IRIS Accounts Production v23.3.0.418 03934193 director 1.4.22 31.3.23 31.3.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh039341932022-03-31039341932023-03-31039341932022-04-012023-03-31039341932021-03-31039341932021-04-012022-03-31039341932022-03-3103934193ns10:Originalns15:EnglandWales2022-04-012023-03-3103934193ns14:PoundSterlingns10:Original2022-04-012023-03-3103934193ns10:Originalns10:Director12022-04-012023-03-3103934193ns10:Original2022-04-012023-03-3103934193ns10:Original2023-03-3103934193ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3103934193ns10:Originalns10:SmallEntities2022-04-012023-03-3103934193ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3103934193ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3103934193ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3103934193ns10:Originalns10:FullAccounts2022-04-012023-03-3103934193ns10:Originalns10:OrdinaryShareClass12022-04-012023-03-3103934193ns10:Originalns10:RegisteredOffice2022-04-012023-03-3103934193ns10:Original2022-03-3103934193ns10:Originalns5:CurrentFinancialInstruments2023-03-3103934193ns10:Originalns5:CurrentFinancialInstruments2022-03-3103934193ns5:ShareCapitalns10:Original2023-03-3103934193ns5:ShareCapitalns10:Original2022-03-3103934193ns10:Originalns5:SharePremium2023-03-3103934193ns10:Originalns5:SharePremium2022-03-3103934193ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3103934193ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3103934193ns10:Originalns5:PlantMachinery2022-04-012023-03-3103934193ns10:Original2021-04-012022-03-3103934193ns10:Originalns5:PlantMachinery2022-03-3103934193ns10:Originalns5:PlantMachinery2023-03-3103934193ns10:Originalns5:PlantMachinery2022-03-3103934193ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3103934193ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3103934193ns10:Originalns5:DeferredTaxation2022-03-3103934193ns10:Originalns5:DeferredTaxation2022-04-012023-03-3103934193ns10:Originalns5:DeferredTaxation2023-03-3103934193ns10:Originalns10:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: 03934193 (England and Wales)















Construct Enterprises Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023






Construct Enterprises Ltd (Registered number: 03934193)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Construct Enterprises Ltd

Company Information
for the year ended 31 March 2023







Director: M J Cullinane





Registered office: 7-9 Churchfield Road
London
W3 6BH





Registered number: 03934193 (England and Wales)





Accountants: Haines Watts South East LLP
Chartered Accountants
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Construct Enterprises Ltd (Registered number: 03934193)

Balance Sheet
31 March 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 8,039 3,875

Current assets
Debtors 5 1,936,534 2,008,578
Cash at bank and in hand 209,033 9,240
2,145,567 2,017,818
Creditors
Amounts falling due within one year 6 546,602 586,659
Net current assets 1,598,965 1,431,159
Total assets less current liabilities 1,607,004 1,435,034

Capital and reserves
Called up share capital 8 8 8
Share premium 49,998 49,998
Retained earnings 1,556,998 1,385,028
Shareholders' funds 1,607,004 1,435,034

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 10 November 2023 and were signed by:





M J Cullinane - Director


Construct Enterprises Ltd (Registered number: 03934193)

Notes to the Financial Statements
for the year ended 31 March 2023


1. Statutory information

Construct Enterprises Ltd 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.

Going Concern
In common with other businesses, the company is affected by the COVID-19 virus and the unprecedented impact it is having on economic activity. At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Hence, the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating bad debt provisions and a review of trade debtors is carried regularly. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover represents amounts receivable for the provision of temporary staff provided in the year and is stated net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Construct Enterprises Ltd (Registered number: 03934193)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


2. Accounting policies - continued

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.

Financial instruments policy
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Hire purchase and leasing commitments

Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term.

3. Employees and directors

The average number of employees during the year was 11 (2022 - 10 ) .

4. Tangible fixed assets
Plant and
machinery
etc
£
Cost
At 1 April 2022 127,411
Additions 5,583
At 31 March 2023 132,994
Depreciation
At 1 April 2022 123,536
Charge for year 1,419
At 31 March 2023 124,955
Net book value
At 31 March 2023 8,039
At 31 March 2022 3,875

Construct Enterprises Ltd (Registered number: 03934193)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 994,844 1,078,706
Amounts owed by group undertakings 919,998 919,998
Other debtors 21,692 9,874
1,936,534 2,008,578

HSBC Invoice Finance (UK) Limited have a fixed equitable charge over trade debtors due and to become due.

6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts - 116,942
Trade creditors 15,185 14,416
Taxation and social security 317,486 254,311
Other creditors 213,931 200,990
546,602 586,659

7. Deferred tax
£
Balance at 1 April 2022 (486 )
Provided during year (890 )
Balance at 31 March 2023 (1,376 )

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
8 Ordinary £1 8 8