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REGISTERED NUMBER: 07809230 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2023

for

SAS CONSTRUCT-IT LIMITED

SAS CONSTRUCT-IT LIMITED (REGISTERED NUMBER: 07809230)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SAS CONSTRUCT-IT LIMITED

Company Information
for the Year Ended 30 June 2023







DIRECTORS: P D Sims
R Smith





REGISTERED OFFICE: 100 Church Street
Brighton
East Sussex
BN1 1UJ





REGISTERED NUMBER: 07809230 (England and Wales)





ACCOUNTANTS: Paddenburg & Co Limited
100 Church Street
Brighton
East Sussex
BN1 1UJ

SAS CONSTRUCT-IT LIMITED (REGISTERED NUMBER: 07809230)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 110,000 118,035

CURRENT ASSETS
Stocks 5 9,800 14,448
Debtors 6 36,674 24,105
Cash at bank 1,687 62,594
48,161 101,147
CREDITORS
Amounts falling due within one year 7 62,771 79,881
NET CURRENT (LIABILITIES)/ASSETS (14,610 ) 21,266
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,390

139,301

CREDITORS
Amounts falling due after more than one
year

8

(37,451

)

(63,050

)

PROVISIONS FOR LIABILITIES 10 (27,500 ) (22,427 )
NET ASSETS 30,439 53,824

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 30,435 53,820
SHAREHOLDERS' FUNDS 30,439 53,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SAS CONSTRUCT-IT LIMITED (REGISTERED NUMBER: 07809230)

Balance Sheet - continued
30 June 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 Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:




P D Sims - Director



R Smith - Director


SAS CONSTRUCT-IT LIMITED (REGISTERED NUMBER: 07809230)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

SAS Construct-It 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.

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 represents the sales value of building contract work carried out, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 33% on reducing balance and 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Deferred tax
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

SAS CONSTRUCT-IT LIMITED (REGISTERED NUMBER: 07809230)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 132,593 24,020 757 157,370
Additions 7,720 - 2,788 10,508
Disposals (4,568 ) - - (4,568 )
At 30 June 2023 135,745 24,020 3,545 163,310
DEPRECIATION
At 1 July 2022 24,663 14,013 659 39,335
Charge for year 14,038 2,502 316 16,856
Eliminated on disposal (2,881 ) - - (2,881 )
At 30 June 2023 35,820 16,515 975 53,310
NET BOOK VALUE
At 30 June 2023 99,925 7,505 2,570 110,000
At 30 June 2022 107,930 10,007 98 118,035

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 July 2022
and 30 June 2023 60,579
DEPRECIATION
At 1 July 2022 9,769
Charge for year 7,235
At 30 June 2023 17,004
NET BOOK VALUE
At 30 June 2023 43,575
At 30 June 2022 50,810

5. STOCKS
2023 2022
£    £   
Stocks 9,800 14,448

SAS CONSTRUCT-IT LIMITED (REGISTERED NUMBER: 07809230)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 25,406 15,462
Other debtors 2,390 1,030
VAT 7,270 6,471
Prepayments 1,608 1,142
36,674 24,105

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 10,000 9,759
Hire purchase contracts 15,184 15,051
Trade creditors 13,442 17,336
Tax 21,264 19,396
Social security and other taxes (1,997 ) 3,245
Directors' loan accounts 2,678 11,899
Accrued expenses 2,200 3,195
62,771 79,881

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 26,667 37,042
Hire purchase contracts 10,784 26,008
37,451 63,050

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 9,759

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,006

Amounts falling due between two and five years:
Bank loans - 2-5 years 16,667 27,036

Due to the adverse impact of Covid-19, the company gained a Bank Bounce Back Loan totalling £50,000.

Repayments are due over sixty consecutive months and commence thirteen months after the release of funds in February, 2021.

Total repayment (capital and interest) total £53,322
.

SAS CONSTRUCT-IT LIMITED (REGISTERED NUMBER: 07809230)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 27,500 22,427

Deferred
tax
£   
Balance at 1 July 2022 22,427
Accelerated capital allowances 5,073
Balance at 30 June 2023 27,500

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party as both directors have equal share holding in the company.