SW Building Contractors of Marlborough Limited 07520320 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of building contractors. Digita Accounts Production Advanced 6.30.9574.0 true 07520320 2022-04-01 2023-03-31 07520320 2023-03-31 07520320 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 07520320 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 07520320 core:CurrentFinancialInstruments 2023-03-31 07520320 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07520320 core:Non-currentFinancialInstruments 2023-03-31 07520320 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 07520320 core:MotorVehicles 2023-03-31 07520320 core:OfficeEquipment 2023-03-31 07520320 core:PlantMachinery 2023-03-31 07520320 bus:SmallEntities 2022-04-01 2023-03-31 07520320 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07520320 bus:FullAccounts 2022-04-01 2023-03-31 07520320 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 07520320 bus:RegisteredOffice 2022-04-01 2023-03-31 07520320 bus:Director1 2022-04-01 2023-03-31 07520320 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07520320 core:MotorVehicles 2022-04-01 2023-03-31 07520320 core:OfficeEquipment 2022-04-01 2023-03-31 07520320 core:PlantMachinery 2022-04-01 2023-03-31 07520320 core:Vehicles 2022-04-01 2023-03-31 07520320 countries:EnglandWales 2022-04-01 2023-03-31 07520320 2022-03-31 07520320 core:MotorVehicles 2022-03-31 07520320 core:OfficeEquipment 2022-03-31 07520320 core:PlantMachinery 2022-03-31 07520320 2021-04-01 2022-03-31 07520320 2022-03-31 07520320 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-03-31 07520320 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-03-31 07520320 core:CurrentFinancialInstruments 2022-03-31 07520320 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 07520320 core:Non-currentFinancialInstruments 2022-03-31 07520320 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 07520320 core:MotorVehicles 2022-03-31 07520320 core:OfficeEquipment 2022-03-31 07520320 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 07520320

SW Building Contractors of Marlborough Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

SW Building Contractors of Marlborough Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

SW Building Contractors of Marlborough Limited

(Registration number: 07520320)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

60,131

30,409

Current assets

 

Stocks

6

7,000

7,000

Debtors

7

54,583

29,406

Cash at bank and in hand

 

3,538

46,459

 

65,121

82,865

Creditors: Amounts falling due within one year

8

(79,363)

(69,556)

Net current (liabilities)/assets

 

(14,242)

13,309

Total assets less current liabilities

 

45,889

43,718

Creditors: Amounts falling due after more than one year

8

(16,933)

(37,643)

Provisions for liabilities

(15,033)

(5,778)

Net assets

 

13,923

297

Capital and reserves

 

Called up share capital

4

4

Retained earnings

13,919

293

Shareholders' funds

 

13,923

297

 

SW Building Contractors of Marlborough Limited

(Registration number: 07520320)
Balance Sheet as at 31 March 2023

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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the Board on 23 October 2023 and signed on its behalf by:
 

.........................................
S Wyatt
Director

 

SW Building Contractors of Marlborough Limited

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

1

General information

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

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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.

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 value added tax.

Government grants

Government grants are accounted for as revenue based grants under the accruals model in the period in which they are receivable.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

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.

 

SW Building Contractors of Marlborough Limited

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

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% reducing balance basis

Vehicles

20% straight line basis

Office equipment

25% reducing balance basis

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

SW Building Contractors of Marlborough Limited

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

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

Other operating income

2023

2022

£

£

Government grants

-

625

Miscellaneous other income

4,000

2,125

4,000

2,750

During the year the company received no money from the government relating to a bounce back loan (2022 £625). Included in other income is £4,000 (2022: £2,125) for apprenticeship grants.

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

 

SW Building Contractors of Marlborough Limited

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

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

34,158

4,936

62,441

101,535

Additions

-

230

39,786

40,016

At 31 March 2023

34,158

5,166

102,227

141,551

Depreciation

At 1 April 2022

21,900

2,948

46,278

71,126

Charge for the year

3,065

540

6,689

10,294

At 31 March 2023

24,965

3,488

52,967

81,420

Carrying amount

At 31 March 2023

9,193

1,678

49,260

60,131

At 31 March 2022

12,258

1,988

16,163

30,409

6

Stocks

2023
£

2022
£

Stock of materials

7,000

7,000

7

Debtors

Current

2023
£

2022
£

Trade debtors

120

255

Prepayments

3,876

1,975

Other debtors

50,587

27,176

 

54,583

29,406

 

SW Building Contractors of Marlborough Limited

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

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

6,156

8,482

Trade creditors

40,513

39,773

Taxation and social security

15,829

18,535

Other creditors

16,865

2,766

79,363

69,556

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

16,933

37,643

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

1,990

4,315

Other borrowings

4,166

4,167

6,156

8,482

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

266

16,810

Other borrowings

16,667

20,833

16,933

37,643