2023-04-012024-03-312024-03-31false07767140M.R. EVANS AND SONS (BUILDERS) 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M.R. EVANS AND SONS (BUILDERS) LIMITED

Registered Number
07767140
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

M.R. EVANS AND SONS (BUILDERS) LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

EVANS, Adam Ashley
EVANS, Michael Roy

Registered Address

Bodilly Wartha
Trenear
Helston
TR13 0HA

Registered Number

07767140 (England and Wales)
M.R. EVANS AND SONS (BUILDERS) LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets33,7214,221
Tangible assets443,29026,141
47,01130,362
Current assets
Stocks51,662-
Debtors614,4508,188
Cash at bank and on hand74,166196,043
90,278204,231
Creditors amounts falling due within one year7(12,249)(55,914)
Net current assets (liabilities)78,029148,317
Total assets less current liabilities125,040178,679
Creditors amounts falling due after one year8(31,741)(37,401)
Provisions for liabilities9(4,197)(5,493)
Net assets89,102135,785
Capital and reserves
Called up share capital100100
Profit and loss account89,002135,685
Shareholders' funds89,102135,785
The financial statements were approved and authorised for issue by the Board of Directors on 15 October 2024, and are signed on its behalf by:
EVANS, Adam Ashley
Director
Registered Company No. 07767140
M.R. EVANS AND SONS (BUILDERS) LIMITED
Notes to the Financial Statements
for the year ended 31 March 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
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Vehicles10
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year24
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2310,00010,000
At 31 March 2410,00010,000
Amortisation and impairment
At 01 April 235,7795,779
Charge for year500500
At 31 March 246,2796,279
Net book value
At 31 March 243,7213,721
At 31 March 234,2214,221
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 April 234,14063,21842,445109,803
Additions21,2691,839-23,108
At 31 March 2425,40965,05742,445132,911
Depreciation and impairment
At 01 April 23-41,21742,44583,662
Charge for year-5,959-5,959
At 31 March 24-47,17642,44589,621
Net book value
At 31 March 2425,40917,881-43,290
At 31 March 234,14022,001-26,141
5.Stocks

2024

2023

££
Other stocks1,662-
Total1,662-
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,341-
Other debtors12,2407,256
Prepayments and accrued income869932
Total14,4508,188
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1541,776
Bank borrowings and overdrafts5,5545,400
Taxation and social security235,944
Other creditors5,0399,795
Accrued liabilities and deferred income1,5002,999
Total12,24955,914
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts31,74137,401
Total31,74137,401
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,1975,493
Total4,1975,493