Registered number
08179186
Adams Building Contractors (Herefordshire) Limited
Filleted Accounts
31 August 2023
Adams Building Contractors (Herefordshire) Limited
Registered number: 08179186
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 39,545 35,049
Current assets
Stocks 265,536 265,536
Debtors 4 6,628 8,320
Cash at bank and in hand 585 8,918
272,749 282,774
Creditors: amounts falling due within one year 5 (174,245) (186,302)
Net current assets 98,504 96,472
Total assets less current liabilities 138,049 131,521
Creditors: amounts falling due after more than one year 6 (39,010) (38,391)
Provisions for liabilities (7,514) (6,659)
Net assets 91,525 86,471
Capital and reserves
Called up share capital 1 1
Profit and loss account 91,524 86,470
Shareholders' funds 91,525 86,471
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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.
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 M. Adams
Director
Approved by the board on 22 March 2024
Adams Building Contractors (Herefordshire) Limited
Notes to the Accounts
for the year ended 31 August 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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2022 25,695 56,201 81,896
Additions 187 29,327 29,514
Disposals - (18,999) (18,999)
At 31 August 2023 25,882 66,529 92,411
Depreciation
At 1 September 2022 17,126 29,721 46,847
Charge for the year 4,113 13,306 17,419
On disposals - (11,400) (11,400)
At 31 August 2023 21,239 31,627 52,866
Net book value
At 31 August 2023 4,643 34,902 39,545
At 31 August 2022 8,569 26,480 35,049
4 Debtors 2023 2022
£ £
Other debtors 6,628 8,320
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 5,180 4,445
Trade creditors 2,792 1,400
Taxation and social security costs 8,175 6,300
Director's current account 1,086 19,142
Other creditors 157,012 155,015
174,245 186,302
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 24,766 33,770
Obligations under finance lease and hire purchase contracts 14,244 4,621
39,010 38,391
7 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 9,066 9,066
8 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr M. Adams
Current account 19,142 24,242 (42,298) 1,086
19,142 24,242 (42,298) 1,086
9 Controlling party
The company is under the control of Mr M. Adams, the director, who owns 100% of the issued share capital.
10 Other information
Adams Building Contractors (Herefordshire) Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Holmer Terrace
Holmer
Hereford
HR4 9RH
Adams Building Contractors (Herefordshire) Limited 08179186 false 2022-09-01 2023-08-31 2023-08-31 VT Final Accounts July 2018 Mr M. Adams No description of principal activity 08179186 2021-09-01 2022-08-31 08179186 core:WithinOneYear 2022-08-31 08179186 core:AfterOneYear 2022-08-31 08179186 core:ShareCapital 2022-08-31 08179186 core:RetainedEarningsAccumulatedLosses 2022-08-31 08179186 core:AllPeriods 2022-08-31 08179186 2022-09-01 2023-08-31 08179186 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 08179186 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 08179186 bus:Director40 2022-09-01 2023-08-31 08179186 1 2022-09-01 2023-08-31 08179186 2 2022-09-01 2023-08-31 08179186 core:PlantMachinery 2022-09-01 2023-08-31 08179186 core:Vehicles 2022-09-01 2023-08-31 08179186 bus:Director1 2022-09-01 2023-08-31 08179186 bus:Director1 1 2022-09-01 2023-08-31 08179186 countries:England 2022-09-01 2023-08-31 08179186 bus:FRS102 2022-09-01 2023-08-31 08179186 bus:FullAccounts 2022-09-01 2023-08-31 08179186 2023-08-31 08179186 core:WithinOneYear 2023-08-31 08179186 core:AfterOneYear 2023-08-31 08179186 core:ShareCapital 2023-08-31 08179186 core:RetainedEarningsAccumulatedLosses 2023-08-31 08179186 core:PlantMachinery 2023-08-31 08179186 core:Vehicles 2023-08-31 08179186 core:AllPeriods 2023-08-31 08179186 bus:Director1 1 2023-08-31 08179186 2022-08-31 08179186 core:PlantMachinery 2022-08-31 08179186 core:Vehicles 2022-08-31 08179186 bus:Director1 1 2022-08-31 iso4217:GBP xbrli:pure