A Surman & Co Limited 00575128 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of building contractors. Digita Accounts Production Advanced 6.30.9574.0 true true 00575128 2023-01-01 2023-12-31 00575128 2023-12-31 00575128 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-12-31 00575128 2 2023-12-31 00575128 core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 00575128 core:RetainedEarningsAccumulatedLosses 2023-12-31 00575128 core:ShareCapital 2023-12-31 00575128 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 00575128 core:FurnitureFittings 2023-12-31 00575128 core:MotorVehicles 2023-12-31 00575128 core:PlantMachinery 2023-12-31 00575128 bus:SmallEntities 2023-01-01 2023-12-31 00575128 bus:Audited 2023-01-01 2023-12-31 00575128 bus:FullAccounts 2023-01-01 2023-12-31 00575128 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00575128 bus:RegisteredOffice 2023-01-01 2023-12-31 00575128 bus:Director2 2023-01-01 2023-12-31 00575128 bus:Director3 2023-01-01 2023-12-31 00575128 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 00575128 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-01-01 2023-12-31 00575128 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00575128 core:FurnitureFittings 2023-01-01 2023-12-31 00575128 core:MotorVehicles 2023-01-01 2023-12-31 00575128 core:PlantMachinery 2023-01-01 2023-12-31 00575128 1 2023-01-01 2023-12-31 00575128 countries:AllCountries 2023-01-01 2023-12-31 00575128 2022-12-31 00575128 core:FurnitureFittings 2022-12-31 00575128 core:MotorVehicles 2022-12-31 00575128 core:PlantMachinery 2022-12-31 00575128 2022-01-01 2022-12-31 00575128 2022-12-31 00575128 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-12-31 00575128 2 2022-12-31 00575128 core:AcceleratedTaxDepreciationDeferredTax 2022-12-31 00575128 core:RetainedEarningsAccumulatedLosses 2022-12-31 00575128 core:ShareCapital 2022-12-31 00575128 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 00575128 core:FurnitureFittings 2022-12-31 00575128 core:MotorVehicles 2022-12-31 00575128 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00575128

A Surman & Co Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

A Surman & Co Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

A Surman & Co Limited

Company Information

Directors

A P Dalton

J M Dalton

Registered office

Newton Place
Handsworth
Birmingham
B18 5JX

Auditors

Bissell & Brown Midlands Ltd
Statutory Auditor
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ

 

A Surman & Co Limited

(Registration number: 00575128)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

176,437

135,886

Current assets

 

Stocks

6

2,168

7,138

Debtors

7

2,507,238

3,194,086

Cash at bank and in hand

 

321,852

956,549

 

2,831,258

4,157,773

Creditors: Amounts falling due within one year

8

(2,187,164)

(3,413,413)

Net current assets

 

644,094

744,360

Total assets less current liabilities

 

820,531

880,246

Provisions for liabilities

(44,104)

(25,643)

Net assets

 

776,427

854,603

Capital and reserves

 

Called up share capital

9

1,000

1,000

Profit and loss account

775,427

853,603

Total equity

 

776,427

854,603

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report or the Profit and Loss Account has been taken.

Approved and authorised by the Board on 16 May 2024 and signed on its behalf by:
 

.........................................
A P Dalton
Director

.........................................
J M Dalton
Director

 
     
 

A Surman & Co Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales. The company's registration number is 00575128.

The address of its registered office is:
Newton Place
Handsworth
Birmingham
B18 5JX

These financial statements were authorised for issue by the Board on 16 May 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 10 June 2024 was John James Taheny, who signed for and on behalf of Bissell & Brown Midlands Ltd.

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

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.

 

A Surman & Co Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

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.

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

25% reducing balances

Fixtures and fittings

25%-33% Straight line

Motor vehicles

25% reducing balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

 

A Surman & Co Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

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.

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.

Where the arrangement with a trade debtor constitutes a financing transaction, the debtor is initially and subsequently measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

A provision for impairment of trade debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss.

Where the arrangement with a trade creditor constitutes a financing transaction, the creditor is initially and subsequently measured at the present value of future payments discounted at a market rate of interest for a similar instrument.

3

Staff numbers

The average number of persons employed (including directors) during the year was 18 (2022 - 17).

4

Taxation

Deferred tax

Deferred tax assets and liabilities

2023

Liability
£

Accelerated tax depreciation

44,109

   
 

A Surman & Co Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

4

Taxation (continued)

2022

Liability
£

Accelerated tax depreciation

25,643

   

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

48,160

53,832

237,670

339,662

Additions

24,921

10,960

76,190

112,071

Disposals

-

-

(34,745)

(34,745)

At 31 December 2023

73,081

64,792

279,115

416,988

Depreciation

At 1 January 2023

37,015

28,004

138,757

203,776

Charge for the year

13,224

9,215

42,008

64,447

Eliminated on disposal

-

-

(27,672)

(27,672)

At 31 December 2023

50,239

37,219

153,093

240,551

Carrying amount

At 31 December 2023

22,842

27,573

126,022

176,437

At 31 December 2022

11,145

25,828

98,913

135,886

6

Stocks

2023
£

2022
£

Raw materials and consumables

2,168

7,138

 

A Surman & Co Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

1,800,443

2,260,006

Amounts owed by related parties

12,410

-

Other debtors

 

20,473

24,138

Prepayments

 

85,685

74,942

Gross amount due from customers for contract work

 

585,510

835,000

Income tax asset

2,717

-

 

2,507,238

3,194,086

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

1,423,069

1,555,000

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

596,542

Taxation and social security

 

580,473

791,153

Other creditors

 

12,245

14,744

Accrued expenses

 

171,377

126,485

Corporation tax liability

 

-

329,489

 

2,187,164

3,413,413


HSBC Bank PLC holds a Fixed and floating charge over the undertaking and all property and assets present and future including goodwill book debts uncalled capital buildings fixtures fixed plant and machinery.

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares share of £1 each

1,000

1,000

1,000

1,000

         

Rights, preferences and restrictions

Ordinary shares have the following rights, preferences and restrictions:
Holders of the ordinary share capital have a right to vote and receive dividends.

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

 

A Surman & Co Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

10

Financial commitments, guarantees and contingencies (continued)

The total amount of financial commitments not included in the balance sheet is £24,667 (2022 - £28,469).

11

Parent and ultimate parent undertaking

The company's immediate parent is Bert Dalton Holdings Ltd, incorporated in England.