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REGISTERED NUMBER: 10941799 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Coalesce Construction Limited

Coalesce Construction Limited (Registered number: 10941799)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


Coalesce Construction Limited (Registered number: 10941799)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 272,969 365,618

CURRENT ASSETS
Stocks 74,348 70,322
Debtors 6 843,115 1,013,279
Cash at bank and in hand 229 3,005
917,692 1,086,606
CREDITORS
Amounts falling due within one year 7 891,421 800,365
NET CURRENT ASSETS 26,271 286,241
TOTAL ASSETS LESS CURRENT
LIABILITIES

299,240

651,859

CREDITORS
Amounts falling due after more than
one year

8

(183,015

)

(282,422

)

PROVISIONS FOR LIABILITIES (51,864 ) (69,468 )
NET ASSETS 64,361 299,969

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 64,357 299,965
SHAREHOLDERS' FUNDS 64,361 299,969

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.

Coalesce Construction Limited (Registered number: 10941799)

Statement of Financial Position - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:




Mr L J Duncan - Director



Mr J M Sullivan - Director


Coalesce Construction Limited (Registered number: 10941799)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Coalesce Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10941799

Registered office: Unit 5 Willesborough Industrial Estate
Ashford
Kent
TN24 0TD

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

Coalesce Construction Limited (Registered number: 10941799)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over the useful lives on the following basis:

Plant and machinery 25% Reducing balance method

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specified performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.


Coalesce Construction Limited (Registered number: 10941799)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
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.

Impairment of fixed assets
A review for indicators of impairments carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 40 ) .

Coalesce Construction Limited (Registered number: 10941799)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 593,071
Disposals (6,800 )
At 31 March 2024 586,271
DEPRECIATION
At 1 April 2023 227,453
Charge for year 90,991
Eliminated on disposal (5,142 )
At 31 March 2024 313,302
NET BOOK VALUE
At 31 March 2024 272,969
At 31 March 2023 365,618

The net book value of assets on hire purchase amount to £227,651 (2022: £303,535)

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 457,672 481,026
Other debtors 385,443 532,253
843,115 1,013,279

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 118,137 28,076
Trade creditors 126,875 128,723
Taxation and social security 360,103 529,267
Other creditors 286,306 114,299
891,421 800,365

Coalesce Construction Limited (Registered number: 10941799)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 25,000 45,000
Other creditors 158,015 237,422
183,015 282,422