Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-011012falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07556310 2022-04-01 2023-03-31 07556310 2021-04-01 2022-03-31 07556310 2023-03-31 07556310 2022-03-31 07556310 c:Director1 2022-04-01 2023-03-31 07556310 c:Director2 2022-04-01 2023-03-31 07556310 d:PlantMachinery 2022-04-01 2023-03-31 07556310 d:PlantMachinery 2023-03-31 07556310 d:PlantMachinery 2022-03-31 07556310 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07556310 d:MotorVehicles 2022-04-01 2023-03-31 07556310 d:MotorVehicles 2023-03-31 07556310 d:MotorVehicles 2022-03-31 07556310 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07556310 d:OfficeEquipment 2022-04-01 2023-03-31 07556310 d:OfficeEquipment 2023-03-31 07556310 d:OfficeEquipment 2022-03-31 07556310 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07556310 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07556310 d:CurrentFinancialInstruments 2023-03-31 07556310 d:CurrentFinancialInstruments 2022-03-31 07556310 d:Non-currentFinancialInstruments 2023-03-31 07556310 d:Non-currentFinancialInstruments 2022-03-31 07556310 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07556310 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07556310 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07556310 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 07556310 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07556310 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 07556310 d:ShareCapital 2023-03-31 07556310 d:ShareCapital 2022-03-31 07556310 d:RetainedEarningsAccumulatedLosses 2023-03-31 07556310 d:RetainedEarningsAccumulatedLosses 2022-03-31 07556310 c:FRS102 2022-04-01 2023-03-31 07556310 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07556310 c:FullAccounts 2022-04-01 2023-03-31 07556310 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07556310 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 07556310









NB CONSTRUCTION (SOUTH EAST) LIMITED







UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
NB CONSTRUCTION (SOUTH EAST) LIMITED
 

CONTENTS



Page
Directors' Report
1
Accountants' Report
2
Statement of Financial Position
3 - 4
Notes to the Financial Statements
5 - 11


 
NB CONSTRUCTION (SOUTH EAST) LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2023

The directors present their report and the financial statements for the year ended 31 March 2023.

Principal activity

The Company's principal activity was that of construction of steel structures for residential houses.

Directors

The directors who served during the year were:

Mr N Taylforth 
Mrs B Taylforth 

Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 


................................................
Mr N Taylforth
Director
Date: 1 November 2023

Page 1

 
NB CONSTRUCTION (SOUTH EAST) LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NB CONSTRUCTION (SOUTH EAST) LIMITED
FOR THE YEAR ENDED 31 MARCH 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of NB Construction (South East) Limited for the year ended 31 March 2023 which comprise  the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of NB Construction (South East) Limited, as a body, in accordance with the terms of our engagement letter dated 5th April 2012Our work has been undertaken solely to prepare for your approval the financial statements of NB Construction (South East) Limited  and state those matters that we have agreed to state to the Board of Directors of NB Construction (South East) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NB Construction (South East) Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that NB Construction (South East) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of NB Construction (South East) Limited. You consider that NB Construction (South East) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of NB Construction (South East) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Gibson Appleby
 
Chartered Accountants
  
1-3 Ship Street
Shoreham-by-Sea
West Sussex
BN43 5DH
8 November 2023
Page 2

 
NB CONSTRUCTION (SOUTH EAST) LIMITED
REGISTERED NUMBER: 07556310

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
52,559
71,248

  
52,559
71,248

Current assets
  

Stocks
  
199,180
24,732

Debtors: amounts falling due within one year
 5 
205,094
338,906

Cash at bank and in hand
  
214,155
476,017

  
618,429
839,655

Creditors: amounts falling due within one year
 6 
(168,736)
(177,186)

Net current assets
  
 
 
449,693
 
 
662,469

Total assets less current liabilities
  
502,252
733,717

Creditors: amounts falling due after more than one year
 7 
-
(11,786)

  

Net assets
  
502,252
721,931


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
502,152
721,831

  
502,252
721,931


Page 3

 
NB CONSTRUCTION (SOUTH EAST) LIMITED
REGISTERED NUMBER: 07556310
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr N Taylforth
Director
Date: 1 November 2023

The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
NB CONSTRUCTION (SOUTH EAST) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The company is registered in England and its registered number is 07556310. The company is a  private company limited by shares. Its registered office is 1-3 Ship Street, Shoreham-by-sea, West Sussex BN43 5DH.
The financial statements are presented in sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
NB CONSTRUCTION (SOUTH EAST) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing
Page 6

 
NB CONSTRUCTION (SOUTH EAST) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

Page 7

 
NB CONSTRUCTION (SOUTH EAST) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.14

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Page 8

 
NB CONSTRUCTION (SOUTH EAST) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 12).


4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
49,546
143,953
19,341
212,840


Disposals
-
(6,613)
-
(6,613)



At 31 March 2023

49,546
137,340
19,341
206,227



Depreciation


At 1 April 2022
42,015
81,384
18,193
141,592


Charge for the year on owned assets
1,687
15,573
1,149
18,409


Disposals
-
(6,333)
-
(6,333)



At 31 March 2023

43,702
90,624
19,342
153,668



Net book value



At 31 March 2023
5,844
46,716
(1)
52,559



At 31 March 2022
7,530
62,569
1,149
71,248

Page 9

 
NB CONSTRUCTION (SOUTH EAST) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
149,479
230,945

Other debtors
55,615
107,961

205,094
338,906



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
11,786
-

Trade creditors
45,703
19,174

Corporation tax
-
20,169

Other taxation and social security
17,395
12,232

Other creditors
89,006
59,949

Accruals and deferred income
4,846
65,662

168,736
177,186



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
11,786

-
11,786


Page 10

 
NB CONSTRUCTION (SOUTH EAST) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
11,786
-


11,786
-

Amounts falling due 1-2 years

Bank loans
-
11,786


-
11,786



11,786
11,786



9.


Pension commitments

The company operates a defined contribution pension scheme for the directors and senior employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £Nil were due to the fund. 

 
Page 11