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REGISTERED NUMBER: 01544859 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

SOUTH WOODHAM BUILDERS LIMITED

SOUTH WOODHAM BUILDERS LIMITED (REGISTERED NUMBER: 01544859)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTH WOODHAM BUILDERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: R Wells





REGISTERED OFFICE: Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA





REGISTERED NUMBER: 01544859 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

SOUTH WOODHAM BUILDERS LIMITED (REGISTERED NUMBER: 01544859)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,000
Tangible assets 5 17,610 23,442
17,610 25,442

CURRENT ASSETS
Stocks 61,750 38,833
Debtors 6 - 165
61,750 38,998
CREDITORS
Amounts falling due within one year 7 98,501 79,273
NET CURRENT LIABILITIES (36,751 ) (40,275 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(19,141

)

(14,833

)

CREDITORS
Amounts falling due after more than one
year

8

34,716

39,813
NET LIABILITIES (53,857 ) (54,646 )

CAPITAL AND RESERVES
Called up share capital 10 102 102
Retained earnings (53,959 ) (54,748 )
SHAREHOLDERS' FUNDS (53,857 ) (54,646 )

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 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.

SOUTH WOODHAM BUILDERS LIMITED (REGISTERED NUMBER: 01544859)

BALANCE SHEET - 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 November 2023 and were signed by:





R Wells - Director


SOUTH WOODHAM BUILDERS LIMITED (REGISTERED NUMBER: 01544859)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

South Woodham Builders Limited 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.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

SOUTH WOODHAM BUILDERS LIMITED (REGISTERED NUMBER: 01544859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 53,026
AMORTISATION
At 1 March 2022 51,026
Charge for year 2,000
At 28 February 2023 53,026
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 2,000

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2022
and 28 February 2023 5,256 94,646 99,902
DEPRECIATION
At 1 March 2022 4,965 71,495 76,460
Charge for year 44 5,788 5,832
At 28 February 2023 5,009 77,283 82,292
NET BOOK VALUE
At 28 February 2023 247 17,363 17,610
At 28 February 2022 291 23,151 23,442

SOUTH WOODHAM BUILDERS LIMITED (REGISTERED NUMBER: 01544859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2022
and 28 February 2023 35,683
DEPRECIATION
At 1 March 2022 24,392
Charge for year 2,823
At 28 February 2023 27,215
NET BOOK VALUE
At 28 February 2023 8,468
At 28 February 2022 11,291

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors and prepayments - 165

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 33,751 26,074
Hire purchase contracts 10,545 15,699
Trade creditors 7,404 7,748
Social security and other taxes 3,659 2,056
VAT 4,736 4,511
Other creditors and accruals 14,050 14,207
Pension control 108 108
Directors' current accounts 24,248 8,870
98,501 79,273

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 34,716 39,813

9. SECURED DEBTS

The hire purchase liability is secured against the assets to which they relate.

SOUTH WOODHAM BUILDERS LIMITED (REGISTERED NUMBER: 01544859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
102 Ordinary £1 102 102

11. GOING CONCERN

At 28 February 2023 the company had a net deficiency of assets of £53,857 (2022 - £54,646. The director undertakes to financially support the company until trading conditions improve and it is therefore deemed appropriate to prepare the financial statements on the going concern basis.