Company registration number 14858363 (England and Wales)
HEEKS BROTHERS BUILDERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
HEEKS BROTHERS BUILDERS LIMITED
COMPANY INFORMATION
Directors
Mr I P Heeks
Mr A J Heeks
Company number
14858363
Registered office
24 Station Road
Pershore
Worcestershire
WR10 1NJ
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
25 Gresham Street
London
EC2V 7HN
HEEKS BROTHERS BUILDERS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
HEEKS BROTHERS BUILDERS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HEEKS BROTHERS BUILDERS LIMITED FOR THE PERIOD ENDED 31 MAY 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Heeks Brothers Builders Limited for the period ended 31 May 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Heeks Brothers Builders Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Heeks Brothers Builders Limited and state those matters that we have agreed to state to the board of directors of Heeks Brothers Builders Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Heeks Brothers Builders Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Heeks Brothers Builders Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Heeks Brothers Builders Limited. You consider that Heeks Brothers Builders Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Heeks Brothers Builders Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
28 August 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
HEEKS BROTHERS BUILDERS LIMITED
BALANCE SHEET
- 2 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
16,509
Current assets
Stocks
18,934
Debtors
4
4,984
Cash at bank and in hand
10,277
34,195
Creditors: amounts falling due within one year
5
(42,009)
Net current liabilities
(7,814)
Total assets less current liabilities
8,695
Provisions for liabilities
6
(3,463)
Net assets
5,232
Capital and reserves
Called up share capital
7
200
Profit and loss reserves
5,032
Total equity
5,232
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 August 2024 and are signed on its behalf by:
Mr I P Heeks
Director
Company registration number 14858363 (England and Wales)
HEEKS BROTHERS BUILDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information
Heeks Brothers Builders Limited is a private company limited by shares incorporated in England and Wales. The registered office is 24 Station Road, Pershore, Worcestershire, WR10 1NJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
HEEKS BROTHERS BUILDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
4
HEEKS BROTHERS BUILDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
- 5 -
3
Tangible fixed assets
Plant and equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 10 May 2023
Additions
3,253
443
17,500
21,196
At 31 May 2024
3,253
443
17,500
21,196
Depreciation and impairment
At 10 May 2023
Depreciation charged in the period
813
148
3,726
4,687
At 31 May 2024
813
148
3,726
4,687
Carrying amount
At 31 May 2024
2,440
295
13,774
16,509
4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
4,984
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
17,995
Taxation and social security
20,879
Other creditors
3,135
42,009
6
Provisions for liabilities
2024
£
Deferred tax liabilities
3,463
HEEKS BROTHERS BUILDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
- 6 -
7
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary A Shares of £1 each
100
100
Ordinary B Shares of £1 each
100
100
200
200
The following shares were allotted and fully paid for cash at par during the period.
100 Ordinary A £1 shares
100 Ordinary B £1 shares
8
Ultimate controlling party
The ultimate controlling party is Mr I P Heeks and Mr A J Heeks.
9
Comparitives
This is the company's first period of trade, therefore there are no comparatives.