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REGISTERED NUMBER: 07809230 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2024

for

SAS CONSTRUCT-IT LIMITED

SAS CONSTRUCT-IT LIMITED (REGISTERED NUMBER: 07809230)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SAS CONSTRUCT-IT LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: P D Sims
R Smith





REGISTERED OFFICE: 100 Church Street
Brighton
East Sussex
BN1 1UJ





REGISTERED NUMBER: 07809230 (England and Wales)





ACCOUNTANTS: Paddenburg & Co Limited
100 Church Street
Brighton
East Sussex
BN1 1UJ

SAS CONSTRUCT-IT LIMITED (REGISTERED NUMBER: 07809230)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 94,145 110,000

CURRENT ASSETS
Stocks 5 9,800 9,800
Debtors 6 13,954 36,674
Cash at bank 18,105 1,687
41,859 48,161
CREDITORS
Amounts falling due within one year 7 67,117 62,771
NET CURRENT LIABILITIES (25,258 ) (14,610 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,887

95,390

CREDITORS
Amounts falling due after more than one
year

8

(16,667

)

(37,451

)

PROVISIONS FOR LIABILITIES 10 (23,536 ) (27,500 )
NET ASSETS 28,684 30,439

CAPITAL AND RESERVES
Called up share capital 8 4
Retained earnings 28,676 30,435
SHAREHOLDERS' FUNDS 28,684 30,439

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

SAS CONSTRUCT-IT LIMITED (REGISTERED NUMBER: 07809230)

Balance Sheet - continued
30 June 2024


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 30 August 2024 and were signed on its behalf by:




P D Sims - Director



R Smith - Director


SAS CONSTRUCT-IT LIMITED (REGISTERED NUMBER: 07809230)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

SAS Construct-It 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.

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 sales value of building contract work carried out, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 33% on reducing balance and 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

SAS CONSTRUCT-IT LIMITED (REGISTERED NUMBER: 07809230)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023 135,745 24,020 3,545 163,310
Additions 550 - - 550
At 30 June 2024 136,295 24,020 3,545 163,860
DEPRECIATION
At 1 July 2023 35,820 16,515 975 53,310
Charge for year 13,675 1,875 855 16,405
At 30 June 2024 49,495 18,390 1,830 69,715
NET BOOK VALUE
At 30 June 2024 86,800 5,630 1,715 94,145
At 30 June 2023 99,925 7,505 2,570 110,000

SAS CONSTRUCT-IT LIMITED (REGISTERED NUMBER: 07809230)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 July 2023 60,579
Transfer to ownership (16,629 )
At 30 June 2024 43,950
DEPRECIATION
At 1 July 2023 17,004
Charge for year 3,630
Transfer to ownership (9,343 )
At 30 June 2024 11,291
NET BOOK VALUE
At 30 June 2024 32,659
At 30 June 2023 43,575

5. STOCKS
2024 2023
£    £   
Stocks 9,800 9,800

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 675 25,406
Other debtors 290 2,390
VAT 10,416 7,270
Prepayments 2,573 1,608
13,954 36,674

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Hire purchase contracts 2,231 15,184
Trade creditors 12,103 13,442
Tax 28,723 21,264
Social security and other taxes (1,997 ) (1,997 )
Directors' loan accounts 14,457 2,678
Accrued expenses 1,600 2,200
67,117 62,771

SAS CONSTRUCT-IT LIMITED (REGISTERED NUMBER: 07809230)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 16,667 26,667
Hire purchase contracts - 10,784
16,667 37,451

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 6,667 16,667

Due to the adverse impact of Covid-19, the company gained a Bank Bounce Back Loan totalling £50,000.

Repayments are due over sixty consecutive months and commence thirteen months after the release of funds in February, 2021.

Total repayment (capital and interest) total £53,322
.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 23,536 27,500

Deferred
tax
£   
Balance at 1 July 2023 27,500
Accelerated capital allowances (3,964 )
Balance at 30 June 2024 23,536

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party as both directors have equal share holding in the company.