Registered number
09786033
AP Contracting (Chesterfield) Limited
Filleted Accounts
30 September 2023
AP Contracting (Chesterfield) Limited
Registered number: 09786033
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 101,629 74,591
Current assets
Debtors 4 288,596 335,050
Cash at bank and in hand 288,464 212,917
577,060 547,967
Creditors: amounts falling due within one year 5 (177,570) (264,986)
Net current assets 399,490 282,981
Net assets 501,119 357,572
Capital and reserves
Called up share capital 100 51
Share premium 951 -
Capital redemption reserve (84,255) (84,255)
Profit and loss account 584,323 441,776
Shareholders' funds 501,119 357,572
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.
A Else
Director
Approved by the board on 10 April 2024
AP Contracting (Chesterfield) Limited
Notes to the Accounts
for the year ended 30 September 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:
Motor vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Property improvements 25% straight line
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 14 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2022 - 12,805 146,383 159,188
Additions 5,850 5,047 54,850 65,747
Disposals - - (29,102) (29,102)
At 30 September 2023 5,850 17,852 172,131 195,833
Depreciation
At 1 October 2022 - 9,232 75,365 84,597
Charge for the year 1,463 1,565 30,062 33,090
On disposals - - (23,483) (23,483)
At 30 September 2023 1,463 10,797 81,944 94,204
Net book value
At 30 September 2023 4,387 7,055 90,187 101,629
At 30 September 2022 - 3,573 71,018 74,591
4 Debtors 2023 2022
£ £
Trade debtors 288,596 335,050
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 64,872 142,180
Taxation and social security costs 106,621 98,595
Other creditors 6,077 24,211
177,570 264,986
6 Other information
AP Contracting (Chesterfield) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 7
Mansfield Road
Bolsover
Chesterfield
S44 6LE
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