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Registration number: 9433937

Construkt Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 29 February 2024

 

Construkt Limited

Director's Report for the Year Ended 29 February 2024

The director presents his report and the abridged financial statements for the year ended 29 February 2024.

Director of the company

The director who held office during the year was as follows:

Mr Graham Osten-Lee

Principal activity

The principal activity of the company is Property Maintenance

Going concern

Whilst the company has a negative balance sheet, the main creditor of the company is the Director. The Director has every intention of continuing to support the company for the next 12 months. Accordingly it is considered appropriate to prepare the financial statements on a going concern basis.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 28 October 2023
 

.........................................
Mr Graham Osten-Lee
Director

 

Construkt Limited

(Registration number: 9433937)
Abridged Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

-

19

Current assets

 

Debtors

6

2,511

2,511

Cash at bank and in hand

 

4,186

577

 

6,697

3,088

Creditors: Amounts falling due within one year

(18,705)

(5,894)

Net current liabilities

 

(12,008)

(2,806)

Total assets less current liabilities

 

(12,008)

(2,787)

Accruals and deferred income

 

(550)

(550)

Net liabilities

 

(12,558)

(3,337)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(12,658)

(3,437)

Shareholders' deficit

 

(12,558)

(3,337)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 28 October 2023
 

 

Construkt Limited

(Registration number: 9433937)
Abridged Balance Sheet as at 29 February 2024

.........................................
Mr Graham Osten-Lee
Director

 

Construkt Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Jubilee Cottage
Vicarage Road
Blackawton
Totnes
TQ9 7AY

These financial statements were authorised for issue by the director on 28 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Construkt Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

19

7

 

Construkt Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

209

209

At 29 February 2024

209

209

Depreciation

At 1 March 2023

190

190

Charge for the year

19

19

At 29 February 2024

209

209

Carrying amount

At 29 February 2024

-

-

At 28 February 2023

19

19

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100