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Registration number: 09406017

The Ugly Duckling Building Company Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

The Ugly Duckling Building Company Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

The Ugly Duckling Building Company Ltd

Company Information

Director

O J Dix

Registered office

97 Midford Road
Bath
Avon

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisors
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

The Ugly Duckling Building Company Ltd

(Registration number: 09406017)
Balance Sheet
31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,710

9,215

Current assets

 

Cash at bank and in hand

 

20,115

25,172

Creditors: Amounts falling due within one year

5

(27,806)

(16,135)

Net current (liabilities)/assets

 

(7,691)

9,037

Total assets less current liabilities

 

(981)

18,252

Creditors: Amounts falling due after more than one year

5

-

(7,626)

Net (liabilities)/assets

 

(981)

10,626

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(982)

10,625

Shareholders' (deficit)/funds

 

(981)

10,626

 

The Ugly Duckling Building Company Ltd

(Registration number: 09406017)
Balance Sheet
31 January 2024

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 October 2024
 

.........................................
O J Dix
Director

 

The Ugly Duckling Building Company Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
97 Midford Road
Bath
Avon
BA2 5RT

These financial statements were authorised for issue by the director on 18 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

The Ugly Duckling Building Company Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 January 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

33.3% per annum straight line

Motor Vehicles

25% per annum reducing balance

Office Equipment

25% per annum reducing balance

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

The Ugly Duckling Building Company Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 January 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

The Ugly Duckling Building Company Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 January 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

1,660

1,665

31,034

34,359

At 31 January 2024

1,660

1,665

31,034

34,359

Depreciation

At 1 February 2023

1,103

1,181

22,860

25,144

Charge for the year

341

121

2,043

2,505

At 31 January 2024

1,444

1,302

24,903

27,649

Carrying amount

At 31 January 2024

216

363

6,131

6,710

At 31 January 2023

557

484

8,174

9,215

 

The Ugly Duckling Building Company Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 January 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

7,864

2,862

Trade creditors

 

9,330

2,629

Taxation and social security

 

7,125

7,196

Accruals and deferred income

 

1,321

1,393

Other creditors

 

2,166

2,055

 

27,806

16,135

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

-

7,626

6

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

7,626

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

7,864

2,862