Caseware UK (AP4) 2023.0.135 2023.0.135 true2022-08-01falseThe principal activity of the company is that of a groundworks contractor.3637trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04435952 2022-08-01 2023-07-31 04435952 2021-08-01 2022-07-31 04435952 2023-07-31 04435952 2022-07-31 04435952 c:Director1 2022-08-01 2023-07-31 04435952 d:PlantMachinery 2022-08-01 2023-07-31 04435952 d:PlantMachinery 2023-07-31 04435952 d:PlantMachinery 2022-07-31 04435952 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 04435952 d:MotorVehicles 2022-08-01 2023-07-31 04435952 d:MotorVehicles 2023-07-31 04435952 d:MotorVehicles 2022-07-31 04435952 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 04435952 d:FurnitureFittings 2022-08-01 2023-07-31 04435952 d:FurnitureFittings 2023-07-31 04435952 d:FurnitureFittings 2022-07-31 04435952 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 04435952 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 04435952 d:Goodwill 2022-08-01 2023-07-31 04435952 d:Goodwill 2023-07-31 04435952 d:Goodwill 2022-07-31 04435952 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 04435952 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 04435952 d:ShareCapital 2023-07-31 04435952 d:ShareCapital 2022-07-31 04435952 d:RetainedEarningsAccumulatedLosses 2023-07-31 04435952 d:RetainedEarningsAccumulatedLosses 2022-07-31 04435952 c:OrdinaryShareClass1 2022-08-01 2023-07-31 04435952 c:OrdinaryShareClass1 2022-07-31 04435952 c:OrdinaryShareClass2 2022-08-01 2023-07-31 04435952 c:OrdinaryShareClass2 2023-07-31 04435952 c:OrdinaryShareClass3 2022-08-01 2023-07-31 04435952 c:OrdinaryShareClass3 2023-07-31 04435952 c:FRS102 2022-08-01 2023-07-31 04435952 c:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 04435952 c:FullAccounts 2022-08-01 2023-07-31 04435952 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 04435952 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 04435952 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 04435952 d:RetirementBenefitObligationsDeferredTax 2023-07-31 04435952 d:RetirementBenefitObligationsDeferredTax 2022-07-31 04435952 d:OtherDeferredTax 2023-07-31 04435952 d:OtherDeferredTax 2022-07-31 04435952 2 2022-08-01 2023-07-31 04435952 e:PoundSterling 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04435952










Nick Kenward Construction Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 July 2023

 
Nick Kenward Construction Limited
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of Nick Kenward Construction Limited 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 Nick Kenward Construction Limited 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 Nick Kenward Construction Limited in accordance with the terms of our engagement letter dated 06 October 2023Our work has been undertaken solely to prepare for your approval the financial statements of Nick Kenward Construction Limited  and state those matters that we have agreed to state to the director of Nick Kenward Construction Limited 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 Nick Kenward Construction Limited and its director for our work or for this report. 

It is your duty to ensure that Nick Kenward Construction Limited 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 Nick Kenward Construction Limited. You consider that Nick Kenward Construction Limited 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 Nick Kenward Construction Limited. 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
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
4 March 2024
Page 1

 
Nick Kenward Construction Limited
Registered number: 04435952

Balance Sheet
As at 31 July 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
98,292
47,804

  
98,292
47,804

Current assets
  

Stocks
  
9,136
12,836

Debtors
  
2,679,648
2,321,296

Cash at bank and in hand
  
2,471,949
1,768,943

  
5,160,733
4,103,075

Creditors: amounts falling due within one year
  
(1,572,150)
(1,209,779)

Net current assets
  
 
 
3,588,583
 
 
2,893,296

Total assets less current liabilities
  
3,686,875
2,941,100

Provisions for liabilities
  

Deferred tax
 6 
(7,415)
(9,848)

  
 
 
(7,415)
 
 
(9,848)

Net assets
  
3,679,460
2,931,252


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
3,679,458
2,931,250

  
3,679,460
2,931,252


Page 2

 
Nick Kenward Construction Limited
Registered number: 04435952

Balance Sheet (continued)
As at 31 July 2023

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: 




................................................
N C Kenward
Director

Date: 29 February 2024

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

Page 3

 
Nick Kenward Construction Limited
 

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

1.


General information

The company is a private company, limited by share capital, and incorporated in England and Wales. The address of its registered office is: Eastwood Farm Rusper Road, Newdigate, Dorking, Surrey, England, RH5 5BX.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in £ Sterling and rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Revenue

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

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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 revenue 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

Interest income

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

Page 4

 
Nick Kenward Construction Limited
 

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

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over its useful economic life. 

 The estimated useful lives range as follows:

Goodwill
-
10
years 

Page 5

 
Nick Kenward Construction Limited
 

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

2.Accounting policies (continued)

 
2.7

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.

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 on the following basis:

Plant and machinery
-
25%
per annum on a reducing balance basis
Motor vehicles
-
25%
per annum on a reducing balance basis
Fixtures and fittings
-
25%
per annum on a reducing balance basis

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.

 
2.8

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.

 
2.9

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.

 
2.10

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short term creditors are measured at the transaction price.

Page 6

 
Nick Kenward Construction Limited
 

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

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 36 (2022 - 37).


4.


Intangible assets




Goodwill

£



Cost


At 1 August 2022
149,750



At 31 July 2023

149,750



Amortisation


At 1 August 2022
149,750



At 31 July 2023

149,750



Net book value



At 31 July 2023
-



At 31 July 2022
-



Page 7

 
Nick Kenward Construction Limited
 

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

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 August 2022
52,957
-
85,770
138,727


Additions
-
64,490
3,832
68,322



At 31 July 2023

52,957
64,490
89,602
207,049



Depreciation


At 1 August 2022
44,108
-
46,815
90,923


Charge for the year on owned assets
2,213
5,374
10,247
17,834



At 31 July 2023

46,321
5,374
57,062
108,757



Net book value



At 31 July 2023
6,636
59,116
32,540
98,292



At 31 July 2022
8,849
-
38,955
47,804


6.


Deferred taxation




2023


£






At beginning of year
(9,848)


Charged to profit or loss
2,433



At end of year
(7,415)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(9,418)
(11,951)

Pension surplus
973
786

Other short term timing differences
1,030
1,317

(7,415)
(9,848)


7.


Share capital

2023
2022
£
£
Page 8

 
Nick Kenward Construction Limited
 

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

7.Share capital (continued)

Allotted, called up and fully paid



0 (2022 - 2) Ordinary shares of £1.00 each
-
2
180 (2022 - 0 ) Ordinary A shares of £0.01 each
2
-
20 (2022 - 0) Ordinary B shares of £0.01 each
-
-

2

2

During the year, 2 Ordinary shares of £1.00 each were sub-divided into 200 Ordinary shares of £0.01 each. 180 Ordinary shares of £0.01 were redesignated as 180 A Ordinary shares of £0.01. 20 Ordinary shares of £0.01 were redesignated to 20 B Ordinary shares of £0.01. 



8.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately  from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £32,512 (2022 - £29,798). Contributions totalling £7,810 (2022 - £6,293) were payable to the fund at the balance sheet date and are included in creditors. 


Page 9