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REGISTERED NUMBER: 04763746 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

TOUGH BUILDERS LTD

TOUGH BUILDERS LTD (REGISTERED NUMBER: 04763746)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TOUGH BUILDERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: I J Tough





REGISTERED OFFICE: Ty Coed Wenallt Road
Thornhill
Caerphilly
Mid Glamorgan
CF83 1ND





REGISTERED NUMBER: 04763746 (England and Wales)





ACCOUNTANTS: Baker Knoyle Chartered Accountants
Orbit Business Centre
Merthyr Tydfil
CF48 1DL

TOUGH BUILDERS LTD (REGISTERED NUMBER: 04763746)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 98,216 75,194

CURRENT ASSETS
Stocks 16,450 6,800
Debtors 5 32,172 10,031
Cash at bank 71,449 26,765
120,071 43,596
CREDITORS
Amounts falling due within one year 6 52,821 23,341
NET CURRENT ASSETS 67,250 20,255
TOTAL ASSETS LESS CURRENT
LIABILITIES

165,466

95,449

CREDITORS
Amounts falling due after more than one
year

7

(62,815

)

(16,873

)

PROVISIONS FOR LIABILITIES (24,554 ) (14,287 )
NET ASSETS 78,097 64,289

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 77,997 64,189
SHAREHOLDERS' FUNDS 78,097 64,289

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

TOUGH BUILDERS LTD (REGISTERED NUMBER: 04763746)

BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 October 2024 and were signed by:





I J Tough - Director


TOUGH BUILDERS LTD (REGISTERED NUMBER: 04763746)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Tough Builders Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
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 items.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

TOUGH BUILDERS LTD (REGISTERED NUMBER: 04763746)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2023 24,495 6,886 82,273 113,654
Additions 1,757 566 103,479 105,802
Disposals - - (78,714 ) (78,714 )
At 31 May 2024 26,252 7,452 107,038 140,742
DEPRECIATION
At 1 June 2023 15,201 3,931 19,328 38,460
Charge for year 2,399 682 17,881 20,962
Eliminated on disposal - - (16,896 ) (16,896 )
At 31 May 2024 17,600 4,613 20,313 42,526
NET BOOK VALUE
At 31 May 2024 8,652 2,839 86,725 98,216
At 31 May 2023 9,294 2,955 62,945 75,194

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,480 -
Other debtors 5,172 10,031
Directors' current accounts 17,520 -
32,172 10,031

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,949 5,794
Hire purchase contracts 6,047 4,167
Trade creditors 24,447 9,807
Tax 1,688 -
Social security and other taxes 1,475 566
VAT 11,097 483
Directors' current accounts - 380
Accrued expenses 2,118 2,144
52,821 23,341

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 6,602 12,706
Hire purchase contracts 56,213 4,167
62,815 16,873

TOUGH BUILDERS LTD (REGISTERED NUMBER: 04763746)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

9. RESERVES
Retained
earnings
£   

At 1 June 2023 64,189
Profit for the year 23,808
Dividends (10,000 )
At 31 May 2024 77,997

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
I J Tough
Balance outstanding at start of year (380 ) (2,910 )
Amounts advanced 47,708 26,934
Amounts repaid (29,808 ) (24,404 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,520 (380 )