030 bus:Director2 2023-03-31 03014030 bus:Director3 2023-03-31 03014030 bus:Director4 2023-03-31 03014030 2022-03-31 03014030 core:CurrentFinancialInstruments 2023-03-31 03014030 core:CurrentFinancialInstruments 2022-03-31 03014030 core:Non-currentFinancialInstruments 2023-03-31 03014030 core:Non-currentFinancialInstruments 2022-03-31 03014030 core:ShareCapital 2023-03-31 03014030 core:ShareCapital 2022-03-31 03014030 core:RetainedEarningsAccumulatedLosses 2023-03-31 03014030 core:RetainedEarningsAccumulatedLosses 2022-03-31 03014030 core:PlantMachinery 2022-03-31 03014030 core:Vehicles 2022-03-31 03014030 core:FurnitureFittings 2022-03-31 03014030 core:OfficeEquipment 2022-03-31 03014030 core:PlantMachinery 2023-03-31 03014030 core:Vehicles 2023-03-31 03014030 core:FurnitureFittings 2023-03-31 03014030 core:OfficeEquipment 2023-03-31 03014030 core:CurrentFinancialInstruments core:Secured 2023-03-31 03014030 2021-03-31 03014030 2022-04-01 2023-03-31 03014030 bus:FullAccounts 2022-04-01 2023-03-31 03014030 bus:SmallEntities 2022-04-01 2023-03-31 03014030 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 03014030 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03014030 bus:Director1 2022-04-01 2023-03-31 03014030 bus:Director2 2022-04-01 2023-03-31 03014030 bus:Director3 2022-04-01 2023-03-31 03014030 bus:Director4 2022-04-01 2023-03-31 03014030 core:PlantMachinery 2022-04-01 2023-03-31 03014030 core:Vehicles 2022-04-01 2023-03-31 03014030 core:FurnitureFittings core:TopRangeValue 2022-04-01 2023-03-31 03014030 core:OfficeEquipment core:TopRangeValue 2022-04-01 2023-03-31 03014030 2021-04-01 2022-03-31 03014030 core:FurnitureFittings 2022-04-01 2023-03-31 03014030 core:OfficeEquipment 2022-04-01 2023-03-31 03014030 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 03014030 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 03014030 (England and Wales)

K & J HODGE CONTRACTORS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

K & J HODGE CONTRACTORS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

K & J HODGE CONTRACTORS LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
K & J HODGE CONTRACTORS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS S Burge
B Collinson
J R Hodge
K Hodge
REGISTERED OFFICE Hammer's Yard Greenway Lane
Thornfalcon
Taunton
TA3 5NF
England
United Kingdom
COMPANY NUMBER 03014030 (England and Wales)
CHARTERED ACCOUNTANTS Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
K & J HODGE CONTRACTORS LIMITED

BALANCE SHEET

As at 31 March 2023
K & J HODGE CONTRACTORS LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 843,075 892,835
843,075 892,835
Current assets
Stocks 4 264,667 279,498
Debtors 5 1,211,209 1,377,842
Cash at bank and in hand 140 138
1,476,016 1,657,478
Creditors: amounts falling due within one year 6 ( 1,733,826) ( 1,972,546)
Net current liabilities (257,810) (315,068)
Total assets less current liabilities 585,265 577,767
Creditors: amounts falling due after more than one year 7 ( 373,213) ( 528,727)
Provision for liabilities 8 ( 80,943) ( 39,419)
Net assets 131,109 9,621
Capital and reserves
Called-up share capital 62 62
Profit and loss account 131,047 9,559
Total shareholders' funds 131,109 9,621

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of K & J Hodge Contractors Limited (registered number: 03014030) were approved and authorised for issue by the Board of Directors on 20 October 2023. They were signed on its behalf by:

J R Hodge
Director
K & J HODGE CONTRACTORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
K & J HODGE CONTRACTORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

K & J Hodge Contractors Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hammer's Yard Greenway Lane, Thornfalcon, Taunton, TA3 5NF, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 44 34

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 April 2022 1,501,867 344,463 8,305 1,857 1,856,492
Additions 167,992 55,170 0 759 223,921
Disposals ( 150,428) ( 42,446) 0 0 ( 192,874)
At 31 March 2023 1,519,431 357,187 8,305 2,616 1,887,539
Accumulated depreciation
At 01 April 2022 829,403 128,050 4,983 1,221 963,657
Charge for the financial year 164,332 54,038 1,661 510 220,541
Disposals ( 119,397) ( 20,337) 0 0 ( 139,734)
At 31 March 2023 874,338 161,751 6,644 1,731 1,044,464
Net book value
At 31 March 2023 645,093 195,436 1,661 885 843,075
At 31 March 2022 672,464 216,413 3,322 636 892,835

4. Stocks

2023 2022
£ £
Stocks 127,390 240,000
Work in progress 137,277 39,498
264,667 279,498

5. Debtors

2023 2022
£ £
Trade debtors 736,078 878,930
Corporation tax 9,168 9,167
Other debtors 465,963 489,745
1,211,209 1,377,842

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts (secured £ 86,663) 146,663 153,120
Trade creditors 785,031 724,368
Taxation and social security 68,279 145,671
Obligations under finance leases and hire purchase contracts 225,605 386,171
Other creditors 508,248 563,216
1,733,826 1,972,546

Bank overdrafts are secured by a personal guarantee.

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 155,000 228,973
Other loans (secured) 15,316 102,113
Obligations under finance leases and hire purchase contracts (secured) 202,897 197,641
373,213 528,727

Hire purchase contracts are secured against assets to which they relate.

There is a loan presented in other creditors due within one year of £86,796 and in other loans due after more than one year £15,316. These are secured by a personal guarantee from the directors.

8. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 39,419) ( 97,907)
(Charged)/credited to the Profit and Loss Account ( 41,524) 58,488
At the end of financial year ( 80,943) ( 39,419)

9. Related party transactions

Transactions with the entity's directors

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 April 2022, the balance owed by K Hodge was £30,213. During the year, £8,287 was advanced to the director, and £18,000 was repaid by the director. At 31 March 2023, the balance owed by the director was £20,500.

At 1 April 2021, the balance owed by K Hodge was £nil. During the year, £30,213 was advanced to the director. At 31 March 2022, the balance owed by the director was £30,213.

At 1 April 2022, the balance owed by J Hodge was £nil. During the year, £28,097 was advanced to the director, and £11,257 was repaid by the director. At 31 March 2023, the balance owed by the director was £16,840.

At 1 April 2021, the balance owed by J Hodge was £nil. During the year there were no repayments or advances. At 31 March 2022, the balance owed by the director was £nil.