Birdwood Construction Ltd 09858445 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of the provision of construction services. Digita Accounts Production Advanced 6.30.9574.0 true 09858445 2023-01-01 2023-12-31 09858445 2023-12-31 09858445 bus:OrdinaryShareClass1 2023-12-31 09858445 core:CurrentFinancialInstruments 2023-12-31 09858445 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09858445 core:Non-currentFinancialInstruments 2023-12-31 09858445 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 09858445 core:MotorVehicles 2023-12-31 09858445 core:OtherPropertyPlantEquipment 2023-12-31 09858445 bus:SmallEntities 2023-01-01 2023-12-31 09858445 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09858445 bus:FullAccounts 2023-01-01 2023-12-31 09858445 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09858445 bus:RegisteredOffice 2023-01-01 2023-12-31 09858445 bus:Director1 2023-01-01 2023-12-31 09858445 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 09858445 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09858445 core:MotorVehicles 2023-01-01 2023-12-31 09858445 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 09858445 core:PlantMachinery 2023-01-01 2023-12-31 09858445 countries:England 2023-01-01 2023-12-31 09858445 2022-12-31 09858445 core:MotorVehicles 2022-12-31 09858445 core:OtherPropertyPlantEquipment 2022-12-31 09858445 2022-01-01 2022-12-31 09858445 2022-12-31 09858445 bus:OrdinaryShareClass1 2022-12-31 09858445 core:CurrentFinancialInstruments 2022-12-31 09858445 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 09858445 core:Non-currentFinancialInstruments 2022-12-31 09858445 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 09858445 core:MotorVehicles 2022-12-31 09858445 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09858445

Birdwood Construction Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Birdwood Construction Ltd

(Registration number: 09858445)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

48,633

63,708

Current assets

 

Stocks

6

-

2,350

Debtors

7

454,411

319,550

Cash at bank and in hand

 

169,805

94,884

 

624,216

416,784

Creditors: Amounts falling due within one year

8

(172,663)

(57,639)

Net current assets

 

451,553

359,145

Total assets less current liabilities

 

500,186

422,853

Creditors: Amounts falling due after more than one year

8

(14,007)

(24,340)

Provisions for liabilities

(7,134)

(9,864)

Net assets

 

479,045

388,649

Capital and reserves

 

Called up share capital

9

10

10

Retained earnings

479,035

388,639

Shareholders' funds

 

479,045

388,649

 

Birdwood Construction Ltd

(Registration number: 09858445)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 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.

Approved and authorised by the Board on 23 August 2024 and signed on its behalf by:
 


I R Bird
Director

 

Birdwood Construction Ltd

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.

The address of its registered office is:
22 St Georges Street
Stamford
Lincolnshire
PE9 2BU

The principal place of business is:
Barrons Farm
60 Stowgate
Deeping St James
Peterborough
Cambridgeshire
PE6 8RW

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.

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.

 

Birdwood Construction Ltd

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

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 equipment

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.

 

Birdwood Construction Ltd

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

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.

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.

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 directors) during the year, was 2 (2022 - 2).

 

Birdwood Construction Ltd

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

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

16,075

21,239

5

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

34,604

100,867

135,471

Additions

-

1,000

1,000

At 31 December 2023

34,604

101,867

136,471

Depreciation

At 1 January 2023

26,642

45,121

71,763

Charge for the year

1,991

14,084

16,075

At 31 December 2023

28,633

59,205

87,838

Carrying amount

At 31 December 2023

5,971

42,662

48,633

At 31 December 2022

7,962

55,746

63,708

6

Stocks

2023
£

2022
£

Other inventories

-

2,350

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

166,013

33,883

Amounts owed by related parties

280,000

280,000

Prepayments

 

281

306

Other debtors

 

8,117

5,361

   

454,411

319,550

 

Birdwood Construction Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

10

10,160

9,827

Trade creditors

 

126,342

21,454

Taxation and social security

 

1,087

6,171

Other creditors

 

35,074

20,187

 

172,663

57,639

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

14,007

24,340

Creditors due after more than one year include Bounce Back Loan of £13,846 (2022 - £24,340). Interest at 2.5% per annum is charged.

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

         
 

Birdwood Construction Ltd

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

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

14,007

24,340

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,160

9,827