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ASD BUILDERS LIMITED

Registered Number
03111395
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

ASD BUILDERS LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

DOWNS, Andrew Stephen
DOWNS, David Peter
DOWNS, Janet Lydia
DOWNS, Susan Anne

Company Secretary

DOWNS, Andrew Stephen

Registered Address

1 Gemini Court
42a Throwley Way
Sutton
SM1 4AF

Registered Number

03111395 (England and Wales)
ASD BUILDERS LIMITED
Statement of Financial Position
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3155,504145,996
Investment property4420,000420,000
575,504565,996
Current assets
Debtors514,68623,195
Cash at bank and on hand242,927339,364
257,613362,559
Creditors amounts falling due within one year6(52,236)(169,355)
Net current assets (liabilities)205,377193,204
Total assets less current liabilities780,881759,200
Creditors amounts falling due after one year7-(386)
Provisions for liabilities9(93,231)(89,637)
Net assets687,650669,177
Capital and reserves
Called up share capital200200
Revaluation reserve291,277291,277
Profit and loss account396,173377,700
Shareholders' funds687,650669,177
The financial statements were approved and authorised for issue by the Board of Directors on 8 August 2024, and are signed on its behalf by:
DOWNS, David Peter
Director
Registered Company No. 03111395
ASD BUILDERS LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
Turnover policy
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-26
Plant and machinery25-
Vehicles25-
Office Equipment25-
Investment property
Investment property represents the property at 26 Carshalton Road, CR4 4HJ. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors at the year end. The directors' valuation was made on an open market value basis by reference to market evidence of transactions prices for similar properties.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year55
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 March 23159,01827,29054,60115,157256,066
Additions--24,69970825,407
Disposals--(18,001)-(18,001)
At 29 February 24159,01827,29061,29915,865263,472
Depreciation and impairment
At 01 March 2324,46425,85145,15514,600110,070
Charge for year6,1163608,34631615,138
On disposals--(17,240)-(17,240)
At 29 February 2430,58026,21136,26114,916107,968
Net book value
At 29 February 24128,4381,07925,038949155,504
At 28 February 23134,5541,4399,446557145,996
4.Investment property
Investment property represents the property at 26 Carshalton Road, CR4 4HJ. The fair value of the investment property has been arrived at on the basis of a valuations carried out by the directors at the year end. The directors' valuation was made on an open market value basis by reference to market evidence of transactions prices for similar properties.

£
Fair value at 01 March 23420,000
At 29 February 24420,000
5.Debtors: amounts due within one year

2024

2023

££
Other debtors14,68623,195
Total14,68623,195
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2,7316,994
Taxation and social security14,93125,535
Finance lease and HP contracts3864,491
Other creditors34,188132,335
Total52,236169,355
7.Creditors: amounts due after one year

2024

2023

££
Other creditors-386
Total-386
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts-386
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)93,23189,637
Total93,23189,637