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REGISTERED NUMBER: 04352436 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Kingston Building Contractors Limited

Kingston Building Contractors Limited (Registered number: 04352436)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Kingston Building Contractors Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: S T Kingston
Mrs N A Kingston
G James





SECRETARY: Mrs N A Kingston





REGISTERED OFFICE: Hartnoll Business Centre
Post Hill
Tiverton
Devon
EX16 4NG





REGISTERED NUMBER: 04352436 (England and Wales)

Kingston Building Contractors Limited (Registered number: 04352436)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 233,542 171,606
Investment property 5 550,000 -
783,542 171,606

CURRENT ASSETS
Stocks 8,795 5,862
Debtors 6 1,572,450 2,094,233
Cash at bank 657,671 207,988
2,238,916 2,308,083
CREDITORS
Amounts falling due within one year 7 920,078 1,073,713
NET CURRENT ASSETS 1,318,838 1,234,370
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,102,380

1,405,976

CREDITORS
Amounts falling due after more than one
year

8

(178,783

)

(251,888

)

PROVISIONS FOR LIABILITIES (81,980 ) (24,017 )
NET ASSETS 1,841,617 1,130,071

CAPITAL AND RESERVES
Called up share capital 201 201
Retained earnings 1,841,416 1,129,870
1,841,617 1,130,071

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

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

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 7 March 2024 and were signed on its behalf by:



S T Kingston - Director


Kingston Building Contractors Limited (Registered number: 04352436)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Kingston Building Contractors 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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Improvements to property - 10% on straight line basis
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on straight line basis

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Kingston Building Contractors Limited (Registered number: 04352436)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 28 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2022 21,227 117,547 6,179
Additions - 40,117 -
Disposals - (78,711 ) -
At 30 June 2023 21,227 78,953 6,179
DEPRECIATION
At 1 July 2022 8,191 71,113 4,748
Charge for year 2,123 11,032 215
Eliminated on disposal - (59,750 ) -
At 30 June 2023 10,314 22,395 4,963
NET BOOK VALUE
At 30 June 2023 10,913 56,558 1,216
At 30 June 2022 13,036 46,434 1,431

Kingston Building Contractors Limited (Registered number: 04352436)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 302,172 22,538 469,663
Additions 101,417 5,602 147,136
Disposals (74,805 ) (16,757 ) (170,273 )
At 30 June 2023 328,784 11,383 446,526
DEPRECIATION
At 1 July 2022 193,550 20,455 298,057
Charge for year 43,102 1,873 58,345
Eliminated on disposal (66,911 ) (16,757 ) (143,418 )
At 30 June 2023 169,741 5,571 212,984
NET BOOK VALUE
At 30 June 2023 159,043 5,812 233,542
At 30 June 2022 108,622 2,083 171,606

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2022 115,142
Additions 72,343
At 30 June 2023 187,485
DEPRECIATION
At 1 July 2022 45,107
Charge for year 33,470
At 30 June 2023 78,577
NET BOOK VALUE
At 30 June 2023 108,908
At 30 June 2022 70,035

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 380,000
Revaluations 170,000
At 30 June 2023 550,000
NET BOOK VALUE
At 30 June 2023 550,000

Included in fair value of investment property is freehold land of £ 128,109 which is not depreciated.

Kingston Building Contractors Limited (Registered number: 04352436)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. INVESTMENT PROPERTY - continued

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2023 170,000
Cost 380,000
550,000

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 123,281 145,742
Prepayments and accrued income 906,399 1,448,491
1,029,680 1,594,233

Amounts falling due after more than one year:
Amounts owed by group undertakings 52,770 -
Amts owed by related party 490,000 500,000
542,770 500,000

Aggregate amounts 1,572,450 2,094,233

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 37,801 30,897
Trade creditors 405,417 613,243
Tax 150,645 43,976
Social security and other taxes 31,687 29,976
VAT 200,964 242,651
Other creditors 3,173 14,624
Directors' current accounts 73,406 81,996
Accrued expenses 6,985 6,350
920,078 1,073,713

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 9,167 19,167
Hire purchase contracts 16,195 10,371
Amounts owed to group undertakings 143,421 212,350
178,783 251,888

9. RELATED PARTY DISCLOSURES

Included within other creditors is £73,406 (2022: £81,996) owed to the directors. This has no set repayment terms and is not subject to interest.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S T Kingston and Mrs N A Kingston.