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Registration number: 13078445

Samuels Building Services Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Samuels Building Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Samuels Building Services Limited

Company Information

Director

Mr Peter Samuels

Registered office

4 Aldock Road
Stevenage
Hertfordshire
SG1 3SJ

 

Samuels Building Services Limited

(Registration number: 13078445)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

1,700

-

Tangible assets

5

12,043

15,422

 

13,743

15,422

Current assets

 

Debtors

6

32,792

21,729

Cash at bank and in hand

 

11,998

9,614

 

44,790

31,343

Creditors: Amounts falling due within one year

7

(18,562)

(20,678)

Net current assets

 

26,228

10,665

Total assets less current liabilities

 

39,971

26,087

Creditors: Amounts falling due after more than one year

7

(4,455)

(7,159)

Provisions for liabilities

(2,611)

(2,930)

Net assets

 

32,905

15,998

Capital and reserves

 

Called up share capital

100

100

Retained earnings

32,805

15,898

Shareholders' funds

 

32,905

15,998

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Samuels Building Services Limited

(Registration number: 13078445)
Balance Sheet as at 31 December 2023

Approved and authorised by the director on 4 March 2024
 

.........................................
Mr Peter Samuels
Director

 

Samuels Building Services Limited

Notes to the Unaudited 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 and Wales. .

The address of its registered office is:
4 Aldock Road
Stevenage
Hertfordshire
SG1 3SJ
United Kingdom

These financial statements were authorised for issue by the director on 4 March 2024.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

 

Samuels Building Services Limited

Notes to the Unaudited 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

Motor Vehicles

25% Straight Line

Plant and Machinery

25% Straight Line

Fixtures and fittings

20% Straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intangibles

5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

 

Samuels Building Services Limited

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

Trade debtors

Trade debtors are amounts due from customers for the provision of services in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade debtors are reviewed quarterly for any bad debts and any adjustments are made accordingly through the profit and 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 at the transaction price.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Samuels Building Services Limited

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

4

Intangible assets

Website Development Costs
 £

Total
£

Cost or valuation

Additions acquired separately

1,800

1,800

At 31 December 2023

1,800

1,800

Amortisation

Amortisation charge

100

100

At 31 December 2023

100

100

Carrying amount

At 31 December 2023

1,700

1,700

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant & Machinery
£

Total
£

Cost or valuation

At 1 January 2023

-

16,000

1,170

17,170

Additions

175

-

824

999

At 31 December 2023

175

16,000

1,994

18,169

Depreciation

At 1 January 2023

-

1,667

81

1,748

Charge for the year

6

4,000

372

4,378

At 31 December 2023

6

5,667

453

6,126

Carrying amount

At 31 December 2023

169

10,333

1,541

12,043

At 31 December 2022

-

14,333

1,089

15,422

At the balance sheet date the total net book value of the asset held under a hire purchase agreement was £7,750. The total depreciation charged in the period on this asset was £3,000. The hire purchase agreement is secured on the asset concerned.

 

Samuels Building Services Limited

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

6

Debtors

Current

2023
£

2022
£

Trade debtors

3,384

6,578

Prepayments

1,643

1,093

Other debtors

27,765

14,058

 

32,792

21,729

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

3,674

3,674

Trade creditors

 

2,232

858

Taxation and social security

 

10,797

5,408

Accruals and deferred income

 

1,450

1,450

Other creditors

 

409

9,288

 

18,562

20,678

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

4,455

7,159

Included in loans and borrowings under one year is £3,674 and due over one year is £4,455 in relation to an asset held under a hire purchase agreement. This agreement is secured on the asset concerned.

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

4,455

7,159

 

Samuels Building Services Limited

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

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

3,674

3,674

Details of the hire purchase are included in note 8.

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

10

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £280.00 (2022 - £200.00) per ordinary share

 

28,000

 

20,000

         

11

Related party transactions

Transactions with the director

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr Peter Samuels

Directors loan account

(7,604)

57,502

(50,235)

(337)

         
       

 

 

Samuels Building Services Limited

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

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

Mr Peter Samuels

Directors loan account

100

35,979

(43,683)

(7,604)

         
       

 

Interest is being charged on this loan at 7% and the loan is repayable on demand.

12

Ultimate controlling party

The ultimate controlling party is Mr P Samuels, by virtue of his majority shareholding.