REGISTERED NUMBER: |
H E Builders Limited |
Unaudited Financial Statements |
for the Year Ended 31st January 2024 |
REGISTERED NUMBER: |
H E Builders Limited |
Unaudited Financial Statements |
for the Year Ended 31st January 2024 |
H E Builders Limited (Registered number: SC245953) |
Contents of the Financial Statements |
for the year ended 31st January 2024 |
Page |
Company information | 1 |
Balance sheet | 2 | to | 3 |
Notes to the financial statements | 4 | to | 8 |
H E Builders Limited |
Company Information |
for the year ended 31st January 2024 |
Directors: |
Secretary: |
Registered office: |
Business address: |
Registered number: |
Accountants: |
Academy House |
Shedden Park Road |
Kelso |
Roxburghshire |
TD5 7AL |
H E Builders Limited (Registered number: SC245953) |
Balance Sheet |
31st January 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Capital and reserves |
Called up share capital |
Retained earnings | 9 |
Shareholders' funds |
H E Builders Limited (Registered number: SC245953) |
Balance Sheet - continued |
31st January 2024 |
The directors acknowledge their 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. |
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 Board of Directors and authorised for issue on |
H E Builders Limited (Registered number: SC245953) |
Notes to the Financial Statements |
for the year ended 31st January 2024 |
1. | Statutory information |
H E Builders Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received and receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of value added tax. |
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Office equipment | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Investment property |
Investment properties are initially measured at cost. They are subsequently measured at the most recent valuation as carried out by the director. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals and directors' loans. |
Directors' loans (being repayable on demand), other loans, trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings. |
Taxation |
Taxation for the year 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. |
H E Builders Limited (Registered number: SC245953) |
Notes to the Financial Statements - continued |
for the year ended 31st January 2024 |
2. | Accounting policies - continued |
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. |
Employee benefits |
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred. |
Provisions |
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. |
Long term contracts |
Amounts recoverable on long term contracts, which are included in debtors are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account. |
Going concern |
The director has considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements. |
3. | Employees and directors |
The average number of employees during the year was |
H E Builders Limited (Registered number: SC245953) |
Notes to the Financial Statements - continued |
for the year ended 31st January 2024 |
4. | Tangible fixed assets |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
Cost |
At 1st February 2023 |
Additions |
Disposals | ( |
) |
At 31st January 2024 |
Depreciation |
At 1st February 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31st January 2024 |
Net book value |
At 31st January 2024 |
At 31st January 2023 |
Motor | Office |
vehicles | equipment | Totals |
£ | £ | £ |
Cost |
At 1st February 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31st January 2024 |
Depreciation |
At 1st February 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31st January 2024 |
Net book value |
At 31st January 2024 |
At 31st January 2023 |
H E Builders Limited (Registered number: SC245953) |
Notes to the Financial Statements - continued |
for the year ended 31st January 2024 |
5. | Investment property |
Total |
£ |
Fair value |
At 1st February 2023 |
Disposals | ( |
) |
At 31st January 2024 |
Net book value |
At 31st January 2024 |
At 31st January 2023 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
9. | Reserves |
Retained earnings include non distributable reserves totalling NIL (2023- £58,036.) |
10. | Post balance sheet events |
Since the year end a final dividend of £470 per share was declared and paid on 8th July 2024. |
H E Builders Limited (Registered number: SC245953) |
Notes to the Financial Statements - continued |
for the year ended 31st January 2024 |
11. | Directors' advances, credits and guarantees |
The following advances and credits to the directors subsisted during the years ended 31st January 2024 and 31st January 2023: |
2024 | 2023 |
£ | £ |
Director 1 |
Balance outstanding at start of year | 2,323 | 2,862 |
Amounts advanced | 36,769 | 34,314 |
Amounts repaid | (36,756 | ) | (34,853 | ) |
Balance outstanding at end of year | 2,336 | 2,323 |
2024 | 2023 |
£ | £ |
Director 2 |
Balance outstanding at start of year | 2,960 | - |
Amounts advanced | 26,332 | 38,864 |
Amounts repaid | (27,356 | ) | (35,904 | ) |
Balance outstanding at end of year | 1,936 | 2,960 |
These loans are unsecured and are repayable on demand. No interest has been charged as the loan is below the HMRC reporting level. |