REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Chew Valley Construction Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Chew Valley Construction Limited |
Chew Valley Construction Limited (Registered number: 02068614) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chew Valley Construction Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 5 Corum 2 |
Corum Office Park |
Crown Way |
Warmley |
Bristol |
BS30 8FJ |
Chew Valley Construction Limited (Registered number: 02068614) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
Chew Valley Construction Limited (Registered number: 02068614) |
Balance Sheet - continued |
31 March 2024 |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps 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 Sections 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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Chew Valley Construction Limited (Registered number: 02068614) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Chew Valley Construction Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There have been no material departures from the Financial Reporting Standard 102 1A. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
The company recognises revenue when: |
- the amount of revenue can be reliably measured; |
- it is probable that future economic benefits will flow to the entity; |
- and specific criteria have been met for each of the company's activities. |
Tangible fixed assets |
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Improvements to property | - 20% on cost |
Fixtures and fittings | - 25% on cost |
Motor vehicles | - 25% on cost |
Government grants |
Government grants have been recognised on an accruals basis and have been recognised in the same period in which the related expense has been incurred. |
Chew Valley Construction Limited (Registered number: 02068614) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads incurred in bringing inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Chew Valley Construction Limited (Registered number: 02068614) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Motor |
property | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Other debtors |
Chew Valley Construction Limited (Registered number: 02068614) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | OTHER FINANCIAL COMMITMENTS |
Included in the balance sheet are pensions payable of £3,722 (2023 - £3,706). The company participates in a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. |
8. | RELATED PARTY DISCLOSURES |
Loans to related parties |
Key management |
Total |
2024 | £ | £ |
At start of period | 3,918 | 3,918 |
Advanced | 19,657 | 19,657 |
Repaid | (23,575 | ) | (23,575 | ) |
At end of period | - | - |
Key management |
Total |
2023 | £ | £ |
At start of the period | 4,230 | 4,230 |
Advanced | 133,500 | 133,500 |
Repaid | (133,812 | ) | (133,812 | ) |
At end of period | 3,918 | 3,918 |
The loans to key management are repayable on demand and interest is charged on loan balances owing to the company that exceed £10,000. Interest is charged at the HMRC prevailing rate. |
Chew Valley Construction Limited (Registered number: 02068614) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
8. | RELATED PARTY DISCLOSURES - continued |
Loans from related parties |
Key management |
Total |
2024 | £ | £ |
At start of period | 624 | 624 |
Advanced | 4,049 | 4,049 |
Repaid | (2,983 | ) | (2,983 | ) |
At end of period | 1,690 | 1,690 |
Key management |
Total |
2023 | £ | £ |
At start of the period | 37,886 | 37,886 |
Advanced | 17,000 | 17,000 |
Repaid | (27,132 | ) | (27,132 | ) |
At end of period | 624 | 624 |
The loans from key management are interest free and repayable on demand. |