Registered number
09265383
Harvey Construction South West Limited
Filleted Accounts
31 October 2023
Harvey Construction South West Limited
Registered number: 09265383
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 203,697 239,477
Current assets
Stocks 4,000 2,500
Debtors 4 237,290 365,941
Cash at bank and in hand 156,243 18,156
397,533 386,597
Creditors: amounts falling due within one year 5 (348,720) (349,546)
Net current assets 48,813 37,051
Total assets less current liabilities 252,510 276,528
Creditors: amounts falling due after more than one year 6 (95,185) (129,601)
Provisions for liabilities (38,723) (45,501)
Net assets 118,602 101,426
Capital and reserves
Called up share capital 100 100
Profit and loss account 118,502 101,326
Shareholders' funds 118,602 101,426
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.
Mr James Harvey
Director
Approved by the board on 29 October 2024
Harvey Construction South West Limited
Notes to the Accounts
for the year ended 31 October 2023
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% reducing balance
Motor vehicles 25% reducing balance
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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 458,929 118,871 577,800
Additions 35,098 - 35,098
Disposals - (18,824) (18,824)
At 31 October 2023 494,027 100,047 594,074
Depreciation
At 1 November 2022 253,650 84,673 338,323
Charge for the year 60,094 7,840 67,934
On disposals - (15,880) (15,880)
At 31 October 2023 313,744 76,633 390,377
Net book value
At 31 October 2023 180,283 23,414 203,697
At 31 October 2022 205,279 34,198 239,477
4 Debtors 2023 2022
£ £
Trade debtors 229,691 365,941
Other debtors 7,599 -
237,290 365,941
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,015 9,768
Obligations under finance lease and hire purchase contracts 38,218 50,217
Trade creditors 103,420 210,650
Taxation and social security costs 108,238 74,592
Director's loan account 81,529 969
Other creditors 7,300 3,350
348,720 349,546
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 19,908 29,923
Obligations under finance lease and hire purchase contracts 75,277 99,678
95,185 129,601
7 Other information
Harvey Construction South West Limited is a private company limited by shares and incorporated in England. Its registered office is:
Gogland Manor Farm
Normansland
Tiverton
Devon
EX16 8NJ
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