Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-312022-08-01falseThe prinicpal activity was that of demolition and salvage contractors.33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03219935 2022-08-01 2023-07-31 03219935 2021-08-01 2022-07-31 03219935 2023-07-31 03219935 2022-07-31 03219935 c:Director1 2022-08-01 2023-07-31 03219935 d:Buildings 2022-08-01 2023-07-31 03219935 d:Buildings 2023-07-31 03219935 d:Buildings 2022-07-31 03219935 d:Buildings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 03219935 d:PlantMachinery 2022-08-01 2023-07-31 03219935 d:PlantMachinery 2023-07-31 03219935 d:PlantMachinery 2022-07-31 03219935 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 03219935 d:MotorVehicles 2022-08-01 2023-07-31 03219935 d:MotorVehicles 2023-07-31 03219935 d:MotorVehicles 2022-07-31 03219935 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 03219935 d:FurnitureFittings 2022-08-01 2023-07-31 03219935 d:FurnitureFittings 2023-07-31 03219935 d:FurnitureFittings 2022-07-31 03219935 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 03219935 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 03219935 d:Goodwill 2023-07-31 03219935 d:Goodwill 2022-07-31 03219935 d:CurrentFinancialInstruments 2023-07-31 03219935 d:CurrentFinancialInstruments 2022-07-31 03219935 d:Non-currentFinancialInstruments 2023-07-31 03219935 d:Non-currentFinancialInstruments 2022-07-31 03219935 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 03219935 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 03219935 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 03219935 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 03219935 d:ShareCapital 2023-07-31 03219935 d:ShareCapital 2022-07-31 03219935 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-07-31 03219935 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-07-31 03219935 c:FRS102 2022-08-01 2023-07-31 03219935 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 03219935 c:FullAccounts 2022-08-01 2023-07-31 03219935 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 03219935 d:HirePurchaseContracts d:WithinOneYear 2023-07-31 03219935 d:HirePurchaseContracts d:WithinOneYear 2022-07-31 03219935 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-07-31 03219935 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-07-31 03219935 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 03219935









SALISBURY DEMOLITION LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
SALISBURY DEMOLITION LTD
REGISTERED NUMBER: 03219935

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
10,379
3,020

  
10,379
3,020

Current assets
  

Stocks
 6 
55,200
51,502

Debtors: amounts falling due within one year
 7 
2,517
1,964

Cash at bank and in hand
 8 
7,215
15,665

  
64,932
69,131

Creditors: amounts falling due within one year
 9 
(71,545)
(72,149)

Net current liabilities
  
 
 
(6,613)
 
 
(3,018)

Total assets less current liabilities
  
3,766
2

Creditors: amounts falling due after more than one year
 10 
(3,764)
-

  

Net assets
  
2
2


Capital and reserves
  

Called up share capital 
  
2
2

  
2
2


Page 1

 
SALISBURY DEMOLITION LTD
REGISTERED NUMBER: 03219935
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 March 2024.





................................................
P R Barker
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
SALISBURY DEMOLITION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Salisbury Demolition Limited is a private company limited by share capital, incorporated in England and Wales. The principal activity of the Company was that of demolition and salvage contractors.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
SALISBURY DEMOLITION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
SALISBURY DEMOLITION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance and straight line basis.

Depreciation is provided on the following basis:

Freehold property
-
5 Years Straight line
Plant and machinery
-
20% Reducing balance
Motor vehicles
-
20% Reducing balance
Fixtures and fittings
-
20% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

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.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term 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.

Page 5

 
SALISBURY DEMOLITION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
SALISBURY DEMOLITION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Intangible assets




Goodwill

£



Cost


At 1 August 2022
5,160



At 31 July 2023

5,160



Amortisation


At 1 August 2022
5,160



At 31 July 2023

5,160



Net book value



At 31 July 2023
-



At 31 July 2022
-



Page 7

 
SALISBURY DEMOLITION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 August 2022
6,440
19,247
3,945
5,613
35,245


Additions
-
9,950
-
-
9,950



At 31 July 2023

6,440
29,197
3,945
5,613
45,195



Depreciation


At 1 August 2022
6,440
17,110
3,728
4,947
32,225


Charge for the year on owned assets
-
2,416
43
132
2,591



At 31 July 2023

6,440
19,526
3,771
5,079
34,816



Net book value



At 31 July 2023
-
9,671
174
534
10,379



At 31 July 2022
-
2,137
217
666
3,020


6.


Stocks

2023
2022
£
£

Raw materials and consumables
55,200
51,502

55,200
51,502


Page 8

 
SALISBURY DEMOLITION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Debtors

2023
2022
£
£


Trade debtors
950
1,102

Other debtors
931
315

Prepayments and accrued income
636
547

2,517
1,964



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
7,215
15,665

7,215
15,665



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
388
-

Corporation tax
-
987

Other taxation and social security
3,592
4,961

Obligations under finance lease and hire purchase contracts
3,947
-

Other creditors
62,223
64,871

Accruals and deferred income
1,395
1,330

71,545
72,149



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
3,764
-

3,764
-


Page 9

 
SALISBURY DEMOLITION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
3,947
-

Between 1-5 years
3,764
-

7,711
-


12.


Financial instrument

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
7,215
15,665




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,462 (2022 - £2,092). Contributions payable by the Company to the fund were all paid up to date at the balance sheet date.


14.


Related party transactions

During the year the director, Mr P R Barker, received rental income of £6,459 (2022 - £6,459) from the Company.


15.


Controlling party

The Company is controlled by the director, Mr P R Barker, by virtue of his shareholding as described in the director's report. 

 
Page 10