Universal Builders (Portsmouth) Limited 09586097 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is building construction. Digita Accounts Production Advanced 6.30.9574.0 true 09586097 2023-03-01 2024-02-29 09586097 2024-02-29 09586097 bus:OrdinaryShareClass1 2024-02-29 09586097 core:RetainedEarningsAccumulatedLosses 2024-02-29 09586097 core:ShareCapital 2024-02-29 09586097 core:CurrentFinancialInstruments 2024-02-29 09586097 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 09586097 core:Non-currentFinancialInstruments 2024-02-29 09586097 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 09586097 core:FurnitureFittingsToolsEquipment 2024-02-29 09586097 core:MotorVehicles 2024-02-29 09586097 bus:SmallEntities 2023-03-01 2024-02-29 09586097 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 09586097 bus:FilletedAccounts 2023-03-01 2024-02-29 09586097 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09586097 bus:RegisteredOffice 2023-03-01 2024-02-29 09586097 bus:Director1 2023-03-01 2024-02-29 09586097 bus:Director2 2023-03-01 2024-02-29 09586097 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 09586097 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09586097 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 09586097 core:MotorVehicles 2023-03-01 2024-02-29 09586097 core:PlantMachinery 2023-03-01 2024-02-29 09586097 countries:England 2023-03-01 2024-02-29 09586097 2023-02-28 09586097 core:FurnitureFittingsToolsEquipment 2023-02-28 09586097 core:MotorVehicles 2023-02-28 09586097 2022-03-01 2023-02-28 09586097 2023-02-28 09586097 bus:OrdinaryShareClass1 2023-02-28 09586097 core:RetainedEarningsAccumulatedLosses 2023-02-28 09586097 core:ShareCapital 2023-02-28 09586097 core:CurrentFinancialInstruments 2023-02-28 09586097 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 09586097 core:Non-currentFinancialInstruments 2023-02-28 09586097 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 09586097 core:FurnitureFittingsToolsEquipment 2023-02-28 09586097 core:MotorVehicles 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09586097

Universal Builders (Portsmouth) Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Universal Builders (Portsmouth) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Universal Builders (Portsmouth) Limited

Company Information

Directors

Mr N Audin

Mr T Audin

Registered office

Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

Accountants

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Universal Builders (Portsmouth) Limited

(Registration number: 09586097)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,355

1,805

Current assets

 

Debtors

5

8,399

24,257

Cash at bank and in hand

 

4,957

8,209

 

13,356

32,466

Creditors: Amounts falling due within one year

6

(5,090)

(11,168)

Net current assets

 

8,266

21,298

Total assets less current liabilities

 

9,621

23,103

Creditors: Amounts falling due after more than one year

6

(15,750)

(22,686)

Provisions for liabilities

(39)

(343)

Net (liabilities)/assets

 

(6,168)

74

Capital and reserves

 

Called up share capital

7

3

3

Retained earnings

(6,171)

71

Shareholders' (deficit)/funds

 

(6,168)

74

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.

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 May 2024 and signed on its behalf by:
 

 

Universal Builders (Portsmouth) Limited

(Registration number: 09586097)
Balance Sheet as at 29 February 2024

.........................................
Mr T Audin
Director

 

Universal Builders (Portsmouth) Limited

Notes to the Unaudited 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:
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN
England

These financial statements were authorised for issue by the Board on 22 May 2024.

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 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 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.

All figures are presented in British Sterling, which is the functional currency of the company, and are rounded to the nearest £1.

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.

Government grants

Government grants relating to revenue expenditure are recognised in income over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

 

Universal Builders (Portsmouth) Limited

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

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

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

Motor vehicles

25% reducing balance

Plant and machinery

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Universal Builders (Portsmouth) Limited

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

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 directors) during the year, was 3 (2023 - 3).

 

Universal Builders (Portsmouth) Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

1,070

10,144

11,214

At 29 February 2024

1,070

10,144

11,214

Depreciation

At 1 March 2023

619

8,790

9,409

Charge for the year

112

338

450

At 29 February 2024

731

9,128

9,859

Carrying amount

At 29 February 2024

339

1,016

1,355

At 28 February 2023

451

1,354

1,805

5

Debtors

Current

2024
£

2023
£

Trade debtors

3,890

5,440

Prepayments

571

548

Other debtors

3,938

18,269

 

8,399

24,257

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

(181)

6,232

Taxation and social security

-

2,888

Accruals and deferred income

1,995

1,995

Other creditors

3,276

53

5,090

11,168

 

Universal Builders (Portsmouth) Limited

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

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

15,750

22,686

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

3

3

3

3

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

15,750

22,686