Registered number
11511115
Specialist Building Finishes Limited
Report and Accounts
31 May 2023
Specialist Building Finishes Limited
Registered number: 11511115
Balance Sheet
as at 31 May 2023
31st May 31st May
Notes 2023 2022
£ £
Current assets
Debtors 3 18,618 44
Cash at bank and in hand 47,102 47,716
65,720 47,760
Creditors: amounts falling due within one year 4 (25,499) (23,507)
Net current assets 40,221 24,253
Net assets 40,221 24,253
Capital and reserves
Called up share capital 100 100
Profit and loss account 40,121 24,153
Shareholders' funds 40,221 24,253
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 members have 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.
Mr NE Jones
Director
Approved by the board on 16 November 2023
Specialist Building Finishes Limited
Notes to the Accounts
for the year ended 31 May 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 and net of discounts. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods and services are recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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.
31st May 31st May
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
31st May 31st May
3 Debtors 2023 2022
£ £
Trade debtors 18,618 -
Other debtors - 44
18,618 44
4 Creditors: amounts falling due within one year
Amount owed to connected company 17,000 17,000
Other taxation and social security costs 3,856 -
Other creditors 3,727 5,591
Director's loan account 916 916
25,499 23,507
31st May 31st May
5 Related party transactions 2023 2022
£ £
Mr NE Jones
Director
Monies owed to the director at the year end 916 916
Plaster Plus Interiors Limited
Connected company
Mr NE Jones, director, held the beneficial interest
in this business throughout the year and the previous year.
Amount due to the related party at the year end 17,000 17,000
6 Other information
Specialist Building Finishes Limited is a private company limited by shares and incorporated in England. The registered office is:
Grosvenor House
16 Grosvenor Road
Cheadle Hulme
Stockport
SK8 5QJ
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