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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

ASBESTOS CONTRACTING LIMITED

ASBESTOS CONTRACTING LIMITED (REGISTERED NUMBER: 08077781)






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


ASBESTOS CONTRACTING LIMITED

COMPANY INFORMATION
For The Year Ended 30 June 2023







DIRECTORS: Mr R P Greening
Mr S Davies





REGISTERED OFFICE: Unit 1, Shapwick House
Shapwick Road
Poole
Dorset
BH15 4AP





REGISTERED NUMBER: 08077781 (England and Wales)






ASBESTOS CONTRACTING LIMITED (REGISTERED NUMBER: 08077781)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 93,655 120,687
93,655 120,687

CURRENT ASSETS
Stocks - 380
Debtors 6 260,724 344,118
Cash at bank 69,829 21,065
330,553 365,563
CREDITORS
Amounts falling due within one year 7 233,710 223,622
NET CURRENT ASSETS 96,843 141,941
TOTAL ASSETS LESS CURRENT
LIABILITIES

190,498

262,628

CREDITORS
Amounts falling due after more than one year 8 (73,581 ) (121,706 )

PROVISIONS FOR LIABILITIES (22,054 ) (46,540 )
NET ASSETS 94,863 94,382

CAPITAL AND RESERVES
Called up share capital 10 25,000 25,000
Retained earnings 69,863 69,382
SHAREHOLDERS' FUNDS 94,863 94,382

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 15 January 2024 and were signed on its behalf by:





Mr R P Greening - Director


ASBESTOS CONTRACTING LIMITED (REGISTERED NUMBER: 08077781)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2023

1. STATUTORY INFORMATION

Asbestos Contracting 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 represents invoiced sales of work completed, excluding value added tax.

Patents, licences and trademarks
Patents, licences and trademarks have been amortised over a period of two years which reflects the period over which the entity expects to derive economic benefit from the intangible assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stock and work in progress is valued at the lower of cost or net realisable value, after making allowance for obsolete and slow moving stock.

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.

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 15 (2022 - 15 ) .

ASBESTOS CONTRACTING LIMITED (REGISTERED NUMBER: 08077781)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023

4. INTANGIBLE FIXED ASSETS
Patents,
licence
and
trademarks
£   
COST
At 1 July 2022
and 30 June 2023 50,000
AMORTISATION
At 1 July 2022
and 30 June 2023 50,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 317,333
Disposals (4,300 )
At 30 June 2023 313,033
DEPRECIATION
At 1 July 2022 196,646
Charge for year 25,870
Eliminated on disposal (3,138 )
At 30 June 2023 219,378
NET BOOK VALUE
At 30 June 2023 93,655
At 30 June 2022 120,687


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 65,390 81,684
Amounts owed by group companies 148,555 231,689
Other debtors 46,779 30,745
260,724 344,118

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 30,000 30,000
Hire purchase contracts 18,126 18,703
Trade creditors 78,623 83,151
Taxation and social security 94,606 62,211
Other creditors 12,355 29,557
233,710 223,622

ASBESTOS CONTRACTING LIMITED (REGISTERED NUMBER: 08077781)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 57,500 87,500
Hire purchase contracts 16,081 34,206
73,581 121,706

9. SECURED DEBTS

Bank loans are secured by way of a fixed and floating charge over the company's assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
25,000 Ordinary £1 25,000 25,000

11. OTHER FINANCIAL COMMITMENTS

The company has provided a guarantee in respect of the bank loan contained within its parent company, South England Holdings Limited. The loan balance outstanding at 30 June 2023 amounted to £62,149 (2022 £71,066).