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REGISTERED NUMBER: 05449066 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

OWENS CONSTRUCTION LIMITED

OWENS CONSTRUCTION LIMITED (REGISTERED NUMBER: 05449066)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OWENS CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A J Owens
Mrs A J Owens





REGISTERED OFFICE: 61 Station Road
Sudbury
Suffolk
CO10 2SP





REGISTERED NUMBER: 05449066 (England and Wales)





ACCOUNTANTS: Seago and Stopps
Chartered Certified Accountants
61 Station Road
Sudbury
Suffolk
CO10 2SP

OWENS CONSTRUCTION LIMITED (REGISTERED NUMBER: 05449066)

BALANCE SHEET
31 MARCH 2024

31.3.23 31.3.24
£    £    Notes £    £   
FIXED ASSETS
- Intangible assets 4 -
172,090 Tangible assets 5 171,861
172,090 171,861

CURRENT ASSETS
68,000 Stocks 118,000
275,457 Debtors 6 68,900
116,173 Cash at bank and in hand 323,636
459,630 510,536
CREDITORS
217,852 Amounts falling due within one year 7 226,513
241,778 NET CURRENT ASSETS 284,023
413,868 TOTAL ASSETS LESS CURRENT
LIABILITIES

455,884

CREDITORS
(32,740 ) Amounts falling due after more than one
year

8

(16,596

)

(20,177 ) PROVISIONS FOR LIABILITIES (25,535 )
360,951 NET ASSETS 413,753

OWENS CONSTRUCTION LIMITED (REGISTERED NUMBER: 05449066)

BALANCE SHEET - continued
31 MARCH 2024

31.3.23 31.3.24
£    £    Notes £    £   
CAPITAL AND RESERVES
10 Called up share capital 100
360,941 Retained earnings 413,653
360,951 SHAREHOLDERS' FUNDS 413,753

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





Mrs A J Owens - Director


OWENS CONSTRUCTION LIMITED (REGISTERED NUMBER: 05449066)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Owens Construction Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents the value of work completed during the year, by reference to invoiced sales and the movement between opening and closing work in progress and trade debtor balances.

Intangible assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, has been amortised in full over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Financial instruments
The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

OWENS CONSTRUCTION LIMITED (REGISTERED NUMBER: 05449066)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 12,500
AMORTISATION
At 1 April 2023
and 31 March 2024 12,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS

Assets included within motor vehicles which are financed under hire purchase agreements as at 31st March 2024 have a net book value of £31,461 (2023 - £41,948).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 42,934 257,549
Other debtors 25,966 17,908
68,900 275,457

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 15,080
Hire purchase contracts 6,144 6,144
Trade creditors 54,059 37,078
Taxation and social security 138,623 135,621
Other creditors 17,687 23,929
226,513 217,852

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 12,500 22,500
Hire purchase contracts 4,096 10,240
16,596 32,740