Company registration number 05093870 (England and Wales)
FISHER BUILDING CONTRACTORS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
FISHER BUILDING CONTRACTORS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
FISHER BUILDING CONTRACTORS LTD
BALANCE SHEET
AS AT 29 FEBRUARY 2024
29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
61,187
54,186
Current assets
Debtors
4
2,653,576
2,026,209
Cash at bank and in hand
122,504
216,725
2,776,080
2,242,934
Creditors: amounts falling due within one year
5
(831,731)
(458,302)
Net current assets
1,944,349
1,784,632
Total assets less current liabilities
2,005,536
1,838,818
Creditors: amounts falling due after more than one year
6
(11,737)
(21,509)
Provisions for liabilities
(6,790)
(5,143)
Net assets
1,987,009
1,812,166
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,986,909
1,812,066
Total equity
1,987,009
1,812,166

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

FISHER BUILDING CONTRACTORS LTD
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024
29 February 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 27 November 2024
Mr S P Fisher
Director
Company Registration No. 05093870
FISHER BUILDING CONTRACTORS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information

Fisher Building Contractors Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3a Chestnut House, Farm Close, Shenley, Hertfordshire, United Kingdom, WD7 9AD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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

Fixtures and fittings
20% On Cost
Motor vehicles
20% On Cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

FISHER BUILDING CONTRACTORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.6

Amounts recoverable on contract

Work in progress comprises work completed or measured parts thereof not yet invoiced to customers and is stated after making due allowance for irrecoverable amounts. Profit on contracting activities is taken as work progresses, unless a more conservative approach is necessary. The percentage margin on each individual contract is the lower of the margin earned to date and that forecast to completion, taking account of agreed claims.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
FISHER BUILDING CONTRACTORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023
159,389
Additions
29,500
Disposals
(82,903)
At 29 February 2024
105,986
Depreciation and impairment
At 1 March 2023
105,203
Depreciation charged in the year
22,499
Eliminated in respect of disposals
(82,903)
At 29 February 2024
44,799
Carrying amount
At 29 February 2024
61,187
At 28 February 2023
54,186
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
772,761
667,750
Other debtors
1,880,815
1,358,459
2,653,576
2,026,209
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,697
10,947
Trade creditors
284,408
216,172
Corporation tax
58,778
53,890
Other taxation and social security
119,063
127,400
Other creditors
358,785
49,893
831,731
458,302
FISHER BUILDING CONTRACTORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,737
21,509
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