Registered number
04052930
S & K Construction Limited
Filleted Accounts
31 March 2024
S & K Construction Limited
Registered number: 04052930
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 55,635 40,811
Current assets
Debtors 4 382,103 369,983
Cash at bank and in hand 22,171 140,567
404,274 510,550
Creditors: amounts falling due within one year 5 (82,646) (133,973)
Net current assets 321,628 376,577
Total assets less current liabilities 377,263 417,388
Creditors: amounts falling due after more than one year 6 (12,568) (35,574)
Net assets 364,695 381,814
Capital and reserves
Called up share capital 2 2
Profit and loss account 364,693 381,812
Shareholders' funds 364,695 381,814
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr K A Buttle
Director
Approved by the board on 18 October 2024
S & K Construction Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 33,882 169,776 203,658
Additions 7,471 25,898 33,369
At 31 March 2024 41,353 195,674 237,027
Depreciation
At 1 April 2023 24,321 138,526 162,847
Charge for the year 4,258 14,287 18,545
At 31 March 2024 28,579 152,813 181,392
Net book value
At 31 March 2024 12,774 42,861 55,635
At 31 March 2023 9,561 31,250 40,811
4 Debtors 2024 2023
£ £
Trade debtors 81,582 91,297
Other debtors 300,521 278,686
382,103 369,983
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 27,635 34,459
Trade creditors 22,040 20,344
Taxation and social security costs 29,994 76,209
Other creditors 2,977 2,961
82,646 133,973
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,568 35,574
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr K A Buttle
Directors loan (32) 74,914 (57,296) 17,586
(32) 74,914 (57,296) 17,586
8 Related party transactions
The directors loan outstanding at the year end 31 March 2024 of £17,554 was repaid on 30 April 2024.
9 Other information
S & K Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
124a Main Road
Biggin Hill
Westerham
Kent
TN16 3BA
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