STAT CONSTRUCTION LTD
Trial balance AutoHide is on Current year Comparative
Enter debits as + and credits as - [assets and expenses are debits] £ £
PROFIT AND LOSS ACCOUNT
Turnover Sales -50,150 -130,800
Cost of sales Purchases 15,650 17,145
Decrease/increase in stocks
Subcontractor costs
Direct labour
Carriage
Discounts allowed
Commissions payable
Other direct costs
Distribution costs Distribution costs
Employee costs Wages and salaries 12,514 45,910
Directors' salaries
Pensions
Bonuses
Employer's NI
Temporary staff and recruitment
Staff training and welfare
Travel and subsistence
Motor expenses 6,842 7,848
Entertaining
Premises costs Rent 12,000 12,000
Rates
Service charges
Light and heat
Cleaning 350 285
Use of home
General admin Telephone and fax 1,125 1,254
Postage
Stationery and printing
Courier services
Information and publications
Subscriptions
Bank charges
Insurance
Equipment expensed
Equipment hire
Software
Repairs and maintenance
Depreciation 4,182 5,099
Amortisation of goodwill
Bad debts
Sundry expenses
Legal and professional costs Audit fees
Accountancy fees 1,230
Solicitors fees
Consultancy fees
Management fees
Advertising and PR
Other legal and professional
Other operating income Other operating income
P/l on disposal Land and buildings
Plant & machinery
Investments
Gain/loss on revaluation Fixed asset investments
Current asset investments - listed
Current asset investments - unlisted
Income from investments Income from investments
Interest receivable Interest receivable
Interest payable Interest payable
Non-equity dividends
Taxation Corporation tax
Corporation tax - prior year adjustments
Deferred tax
Retained (profit)/loss 3,743 -41,259
BALANCE SHEET
Intangible FA Cost - b/fwd
Cost - additions
Cost - disposals
Amortisation - b/fwd
Amortisation - provided in year
Amortisation - disposals
Land & buildings Cost - b/fwd
Cost - additions
Cost - revaluation
Cost - disposals
Depn - b/fwd
Depn - charge for the year
Depn - revaluation
Depn - disposals
Plant & machinery Cost - b/fwd 22,000 22,000
Cost - additions
Cost - disposals
Depn - b/fwd -7,207 -3,960
Depn - provided in year -2,663 -3,247
Depn - disposals
Motor vehicles Cost - b/fwd 12,550 12,550
Cost - additions
Cost - disposals
Depn - b/fwd -4,111 -2,259
Depn - provided in year -1,519 -1,852
Depn - disposals
Investments in subsidiaries B/fwd
Additions
Revaluation
Disposals
Other investments - listed B/fwd
Additions
Revaluation
Disposals
Other investments - unlisted B/fwd
Additions
Revaluation
Disposals
Stocks Stocks
Debtors Trade debtors
Due from group undertakings
Other debtors
Current asset investments Listed
Unlisted
Cash at bank Cash at bank 100 100
Creditors less than 1yr Overdrafts
Bank loans
Finance lease and HP contracts
Director current account's -37,179 -37,618
Corporation tax
Trade creditors
Due to group undertakings
Corporation tax
Other taxes and social security
Proposed dividends
Accrued preference dividends
Non-equity preference shares
Other creditors
Creditors greater than 1yr Bank loans
Finance lease and HP contracts
Trade creditors
Due to group undertakings
Non-equity preference shares
Other creditors
Deferred tax B/fwd
Charged to the p/l account
Charged to other comprehensive income
Share capital B/fwd -100 -100
Shares issued
Shares redeemed
Share premium B/fwd
On shares issued
Expenses of issue
Revaluation reserve B/fwd
Gain on revaluation of land and buildings
Deferred taxation arising on the revaluation of land and buildings
Profit and loss account B/fwd 14,386 55,645
Equity dividends
Totals (all should be zero) 0 0
Registered number
11240673
STAT CONSTRUCTION LTD
Filleted Accounts
31 March 2023
STAT CONSTRUCTION LTD
Registered number: 11240673
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 2 19,050 23,232
Current assets
Cash at bank and in hand 100 100
Creditors: amounts falling due within one year 3 (37,179) (37,618)
Net current liabilities (37,079) (37,518)
Net liabilities (18,029) (14,286)
Capital and reserves
Called up share capital 100 100
Profit and loss account (18,129) (14,386)
Shareholder's funds (18,029) (14,286)
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.
ARSLAN ASLAN
Director
Approved by the board on 15 December 2022
STAT CONSTRUCTION LTD
Notes to the Accounts
for the year ended 31 March 2023
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).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 22,000 12,550 34,550
At 31 March 2023 22,000 12,550 34,550
Depreciation
At 1 April 2022 7,207 4,111 11,318
Charge for the year 2,663 1,519 4,182
At 31 March 2023 9,870 5,630 15,500
Net book value
At 31 March 2023 12,130 6,920 19,050
At 31 March 2022 14,793 8,439 23,232
3 Creditors: amounts falling due within one year 2023 2022
£ £
Director current account's 37,179 37,618
4 Other information
STAT CONSTRUCTION LTD is a private company limited by shares and incorporated in England. Its registered office is:
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