Storm Building and Civil Engineering Ltd 5726900 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is groundworks (now discontinued) and property rental Digita Accounts Production Advanced 6.30.9574.0 true true 5726900 2023-04-01 2024-03-31 5726900 2024-03-31 5726900 bus:OrdinaryShareClass1 2024-03-31 5726900 bus:OrdinaryShareClass2 2024-03-31 5726900 core:OtherReservesSubtotal 2024-03-31 5726900 core:RetainedEarningsAccumulatedLosses 2024-03-31 5726900 core:ShareCapital 2024-03-31 5726900 core:CurrentFinancialInstruments 2024-03-31 5726900 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 5726900 core:Non-currentFinancialInstruments 2024-03-31 5726900 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 5726900 core:FurnitureFittingsToolsEquipment 2024-03-31 5726900 core:MotorVehicles 2024-03-31 5726900 core:OtherPropertyPlantEquipment 2024-03-31 5726900 1 2024-03-31 5726900 bus:SmallEntities 2023-04-01 2024-03-31 5726900 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 5726900 bus:FilletedAccounts 2023-04-01 2024-03-31 5726900 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 5726900 bus:RegisteredOffice 2023-04-01 2024-03-31 5726900 bus:CompanySecretaryDirector2 2023-04-01 2024-03-31 5726900 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 5726900 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 5726900 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 5726900 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 5726900 core:MotorVehicles 2023-04-01 2024-03-31 5726900 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 5726900 core:PlantMachinery 2023-04-01 2024-03-31 5726900 countries:EnglandWales 2023-04-01 2024-03-31 5726900 1 2023-04-01 2024-03-31 5726900 2023-03-31 5726900 core:FurnitureFittingsToolsEquipment 2023-03-31 5726900 core:MotorVehicles 2023-03-31 5726900 core:OtherPropertyPlantEquipment 2023-03-31 5726900 1 2023-03-31 5726900 2022-04-01 2023-03-31 5726900 2023-03-31 5726900 bus:OrdinaryShareClass1 2023-03-31 5726900 bus:OrdinaryShareClass2 2023-03-31 5726900 core:OtherReservesSubtotal 2023-03-31 5726900 core:RetainedEarningsAccumulatedLosses 2023-03-31 5726900 core:ShareCapital 2023-03-31 5726900 core:CurrentFinancialInstruments 2023-03-31 5726900 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 5726900 core:Non-currentFinancialInstruments 2023-03-31 5726900 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 5726900 core:FurnitureFittingsToolsEquipment 2023-03-31 5726900 core:MotorVehicles 2023-03-31 5726900 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 5726900

Storm Building and Civil Engineering Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Storm Building and Civil Engineering Ltd

(Registration number: 5726900)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

568

104,237

Investment property

5

675,000

675,000

 

675,568

779,237

Current assets

 

Debtors

6

57,938

56,006

Cash at bank and in hand

 

314,811

331,550

 

372,749

387,556

Creditors: Amounts falling due within one year

7

(69,446)

(102,269)

Net current assets

 

303,303

285,287

Total assets less current liabilities

 

978,871

1,064,524

Creditors: Amounts falling due after more than one year

7

(284,487)

(284,465)

Provisions for liabilities

(45,595)

(65,258)

Net assets

 

648,789

714,801

Capital and reserves

 

Called up share capital

8

480

480

Fair value reserve

158,276

158,276

Retained earnings

490,033

556,045

Shareholders' funds

 

648,789

714,801

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Storm Building and Civil Engineering Ltd

(Registration number: 5726900)
Balance Sheet as at 31 March 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 August 2024

.........................................

L A Parker

Company secretary and director

 

Storm Building and Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
14 French Mill Lane
Shaftesbury
Dorset
SP7 8EU

These financial statements were authorised for issue by the director on 7 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Storm Building and Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Motor vehicles

25% reducing balance

Fixtures, fittings and equipment

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined regularly by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Storm Building and Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2023 - 5).

 

Storm Building and Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

11,422

128,751

15,000

155,173

Additions

-

51,550

4,215

55,765

Disposals

(3,845)

(180,301)

(19,215)

(203,361)

At 31 March 2024

7,577

-

-

7,577

Depreciation

At 1 April 2023

10,445

28,130

12,361

50,936

Charge for the year

243

25,424

838

26,505

Eliminated on disposal

(3,679)

(53,554)

(13,199)

(70,432)

At 31 March 2024

7,009

-

-

7,009

Carrying amount

At 31 March 2024

568

-

-

568

At 31 March 2023

977

100,621

2,639

104,237

5

Investment properties

2024
£

At 1 April

675,000

At 31 March

675,000

The property was valued by the directors on 31 March 2022, on a current market basis. The director believes this value remains appropriate.

This value was based on a valuation report prepared by the letting agent

 

Storm Building and Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

28,630

Prepayments

943

7,521

Other debtors

56,995

19,855

 

57,938

56,006

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

42,513

43,411

Accruals and deferred income

26,618

15,989

Other creditors

315

42,869

69,446

102,269

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

284,487

284,465


Creditors include bank loans which are secured on the investment properties of £284,487 (2023 - £284,465).

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A shares of £0.01 each

8,000

80

8,000

80

Ordinary B shares of £1 each

400

400

400

400

 

8,400

480

8,400

480

 

Storm Building and Civil Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

284,487

284,465

10

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

The company made loans to directors. The loans were unsecured and repayable on demand.

-

56,996

56,996