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REGISTERED NUMBER: 07665997 (England and Wales)













Financial Statements

for the Year Ended 31 July 2023

for

Ultimate Demolition And Construction
Service Limited

Ultimate Demolition And Construction
Service Limited (Registered number: 07665997)






Contents of the Financial Statements
for the year ended 31 July 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Ultimate Demolition And Construction
Service Limited

Company Information
for the year ended 31 July 2023







DIRECTOR: M Browne





REGISTERED OFFICE: The Old Bottle Yard
Great Northern Terrace
LINCOLN
LN5 8HN





REGISTERED NUMBER: 07665997 (England and Wales)





ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN

Ultimate Demolition And Construction
Service Limited (Registered number: 07665997)

Abridged Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,454,145 1,256,503
Investments 5 7,949 7,533
1,462,094 1,264,036

CURRENT ASSETS
Stocks 25,858 29,141
Debtors 1,018,698 934,510
Cash at bank 260,605 291,229
1,305,161 1,254,880
CREDITORS
Amounts falling due within one year 736,665 570,634
NET CURRENT ASSETS 568,496 684,246
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,030,590

1,948,282

CREDITORS
Amounts falling due after more than
one year

(441,857

)

(528,369

)

PROVISIONS FOR LIABILITIES (296,619 ) (209,941 )
NET ASSETS 1,292,114 1,209,972

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,292,113 1,209,971
1,292,114 1,209,972

Ultimate Demolition And Construction
Service Limited (Registered number: 07665997)

Abridged Balance Sheet - continued
31 July 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 March 2024 and were signed by:





M Browne - Director


Ultimate Demolition And Construction
Service Limited (Registered number: 07665997)

Notes to the Financial Statements
for the year ended 31 July 2023

1. STATUTORY INFORMATION

Ultimate Demolition And Construction Service Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents the value of all goods sold during the period, less returns received, at selling price exclusive of Value Added Tax. Sales of goods are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product, such as obsolescence, have been transferred to the customer. Sales of services are recognised as work is carried out regardless of when payment is due, less credits raised to customers. On certain contracts a retention is required to be withheld for on average 5 years to ensure the quality of the product,, these are included as debtors until such time as the retention is paid or is written off by the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on reducing balance

Freehold land is not depreciated.

Fixed asset investments are shown at fair value. Any material surplus or deficit arising from changes in fair value is recognised in the income statement.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Ultimate Demolition And Construction
Service Limited (Registered number: 07665997)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Only basic financial instruments as defined in FRS102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Ultimate Demolition And Construction
Service Limited (Registered number: 07665997)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit or loss on a straight line basis over the period of the lease. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of fixed assets
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.

For the purposes of impairment testing, 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.

Government grants
Government grants which have been accounted for under the performance model are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met.

Government grants which have been accounted for under the accruals model in respect of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2022 - 28 ) .

Ultimate Demolition And Construction
Service Limited (Registered number: 07665997)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022 2,084,335
Additions 566,019
Disposals (88,482 )
At 31 July 2023 2,561,872
DEPRECIATION
At 1 August 2022 827,832
Charge for year 316,363
Eliminated on disposal (36,468 )
At 31 July 2023 1,107,727
NET BOOK VALUE
At 31 July 2023 1,454,145
At 31 July 2022 1,256,503

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 August 2022 7,533
Revaluations 416
At 31 July 2023 7,949
NET BOOK VALUE
At 31 July 2023 7,949
At 31 July 2022 7,533

Cost or valuation at 31 July 2023 is represented by:
Totals
£   
Valuation in 2021 4,791
Valuation in 2022 2,742
Valuation in 2023 416
7,949

Ultimate Demolition And Construction
Service Limited (Registered number: 07665997)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

5. FIXED ASSET INVESTMENTS - continued

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 7,843 7,843

Fixed asset investments were valued on an open market basis on 31 July 2023 by reviewing the online trading price .

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 567,382 510,269
CBIL 183,103 264,049
750,485 774,318

HP agreements are secured over the assets to which they relate.

The CBIL is secured by a fixed charge over several assets that were on HP in the previous year.

7. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 464,500 258,250

The assets will be financed by HP which is secured over the assets to which it relates.

Ultimate Demolition And Construction
Service Limited (Registered number: 07665997)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
M Browne
Balance outstanding at start of year 17,551 -
Amounts advanced 48,591 35,674
Amounts repaid (55,670 ) (18,123 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,472 17,551

Director's loan is unsecured and repayable on demand. Interest at the official rate was charged on overdrawn amounts exceeding £10,000.

9. RELATED PARTY DISCLOSURES

At the year end the companies controlled by the director owed the company £145,878 (2022: £136,053). These loans are unsecured and interest free.