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Company registration number: 04817056
Clive Ekin Building Services Limited
Unaudited filleted financial statements
31 August 2023
Clive Ekin Building Services Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Clive Ekin Building Services Limited
Directors and other information
Directors C G Ekin
D A T Ekin
J Ekin
Company number 04817056
Registered office Queensgate House
23 North Park Road
Harrogate
North Yorkshire
HG1 5PD
Business address Pyesbury Cottage
Boroughbridge
North Yorkshire
YO51 9AG
Accountants SMH Howard Matthews Ltd
Queensgate House
23 North Park Road
Harrogate
North Yorkshire
HG1 5PD
Clive Ekin Building Services Limited
Statement of financial position
31 August 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 7,334 13,334
Tangible assets 6 52,154 28,043
_______ _______
59,488 41,377
Current assets
Stocks 20,000 30,000
Debtors 7 86,493 69,445
Cash at bank and in hand 1,247,351 1,055,820
_______ _______
1,353,844 1,155,265
Creditors: amounts falling due
within one year 8 ( 420,039) ( 309,503)
_______ _______
Net current assets 933,805 845,762
_______ _______
Total assets less current liabilities 993,293 887,139
Provisions for liabilities ( 13,039) ( 7,011)
_______ _______
Net assets 980,254 880,128
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 980,154 880,028
_______ _______
Shareholders funds 980,254 880,128
_______ _______
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 17 April 2024 , and are signed on behalf of the board by:
C G Ekin
Director
Company registration number: 04817056
Clive Ekin Building Services Limited
Notes to the financial statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Queensgate House, 23 North Park Road, Harrogate, North Yorkshire, HG1 5PD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
Computer equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2022: 7 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 September 2022 and 31 August 2023 60,000 60,000
_______ _______
Amortisation
At 1 September 2022 46,666 46,666
Charge for the year 6,000 6,000
_______ _______
At 31 August 2023 52,666 52,666
_______ _______
Carrying amount
At 31 August 2023 7,334 7,334
_______ _______
At 31 August 2022 13,334 13,334
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Motor vehicles Computer Total
£ £ £ £
Cost
At 1 September 2022 33,960 25,600 2,411 61,971
Additions 34,012 6,860 624 41,496
_______ _______ _______ _______
At 31 August 2023 67,972 32,460 3,035 103,467
_______ _______ _______ _______
Depreciation
At 1 September 2022 11,130 21,279 1,519 33,928
Charge for the year 14,211 2,795 379 17,385
_______ _______ _______ _______
At 31 August 2023 25,341 24,074 1,898 51,313
_______ _______ _______ _______
Carrying amount
At 31 August 2023 42,631 8,386 1,137 52,154
_______ _______ _______ _______
At 31 August 2022 22,830 4,321 892 28,043
_______ _______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors 7,977 47,567
Other debtors 78,516 21,878
_______ _______
86,493 69,445
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 86,473 38,066
Corporation tax 47,597 31,095
Other creditors 285,969 240,342
_______ _______
420,039 309,503
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
C G Ekin ( 127,382) ( 14,681) - ( 142,063)
D A T Ekin ( 71,692) ( 13,538) - ( 85,230)
J Ekin ( 22,429) ( 9,000) - ( 31,429)
_______ _______ _______ _______
( 221,503) ( 37,219) - ( 258,722)
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
C G Ekin ( 146,209) ( 1,570) 20,397 ( 127,382)
D A T Ekin ( 52,064) ( 19,628) - ( 71,692)
J Ekin ( 2,059) ( 20,370) - ( 22,429)
_______ _______ _______ _______
( 200,332) ( 41,568) 20,397 ( 221,503)
_______ _______ _______ _______
10. Related party transactions
During the year the company paid dividends to directors totalling £39,476 (C Ekin), £37,550 (D Ekin) and £30,200 ( J Ekin ).