Caseware UK (AP4) 2023.0.135 2023.0.135 2022-08-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02834645 2022-08-01 2023-07-31 02834645 2021-08-01 2022-07-31 02834645 2023-07-31 02834645 2022-07-31 02834645 c:Director1 2022-08-01 2023-07-31 02834645 d:PlantMachinery 2022-08-01 2023-07-31 02834645 d:PlantMachinery 2023-07-31 02834645 d:PlantMachinery 2022-07-31 02834645 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 02834645 d:MotorVehicles 2022-08-01 2023-07-31 02834645 d:MotorVehicles 2023-07-31 02834645 d:MotorVehicles 2022-07-31 02834645 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 02834645 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 02834645 d:CurrentFinancialInstruments 2023-07-31 02834645 d:CurrentFinancialInstruments 2022-07-31 02834645 d:Non-currentFinancialInstruments 2023-07-31 02834645 d:Non-currentFinancialInstruments 2022-07-31 02834645 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 02834645 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 02834645 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 02834645 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 02834645 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 02834645 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-07-31 02834645 d:ShareCapital 2023-07-31 02834645 d:ShareCapital 2022-07-31 02834645 d:RetainedEarningsAccumulatedLosses 2023-07-31 02834645 d:RetainedEarningsAccumulatedLosses 2022-07-31 02834645 c:FRS102 2022-08-01 2023-07-31 02834645 c:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 02834645 c:FullAccounts 2022-08-01 2023-07-31 02834645 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 02834645 d:WithinOneYear 2023-07-31 02834645 d:WithinOneYear 2022-07-31 02834645 d:BetweenOneFiveYears 2023-07-31 02834645 d:BetweenOneFiveYears 2022-07-31 02834645 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 02834645 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 02834645 2 2022-08-01 2023-07-31 02834645 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 02834645










Arundel Builders Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 July 2023

 
Arundel Builders Ltd
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of Arundel Builders Ltd for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Arundel Builders Ltd for the year ended 31 July 2023 which comprise  the Balance Sheet and the related notes 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 https://www.icaew.com /regulation.

This report is made solely to the director of Arundel Builders Ltd in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Arundel Builders Ltd and state those matters that we have agreed to state to the director of Arundel Builders Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Arundel Builders Ltd and its director for our work or for this report. 

It is your duty to ensure that Arundel Builders Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Arundel Builders Ltd. You consider that Arundel Builders Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Arundel Builders 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 financial statements.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
8 April 2024
Page 1

 
Arundel Builders Ltd
Registered number: 02834645

Balance Sheet
As at 31 July 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
25,486
28,801

  
25,486
28,801

Current assets
  

Stocks
  
18,248
11,973

Debtors: amounts falling due within one year
 5 
54,526
104,976

Cash at bank and in hand
  
163,014
109,883

  
235,788
226,832

Creditors: amounts falling due within one year
 6 
(100,002)
(114,450)

Net current assets
  
 
 
135,786
 
 
112,382

Total assets less current liabilities
  
161,272
141,183

Creditors: amounts falling due after more than one year
 7 
(19,841)
(29,842)

Provisions for liabilities
  

Deferred tax
 9 
(6,372)
(7,200)

  
 
 
(6,372)
 
 
(7,200)

Net assets
  
135,059
104,141

Page 2

 
Arundel Builders Ltd
Registered number: 02834645

Balance Sheet (continued)
As at 31 July 2023

2023
2022
£
£

Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
134,059
103,141

  
135,059
104,141


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 by: 




................................................
D M Andrews
Director
Date: 8 April 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
Arundel Builders Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2023

1.


General information

Arundel Builders Ltd is a private company limited by share capital incorporated in England and Wales, with the registration number 02834645.
The Company's registered office is Cricket Hill Farm, London Road, Arundel, West Sussex BN18 9LJ.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

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

 
Arundel Builders Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2023

2.Accounting policies (continued)


2.3
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 basis.

Depreciation is provided as follows:

Plant and machinery
-
15%
per annum
Motor vehicles
-
35%
per annum

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.

 
2.4

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. Work in progress and finished goods include labour and attributable overheads.

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.

 
2.5

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.

 
2.6

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.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.7

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.

 
2.8

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 5

 
Arundel Builders Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.11

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.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

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

Page 6

 
Arundel Builders Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost


At 1 August 2022
29,384
41,085
70,469


Additions
3,578
-
3,578



At 31 July 2023

32,962
41,085
74,047



Depreciation


At 1 August 2022
12,357
29,311
41,668


Charge for the year on owned assets
2,772
4,121
6,893



At 31 July 2023

15,129
33,432
48,561



Net book value



At 31 July 2023
17,833
7,653
25,486



At 31 July 2022
17,027
11,774
28,801


5.


Debtors

2023
2022
£
£


Trade debtors
39,265
60,928

Prepayments and accrued income
1,091
996

Amounts recoverable on long-term contracts
14,170
43,052

54,526
104,976



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,998
9,766

Trade creditors
19,928
38,972

Corporation tax
32,282
27,657

Other taxation and social security
31,392
24,192

Other creditors
2,452
1,592

Accruals and deferred income
3,950
12,271

100,002
114,450


Page 7

 
Arundel Builders Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
19,841
29,842



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
9,998
9,766


Amounts falling due 2-5 years

Bank loans
19,841
29,842


29,839
39,608



9.


Deferred taxation




2023


£






At beginning of year
(7,200)


Charged to profit or loss
828



At end of year
(6,372)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(6,372)
(7,200)

(6,372)
(7,200)

Page 8

 
Arundel Builders Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2023


10.


Pension commitments

The Company operates a defined contributions pension scheme. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,076 (2022 - £809).


11.


Commitments under operating leases

At 31 July 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
7,000
7,000

Later than 1 year and not later than 5 years
7,583
14,583

14,583
21,583


Page 9