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REGISTERED NUMBER: 04611645 (England and Wales)
























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SRC CONSTRUCTION AND PAVING LTD

SRC CONSTRUCTION AND PAVING LTD (REGISTERED NUMBER: 04611645)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SRC CONSTRUCTION AND PAVING LTD

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTOR: Mr S R Coates





SECRETARY: Miss J E York





REGISTERED OFFICE: 5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU





REGISTERED NUMBER: 04611645 (England and Wales)





ACCOUNTANTS: Fortus Limited
Business Advisors & Accountants
5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU

SRC CONSTRUCTION AND PAVING LTD (REGISTERED NUMBER: 04611645)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,560 49,549

CURRENT ASSETS
Stocks 7,500 7,500
Debtors 5 1,520,897 1,754,825
Cash at bank 460,640 437,170
1,989,037 2,199,495
CREDITORS
Amounts falling due within one year 6 263,565 570,528
NET CURRENT ASSETS 1,725,472 1,628,967
TOTAL ASSETS LESS CURRENT LIABILITIES 1,764,032 1,678,516

PROVISIONS FOR LIABILITIES 7 9,640 12,387
NET ASSETS 1,754,392 1,666,129

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,754,390 1,666,127
SHAREHOLDERS' FUNDS 1,754,392 1,666,129

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 July 2024 and were signed by:



Mr S R Coates - Director


SRC CONSTRUCTION AND PAVING LTD (REGISTERED NUMBER: 04611645)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023


1. STATUTORY INFORMATION

SRC Construction and Paving Ltd 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

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.
Leasehold property - Straight line over 30 years
Plant and machinery - 25% on reducing balance
Office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SRC CONSTRUCTION AND PAVING LTD (REGISTERED NUMBER: 04611645)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 14,050 262,475 276,525
Additions - 1,871 1,871
At 31 December 2023 14,050 264,346 278,396
DEPRECIATION
At 1 January 2023 14,050 212,926 226,976
Charge for year - 12,860 12,860
At 31 December 2023 14,050 225,786 239,836
NET BOOK VALUE
At 31 December 2023 - 38,560 38,560
At 31 December 2022 - 49,549 49,549

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 14,467 248,278
Other debtors 1,506,430 1,506,547
1,520,897 1,754,825

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 187,647 485,743
Taxation and social security 75,739 83,685
Other creditors 179 1,100
263,565 570,528

SRC CONSTRUCTION AND PAVING LTD (REGISTERED NUMBER: 04611645)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 9,640 12,387

Deferred
tax
£   
Balance at 1 January 2023 12,387
Provided during year (2,747 )
Balance at 31 December 2023 9,640