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Registration number: 10599384

Amicus Construction Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Amicus Construction Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Amicus Construction Limited

Company Information

Directors

Mr S Charleston

Mr A Siechnyi

Registered office

2C Nightingale Road
Wendover
Aylesbury
HP22 6JX

Accountants

Harney & Co Limited
Chartered Certified Accountants
58 Kinson Road
Bournemouth
Dorset
BH10 4AN

 

Amicus Construction Limited

(Registration number: 10599384)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

45,432

13,899

Current assets

 

Stocks

5

250

250

Debtors

6

218,148

262,983

Cash at bank and in hand

 

48,689

74,582

 

267,087

337,815

Creditors: Amounts falling due within one year

7

(57,271)

(90,944)

Net current assets

 

209,816

246,871

Total assets less current liabilities

 

255,248

260,770

Provisions for liabilities

(2,061)

(2,615)

Net assets

 

253,187

258,155

Capital and reserves

 

Called up share capital

8

1,000

100

Retained earnings

252,187

258,055

Shareholders' funds

 

253,187

258,155

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.

Directors' 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 directors acknowledge their 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.

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.

 

Amicus Construction Limited

(Registration number: 10599384)
Balance Sheet as at 31 March 2024 (continued)











 

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

.........................................
Mr S Charleston
Director

.........................................
Mr A Siechnyi
Director

 

Amicus Construction Limited

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:
2C Nightingale Road
Wendover
Aylesbury
HP22 6JX

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 prepared in sterling which is the functional currency of the company and rounded to the nearest £1.

Going concern

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

Revenue recognition

Revenue from construction contracts is recognised when it is probable that economic benefits will flow to the company and the revenue can be reliably measures. Revenue is measured at the fair value of the consideration received or receivable, net of any trade discounts allowed by the company, sales/value added tax, returns and rebates.

Contract revenue recognition

Revenue is recognised progressively based on the stage of completion of the contract activity at the reporting date. The stage of completion is determined with consideration of the proportion of contact costs incurred for work performed to date relating to the estimated total contract costs, and the completion of the physical proportion of the contract work. Revenue is recognised only when the stage of work completed has been inspected and approved by the relevant parties, ensuring that the applicable performance obligations have been met.

 

Amicus Construction Limited

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

Office equipment

30% straight line

Plant and machinery

25% reducing balance

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.

 

Amicus Construction Limited

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

2

Accounting policies (continued)

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

Financial instruments

The company has basic financial instruments which are classified, measured and accounted for according to the substance of the contractual arrangement, as financial assets or financial liabilities. The company has not entered into any complex financial instruments.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Amicus Construction Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

3,787

23,990

3,147

30,924

Additions

2,127

45,000

216

47,343

Disposals

(589)

-

-

(589)

At 31 March 2024

5,325

68,990

3,363

77,678

Depreciation

At 1 April 2023

2,209

13,026

1,790

17,025

Charge for the year

1,426

13,991

393

15,810

Eliminated on disposal

(589)

-

-

(589)

At 31 March 2024

3,046

27,017

2,183

32,246

Carrying amount

At 31 March 2024

2,279

41,973

1,180

45,432

At 31 March 2023

1,578

10,964

1,357

13,899

5

Stocks

2024
£

2023
£

Other inventories

250

250

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

10,922

Prepayments

189

285

Other debtors

217,959

251,776

 

218,148

262,983

 

Amicus Construction Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

9,935

3,881

Taxation and social security

42,009

28,925

Accruals and deferred income

3,410

58,138

Other creditors

1,917

-

57,271

90,944

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

100

100

       

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £1,200.00 per each Ordinary shares

120,000

120,000

 

 

10

Related party transactions

 

Amicus Construction Limited

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

10

Related party transactions (continued)

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr S Charleston

Transactions during the year. Interest was charged at the official rate of interest on the overdrawn balance.

9,685

71,042

(66,312)

14,414

Mr A Siechnyi

Transactions during the year. Interest was charged at the official rate of interest on the overdrawn balance.

22,185

64,513

(54,312)

32,387

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr S Charleston

Transactions during the year. Interest was charged at the official rate of interest on the overdrawn balance.

9,702

-

(17)

9,685

Mr A Siechnyi

Transactions during the year. Interest was charged at the official rate of interest on the overdrawn balance.

58,386

47,799

(84,000)

22,185