Company Registration No. 08617512 (England and Wales)
S2 Construction Limited
Unaudited accounts
for the year ended 31 July 2023
S2 Construction Limited
Unaudited accounts
Contents
S2 Construction Limited
Company Information
for the year ended 31 July 2023
Secretary
J C D'Cruze-Smith
Company Number
08617512 (England and Wales)
Registered Office
29 Ancil Avenue
Launton Village
Bicester
Oxon
OX26 5DL
England
Accountants
D G Accountancy & Taxation Services
26 Hillary Way
Wheatley
Oxford
Oxfordshire
OX33 1UY
S2 Construction Limited
Statement of financial position
as at 31 July 2023
Tangible assets
98,575
21,217
Cash at bank and in hand
86,587
62,681
Creditors: amounts falling due within one year
(73,076)
(58,863)
Net current assets
115,846
146,965
Total assets less current liabilities
214,421
168,182
Creditors: amounts falling due after more than one year
(56,066)
-
Provisions for liabilities
Deferred tax
(6,851)
(4,031)
Net assets
151,504
164,151
Called up share capital
100
100
Profit and loss account
151,404
164,051
Shareholders' funds
151,504
164,151
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 February 2024 and were signed on its behalf by
S Smith
Director
Company Registration No. 08617512
S2 Construction Limited
Notes to the Accounts
for the year ended 31 July 2023
S2 Construction Limited is a private company, limited by shares, registered in England and Wales, registration number 08617512. The registered office is 29 Ancil Avenue, Launton Village, Bicester, Oxon, OX26 5DL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & equipment - 25% reducing balance
Motor vehicles - 25% reducing balance
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
S2 Construction Limited
Notes to the Accounts
for the year ended 31 July 2023
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 August 2022
11,666
57,845
69,511
Additions
-
112,616
112,616
Disposals
-
(47,050)
(47,050)
At 31 July 2023
11,666
123,411
135,077
At 1 August 2022
6,232
42,062
48,294
Charge for the year
1,360
19,635
20,995
On disposals
-
(32,787)
(32,787)
At 31 July 2023
7,592
28,910
36,502
At 31 July 2023
4,074
94,501
98,575
At 31 July 2022
5,434
15,783
21,217
Amounts falling due within one year
Trade debtors
47,911
92,552
Accrued income and prepayments
1,634
1,891
Other debtors
51,940
48,254
S2 Construction Limited
Notes to the Accounts
for the year ended 31 July 2023
7
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
10,099
-
Trade creditors
30,098
10,394
Taxes and social security
31,787
47,394
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
56,066
-
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Advances to director
36,418
2,756
-
39,174
Included in other debtors are loans made to the director totalling £39,174 (2022 £36,418), which are unsecured, interest free & repayable on demand.
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).