Registered number
05073715
EXPRESS BUILDING CONTRACTORS LIMITED
Filleted Accounts
31 March 2023
EXPRESS BUILDING CONTRACTORS LIMITED
Registered number: 05073715
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 148,392 120,086
Current assets
Stocks 67,622 89,586
Debtors 4 335,264 183,886
Cash at bank and in hand 320,529 292,896
723,415 566,368
Creditors: amounts falling due within one year 5 (172,898) (188,376)
Net current assets 550,517 377,992
Total assets less current liabilities 698,909 498,078
Creditors: amounts falling due after more than one year 6 (88,644) (84,032)
Net assets 610,265 414,046
Capital and reserves
Called up share capital 100 100
Profit and loss account 610,165 413,946
Shareholder's funds 610,265 414,046
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.
Mr Alan Monaghan
Director
Approved by the board on 21 December 2023
EXPRESS BUILDING CONTRACTORS LIMITED
Notes to the Accounts
for the year ended 31 March 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 (as applied to small entities by section 1A of the standard).
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 20,241 208,857 229,098
Additions 9,404 90,730 100,134
Disposals (3,528) - (3,528)
At 31 March 2023 26,117 299,587 325,704
Depreciation
At 1 April 2022 13,415 95,597 109,012
Charge for the year 5,126 66,702 71,828
On disposals (3,528) - (3,528)
At 31 March 2023 15,013 162,299 177,312
Net book value
At 31 March 2023 11,104 137,288 148,392
At 31 March 2022 6,826 113,260 120,086
4 Debtors 2023 2022
£ £
Trade debtors 281,603 128,049
Loan to associated company 20,007 20,007
Other debtors 33,654 35,830
335,264 183,886
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,259 11,353
Obligations under finance lease and hire purchase contracts 59,547 41,609
Trade creditors 14,925 23,279
Taxation and social security costs 84,943 44,587
Directors current account 3,224 67,548
172,898 188,376
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 23,201 32,894
Obligations under finance lease and hire purchase contracts 65,443 51,138
88,644 84,032
7 Other information
EXPRESS BUILDING CONTRACTORS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
10 Oakdale Avenue
Harrow
Middlesex
HA3 0UJ
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