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REGISTERED NUMBER: 08530851 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

HYSPEC CARPENTRY AND CONSTRUCTION LTD

HYSPEC CARPENTRY AND CONSTRUCTION LTD (REGISTERED NUMBER: 08530851)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HYSPEC CARPENTRY AND CONSTRUCTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 May 2023







DIRECTORS: P Dennis
A Groves





REGISTERED OFFICE: 9 Beauchamp Road
Wootton
Bedford
Bedfordshire
MK43 9JP





REGISTERED NUMBER: 08530851 (England and Wales)





ACCOUNTANTS: GB Accounting Solutions Limited
Building 115
Bedford Technology Park
Thurleigh
Bedford
Bedfordshire
MK44 2YA

HYSPEC CARPENTRY AND CONSTRUCTION LTD (REGISTERED NUMBER: 08530851)

BALANCE SHEET
31 May 2023

31.5.23 31.5.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 64,237 1,975

CURRENT ASSETS
Debtors 5 3,894 86,664
Cash at bank and in hand 180,908 191,402
184,802 278,066
CREDITORS
Amounts falling due within one year 6 (33,909 ) (49,280 )
NET CURRENT ASSETS 150,893 228,786
TOTAL ASSETS LESS CURRENT
LIABILITIES

215,130

230,761

CREDITORS
Amounts falling due after more than one year 7 (67,929 ) (36,667 )
NET ASSETS 147,201 194,094

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 8 147,199 194,092
SHAREHOLDERS' FUNDS 147,201 194,094

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

HYSPEC CARPENTRY AND CONSTRUCTION LTD (REGISTERED NUMBER: 08530851)

BALANCE SHEET - continued
31 May 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 Board of Directors and authorised for issue on 20 November 2023 and were signed on its behalf by:




P Dennis - Director



A Groves - Director


HYSPEC CARPENTRY AND CONSTRUCTION LTD (REGISTERED NUMBER: 08530851)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 May 2023


1. STATUTORY INFORMATION

Hyspec Carpentry And Construction 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

HYSPEC CARPENTRY AND CONSTRUCTION LTD (REGISTERED NUMBER: 08530851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 May 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 4,272
Additions 83,675
At 31 May 2023 87,947
DEPRECIATION
At 1 June 2022 2,297
Charge for year 21,413
At 31 May 2023 23,710
NET BOOK VALUE
At 31 May 2023 64,237
At 31 May 2022 1,975

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 3,894 86,664

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 13,030 -
Taxation and social security 5,120 32,514
Other creditors 5,759 6,766
33,909 49,280

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 26,667 36,667
Hire purchase contracts 41,262 -
67,929 36,667

HYSPEC CARPENTRY AND CONSTRUCTION LTD (REGISTERED NUMBER: 08530851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 May 2023


8. RESERVES
Retained
earnings
£   

At 1 June 2022 194,092
Profit for the year 83,107
Dividends (130,000 )
At 31 May 2023 147,199

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties were the directors, Mr P. Dennis and Mr A. Groves by virtue of the fact that they each held a 50% interest in the ordinary share capital of the company.