Company registration number 04342109 (England and Wales)
BOND CONSTRUCTION SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
BOND CONSTRUCTION SERVICES LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr J Franklin
Secretary
Mrs E Franklin
Company number
04342109
Registered office
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
Accountants
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
BOND CONSTRUCTION SERVICES LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
BOND CONSTRUCTION SERVICES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
26,481
45,511
Current assets
Stocks
150,159
-
Debtors
4
43,323
159,540
Cash at bank and in hand
277,430
531,182
470,912
690,722
Creditors: amounts falling due within one year
5
(281,642)
(475,522)
Net current assets
189,270
215,200
Total assets less current liabilities
215,751
260,711
Provisions for liabilities
(6,620)
(11,378)
Net assets
209,131
249,333
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
209,031
249,233
Total equity
209,131
249,333

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

BOND CONSTRUCTION SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 24 July 2024
Mr J Franklin
Director
Company Registration No. 04342109
The notes on pages 4 to 8 form part of these financial statements
BOND CONSTRUCTION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

Bond Construction Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Courtyard, Shoreham Road, Upper Beeding, Steyning, West Sussex, BN44 3TN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
50% Straight line
Fixtures and fittings
10% Straight line
Computers
25% Straight line
Motor vehicles
25% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

BOND CONSTRUCTION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.4
Stocks

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

 

Long term contract balances are stated at net cost less foreseeable losses less any applicable payments on

account. The amount recorded as turnover in respect of long-term contracts is ascertained by reference to the value of the work carried out to date. Attributable profit is recognised as the difference between recorded turnover and related costs.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BOND CONSTRUCTION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

BOND CONSTRUCTION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
16
17
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023
19,697
3,777
17,400
227,491
268,365
Additions
-
0
-
0
912
-
0
912
At 31 December 2023
19,697
3,777
18,312
227,491
269,277
Depreciation and impairment
At 1 January 2023
18,926
1,844
14,913
187,171
222,854
Depreciation charged in the year
771
298
1,387
17,486
19,942
At 31 December 2023
19,697
2,142
16,300
204,657
242,796
Carrying amount
At 31 December 2023
-
0
1,635
2,012
22,834
26,481
At 31 December 2022
771
1,933
2,487
40,320
45,511
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
9,645
111,406
Other debtors
33,678
48,134
43,323
159,540
BOND CONSTRUCTION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
63,470
127,929
Corporation tax
103,035
132,743
Other taxation and social security
105,335
203,622
Other creditors
9,802
11,228
281,642
475,522
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Ordinary shares of £1 each
100
100
100
100
7
Parent company

The ultimate parent company is Bond Construction Holdings Limited, registered in England and Wales. The Company's registered office is The Courtyard, Shoreham Road, Upper Beeding, West Sussex, BN44 3TN

The ultimate controlling party is Mr J Franklin, by virtue of owning the majority of the issued share capital of the ultimate parent company, Bond Construction Holdings Limited.

2023-12-312023-01-01false24 July 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr J FranklinMrs E Franklinfalsefalse043421092023-01-012023-12-3104342109bus:Director12023-01-012023-12-3104342109bus:CompanySecretary12023-01-012023-12-3104342109bus:RegisteredOffice2023-01-012023-12-31043421092023-12-31043421092022-12-3104342109core:PlantMachinery2023-12-3104342109core:FurnitureFittings2023-12-3104342109core:ComputerEquipment2023-12-3104342109core:MotorVehicles2023-12-3104342109core:PlantMachinery2022-12-3104342109core:FurnitureFittings2022-12-3104342109core:ComputerEquipment2022-12-3104342109core:MotorVehicles2022-12-3104342109core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3104342109core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3104342109core:CurrentFinancialInstruments2023-12-3104342109core:CurrentFinancialInstruments2022-12-3104342109core:ShareCapital2023-12-3104342109core:ShareCapital2022-12-3104342109core:RetainedEarningsAccumulatedLosses2023-12-3104342109core:RetainedEarningsAccumulatedLosses2022-12-3104342109core:PlantMachinery2023-01-012023-12-3104342109core:FurnitureFittings2023-01-012023-12-3104342109core:ComputerEquipment2023-01-012023-12-3104342109core:MotorVehicles2023-01-012023-12-31043421092022-01-012022-12-3104342109core:PlantMachinery2022-12-3104342109core:FurnitureFittings2022-12-3104342109core:ComputerEquipment2022-12-3104342109core:MotorVehicles2022-12-31043421092022-12-3104342109core:WithinOneYear2023-12-3104342109core:WithinOneYear2022-12-3104342109bus:PrivateLimitedCompanyLtd2023-01-012023-12-3104342109bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3104342109bus:FRS1022023-01-012023-12-3104342109bus:AuditExemptWithAccountantsReport2023-01-012023-12-3104342109bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP