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REGISTERED NUMBER: 10719561 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 April 2023

for

I&B CONSTRUCTION SERVICES LIMITED

I&B CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 10719561)

Contents of the Financial Statements
for the year ended 30 April 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


I&B CONSTRUCTION SERVICES LIMITED

Company Information
for the year ended 30 April 2023







Director: B Zamfirov





Registered office: Unit E, The Generator Business Centre
95 Miles Road
Mitcham
Surrey
CR4 3FH





Registered number: 10719561 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
I&B Construction Services Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of I&B Construction Services Limited for the year ended 30 April 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of I&B Construction Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of I&B Construction Services Limited and state those matters that we have agreed to state to the director of I&B Construction Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than I&B Construction Services Limited and its director for our work or for this report.

It is your duty to ensure that I&B Construction Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of I&B Construction Services Limited. You consider that I&B Construction Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of I&B Construction Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cooper Parry Advisory Limited
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA


16 February 2024

I&B CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 10719561)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 57,982 82,631

Current assets
Debtors 5 243,962 420,488
Cash at bank and in hand 46,016 6,694
289,978 427,182
Creditors
Amounts falling due within one year 6 562,782 508,504
Net current liabilities (272,804 ) (81,322 )
Total assets less current liabilities (214,822 ) 1,309

Creditors
Amounts falling due after more than one
year

7

(54,375

)

(80,527

)

Provisions for liabilities 9 - (20,545 )
Net liabilities (269,197 ) (99,763 )

Capital and reserves
Called up share capital 10 100 100
Retained earnings (269,297 ) (99,863 )
Shareholders' funds (269,197 ) (99,763 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

I&B CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 10719561)

Balance Sheet - continued
30 April 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 February 2024 and were signed by:





B Zamfirov - Director


I&B CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 10719561)

Notes to the Financial Statements
for the year ended 30 April 2023


1. Statutory information

I&B Construction Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

I&B CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 10719561)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

I&B CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 10719561)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


3. Employees and directors

The average number of employees during the year was 10 (2022 - 15 ) .

4. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 May 2022 14,093 2,018 155,822 1,093 173,026
Additions 317 - - 724 1,041
Disposals - - (6,773 ) - (6,773 )
At 30 April 2023 14,410 2,018 149,049 1,817 167,294
Depreciation
At 1 May 2022 9,548 1,576 78,280 991 90,395
Charge for year 2,607 221 18,324 292 21,444
Eliminated on disposal - - (2,527 ) - (2,527 )
At 30 April 2023 12,155 1,797 94,077 1,283 109,312
Net book value
At 30 April 2023 2,255 221 54,972 534 57,982
At 30 April 2022 4,545 442 77,542 102 82,631

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 May 2022 139,844
Disposals (3,398 )
At 30 April 2023 136,446
Depreciation
At 1 May 2022 66,141
Charge for year 17,576
At 30 April 2023 83,717
Net book value
At 30 April 2023 52,729
At 30 April 2022 73,703

I&B CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 10719561)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 115,467 154,305
Amounts recoverable on contract 70,280 133,677
Other debtors 58,215 132,506
243,962 420,488

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 10,000 9,167
Hire purchase contracts 16,910 15,611
Trade creditors 180,238 195,840
Taxation and social security 41,765 18,503
Other creditors 313,869 269,383
562,782 508,504

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 20,833 31,667
Hire purchase contracts 33,542 48,860
54,375 80,527

8. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 50,452 64,471

9. Provisions for liabilities
2023 2022
£    £   
Deferred tax
Accelerated capital allowances - 20,545

I&B CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 10719561)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


9. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 May 2022 20,545
Accelerated capital allowances (9,529 )
Losses carried forward (11,016 )
Balance at 30 April 2023 -

10. Called up share capital

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

11. Director's advances, credits and guarantees

At 30 April 2023 the director owed the Company nil (2022 £57,743).

12. Related party disclosures

Personal guarantees have been given by the shareholders in respect of the hire purchase contracts.