Registered number
09934940
Union Contractors (Sussex) Limited
Unaudited Filleted Accounts
31 January 2024
Union Contractors (Sussex) Limited
Registered number: 09934940
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 482,278 391,046
Investments 4 49,108 42,193
531,386 433,239
Current assets
Stocks 85,174 81,854
Debtors 5 880,394 575,813
Cash at bank and in hand 78,244 252,299
1,043,812 909,966
Creditors: amounts falling due within one year 6 (332,213) (263,755)
Net current assets 711,599 646,211
Total assets less current liabilities 1,242,985 1,079,450
Creditors: amounts falling due after more than one year 7 (95,838) (143,222)
Provisions for liabilities (73,726) (45,433)
Net assets 1,073,421 890,795
Capital and reserves
Called up share capital 1,001 1,001
Profit and loss account 1,072,420 889,794
Shareholders' funds 1,073,421 890,795
The directors are 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 directors acknowledge their 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.
S.J.D.Knight
Director
Approved by the board on 28 October 2024
Union Contractors (Sussex) Limited
Notes to the Accounts
for the year ended 31 January 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:
Plant and machinery 25% on written down value
Motor vehicles 25% on written down value
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 605,942 277,426 883,368
Additions 53,365 209,681 263,046
Disposals - (57,001) (57,001)
At 31 January 2024 659,307 430,106 1,089,413
Depreciation
At 1 February 2023 340,894 151,428 492,322
Charge for the year 79,607 83,745 163,352
On disposals - (48,539) (48,539)
At 31 January 2024 420,501 186,634 607,135
Net book value
At 31 January 2024 238,806 243,472 482,278
At 31 January 2023 265,048 125,998 391,046
4 Investments
Other
investments
£
Cost
At 1 February 2023 42,193
Additions 6,915
At 31 January 2024 49,108
5 Debtors 2024 2023
£ £
Trade debtors 11,000 875
Other debtors 869,394 574,938
880,394 575,813
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 99,401 91,787
Obligations under finance lease and hire purchase contracts 50,146 42,962
Trade creditors 26,709 52,209
Taxation and social security costs (58,995) 25,054
Other creditors 214,952 51,743
332,213 263,755
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 29,906 129,328
Obligations under finance lease and hire purchase contracts 65,932 13,894
95,838 143,222
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
C.J.Knight
Loan to director 8,158 - (8,158) -
S.J.D.Knight
Loan to director 8,159 - (8,159) -
16,317 - (16,317) -
9 Controlling party
The controlling parties are C.J.Knight and S.J.D.Knight by virtue of their ownership of 99% of the issued Ordinary share capital of the company.
10 Other information
Union Contractors (Sussex) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Stirling House, Sunderland Quay,
Culpeper Close,
Rochester,
Kent,
ME2 4HN.
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