Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-314false2023-01-01No description of principal activity10falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04290794 2023-01-01 2023-12-31 04290794 2022-01-01 2022-12-31 04290794 2023-12-31 04290794 2022-12-31 04290794 c:Director1 2023-01-01 2023-12-31 04290794 d:Buildings 2023-01-01 2023-12-31 04290794 d:Buildings 2023-12-31 04290794 d:Buildings 2022-12-31 04290794 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04290794 d:PlantMachinery 2023-01-01 2023-12-31 04290794 d:PlantMachinery 2023-12-31 04290794 d:PlantMachinery 2022-12-31 04290794 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04290794 d:MotorVehicles 2023-01-01 2023-12-31 04290794 d:MotorVehicles 2023-12-31 04290794 d:MotorVehicles 2022-12-31 04290794 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04290794 d:FurnitureFittings 2023-01-01 2023-12-31 04290794 d:FurnitureFittings 2023-12-31 04290794 d:FurnitureFittings 2022-12-31 04290794 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04290794 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04290794 d:CurrentFinancialInstruments 2023-12-31 04290794 d:CurrentFinancialInstruments 2022-12-31 04290794 d:Non-currentFinancialInstruments 2023-12-31 04290794 d:Non-currentFinancialInstruments 2022-12-31 04290794 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04290794 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04290794 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 04290794 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 04290794 c:FRS102 2023-01-01 2023-12-31 04290794 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04290794 c:FullAccounts 2023-01-01 2023-12-31 04290794 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04290794 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04290794 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04290794 2 2023-01-01 2023-12-31 04290794 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 04290794









AITCH DEMOLITION CO. LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
AITCH DEMOLITION CO. LIMITED
REGISTERED NUMBER: 04290794

BALANCE SHEET
AS AT 31 DECEMBER 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,732,507
5,721,955

  
10,732,507
5,721,955

Current assets
  

Debtors: amounts falling due within one year
 5 
5,896,528
4,412,907

Cash at bank and in hand
 6 
491,819
661,177

  
6,388,347
5,074,084

Creditors: amounts falling due within one year
 7 
(3,204,516)
(2,091,794)

Net current assets
  
 
 
3,183,831
 
 
2,982,290

Total assets less current liabilities
  
13,916,338
8,704,245

Creditors: amounts falling due after more than one year
 8 
(3,296,020)
(351,323)

Provisions for liabilities
  

Deferred tax
  
(1,609,282)
(650,105)

  
 
 
(1,609,282)
 
 
(650,105)

Net assets
  
9,011,036
7,702,817


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
9,011,034
7,702,815

  
9,011,036
7,702,817


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions
Page 1

 
AITCH DEMOLITION CO. LIMITED
REGISTERED NUMBER: 04290794
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
H Allen
Director
Date: 25 October 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
AITCH DEMOLITION CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Aitch Demolition Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given on the company information page of these financial statements. The company's principalk activity is that of building and demolition.
The financial statements are poresented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements and are set out below. These policies have been consiatently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
AITCH DEMOLITION CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
AITCH DEMOLITION CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Motor vehicles
-
25%
Fixtures and fittings
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
AITCH DEMOLITION CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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 receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Page 6

 
AITCH DEMOLITION CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.16
Financial instruments (continued)

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 7

 
AITCH DEMOLITION CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 4).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
2,080,000
5,438,529
1,187,171
21,617
8,727,317


Additions
996,277
6,685,917
157,487
6,339
7,846,020


Disposals
-
(1,513,419)
(903,875)
(1,750)
(2,419,044)



At 31 December 2023

3,076,277
10,611,027
440,783
26,206
14,154,293



Depreciation


At 1 January 2023
-
2,271,743
721,594
12,025
3,005,362


Charge for the year on owned assets
-
1,311,707
129,653
2,950
1,444,310


Disposals
-
(335,997)
(690,409)
(1,480)
(1,027,886)



At 31 December 2023

-
3,247,453
160,838
13,495
3,421,786



Net book value



At 31 December 2023
3,076,277
7,363,574
279,945
12,711
10,732,507



At 31 December 2022
2,080,000
3,166,786
465,577
9,592
5,721,955

Page 8

 
AITCH DEMOLITION CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
3,320,067
2,165,659

Amounts owed by group undertakings
861,291
861,291

Other debtors
1,254,767
622,782

Prepayments and accrued income
460,403
763,175

5,896,528
4,412,907



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
491,819
661,177

491,819
661,177


The bank accounts held by the company is secured by way of a fixed and floating charge over the property and undertaking of the company, and contains a negative pledge.


7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
101,122
406,477

Trade creditors
764,782
578,290

Amounts owed to group undertakings
67,608
-

Other taxation and social security
9,694
18,688

Obligations under finance lease and hire purchase contracts
1,764,505
554,989

Other creditors
496,805
533,350

3,204,516
2,091,794


Page 9

 
AITCH DEMOLITION CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
157,734
-

Net obligations under finance leases and hire purchase contracts
3,138,286
351,323

3,296,020
351,323



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
101,122
406,477


101,122
406,477

Amounts falling due 1-2 years

Bank loans
157,734
-


157,734
-



258,856
406,477



10.


Deferred taxation




2023


£






At beginning of year
(650,105)


Charged to profit or loss
(959,177)



At end of year
(1,609,282)

Page 10

 
AITCH DEMOLITION CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

As restated
2023
2022
£
£


Accelerated capital allowances
(1,609,282)
(650,105)

(1,609,282)
(650,105)


11.


Prior year adjustment

The accounts have been restated to incorporate an adjustment in relation to an update in the deferred tax provision originally provided within the accounts. This change has resulted in the profits available for distribution at 31 December 2023, decreasing by £650,105. 


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £3,613 (2022 - £3,009) . The pension liability is £1,451 (2022 - £Nil)


13.


Controlling party

The company is controlled by its parent company Aitch Plant and Equipment Limited, a company incorporated in England and Wales and who shares a common director.

 
Page 11