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REGISTERED NUMBER: 04002614 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

21ST CENTURY BUILDING SERVICES LTD.

21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


21ST CENTURY BUILDING SERVICES LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: CA Zammit





REGISTERED OFFICE: Unit E, Malago Vale Trading Estate
St John's Lane
Bedminster
Bristol
BS3 5BQ





REGISTERED NUMBER: 04002614 (England and Wales)





ACCOUNTANTS: Gordon Wood Scott & Partners Limited
Chartered Accountants
Dean House
94 Whiteladies Road
Clifton
Bristol
BS8 2QX

21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 344,708 452,772
Investment property 5 120,000 120,000
464,708 572,772

CURRENT ASSETS
Debtors 6 3,160,863 2,806,715
Cash at bank 400,295 1,467,942
3,561,158 4,274,657
CREDITORS
Amounts falling due within one year 7 (2,766,979 ) (3,166,576 )
NET CURRENT ASSETS 794,179 1,108,081
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,258,887

1,680,853

CREDITORS
Amounts falling due after more than one
year

8

(277,669

)

(537,119

)

PROVISIONS FOR LIABILITIES (86,177 ) (148,271 )
NET ASSETS 895,041 995,463

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 894,941 995,363
SHAREHOLDERS' FUNDS 895,041 995,463

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

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

The director acknowledges his 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.

21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614)

BALANCE SHEET - continued
31 MAY 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 director and authorised for issue on 20 November 2024 and were signed by:





CA Zammit - Director


21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614)

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

1. STATUTORY INFORMATION

21st Century Building Services Ltd. 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.

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


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.

The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the period, exclusive of value added tax.

Turnover and profit on construction contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty, Profit is calculated on a prudent bases to reflect the proportion of work carried during the period, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total estimated costs for that contract. Full provision is made for losses on contracts in the year in which they are first foreseen.

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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.


21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614)

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

2. ACCOUNTING POLICIES - continued
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.

Financial instruments and cash equivalents
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.

Short term debtors are measured at transaction price less any impairment.

Short term creditors are measured at transaction price.

Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 48 ) .

21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 100,465 677,173 87,226 864,864
Additions - 39,185 14,130 53,315
Disposals (7,367 ) (180,026 ) (24,663 ) (212,056 )
At 31 May 2024 93,098 536,332 76,693 706,123
DEPRECIATION
At 1 June 2023 54,318 301,887 55,887 412,092
Charge for year 11,155 71,013 13,393 95,561
Eliminated on disposal (5,841 ) (120,619 ) (19,778 ) (146,238 )
At 31 May 2024 59,632 252,281 49,502 361,415
NET BOOK VALUE
At 31 May 2024 33,466 284,051 27,191 344,708
At 31 May 2023 46,147 375,286 31,339 452,772

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023
and 31 May 2024 382,897
DEPRECIATION
At 1 June 2023
and 31 May 2024 115,007
NET BOOK VALUE
At 31 May 2024 267,890
At 31 May 2023 267,890

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 120,000
NET BOOK VALUE
At 31 May 2024 120,000
At 31 May 2023 120,000

21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614)

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

5. INVESTMENT PROPERTY - continued

The investment property was valued on an open market basis at the year end by the directors of the company, based on information afforded by recent professional valuations of similar properties.

The values shown above for investment property are analysed as follows:

£

Revaluation surplus -
Cost 120,000
Total 120,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 1,814,558 2,059,929
Amounts recoverable on long term contracts 179,622 46,697
Other debtors 1,166,683 700,089
3,160,863 2,806,715

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 220,000 220,000
Hire purchase contracts 47,457 161,492
Payments on account 425,778 424,259
Trade creditors 1,417,016 1,543,125
Taxation and social security 522,324 396,832
Other creditors 134,404 420,868
2,766,979 3,166,576

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 275,000 495,000
Hire purchase contracts 2,669 42,119
277,669 537,119

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 495,000 715,000

The bank loans are secured by an unlimited debenture over the assets of the company.

21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.22 31.5.21
Value £ £

96 Ordinary A £1 96 96
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
1 Ordinary E £1 1 1
100 100

11. OTHER FINANCIAL COMMITMENTS

The total amount of commitments that are not included in the balance sheet are £124,639 (2023 - £144,182). The commitments relate to rent payable in future periods in respect of leased premises and vehicles.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
A Zammit
Balance outstanding at start of year (43,612 ) 44,951
Amounts advanced 365,149 -
Amounts repaid (120,000 ) (88,563 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 201,537 (43,612 )

Mrs A M Zammit
Balance outstanding at start of year (43,612 ) 44,952
Amounts advanced 365,148 -
Amounts repaid (120,000 ) (88,564 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 201,536 (43,612 )

CA Zammit
Balance outstanding at start of year (86,124 ) 203,492
Amounts advanced 726,538 -
Amounts repaid (240,000 ) (289,616 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 400,414 (86,124 )

21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614)

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

13. RELATED PARTY DISCLOSURES

At the year end, the directors owed £803,487 to the company, at the end of the previous year the directors were owed £173,348 by the company. The amounts were repayable on demand and no interest was charged on the loan balances.

During the year, the directors purchased goods and services from the company amounting to £703,436 (2023: £447).



14. POST BALANCE SHEET EVENTS

The company purchased the shareholdings of Mr A Zammit and Mrs AM Zammit on 29th October 2024 for £1,000,000 on their retirement from the business.The purchase was made using cash reserves out of distributable profits.