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REGISTERED NUMBER: 11346697 (England and Wales)


































Unaudited Financial Statements

for the Year Ended 31 May 2024

for

S PEART CONSTRUCTION LIMITED

S PEART CONSTRUCTION LIMITED (REGISTERED NUMBER: 11346697)






Contents of the Financial Statements
for the year ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S PEART CONSTRUCTION LIMITED

Company Information
for the year ended 31 May 2024







DIRECTOR: S R Peart





REGISTERED OFFICE: Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX





REGISTERED NUMBER: 11346697 (England and Wales)





ACCOUNTANTS: Mitchells Grievson Limited
Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX

S PEART CONSTRUCTION LIMITED (REGISTERED NUMBER: 11346697)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,819 45,721

CURRENT ASSETS
Stocks 3,200 3,200
Debtors 5 20,917 3,706
Cash at bank 76,481 72,236
100,598 79,142
CREDITORS
Amounts falling due within one year 6 40,140 40,303
NET CURRENT ASSETS 60,458 38,839
TOTAL ASSETS LESS CURRENT
LIABILITIES

90,277

84,560

CREDITORS
Amounts falling due after more than one
year

7

33,093

43,145
NET ASSETS 57,184 41,415

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 57,174 41,405
SHAREHOLDERS' FUNDS 57,184 41,415

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

S PEART CONSTRUCTION LIMITED (REGISTERED NUMBER: 11346697)

Balance Sheet - continued
31 May 2024


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

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 23 July 2024 and were signed by:





S R Peart - Director


S PEART CONSTRUCTION LIMITED (REGISTERED NUMBER: 11346697)

Notes to the Financial Statements
for the year ended 31 May 2024

1. STATUTORY INFORMATION

S Peart Construction 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 profit or loss over the relevant period. 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.

S PEART CONSTRUCTION LIMITED (REGISTERED NUMBER: 11346697)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 81,489 1,050 82,539
DEPRECIATION
At 1 June 2023 35,887 931 36,818
Charge for year 15,783 119 15,902
At 31 May 2024 51,670 1,050 52,720
NET BOOK VALUE
At 31 May 2024 29,819 - 29,819
At 31 May 2023 45,602 119 45,721

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 June 2023
and 31 May 2024 21,251
DEPRECIATION
At 1 June 2023 16,388
Charge for year 10,107
At 31 May 2024 26,495
NET BOOK VALUE
At 31 May 2024 (5,244 )
At 31 May 2023 4,863

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,075 3,380
Other debtors 18,842 326
20,917 3,706

S PEART CONSTRUCTION LIMITED (REGISTERED NUMBER: 11346697)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 4,243 6,763
Trade creditors 13,392 11,921
Taxation and social security 21,305 20,419
Other creditors 1,200 1,200
40,140 40,303

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,321 15,100
Hire purchase contracts 22,772 28,045
33,093 43,145