Heads Carpentry & Construction Limited


FINANCIAL STATEMENTS


for the year ended 31st October 2023



Heads Carpentry & Construction Limited

CONTENTS

for the year ended 31st October 2023







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

Heads Carpentry & Construction Limited

Company No. 11610380

STATEMENT OF FINANCIAL POSITION

as at 31st October 2023

20232022
Note£££
FIXED ASSETS
Property, plant and equipment474649331
74649331
CURRENT ASSETS
Debtors52289625547
Cash at bank and in hand386205
2328225752
CURRENT LIABILITIES
Creditors: amounts falling due
within one year62181124336
NET CURRENT ASSETS14711416
TOTAL ASSETS LESS CURRENT LIABILITIES893510747
 
Creditors: amounts falling due
after more than one year744006800
 
NET ASSETS45353947
 
CAPITAL AND RESERVES
Called up share capital102102
Retained earnings44333845
SHAREHOLDERS FUNDS45353947

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 31st October 2023 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 23 April 2024


C S Head

Director

Company Number 11610380 (England)

Heads Carpentry & Construction Limited

NOTES TO THE ACCOUNTS

for the year ended 31st October 2023


1   Statutory information

Heads Carpentry & Construction Limited is a private company limited by shares and registered under company number 11610380 in England. Its registered office address is 12, Hatherley Road, Sidcup, Kent, United Kingdom, DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, 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:

Plant, machinery and vehicles15-25% reducing balance

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

3   Employee information

The average number of employees during the accounting period was 3 (2022 - 2).

4   Property, plant and equipment
 
PlantFixtures
Motorandand
VehiclesMachineryFittingsTotal
££££
Cost
At 1st November 2022 and
At 31st October 202359956266444116702
 
Depreciation
At 1st November 2022 2865216823387371
Charge for year6268204211867
At 31st October 20233491298827599238
 
Net Book Value
At 31st October 20232504327816827464
At 31st October 20223130409821039331

5   Debtors20232022
££
 
Trade Debtors22895514
Other debtors2060720033
2289625547

6   Creditors: amounts falling due within one year20232022
££
 
Loans and Overdrafts35512400
Corporation tax709110812
Other creditors1116911124
2181124336

7   Creditors: amounts falling due after one year20232022
££
 
Loans and Overdrafts44006800
44006800

8   Loans20232022
££
Analysis of maturity of debt:
 
Within one year35512400
Between one and five years44006800
79519200

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