Registered number
04614906
STANPIT BUILDERS LIMITED
Filleted Accounts
31 December 2023
STANPIT BUILDERS LIMITED
Registered number: 04614906
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 14,885 19,847
Current assets
Debtors 5 (25,522) 16,218
Cash at bank and in hand 2,447 1,834
(23,075) 18,052
Creditors: amounts falling due within one year 6 (29,568) (54,014)
Net current liabilities (52,643) (35,962)
Net liabilities (37,758) (16,115)
Capital and reserves
Called up share capital 100 100
Profit and loss account (37,858) (16,215)
Shareholders' funds (37,758) (16,115)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P. Butler
Director
Approved by the board on 8 March 2024
STANPIT BUILDERS LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicle 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 44,000
At 31 December 2023 44,000
Amortisation
At 1 January 2023 44,000
At 31 December 2023 44,000
Net book value
At 31 December 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 8,522 53,684 62,206
At 31 December 2023 8,522 53,684 62,206
Depreciation
At 1 January 2023 8,249 34,110 42,359
Charge for the year 68 4,894 4,962
At 31 December 2023 8,317 39,004 47,321
Net book value
At 31 December 2023 205 14,680 14,885
At 31 December 2022 273 19,574 19,847
5 Debtors 2023 2022
£ £
Trade debtors - 13,854
Directors loan account (25,522) 2,364
(25,522) 16,218
6 Creditors: amounts falling due within one year 2023 2022
£ £
Loans 24,262 34,230
Corporation Tax - (7,865)
Taxation and social security costs (2,070) 883
Value Added Tax - 4,606
Other creditors 7,376 22,160
29,568 54,014
7 Other information
STANPIT BUILDERS LIMITED is a private company limited by shares and incorporated in England.
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