Registered number
08827694
SHMS Contracting (Southern) Ltd
Filleted Accounts
31 December 2023
SHMS Contracting (Southern) Ltd
Profit and Loss Account
for the year ended 31 December 2023
2023 2022
£ £
Turnover 2,315,844 2,132,115
Cost of sales (2,260,972) (2,102,211)
Gross profit 54,872 29,904
Administrative expenses (53,285) (28,299)
Operating profit 1,587 1,605
Interest receivable - 5
Interest payable (739) (989)
Profit on ordinary activities before taxation 848 621
Tax on profit on ordinary activities (161) (118)
Profit for the financial year 687 503
SHMS Contracting (Southern) Ltd
Registered number: 08827694
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 16,335 6,600
Cash at bank and in hand 17,982 32,756
34,317 39,356
Creditors: amounts falling due within one year 4 (16,413) (12,139)
Net current assets 17,904 27,217
Total assets less current liabilities 17,904 27,217
Creditors: amounts falling due after more than one year 5 (14,167) (24,167)
Net assets 3,737 3,050
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,637 2,950
Shareholders' funds 3,737 3,050
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.
S Humphreys
Director
Approved by the board on 26 September 2024
SHMS Contracting (Southern) Ltd
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.
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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Debtors 2023 2022
£ £
Trade debtors (665) 6,600
Other debtors 17,000 -
16,335 6,600
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Corporation tax 161 118
Other taxes and social security costs 4,851 1,181
Other creditors 1,401 840
16,413 12,139
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 14,167 24,167
6 Other information
SHMS Contracting (Southern) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
SHMS House
20 Little Park Farm Road
Fareham
Hants
PO15 5TD
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