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REGISTERED NUMBER: 04702977 (England and Wales)















AFD CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






AFD CONSTRUCTION LIMITED (REGISTERED NUMBER: 04702977)






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

Chartered Accountants' Report 8

AFD CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr Alexander Fredrick Dickson





REGISTERED OFFICE: 15 High Street
Brackley
Northamptonshire
NN13 7DH





REGISTERED NUMBER: 04702977 (England and Wales)





ACCOUNTANTS: Blencowes
15 High Street
Brackley
Northamptonshire
NN13 7DH

AFD CONSTRUCTION LIMITED (REGISTERED NUMBER: 04702977)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 53,833 87,833
Tangible assets 5 18,688 9,815
72,521 97,648

CURRENT ASSETS
Debtors 6 388,279 429,127
Prepayments and accrued income 23,478 14,203
Cash at bank 1,014,773 917,906
1,426,530 1,361,236
CREDITORS
Amounts falling due within one year 7 564,917 717,784
NET CURRENT ASSETS 861,613 643,452
TOTAL ASSETS LESS CURRENT
LIABILITIES

934,134

741,100

CREDITORS
Amounts falling due after more than one
year

8

-

(22,689

)

PROVISIONS FOR LIABILITIES (1,865 ) (1,865 )

ACCRUALS AND DEFERRED INCOME (6,631 ) (6,441 )
NET ASSETS 925,638 710,105

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 925,636 710,103
SHAREHOLDERS' FUNDS 925,638 710,105

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

AFD CONSTRUCTION LIMITED (REGISTERED NUMBER: 04702977)

BALANCE SHEET - continued
31 MARCH 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 27 September 2024 and were signed by:





Mr Adam Thomas Dickson - Director


AFD CONSTRUCTION LIMITED (REGISTERED NUMBER: 04702977)

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

1. STATUTORY INFORMATION

AFD Construction Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Construction contracts

When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 cost
Office equipment - 33% on cost

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.


AFD CONSTRUCTION LIMITED (REGISTERED NUMBER: 04702977)

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

2. ACCOUNTING POLICIES - continued
Deferred taxation
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 170,000
AMORTISATION
At 1 April 2023 82,167
Charge for year 34,000
At 31 March 2024 116,167
NET BOOK VALUE
At 31 March 2024 53,833
At 31 March 2023 87,833

AFD CONSTRUCTION LIMITED (REGISTERED NUMBER: 04702977)

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

5. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 April 2023 12,686 4,689 17,375
Additions 14,873 1,140 16,013
At 31 March 2024 27,559 5,829 33,388
DEPRECIATION
At 1 April 2023 5,684 1,876 7,560
Charge for year 5,402 1,738 7,140
At 31 March 2024 11,086 3,614 14,700
NET BOOK VALUE
At 31 March 2024 16,473 2,215 18,688
At 31 March 2023 7,002 2,813 9,815

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 65,810 12,331
Amounts recoverable on contract 269,199 416,796
Associated companies 8,997 -
Directors' current accounts 44,273 -
388,279 429,127

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 10,433
Trade creditors 324,755 285,123
Tax 113,586 219,865
Social security and other taxes 544 282
VAT 104,238 125,623
Other creditors 21,794 15,604
Associated companies - 60,775
Directors' current accounts - 79
564,917 717,784

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years - 22,689

AFD CONSTRUCTION LIMITED (REGISTERED NUMBER: 04702977)

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

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mr Alexander Fredrick Dickson
Balance outstanding at start of year - -
Amounts advanced 44,273 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 44,273 -

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
AFD CONSTRUCTION LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AFD Construction Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of AFD Construction Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of AFD Construction Limited and state those matters that we have agreed to state to the director of AFD Construction Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AFD Construction Limited and its director for our work or for this report.

It is your duty to ensure that AFD Construction Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AFD Construction Limited. You consider that AFD Construction Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of AFD Construction Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Blencowes
15 High Street
Brackley
Northamptonshire
NN13 7DH


27 September 2024