F S Projects (Yorkshire) Limited 10179194 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is is that of sub-contract bricklayers and brick barrons. Digita Accounts Production Advanced 6.30.9574.0 true true 10179194 2023-04-01 2024-03-31 10179194 2024-03-31 10179194 bus:OrdinaryShareClass1 2024-03-31 10179194 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 10179194 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 10179194 core:CurrentFinancialInstruments 2024-03-31 10179194 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10179194 core:Non-currentFinancialInstruments 2024-03-31 10179194 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 10179194 core:FurnitureFittings 2024-03-31 10179194 core:MotorVehicles 2024-03-31 10179194 core:PlantMachinery 2024-03-31 10179194 bus:SmallEntities 2023-04-01 2024-03-31 10179194 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10179194 bus:FullAccounts 2023-04-01 2024-03-31 10179194 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10179194 bus:RegisteredOffice 2023-04-01 2024-03-31 10179194 bus:Director1 2023-04-01 2024-03-31 10179194 bus:Director2 2023-04-01 2024-03-31 10179194 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 10179194 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10179194 core:FurnitureFittings 2023-04-01 2024-03-31 10179194 core:MotorVehicles 2023-04-01 2024-03-31 10179194 core:OfficeEquipment 2023-04-01 2024-03-31 10179194 core:PlantMachinery 2023-04-01 2024-03-31 10179194 countries:AllCountries 2023-04-01 2024-03-31 10179194 2023-03-31 10179194 core:FurnitureFittings 2023-03-31 10179194 core:MotorVehicles 2023-03-31 10179194 core:PlantMachinery 2023-03-31 10179194 2022-04-01 2023-03-31 10179194 2023-03-31 10179194 bus:OrdinaryShareClass1 2023-03-31 10179194 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 10179194 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 10179194 core:CurrentFinancialInstruments 2023-03-31 10179194 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10179194 core:Non-currentFinancialInstruments 2023-03-31 10179194 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 10179194 core:FurnitureFittings 2023-03-31 10179194 core:MotorVehicles 2023-03-31 10179194 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10179194

F S Projects (Yorkshire) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

F S Projects (Yorkshire) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

F S Projects (Yorkshire) Limited

Company Information

Directors

Mr Steven John Hibbert

Mr Alan Richard Billington

Registered office

Unit 18, Dale Court
Off Avenue Lodeve
South Kirkby
Pontefract
West Yorkshire
WF9 3FL

Accountants

Thorntons Accounting Limited
Chartered Certified Accountants
176-178 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

F S Projects (Yorkshire) Limited

(Registration number: 10179194)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

273,511

266,721

Current assets

 

Stocks

5

181,620

-

Debtors

6

850,513

938,658

Cash at bank and in hand

 

1,044,947

647,804

 

2,077,080

1,586,462

Creditors: Amounts falling due within one year

7

(668,580)

(490,821)

Net current assets

 

1,408,500

1,095,641

Total assets less current liabilities

 

1,682,011

1,362,362

Creditors: Amounts falling due after more than one year

7

(119,472)

(192,469)

Net assets

 

1,562,539

1,169,893

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,562,439

1,169,793

Shareholders' funds

 

1,562,539

1,169,893

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 June 2024 and signed on its behalf by:
 

 

F S Projects (Yorkshire) Limited

(Registration number: 10179194)
Balance Sheet as at 31 March 2024

.........................................
Mr Steven John Hibbert
Director

 

F S Projects (Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 18, Dale Court
Off Avenue Lodeve
South Kirkby
Pontefract
West Yorkshire
WF9 3FL

These financial statements were authorised for issue by the Board on 11 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

F S Projects (Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible 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

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

15% straight line

Motor vehicles

25% reducing balance

Pland and machinery

15% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the 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.

 

F S Projects (Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

F S Projects (Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 4).

 

F S Projects (Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

6,226

310,913

24,514

341,653

Additions

6,089

44,000

20,000

70,089

At 31 March 2024

12,315

354,913

44,514

411,742

Depreciation

At 1 April 2023

2,117

64,236

8,579

74,932

Charge for the year

1,648

52,667

8,984

63,299

At 31 March 2024

3,765

116,903

17,563

138,231

Carrying amount

At 31 March 2024

8,550

238,010

26,951

273,511

At 31 March 2023

4,109

246,677

15,935

266,721

5

Stocks

2024
£

2023
£

Work in progress

181,620

-

6

Debtors

2024
£

2023
£

Trade debtors

633,324

663,932

Other debtors

217,189

274,726

850,513

938,658

7

Creditors

Creditors: amounts falling due within one year

 

F S Projects (Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

46,102

168,480

Taxation and social security

 

350,675

194,473

Accruals and deferred income

 

235,152

86,323

Other creditors

 

36,651

41,545

 

668,580

490,821

 

F S Projects (Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

119,472

192,469

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

113,768

185,988

Hire purchase contracts

5,704

6,481

119,472

192,469

2024
£

2023
£

Current loans and borrowings

Bank borrowings

20,000

20,000

Hire purchase contracts

2,853

4,930

Other borrowings

23,249

143,550

46,102

168,480

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

 

F S Projects (Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2024
£

2023
£

Remuneration

25,140

23,405