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REGISTERED NUMBER: 01542987 (England and Wales)















Unaudited Financial Statements

For The Year Ended 28 February 2023

for

H & V Building Services Ltd

H & V Building Services Ltd (Registered number: 01542987)

Contents of the Financial Statements
For The Year Ended 28 February 2023










Page

Company Information 1

Chartered Certified Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


H & V Building Services Ltd

Company Information
For The Year Ended 28 February 2023







DIRECTORS: J E King
W King
Mrs A King
Mrs G King





REGISTERED OFFICE: C/O Lee Christian & Co Ltd
Suite 222 Cuffley Point
Cuffley Place, Sopers Road
Cuffley
Hertfordshire
EN6 4RY





REGISTERED NUMBER: 01542987 (England and Wales)





ACCOUNTANTS: Lee Christian & Co Ltd
Chartered Certified Accountants
Suite 222 Cuffley Point
Cuffley Place
Sopers Road
Cuffley
Hertfordshire
EN6 4RY

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
H & V Building Services Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of H & V Building Services Ltd for the year ended 28 February 2023 which comprise the Statement of Income and Retained Earnings, 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 http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of H & V Building Services Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of H & V Building Services Ltd and state those matters that we have agreed to state to the Board of Directors of H & V Building Services Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that H & V Building Services Ltd 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 profit of H & V Building Services Ltd. You consider that H & V Building Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of H & V Building Services Ltd. 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.






Lee Christian & Co Ltd
Chartered Certified Accountants
Suite 222 Cuffley Point
Cuffley Place
Sopers Road
Cuffley
Hertfordshire
EN6 4RY


8 November 2023

H & V Building Services Ltd (Registered number: 01542987)

Statement of Financial Position
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 22,139 12,924
Property, plant and equipment 6 622,574 635,309
644,713 648,233

CURRENT ASSETS
Inventories 1,804,070 996,102
Debtors 7 3,220,851 2,873,609
Cash at bank and in hand 88,787 1,302,809
5,113,708 5,172,520
CREDITORS
Amounts falling due within one year 8 1,074,627 1,171,717
NET CURRENT ASSETS 4,039,081 4,000,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,683,794

4,649,036

PROVISIONS FOR LIABILITIES 3,271 5,032
NET ASSETS 4,680,523 4,644,004

CAPITAL AND RESERVES
Called up share capital 9 10,300 10,300
Retained earnings 4,670,223 4,633,704
SHAREHOLDERS' FUNDS 4,680,523 4,644,004

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

H & V Building Services Ltd (Registered number: 01542987)

Statement of Financial Position - continued
28 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:





W King - Director


H & V Building Services Ltd (Registered number: 01542987)

Notes to the Financial Statements
For The Year Ended 28 February 2023


1. STATUTORY INFORMATION

H & V Building Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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 at the fair value of the consideration received or receivable and represents amounts receivable for services rendered stated net of discounts, other sales taxes and value added tax.

Revenue arises from an increase in the value of work performed on construction contracts and on the value of service provided during the year. Where the outcome of a long term contract can be estimated reliably and it is probable that the contract will be profitable, revenue and costs are recognised by reference to the stage of completion of the contract activity at the statement of financial position date. Stage of completion is assessed by reference to proportion of contract costs incurred for the work performed to date relative to the estimated total costs.

A variation is an instruction by the customer for a change in the scope of the work to be performed under the contract. Variations are included in contract revenue when it is probable that the customer will approve the variation and the related adjustment to the contract price can be measured reliably.

A claim is an amount that the contractors seeks to collect from the customer as reimbursement for costs whose inclusion in the contract price is disputed, and may arise from , for example, delays caused by the customer, errors in specification or design and disputed variations in contract work. Claims are included in contract revenue when negotiations with the customer have reached an advanced stage such that it is probable that the customer will accept the claim and the amount of the claim can be measured reliably.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Construction work in progress comprises the cost incurred on contracts plus an appropriate proportion of overheads and attributable profit. Profits is recognised on a percentage completion basis when the outcome of a contract or project can be reasonable foreseen, provision is made in full for estimated losses. Where the outcome of a contract cannot be reasonably foreseen, profit is taken on completion. Remedial provisions are made in full for any anticipated remediation work.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs is being amortised evenly over its estimated useful life of five years.

H & V Building Services Ltd (Registered number: 01542987)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2023


3. ACCOUNTING POLICIES - continued

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 - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in
circumstances indicate that the carrying value may not be recoverable.

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognised in the profit and loss account and included in the other operating income.

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 profit and loss.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant, property and equipment are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Inventories are also assessed for impairment at each reporting date. The carrying amount of each item of inventory, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of inventory or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


H & V Building Services Ltd (Registered number: 01542987)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2023


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

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.

Creditors
Short term trade 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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense in the period in which they are incurred.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

H & V Building Services Ltd (Registered number: 01542987)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2023


5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2022 16,155
Additions 15,558
At 28 February 2023 31,713
AMORTISATION
At 1 March 2022 3,231
Charge for year 6,343
At 28 February 2023 9,574
NET BOOK VALUE
At 28 February 2023 22,139
At 28 February 2022 12,924

6. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2022 563,784 145,312 48,939 19,995 778,030
Additions - 513 2,569 - 3,082
Disposals - - (323 ) - (323 )
At 28 February 2023 563,784 145,825 51,185 19,995 780,789
DEPRECIATION
At 1 March 2022 - 106,662 21,600 14,459 142,721
Charge for year - 9,791 4,459 1,384 15,634
Eliminated on disposal - - (140 ) - (140 )
At 28 February 2023 - 116,453 25,919 15,843 158,215
NET BOOK VALUE
At 28 February 2023 563,784 29,372 25,266 4,152 622,574
At 28 February 2022 563,784 38,650 27,339 5,536 635,309

Included in cost of land and buildings is freehold land of £ 563,784 (2022 - £ 563,784 ) which is not depreciated.

H & V Building Services Ltd (Registered number: 01542987)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,304,648 1,862,867
Other debtors 223,469 299,174
Directors' current accounts 656,198 675,291
Prepayments 36,536 36,277
3,220,851 2,873,609

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 762,661 600,484
Tax 48,403 77,306
Social security and other taxes 24,778 21,448
VAT 228,907 358,859
Other creditors - 108,324
Accrued expenses 9,878 5,296
1,074,627 1,171,717

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000
150 Ordinary A £1 150 150
150 Ordinary B £1 150 150
10,300 10,300

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made an advance of £130,907 to the directors of the company. The directors have repaid £150,000. Interest has been charged on these loans by the company at the average official rate of interest. The amount outstanding at the year-end was £656,198 (2022 £675,291).

11. LIABILITY LIMITATION AGREEMENT WITH THE ACCOUNTANT

The company has entered into a liability limitation agreement with the accountants Lee Christian & Co Limited in respect of advice given and the preparation of any financial statements. The liability agreement strictly restricts the liability of Lee Christian & Co Limited solely to the H & V Building Services Limited (the company) and further restricts the liability of Lee Christian & Co Limited to the company in accordance with the Lee Christian & Co Limited engagement letter and terms and conditions.