5 false false false false false false false false false false true false false false false false false No description of principal activity 2021-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08308945 2021-12-01 2022-11-30 08308945 2022-11-30 08308945 2021-11-30 08308945 2020-12-01 2021-11-30 08308945 2021-11-30 08308945 2020-11-30 08308945 core:PlantMachinery 2021-12-01 2022-11-30 08308945 core:FurnitureFittings 2021-12-01 2022-11-30 08308945 bus:RegisteredOffice 2021-12-01 2022-11-30 08308945 bus:LeadAgentIfApplicable 2021-12-01 2022-11-30 08308945 bus:Director1 2021-12-01 2022-11-30 08308945 bus:Director2 2021-12-01 2022-11-30 08308945 bus:Director3 2021-12-01 2022-11-30 08308945 core:PlantMachinery 2021-11-30 08308945 core:FurnitureFittings 2021-11-30 08308945 core:PlantMachinery 2022-11-30 08308945 core:FurnitureFittings 2022-11-30 08308945 core:WithinOneYear 2022-11-30 08308945 core:WithinOneYear 2021-11-30 08308945 core:AfterOneYear 2022-11-30 08308945 core:AfterOneYear 2021-11-30 08308945 core:ShareCapital 2022-11-30 08308945 core:ShareCapital 2021-11-30 08308945 core:RetainedEarningsAccumulatedLosses 2022-11-30 08308945 core:RetainedEarningsAccumulatedLosses 2021-11-30 08308945 core:PlantMachinery 2021-11-30 08308945 core:FurnitureFittings 2021-11-30 08308945 bus:SmallEntities 2021-12-01 2022-11-30 08308945 bus:AuditExemptWithAccountantsReport 2021-12-01 2022-11-30 08308945 bus:SmallCompaniesRegimeForAccounts 2021-12-01 2022-11-30 08308945 bus:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 08308945 bus:FullAccounts 2021-12-01 2022-11-30
COMPANY REGISTRATION NUMBER: 08308945
S 3 Contracts Limited
Filleted Unaudited Financial Statements
30 November 2022
S 3 Contracts Limited
Financial Statements
Year ended 30 November 2022
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 7
S 3 Contracts Limited
Officers and Professional Advisers
The board of directors Mr P Wakeling
- Director
Mr S Matthewson
- Director
Mr A Watkin
- Director
Registered office
Alexandra House
123 Priestsic Road
Sutton-in-Ashfield
Nottinghamshire
NG17 4EA
Accountants
Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton in Ashfield
Nottinghamshire
NG17 4EA
S 3 Contracts Limited
Statement of Financial Position
30 November 2022
2022
2021
Note
£
£
Fixed assets
Tangible assets
5
962
1,133
Current assets
Stocks
31,251
32,551
Debtors
6
62,481
63,253
Cash at bank and in hand
19,062
24,239
---------
---------
112,794
120,043
Creditors: amounts falling due within one year
7
75,521
72,998
---------
---------
Net current assets
37,273
47,045
--------
--------
Total assets less current liabilities
38,235
48,178
Creditors: amounts falling due after more than one year
8
32,617
45,000
Provisions
183
215
--------
--------
Net assets
5,435
2,963
--------
--------
Capital and reserves
Called up share capital
99
99
Profit and loss account
5,336
2,864
-------
-------
Shareholders funds
5,435
2,963
-------
-------
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 30 November 2022 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 .
S 3 Contracts Limited
Statement of Financial Position (continued)
30 November 2022
These financial statements were approved by the board of directors and authorised for issue on 4 March 2024 , and are signed on behalf of the board by:
Mr P Wakeling
Director
Company registration number: 08308945
S 3 Contracts Limited
Notes to the Financial Statements
Year ended 30 November 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Alexandra House, 123 Priestsic Road, Sutton-in-Ashfield, Nottinghamshire, NG17 4EA.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, 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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
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
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
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.
Debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2021: 5 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 December 2021 and 30 November 2022
4,600
300
4,900
-------
----
-------
Depreciation
At 1 December 2021
3,532
235
3,767
Charge for the year
161
10
171
-------
----
-------
At 30 November 2022
3,693
245
3,938
-------
----
-------
Carrying amount
At 30 November 2022
907
55
962
-------
----
-------
At 30 November 2021
1,068
65
1,133
-------
----
-------
6. Debtors
2022
2021
£
£
Trade debtors
62,481
63,253
--------
--------
7. Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
11,180
5,000
Trade creditors
1,199
757
Corporation tax
26,181
24,370
Social security and other taxes
32,009
31,284
Other creditors
4,952
11,587
--------
--------
75,521
72,998
--------
--------
8. Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
32,617
45,000
--------
--------
9. Directors' advances, credits and guarantees
At the balance sheet date, the directors were owed £203 (2021: £8,506) by the company.