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REGISTERED NUMBER: 07152841 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

KIRSOPP BUILDERS LIMITED

KIRSOPP BUILDERS LIMITED (REGISTERED NUMBER: 07152841)

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


KIRSOPP BUILDERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: T Kirsopp
B Kirsopp





REGISTERED OFFICE: 21 Hollowgate
Rotherham
South Yorkshire
S60 2LE





REGISTERED NUMBER: 07152841 (England and Wales)





ACCOUNTANTS: Drury & Co
Accountants & Business Advisors
21 Hollowgate
Rotherham
South Yorkshire
S60 2LE

KIRSOPP BUILDERS LIMITED (REGISTERED NUMBER: 07152841)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,821 41,776

CURRENT ASSETS
Stocks 5 719,693 191,000
Debtors 6 47,416 10,646
Cash at bank 70,047 187,213
837,156 388,859
CREDITORS
Amounts falling due within one year 7 238,981 233,739
NET CURRENT ASSETS 598,175 155,120
TOTAL ASSETS LESS CURRENT
LIABILITIES

645,996

196,896

CREDITORS
Amounts falling due after more than one
year

8

565,835

116,825
NET ASSETS 80,161 80,071

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 80,061 79,971
SHAREHOLDERS' FUNDS 80,161 80,071

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.

KIRSOPP BUILDERS LIMITED (REGISTERED NUMBER: 07152841)

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 Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





T Kirsopp - Director


KIRSOPP BUILDERS LIMITED (REGISTERED NUMBER: 07152841)

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


1. STATUTORY INFORMATION

Kirsopp 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 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 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
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

KIRSOPP BUILDERS LIMITED (REGISTERED NUMBER: 07152841)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2022 35,981 39,565 75,546
Additions - 36,288 36,288
Disposals - (30,705 ) (30,705 )
At 28 February 2023 35,981 45,148 81,129
DEPRECIATION
At 1 March 2022 13,757 20,013 33,770
Charge for year 3,330 9,641 12,971
Eliminated on disposal - (13,433 ) (13,433 )
At 28 February 2023 17,087 16,221 33,308
NET BOOK VALUE
At 28 February 2023 18,894 28,927 47,821
At 28 February 2022 22,224 19,552 41,776

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2022 30,705
Additions 36,288
Disposals (30,705 )
At 28 February 2023 36,288
DEPRECIATION
At 1 March 2022 13,433
Charge for year 9,072
Eliminated on disposal (13,433 )
At 28 February 2023 9,072
NET BOOK VALUE
At 28 February 2023 27,216
At 28 February 2022 17,272

KIRSOPP BUILDERS LIMITED (REGISTERED NUMBER: 07152841)

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


5. STOCKS
2023 2022
£    £   
Work-in-progress 719,693 191,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,126 -
Amounts owed by participating interests 6,867 6,867
Other debtors 32,423 3,779
47,416 10,646

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 3,130 4,806
Trade creditors 60,500 40,370
Amounts owed to participating interests 5,778 5,778
Taxation and social security 35,804 37,849
Other creditors 133,769 144,936
238,981 233,739

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 22,718 17,043
Other creditors 543,117 99,782
565,835 116,825

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the reporting date, the company was indebted to the directors in the sum of £78,210. (2021: £80,377)

There are no formal repayment terms attached to this loan and interest is not being charged.