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REGISTERED NUMBER: 06658798 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Simon Earp Building Contractors Limited

Simon Earp Building Contractors Limited (Registered number: 06658798)






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


Simon Earp Building Contractors Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs S L Earp
S Earp





SECRETARY: Mrs S L Earp





REGISTERED OFFICE: Wisteria House
Sancreed
Penzance
Cornwall
TR20 8RL





REGISTERED NUMBER: 06658798 (England and Wales)





ACCOUNTANTS: Sovereign Accounting Solutions
Chartered Accountants and Business Advisers
Unit 9
Moorland Road Industrial Park
Moorland Road, Indian Queens
St Columb
Cornwall
TR9 6FB

Simon Earp Building Contractors Limited (Registered number: 06658798)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 60,000 59,000
Tangible assets 5 104,142 57,779
164,142 116,779

CURRENT ASSETS
Stocks 400 400
Debtors 6 450,523 121,402
Cash at bank 1 1
450,924 121,803
CREDITORS
Amounts falling due within one year 7 440,849 83,664
NET CURRENT ASSETS 10,075 38,139
TOTAL ASSETS LESS CURRENT
LIABILITIES

174,217

154,918

CREDITORS
Amounts falling due after more than one
year

8

(100,867

)

(84,333

)

PROVISIONS FOR LIABILITIES (12,337 ) (10,978 )
NET ASSETS 61,013 59,607

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 60,000 59,000
Retained earnings 913 507
SHAREHOLDERS' FUNDS 61,013 59,607

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.

Simon Earp Building Contractors Limited (Registered number: 06658798)

Balance Sheet - continued
31 March 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 16 August 2024 and were signed on its behalf by:





Mrs S L Earp - Director


Simon Earp Building Contractors Limited (Registered number: 06658798)

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

1. STATUTORY INFORMATION

Simon Earp Building Contractors 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is recognised as the market value attributed to the current value of the company's recurring profits before depreciation.

An annual revaluation policy has been applied, with excess gains or losses recognised within the Revaluation Reserve. Due to the adopted revaluation policy, the Directors are of the opinion that an amortisation charge would be inappropriate.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 25% on reducing balance, 20% on reducing balance and 15% 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.


Simon Earp Building Contractors Limited (Registered number: 06658798)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST OR VALUATION
At 1 April 2023 59,000
Revaluations 1,000
At 31 March 2024 60,000
NET BOOK VALUE
At 31 March 2024 60,000
At 31 March 2023 59,000

Cost or valuation at 31 March 2024 is represented by:

Goodwill
£   
Valuation in 2020 211,000
Valuation in 2021 (83,500 )
Valuation in 2022 (84,500 )
Valuation in 2023 16,000
Valuation in 2024 1,000
60,000

Simon Earp Building Contractors Limited (Registered number: 06658798)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 116,846
Additions 101,827
Disposals (33,944 )
At 31 March 2024 184,729
DEPRECIATION
At 1 April 2023 59,067
Charge for year 30,006
Eliminated on disposal (8,486 )
At 31 March 2024 80,587
NET BOOK VALUE
At 31 March 2024 104,142
At 31 March 2023 57,779

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 81,754
Additions 99,271
Disposals (33,944 )
At 31 March 2024 147,081
DEPRECIATION
At 1 April 2023 29,402
Charge for year 28,596
Eliminated on disposal (8,486 )
At 31 March 2024 49,512
NET BOOK VALUE
At 31 March 2024 97,569
At 31 March 2023 52,352

Simon Earp Building Contractors Limited (Registered number: 06658798)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 417,904 19,757
Other debtors 32,619 101,645
450,523 121,402

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 3,706 1,590
Hire purchase contracts 21,583 12,864
Trade creditors 21,613 5,480
Taxation and social security 9,629 35,502
Other creditors 384,318 28,228
440,849 83,664

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 92,576 52,592
Other creditors 8,291 31,741
100,867 84,333

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdrafts 3,706 1,590
Hire purchase contracts 114,159 65,456
117,865 67,046

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023 59,000
Revaluation 1,000

At 31 March 2024 60,000