Registered number
08984035
Steven Smith Construction Limited
Filleted Accounts
30 April 2024
Steven Smith Construction Limited
Registered number: 08984035
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,421 32,917
Current assets
Debtors 4 45,880 3,468
Cash at bank and in hand 91,906 120,728
137,786 124,196
Creditors: amounts falling due within one year 5 (24,785) (43,068)
Net current assets 113,001 81,128
Total assets less current liabilities 122,422 114,045
Creditors: amounts falling due after more than one year 6 (626) -
Provisions for liabilities (1,790) (2,183)
Net assets 120,006 111,862
Capital and reserves
Called up share capital 100 100
Profit and loss account 119,906 111,762
Shareholder's funds 120,006 111,862
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr S Smith
Director
Approved by the board on 18 September 2024
Steven Smith Construction Limited
Notes to the Accounts
for the year ended 30 April 2024
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.
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 Vehicles 18% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 May 2023 48,275
Disposals (21,428)
At 30 April 2024 26,847
Depreciation
At 1 May 2023 15,358
Charge for the year 2,068
At 30 April 2024 17,426
Net book value
At 30 April 2024 9,421
At 30 April 2023 32,917
4 Debtors 2024 2023
£ £
Trade debtors 2,880 3,468
Other debtors 43,000 -
45,880 3,468
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 7,182 5,708
Taxation and social security costs 16,805 5,332
Other creditors 798 32,028
24,785 43,068
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 626 -
7 Events after the reporting date
There have been no known events since the balance sheet date which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
8 Pension commitments
There are no known pension commitments which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
9 Contingent liabilities
There are no known contingent liabilities which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
10 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr S Smith
[Loan 1] - 43,000 - 43,000
- 43,000 - 43,000
11 Related party transactions
Total dividends of £1000 were paid during the year to Mr S P Smith, director and shareholder of the company. As at the year end the Company owed £626 to Mr S P Smith. The loan is interest free.
12 Controlling party
The company is under the control of Mr S P Smith, being director and shareholder of the company.
13 Other information
Steven Smith Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Old Dairy Farm
Upper Stowe
Northants
NN7 4SH
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