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REGISTERED NUMBER: 03234698 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

A S RAMSAY BUILDING CONTRACTORS LIMITED

A S RAMSAY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 03234698)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


A S RAMSAY BUILDING CONTRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J M Godman
A S Ramsay





SECRETARY: A S Ramsay





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 03234698 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

A S RAMSAY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 03234698)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,989 37,176

CURRENT ASSETS
Debtors 5 2,675,829 1,377,140
Cash at bank 775,392 6,788
3,451,221 1,383,928
CREDITORS
Amounts falling due within one year 6 2,747,574 1,308,556
NET CURRENT ASSETS 703,647 75,372
TOTAL ASSETS LESS CURRENT
LIABILITIES

721,636

112,548

CREDITORS
Amounts falling due after more than one
year

7

(25,862

)

(53,764

)

PROVISIONS FOR LIABILITIES (4,497 ) (9,294 )
NET ASSETS 691,277 49,490

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 691,177 49,390
691,277 49,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by:





J M Godman - Director


A S RAMSAY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 03234698)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

A S Ramsay Building Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

A S RAMSAY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 03234698)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 1,812 55,390 39,917 97,119
Additions 222 - 267 489
Disposals - (31,155 ) - (31,155 )
At 31 March 2024 2,034 24,235 40,184 66,453
DEPRECIATION
At 1 April 2023 1,412 24,313 34,218 59,943
Charge for year 209 6,059 5,620 11,888
Eliminated on disposal - (23,367 ) - (23,367 )
At 31 March 2024 1,621 7,005 39,838 48,464
NET BOOK VALUE
At 31 March 2024 413 17,230 346 17,989
At 31 March 2023 400 31,077 5,699 37,176

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 55,390
Disposals (31,155 )
At 31 March 2024 24,235
DEPRECIATION
At 1 April 2023 24,313
Charge for year 6,059
Eliminated on disposal (23,367 )
At 31 March 2024 7,005
NET BOOK VALUE
At 31 March 2024 17,230
At 31 March 2023 31,077

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 765,863 442,717
Amounts owed by group undertakings 1,334,465 354,083
Other debtors 9,820 22,539
Directors' loan accounts - 500
Tax - 39,071
Accrued income 550,000 500,000
Prepayments 15,681 18,230
2,675,829 1,377,140

A S RAMSAY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 03234698)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 4,867 13,213
Trade creditors 386,435 456,133
Tax 225,153 -
Social security and other taxes 44,123 137,205
VAT 560,552 193,767
Other creditors 20,947 23,798
Directors' loan accounts 8,831 8,831
Accrued expenses 1,486,666 465,609
2,747,574 1,308,556

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 1,667 11,667
Hire purchase contracts 14,195 32,097
25,862 53,764

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
J M Godman
Balance outstanding at start of year 500 -
Amounts advanced - 500
Amounts repaid (500 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 500

This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

During the year, A S Ramsay maintained his loan to the company. As at 31 March 2024, the company owed him £8,831 (2023: £8,831). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A S Ramsay, Mrs B Ramsay & J M Godman.

This was by virtue of their 100% holding of the issued share capital.