Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 07467640 Mr Thomas Dean Mr Jordan Dean iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07467640 2022-12-31 07467640 2023-12-31 07467640 2023-01-01 2023-12-31 07467640 frs-core:CurrentFinancialInstruments 2023-12-31 07467640 frs-core:MotorVehicles 2023-12-31 07467640 frs-core:MotorVehicles 2023-01-01 2023-12-31 07467640 frs-core:MotorVehicles 2022-12-31 07467640 frs-core:PlantMachinery 2023-12-31 07467640 frs-core:PlantMachinery 2023-01-01 2023-12-31 07467640 frs-core:PlantMachinery 2022-12-31 07467640 frs-core:ShareCapital 2023-12-31 07467640 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07467640 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07467640 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07467640 frs-bus:SmallEntities 2023-01-01 2023-12-31 07467640 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07467640 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07467640 frs-bus:Director1 2023-01-01 2023-12-31 07467640 frs-bus:Director1 2022-12-31 07467640 frs-bus:Director1 2023-12-31 07467640 frs-bus:Director2 2023-01-01 2023-12-31 07467640 frs-bus:Director2 2022-12-31 07467640 frs-bus:Director2 2023-12-31 07467640 frs-core:CurrentFinancialInstruments 1 2023-12-31 07467640 frs-countries:EnglandWales 2023-01-01 2023-12-31 07467640 2021-12-31 07467640 2022-12-31 07467640 2022-01-01 2022-12-31 07467640 frs-core:CurrentFinancialInstruments 2022-12-31 07467640 frs-core:ShareCapital 2022-12-31 07467640 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 07467640 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 07467640
2D BUILDING CONTRACTORS LTD
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07467640
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 284,780 225,940
284,780 225,940
CURRENT ASSETS
Stocks 4 5,250 56,128
Debtors 5 807,087 733,414
Cash at bank and in hand 436,099 580,656
1,248,436 1,370,198
Creditors: Amounts Falling Due Within One Year 6 (497,856 ) (628,170 )
NET CURRENT ASSETS (LIABILITIES) 750,580 742,028
TOTAL ASSETS LESS CURRENT LIABILITIES 1,035,360 967,968
NET ASSETS 1,035,360 967,968
CAPITAL AND RESERVES
Called up share capital 7 80 100
Profit and Loss Account 1,035,280 967,868
SHAREHOLDERS' FUNDS 1,035,360 967,968
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Page 2
For the year ending 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Thomas Dean
Director
26/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
1.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 37 (2022: 35)
37 35
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3. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 January 2023 71,840 281,079 352,919
Additions 3,291 128,788 132,079
Disposals - (11,500 ) (11,500 )
As at 31 December 2023 75,131 398,367 473,498
Depreciation
As at 1 January 2023 34,925 92,054 126,979
Provided during the period 9,820 57,758 67,578
Disposals - (5,839 ) (5,839 )
As at 31 December 2023 44,745 143,973 188,718
Net Book Value
As at 31 December 2023 30,386 254,394 284,780
As at 1 January 2023 36,915 189,025 225,940
4. Stocks
2023 2022
£ £
Stock and work in progress 5,250 56,128
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 734,798 588,945
Prepayments and accrued income 22,677 20,774
Other debtors 30,000 -
Directors' loan accounts 19,612 123,695
807,087 733,414
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 183,016 170,376
Corporation tax 50,633 105,711
Other taxes and social security 38,029 33,771
VAT 201,425 269,482
Credit card 17,700 -
Pensions payable 5,102 5,442
Accruals and deferred income 1,500 6,000
Directors' loan accounts 451 37,388
497,856 628,170
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7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 80 100
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Thomas Dean 37,388 (57,000 ) - - (19,612 )
Mr Jordan Dean (123,695 ) (55,854 ) 180,000 - 451
The above loan is unsecured, interest free and repayable on demand.
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