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Registration number: 10949774

SDB CONSTRUCTION LTD

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 September 2023

 

SDB CONSTRUCTION LTD

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Abridged Financial Statements

9 to 13

iXBRL Detailed Profit and Loss Account

14 to 15

 

SDB CONSTRUCTION LTD

Company Information

Director

Ms L Malik

Registered office

124 City Road
London
EC1V 2NX

Accountants

Mawson Breskal & Co
6 Parkgate Avenue
Barnet
Herts
EN4 0NR

 

SDB CONSTRUCTION LTD

Director's Report for the Year Ended 30 September 2023

The director presents her report and the abridged financial statements for the year ended 30 September 2023.

Director of the company

The director who held office during the year was as follows:

Ms L Malik

Principal activity

The principal activity of the company is that of providing renovation services.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 22 March 2024 and signed on its behalf by:

.........................................
Ms L Malik
Director

   
     
 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
SDB CONSTRUCTION LTD
for the Year Ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SDB CONSTRUCTION LTD for the year ended 30 September 2023 as set out on pages 4 to 13 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 at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of SDB CONSTRUCTION LTD, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SDB CONSTRUCTION LTD and state those matters that we have agreed to state to the Board of Directors of SDB CONSTRUCTION LTD, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SDB CONSTRUCTION LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that SDB CONSTRUCTION LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SDB CONSTRUCTION LTD. You consider that SDB CONSTRUCTION LTD 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 accounts of SDB CONSTRUCTION LTD. 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 accounts.

......................................

Mawson Breskal & Co
6 Parkgate Avenue
Barnet
Herts
EN4 0NR

22 March 2024

 

SDB CONSTRUCTION LTD

Abridged Profit and Loss Account for the Year Ended 30 September 2023

Note

2023
£

2022
£

Gross profit

 

37,907

28,396

Administrative expenses

 

(10,655)

(11,023)

Other interest receivable and similar income

 

-

16

Interest payable and similar expenses

 

(1,529)

(1,051)

Profit before tax

4

25,723

16,338

Tax on profit

 

(63)

(4,098)

Profit for the financial year

 

25,660

12,240

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

SDB CONSTRUCTION LTD

Statement of Comprehensive Income for the Year Ended 30 September 2023

2023
£

2022
£

Profit for the year

25,660

12,240

Total comprehensive income for the year

25,660

12,240

 

SDB CONSTRUCTION LTD

(Registration number: 10949774)
Abridged Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

46,610

20,931

Current assets

 

Debtors

6

4,852

1,634

Cash at bank and in hand

 

12,656

65,001

 

17,508

66,635

Prepayments and accrued income

 

70,593

1,544

Creditors: Amounts falling due within one year

7.1

(57,516)

(39,547)

Net current assets

 

30,585

28,632

Total assets less current liabilities

 

77,195

49,563

Creditors: Amounts falling due after more than one year

7.2

(40,392)

(26,245)

Provisions for liabilities

(4,971)

(4,971)

Accruals and deferred income

 

(1,395)

(1,320)

Net assets

 

30,437

17,027

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

30,436

17,026

Shareholders' funds

 

30,437

17,027

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 22 March 2024
 

 

SDB CONSTRUCTION LTD

(Registration number: 10949774)
Abridged Balance Sheet as at 30 September 2023

.........................................
Ms L Malik
Director

   
     
 

SDB CONSTRUCTION LTD

Statement of Changes in Equity for the Year Ended 30 September 2023

Share capital
£

Retained earnings
£

Total
£

At 1 October 2022

1

17,026

17,027

Profit for the year

-

25,660

25,660

Dividends

-

(12,250)

(12,250)

At 30 September 2023

1

30,436

30,437

Share capital
£

Retained earnings
£

Total
£

At 1 October 2021

1

4,786

4,787

Profit for the year

-

12,240

12,240

At 30 September 2022

1

17,026

17,027

 

SDB CONSTRUCTION LTD

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
124 City Road
London
EC1V 2NX

The principal place of business is:
124 City Road
London
EC1V 2NX

These financial statements were authorised for issue by the director on 22 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
Grants that are received in respect of expenses or losses already incurred by the entity are recognised in the profit and loss account in the period when the grnt becomes receivable.

 

SDB CONSTRUCTION LTD

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

SDB CONSTRUCTION LTD

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including any director under contact) during the year, was 2 (2022 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

2,930

5,232

 

SDB CONSTRUCTION LTD

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

5

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

40,881

40,881

Additions

41,408

41,408

Disposals

(24,999)

(24,999)

At 30 September 2023

57,290

57,290

Depreciation

At 1 October 2022

19,950

19,950

Charge for the year

2,930

2,930

Eliminated on disposal

(12,200)

(12,200)

At 30 September 2023

10,680

10,680

Carrying amount

At 30 September 2023

46,610

46,610

At 30 September 2022

20,931

20,931

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

7

Creditors

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £12,587 (2022 - £0).

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £24,419 (2022 - £0).

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         

9

Related party transactions

 

SDB CONSTRUCTION LTD

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,000

-

 

SDB CONSTRUCTION LTD

iXBRL Detailed Profit and Loss Account for the Year Ended 30 September 2023

2023
£

2022
£

Turnover/revenue

130,135

82,035

Cost of sales

Opening stock/inventories

-

-

Purchase of raw materials and consumables

(44,704)

(35,735)

Closing stock/inventories

-

-

Operating lease payments

(2,405)

-

Depreciation of fixed assets

(2,930)

(5,232)

Wages and salaries excluding directors

(42,282)

(12,115)

Subcontractor costs

-

(510)

Other costs

93

(47)

Gross profit

37,907

28,396

Distribution costs

Administrative expenses

Audit and accountancy other services

(1,250)

(1,175)

Advertising, promotions and marketing costs

(165)

(500)

Client entertaining costs

-

(518)

Rent, rates and services costs

(162)

(84)

Vehicle costs

(5,592)

(5,452)

Salaries and fees, directors

(9,000)

-

Travel and subsistence

(75)

-

Training

(95)

-

Legal and professional costs

(801)

-

Bank charges

(115)

(254)

Insurance costs

(2,086)

(2,108)

IT and computing

(418)

(293)

Telecommunications

(273)

(246)

Printing, postage and stationery

(170)

(317)

Subscriptions

-

(11)

Other costs

(154)

(65)

Other operating income

Other items

Gain from disposal of fixed assets

9,701

-

Profit on ordinary activities before finance charges and interest

27,252

17,373

Bank interest and similar income receivable

-

16

Interest expense on bank overdraft, bank loans and similar borrowings

(794)

(1,051)

Interest expense on obligations under finance leases and hire purchase contracts

(735)

-

 

SDB CONSTRUCTION LTD

iXBRL Detailed Profit and Loss Account for the Year Ended 30 September 2023

2023
£

2022
£

Profit on ordinary activities before taxation

25,723

16,338

Tax on profit or loss on ordinary activities

(63)

(4,098)

Profit for the financial year

25,660

12,240