6 false false false false false false false false false true false false false false false false 2022-06-01 Sage Accounts Production Advanced 2021 - FRS102_2021 6,832 656 6,176 xbrli:pure xbrli:shares iso4217:GBP NI063888 2022-06-01 2023-05-31 NI063888 2023-05-31 NI063888 2022-05-31 NI063888 2021-06-01 2022-05-31 NI063888 2022-05-31 NI063888 core:PlantMachinery 2022-06-01 2023-05-31 NI063888 core:MotorVehicles 2022-06-01 2023-05-31 NI063888 bus:Director1 2022-06-01 2023-05-31 NI063888 bus:Director2 2022-06-01 2023-05-31 NI063888 core:LandBuildings 2022-05-31 NI063888 core:PlantMachinery 2022-05-31 NI063888 core:MotorVehicles 2022-05-31 NI063888 core:LandBuildings 2023-05-31 NI063888 core:PlantMachinery 2023-05-31 NI063888 core:MotorVehicles 2023-05-31 NI063888 core:DeferredTaxation 2022-06-01 2023-05-31 NI063888 core:WithinOneYear 2023-05-31 NI063888 core:WithinOneYear 2022-05-31 NI063888 core:AfterOneYear 2023-05-31 NI063888 core:AfterOneYear 2022-05-31 NI063888 core:ShareCapital 2023-05-31 NI063888 core:ShareCapital 2022-05-31 NI063888 core:RevaluationReserve 2023-05-31 NI063888 core:RevaluationReserve 2022-05-31 NI063888 core:RetainedEarningsAccumulatedLosses 2023-05-31 NI063888 core:RetainedEarningsAccumulatedLosses 2022-05-31 NI063888 core:LandBuildings 2022-05-31 NI063888 core:PlantMachinery 2022-05-31 NI063888 core:MotorVehicles 2022-05-31 NI063888 core:DeferredTaxation 2022-05-31 NI063888 core:DeferredTaxation 2023-05-31 NI063888 bus:SmallEntities 2022-06-01 2023-05-31 NI063888 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 NI063888 bus:FullAccounts 2022-06-01 2023-05-31 NI063888 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 NI063888 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 NI063888 core:ComputerEquipment 2022-06-01 2023-05-31 NI063888 core:ComputerEquipment 2022-05-31 NI063888 core:ComputerEquipment 2023-05-31
COMPANY REGISTRATION NUMBER: NI063888
Moffitt & Robinson Construction Ltd
Filleted Unaudited Financial Statements
31 May 2023
Moffitt & Robinson Construction Ltd
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
804,623
808,742
Current assets
Stocks
16,136
52,778
Debtors
6
63,687
15,168
Cash at bank and in hand
943
219
--------
--------
80,766
68,165
Creditors: amounts falling due within one year
7
362,554
380,691
---------
---------
Net current liabilities
281,788
312,526
---------
---------
Total assets less current liabilities
522,835
496,216
Creditors: amounts falling due after more than one year
8
34,999
66,075
Provisions
Taxation including deferred tax
9
6,176
6,832
---------
---------
Net assets
481,660
423,309
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Revaluation reserve
85,815
85,815
Profit and loss account
394,845
336,494
---------
---------
Shareholders funds
481,660
423,309
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Moffitt & Robinson Construction Ltd
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 11 January 2024 , and are signed on behalf of the board by:
Mr Keith Robinson
Mr William Moffitt
Director
Director
Company registration number: NI063888
Moffitt & Robinson Construction Ltd
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 40 Blacksessiagh Road, Omagh, Co Tyrone, BT78 1SU. The principal activity of the company is the construction of property.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date. Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 6 ).
5. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 June 2022
772,784
114,508
56,950
13,973
958,215
Additions
930
6,000
6,930
Disposals
( 88)
( 88)
---------
---------
--------
--------
---------
At 31 May 2023
772,784
115,350
62,950
13,973
965,057
---------
---------
--------
--------
---------
Depreciation
At 1 June 2022
104,193
32,284
12,996
149,473
Charge for the year
2,809
7,666
567
11,042
Disposals
( 81)
( 81)
---------
---------
--------
--------
---------
At 31 May 2023
106,921
39,950
13,563
160,434
---------
---------
--------
--------
---------
Carrying amount
At 31 May 2023
772,784
8,429
23,000
410
804,623
---------
---------
--------
--------
---------
At 31 May 2022
772,784
10,315
24,666
977
808,742
---------
---------
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
60,794
12,362
Other debtors
2,893
2,806
--------
--------
63,687
15,168
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
88,792
90,068
Trade creditors
36,465
40,964
Social security and other taxes
23,501
17,703
Other creditors
213,796
231,956
---------
---------
362,554
380,691
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
34,999
65,415
Other creditors
660
--------
--------
34,999
66,075
--------
--------
9. Provisions
Deferred tax (note 10)
£
At 1 June 2022
6,832
Additions
( 656)
-------
At 31 May 2023
6,176
-------
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023
2022
£
£
Included in provisions (note 9)
6,176
6,832
-------
-------
11. Directors' advances, credits and guarantees
During the year the directors withdrew £2,580 from the company. The balance due to the directors at the 31 May 2023 was £161,105 (2022: £163,685).