WHITSHAW BUILDERS LTD
Registered number: 08127022
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 162,707 110,198
Investments 4 31 31
162,738 110,229
Current assets
Stocks 109,613 403,093
Debtors 5 484,783 371,168
Cash at bank and in hand 459,091 440,765
1,053,487 1,215,026
Creditors: amounts falling due within one year 6 (518,300) (599,074)
Net current assets 535,187 615,952
Total assets less current liabilities 697,925 726,181
Creditors: amounts falling due after more than one year 7 (66,482) (53,347)
Provisions for liabilities (40,677) (20,938)
Net assets 590,766 651,896
Capital and reserves
Called up share capital 100 100
Profit and loss account 590,666 651,796
Shareholder's funds 590,766 651,896
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J R Shaw
Director
Approved by the board on 2 April 2024
WHITSHAW BUILDERS LTD
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Tools and equipment 10%/15% written down value
Motor vehicles 25% written down value
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 16 16
3 Tangible fixed assets
Tools and equipment Motor vehicles Total
£ £ £
Cost
At 1 August 2022 86,250 75,657 161,907
Additions 24,775 82,707 107,482
Disposals - (45,958) (45,958)
At 31 July 2023 111,025 112,406 223,431
Depreciation
At 1 August 2022 18,190 33,519 51,709
Charge for the year 11,267 23,082 34,349
On disposals - (25,334) (25,334)
At 31 July 2023 29,457 31,267 60,724
Net book value
At 31 July 2023 81,568 81,139 162,707
At 31 July 2022 68,060 42,138 110,198
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 August 2022 31
At 31 July 2023 31
5 Debtors 2023 2022
£ £
Trade debtors 104,280 24,684
Amounts owed by group undertakings and undertakings in which the company has a participating interest 320,592 286,055
Other debtors 59,911 60,429
484,783 371,168
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,583 9,583
Obligations under finance lease and hire purchase contracts 25,288 14,095
Trade creditors 161,481 194,592
Amounts owed to group undertakings and undertakings in which the company has a participating interest 149,975 -
Corporation tax 27,931 62,546
Other taxes and social security costs 24,613 30,428
Other creditors 119,429 287,830
518,300 599,074
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,750 28,750
Obligations under finance lease and hire purchase contracts 47,732 24,597
66,482 53,347
8 Other information
WHITSHAW BUILDERS LTD is a private company limited by shares and incorporated in England. Its registered office is:
105 Redbrook Road
Barnsley
South Yorkshire
S75 2RG
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