2023-01-01 01038060 2023-12-31 01038060 2023-01-01 2023-12-31 01038060 2022-12-31 01038060 2022-01-01 2022-12-31 01038060 uk-core:WithinOneYear 2022-12-31 01038060 uk-core:WithinOneYear 2023-12-31 01038060 uk-core:AfterOneYear 2022-12-31 01038060 uk-core:AfterOneYear 2023-12-31 01038060 uk-core:ShareCapital 2023-12-31 01038060 uk-core:ShareCapital 2022-12-31 01038060 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 01038060 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 01038060 uk-bus:Director1 2023-01-01 2023-12-31 01038060 uk-bus:Director2 2023-01-01 2023-12-31 01038060 uk-core:Buildings 2023-01-01 2023-12-31 01038060 uk-core:PlantMachinery 2023-01-01 2023-12-31 01038060 uk-core:PlantMachinery 2022-12-31 01038060 uk-core:Buildings 2022-12-31 01038060 uk-core:Buildings 2023-12-31 01038060 uk-core:PlantMachinery 2023-12-31 iso4217:GBP xbrli:pure 01038060 uk-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 01038060 uk-bus:FRS102 2023-01-01 2023-12-31 01038060 uk-bus:FilletedAccounts 2023-01-01 2023-12-31 01038060 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
Simpsons Excavating Contractors (Woolacombe) Limited
Registered Number:01038060
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2023
Simpsons Excavating Contractors (Woolacombe) Limited
Contents Page
1 to 2
Statement of Financial Position
3 to 6
Notes to the Financial Statements
3
Registered Number :
01038060
As at 31 December 2023
Simpsons Excavating Contractors (Woolacombe) Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
152,535
123,921
2
152,535
123,921
Current assets
Inventories
22,134
34,745
3
Trade and other receivables
77,797
56,355
4
79,496
Cash and cash equivalents
82,801
173,901
179,427
Trade and other payables: amounts falling due within
one year
(100,013)
(95,452)
5
79,414
78,449
Net current assets
Total assets less current liabilities
230,984
203,335
Trade and other payables: amounts falling due after
more than one year
(9,695)
-
6
(22,120)
(16,911)
Provisions for liabilities
208,864
Net assets
176,729
Capital and reserves
Called up share capital
500
500
Retained earnings
208,364
176,229
208,864
176,729
Shareholders' funds
For the year ended 31 December 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
01038060
For the year ended 31 December 2023
Simpsons Excavating Contractors (Woolacombe) Limited
Statement of Financial Position Continued
Mrs A J Pinkney Director
Mr A R Packer Director
These financial statements were approved and authorised for issue by the Board on 25 September 2024 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 December 2023
Simpsons Excavating Contractors (Woolacombe) Limited
Notes to the Financial Statements
Statutory Information
Simpsons Excavating Contractors (Woolacombe) Limited is a private limited company, limited by shares,
domiciled in England and Wales, registration number 01038060.
Registered address:
Chilworth
Station Road
Woolacombe
Devon
EX34 7HH
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic
of Ireland' and the Companies Act 2006. The financial statements have been prepared under the
historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings
1% Straight line
Plant and machinery
12% Straight line
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
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6
For the year ended 31 December 2023
Simpsons Excavating Contractors (Woolacombe) Limited
Notes to the Financial Statements Continued
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under hire purchase contracts are depreciated over their useful lives. Obligations under such agreement are included in the creditors net of finance charge allocated to future periods. The finance element of the payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
2. Property, plant and equipment
Total
Plant and
machinery
Land and
buildings
£
£
£
Cost or
valuation
At 01 January 2023
246,796
209,921
36,875
53,395
53,395
-
Additions
(18,300)
-
Disposals
(18,300)
At 31 December 2023
36,875
245,016
281,891
Provision for depreciation and impairment
At 01 January 2023
122,875
114,873
8,002
Charge for year
24,271
23,902
369
(17,790)
(17,790)
-
On disposal
At 31 December 2023
129,356
120,985
8,371
At 31 December 2023
Net book value
28,504
124,031
152,535
At 31 December 2022
28,873
95,048
123,921
The net book value of plant and equipment includes £51,520 (2022 £61,180) held under finance lease or
hire purchase contracts. The amount of depreciation in respect of such assets amounted to £9,660 for the
year (2022 £9,660).
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For the year ended 31 December 2023
Simpsons Excavating Contractors (Woolacombe) Limited
Notes to the Financial Statements Continued
3. Inventories
2022
2023
£
£
Stocks
34,745
22,134
Inventories are valued at the lower of cost and selling price less costs to complete and sell. Cost is defined as the actual cost of materials. Provision is made for obsolete and slow-moving items. In respect of work in progress this is the percentage of any sales contract that has been completed within the year but invoiced after the year end and is based on the sales invoice total.
4. Trade and other receivables
2022
2023
£
£
Trade debtors
53,721
73,692
Other debtors
2,634
4,105
77,797
56,355
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
26,638
38,355
Taxation and social security
21,487
13,216
Other creditors
47,327
48,442
95,452
100,013
6. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Other creditors
-
9,695
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For the year ended 31 December 2023
Simpsons Excavating Contractors (Woolacombe) Limited
Notes to the Financial Statements Continued
7. Related party transactions
The directors continue to provide financial support to the company in the form of their current accounts
as follows:
Director as at as at
01 January 2023 31 Decedmber 2023
£ £
A J Pnkney 10,440 10,440
A R Packer 12,086 12,086
R J Packer 7,066 7,099
Controlling Interest
During the year ended 31 Deccember 2023 the three directors A J Pinkney, A R Packer, and R J Packer
have control by virtue of their combined shareholding of 78% as connected parties.
8. Average number of persons employed
During the year the average number of employees was 6 (2022 : 6)
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