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REGISTERED NUMBER: 05315080 (England and Wales)










Unaudited Financial Statements

For The Period 1 April 2023 to 30 September 2024

for

Classic Builders Limited

Classic Builders Limited (Registered number: 05315080)






Contents of the Financial Statements
For The Period 1 April 2023 to 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Classic Builders Limited

Company Information
For The Period 1 April 2023 to 30 September 2024







DIRECTOR: B E Shaughnessy





SECRETARY: Mrs J A Shaughnessy





REGISTERED OFFICE: Elkstone
Pirton Lane
Churchdown
Gloucester
GL3 2QE





REGISTERED NUMBER: 05315080 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Classic Builders Limited (Registered number: 05315080)

Balance Sheet
30 September 2024

30.9.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 3,937

CURRENT ASSETS
Debtors 5 - 5,270
Cash at bank 37,719 57,951
37,719 63,221
CREDITORS
Amounts falling due within one year 6 12,732 27,196
NET CURRENT ASSETS 24,987 36,025
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,987

39,962

PROVISIONS FOR LIABILITIES - 748
NET ASSETS 24,987 39,214

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 24,985 39,212
SHAREHOLDERS' FUNDS 24,987 39,214

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 October 2024 and were signed by:



B E Shaughnessy - Director


Classic Builders Limited (Registered number: 05315080)

Notes to the Financial Statements
For The Period 1 April 2023 to 30 September 2024

1. STATUTORY INFORMATION

Classic Builders 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.

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.

The company ceased to trade on 30 September 2024 and so the financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company’s assets down to net realisable value. Provisions have also been made in respect of contracts which have become onerous at the reporting date. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. This is normally measured by taking contract costs incurred for work performed to date as a proportion of the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

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

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Classic Builders Limited (Registered number: 05315080)

Notes to the Financial Statements - continued
For The Period 1 April 2023 to 30 September 2024

2. ACCOUNTING POLICIES - continued

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 2 ) .

Classic Builders Limited (Registered number: 05315080)

Notes to the Financial Statements - continued
For The Period 1 April 2023 to 30 September 2024

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 April 2023 5,250
Disposals (5,250 )
At 30 September 2024 -
DEPRECIATION
At 1 April 2023 1,313
Charge for period 984
Eliminated on disposal (2,297 )
At 30 September 2024 -
NET BOOK VALUE
At 30 September 2024 -
At 31 March 2023 3,937

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.3.23
£    £   
Trade debtors - 5,270

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.3.23
£    £   
Trade creditors - 6,202
Tax 4,683 6,940
Social security and other taxes - 9,880
Directors' current accounts 8,036 2,296
Accrued expenses 13 1,878
12,732 27,196

7. POST BALANCE SHEET EVENTS

As explained in note 2, The Basis For Preparation, the company ceased to trade on 30 September 2024. After the balance sheet date, the company is due to be wound up by the director once all of the company's liabilities have been paid.