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Registration number: 06045498

Ingram Civil Engineering Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Ingram Civil Engineering Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Ingram Civil Engineering Ltd

Company Information

Directors

Mr K C Ingram

Mrs J A Ingram

Registered office

1 - 3 Chester Road
Neston
Cheshire
CH64 9PA

Accountants

Phillip Bates and Co Limited
Chartered Accountants
1 - 3 Chester Road
Neston
Cheshire
CH64 9PA

 

Ingram Civil Engineering Ltd

(Registration number: 06045498)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

11,615

19,474

Current assets

 

Stocks

5

49,574

40,147

Debtors

6

14,747

82,247

Cash at bank and in hand

 

8,541

20,075

 

72,862

142,469

Creditors: Amounts falling due within one year

7

(42,387)

(56,882)

Net current assets

 

30,475

85,587

Total assets less current liabilities

 

42,090

105,061

Creditors: Amounts falling due after more than one year

7

(27,943)

(38,178)

Provisions for liabilities

(1,392)

(2,797)

Net assets

 

12,755

64,086

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

12,655

63,986

Shareholders' funds

 

12,755

64,086

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 August 2023 and signed on its behalf by:
 

 

Ingram Civil Engineering Ltd

(Registration number: 06045498)
Balance Sheet as at 31 March 2023

.........................................
Mr K C Ingram
Director

 

Ingram Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 - 3 Chester Road
Neston
Cheshire
CH64 9PA
United Kingdom

The principal place of business is:
156 Milner Road
Heswall
Wirral
CH60 2SJ

These financial statements were authorised for issue by the Board on 23 August 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Ingram Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line basis

Office equipment

20% straight line basis

Motor vehicles

20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Ingram Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Ingram Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

17,082

4,423

31,428

52,933

Additions

-

573

-

573

At 31 March 2023

17,082

4,996

31,428

53,506

Depreciation

At 1 April 2022

8,641

4,415

20,403

33,459

Charge for the year

2,107

41

6,284

8,432

At 31 March 2023

10,748

4,456

26,687

41,891

Carrying amount

At 31 March 2023

6,334

540

4,741

11,615

At 31 March 2022

8,441

8

11,025

19,474

5

Stocks

2023
£

2022
£

Work in progress

18,100

37,147

Other inventories

31,474

3,000

49,574

40,147

6

Debtors

Current

2023
£

2022
£

Trade debtors

6,470

25,952

Other debtors

8,277

56,295

 

14,747

82,247

 

Ingram Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

12,662

11,050

Trade creditors

 

5,863

24,331

Taxation and social security

 

12,138

18,501

Accruals and deferred income

 

3,000

3,000

Other creditors

 

8,724

-

 

42,387

56,882

Creditors include net obligations under hire purchase contracts which are secured of £2,663 (2022 - £3,550).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

27,943

38,178

Creditors include net obligations under hire purchase contracts which are secured of £nil (2022 - £2,663).

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

27,943

35,515

Hire purchase contracts

-

2,663

27,943

38,178

 

Ingram Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

9,999

7,500

Hire purchase contracts

2,663

3,550

12,662

11,050

10

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr K C Ingram

Total of transactions

20,413

36,068

(52,273)

4,208

         
       

Mrs J A Ingram

Total of transactions

20,413

36,068

(52,273)

4,208

         
       

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

Mr K C Ingram

Total of transactions

14,351

72,348

(66,286)

20,413

         
       

Mrs J A Ingram

Total of transactions

14,351

72,348

(66,286)

20,413