Registered number
09276976
Evergreen Construction (Market Rasen) Limited
Filleted Accounts
31 October 2023
Evergreen Construction (Market Rasen) Limited
Registered number: 09276976
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 30,548 72,704
Current assets
Stocks 340,000 529,790
Debtors 4 73,665 121,097
Cash at bank and in hand 56 87,490
413,721 738,377
Creditors: amounts falling due within one year 5 (624,002) (820,292)
Net current liabilities (210,281) (81,915)
Total assets less current liabilities (179,733) (9,211)
Creditors: amounts falling due after more than one year 6 (19,313) (37,568)
Net liabilities (199,046) (46,779)
Capital and reserves
Called up share capital 40 40
Profit and loss account (199,086) (46,819)
Shareholders' funds (199,046) (46,779)
The director is 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 director acknowledges his 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.
S Tucker
Director
Approved by the board on 30 July 2024
Evergreen Construction (Market Rasen) Limited
Notes to the Accounts
for the year ended 31 October 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 15% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Motor vehicles 25% reducing balance
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Fixtures, fittings & equipment Motor vehicles Total
£ £ £
Cost
At 1 November 2022 158,461 35,739 194,200
Additions 746 - 746
Disposals (69,000) - (69,000)
At 31 October 2023 90,207 35,739 125,946
Depreciation
At 1 November 2022 86,259 35,237 121,496
Charge for the year 4,690 (4,163) 527
On disposals (26,625) - (26,625)
At 31 October 2023 64,324 31,074 95,398
Net book value
At 31 October 2023 25,883 4,665 30,548
At 31 October 2022 72,202 502 72,704
4 Debtors 2023 2022
£ £
Trade debtors 47,042 90,533
Other debtors 26,623 30,564
73,665 121,097
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 21,382 19,737
Obligations under finance lease and hire purchase contracts - 22,179
Trade creditors 119,606 30,369
Taxation and social security costs 129,637 146,138
Other creditors 353,377 601,869
624,002 820,292
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 19,313 35,740
Obligations under finance lease and hire purchase contracts - 1,828
19,313 37,568
7 Other information
Evergreen Construction (Market Rasen) Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Workshop
Freisthorpe Road
Buslingthorpe
Lincoln
LN3 5AQ
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