10 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05950602 2022-04-01 2023-03-31 05950602 2023-03-31 05950602 2022-03-31 05950602 2021-04-01 2022-03-31 05950602 2022-03-31 05950602 2021-03-31 05950602 core:MotorVehicles 2022-04-01 2023-03-31 05950602 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 05950602 bus:Director1 2022-04-01 2023-03-31 05950602 bus:Director3 2022-04-01 2023-03-31 05950602 core:MotorVehicles 2022-03-31 05950602 core:MotorVehicles 2023-03-31 05950602 core:WithinOneYear 2023-03-31 05950602 core:WithinOneYear 2022-03-31 05950602 core:AfterOneYear 2023-03-31 05950602 core:AfterOneYear 2022-03-31 05950602 core:ShareCapital 2023-03-31 05950602 core:ShareCapital 2022-03-31 05950602 core:RetainedEarningsAccumulatedLosses 2023-03-31 05950602 core:RetainedEarningsAccumulatedLosses 2022-03-31 05950602 core:MotorVehicles 2022-03-31 05950602 bus:Director1 2022-03-31 05950602 bus:Director1 2023-03-31 05950602 bus:Director3 2022-03-31 05950602 bus:Director1 2021-03-31 05950602 bus:Director1 2022-03-31 05950602 bus:Director3 2021-03-31 05950602 bus:Director3 2022-03-31 05950602 bus:Director1 2021-04-01 2022-03-31 05950602 bus:Director3 2021-04-01 2022-03-31 05950602 bus:SmallEntities 2022-04-01 2023-03-31 05950602 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05950602 bus:FullAccounts 2022-04-01 2023-03-31 05950602 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 05950602 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05950602 core:ComputerEquipment 2022-04-01 2023-03-31 05950602 core:ComputerEquipment 2022-03-31 05950602 core:ComputerEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: 05950602
West tec Construction Limited
Filleted Unaudited Financial Statements
31 March 2023
West tec Construction Limited
Financial Statements
Year ended 31 March 2023
Contents
Page
Report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
West tec Construction Limited
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of West tec Construction Limited
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 West tec Construction 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
JAY & JAY PARTNERSHIP LIMITED Chartered Certified Accountants
2 Chesterfield Buildings Westbourne Place Clifton Bristol BS8 1RU
10 August 2023
West tec Construction Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
28,902
35,897
Current assets
Debtors
6
419,704
381,902
Cash at bank and in hand
179,040
43,006
---------
---------
598,744
424,908
Creditors: amounts falling due within one year
7
512,500
401,136
---------
---------
Net current assets
86,244
23,772
---------
--------
Total assets less current liabilities
115,146
59,669
Creditors: amounts falling due after more than one year
8
140,079
200,972
---------
---------
Net liabilities
( 24,933)
( 141,303)
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 24,935)
( 141,305)
--------
---------
Shareholders deficit
( 24,933)
( 141,303)
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
West tec Construction Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 10 August 2023 , and are signed on behalf of the board by:
Mr C Boyce
Director
Company registration number: 05950602
West tec Construction Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 30 Whiteladies Road, Clifton, Bristol, BS8 2LG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the going concern basis. This basis may not be appropriate because the company has net liabilities at 31 March 2023 and 31 March 2022. The future of the company is dependent upon the continued support of the directors and other creditors. The accounts do not include any provisions for liabilities that may arise if the directors' or other creditor's support is withdrawn.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis 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 and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 10 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 April 2022
75,574
5,290
80,864
Additions
2,640
2,640
--------
-------
--------
At 31 March 2023
75,574
7,930
83,504
--------
-------
--------
Depreciation
At 1 April 2022
41,819
3,148
44,967
Charge for the year
8,439
1,196
9,635
--------
-------
--------
At 31 March 2023
50,258
4,344
54,602
--------
-------
--------
Carrying amount
At 31 March 2023
25,316
3,586
28,902
--------
-------
--------
At 31 March 2022
33,755
2,142
35,897
--------
-------
--------
6. Debtors
2023
2022
£
£
Trade debtors
397,217
346,234
Other debtors
22,487
35,668
---------
---------
419,704
381,902
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
50,000
50,000
Trade creditors
286,119
288,246
Social security and other taxes
63,242
22,872
Other creditors
113,139
40,018
---------
---------
512,500
401,136
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
129,167
179,167
Other creditors
10,912
21,805
---------
---------
140,079
200,972
---------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr C Boyce
( 19,620)
( 69,240)
( 88,860)
Mr J Boyce
( 1,334)
1,334
--------
--------
-------
--------
( 20,954)
( 69,240)
1,334
( 88,860)
--------
--------
-------
--------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr C Boyce
( 239,240)
190
219,430
( 19,620)
Mr J Boyce
( 57,240)
190
55,716
( 1,334)
---------
----
---------
--------
( 296,480)
380
275,146
( 20,954)
---------
----
---------
--------
The directors loans are interest free and repayable on demand.