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Registration number: 01007913

Nursted Builders Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Nursted Builders Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Nursted Builders Limited

Company Information

Director

Mr N J Marie

Registered office

8a Woolner Avenue
Petersfield
HAMPSHIRE
GU32 2AD

Accountants

A J Wheeler Ltd - Trading as Howard Smith & Co
Chartered Certified Accountants
338 London Road
Portsmouth
Hampshire
PO2 9JY

 

Nursted Builders Limited

(Registration number: 01007913)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

112,548

102,942

Current assets

 

Stocks

5

1,500

1,500

Debtors

6

11,962

1,514

Cash at bank and in hand

 

4,752

33,882

 

18,214

36,896

Creditors: Amounts falling due within one year

7

(55,614)

(67,327)

Net current liabilities

 

(37,400)

(30,431)

Net assets

 

75,148

72,511

Capital and reserves

 

Called up share capital

8

600

600

Revaluation reserve

66,370

66,370

Other reserves

2,881

2,881

Retained earnings

5,297

2,660

Shareholders' funds

 

75,148

72,511

For the financial year ending 31 March 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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 November 2024
 

.........................................
Mr N J Marie
Director

 

Nursted Builders Limited

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

1

General information

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

The address of its registered office is:
8a Woolner Avenue
Petersfield
HAMPSHIRE
GU32 2AD

These financial statements were authorised for issue by the director on 26 November 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.

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

Property is stated at valuation less subsequent accumulated depreciation and subsequent accumulated impairment losses. Other 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:

 

Nursted Builders Limited

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

Asset class

Depreciation method and rate

Freehold Property

Straight line basis to write off over 50 years from 2002

Plant and machinery

15% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment

15% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 0 (2023 - 2).

 

Nursted Builders Limited

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

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2023

112,500

1,998

4,747

13,500

Additions

-

167

-

19,155

Disposals

-

-

-

(8,000)

At 31 March 2024

112,500

2,165

4,747

24,655

Depreciation

At 1 April 2023

15,133

1,511

3,354

9,805

Charge for the year

3,246

98

209

5,562

Eliminated on disposal

-

-

-

(7,399)

At 31 March 2024

18,379

1,609

3,563

7,968

Carrying amount

At 31 March 2024

94,121

556

1,184

16,687

At 31 March 2023

97,367

487

1,393

3,695

Total
£

Cost or valuation

At 1 April 2023

132,745

Additions

19,322

Disposals

(8,000)

At 31 March 2024

144,067

Depreciation

At 1 April 2023

29,803

Charge for the year

9,115

Eliminated on disposal

(7,399)

At 31 March 2024

31,519

Carrying amount

At 31 March 2024

112,548

At 31 March 2023

102,942

Included within the net book value of land and buildings above is £94,121 (2023 - £97,367) in respect of freehold land and buildings.
 

Revaluation

 

Nursted Builders Limited

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

The fair value of the company's Freehold Property was revalued on 21 March 2016 by an independent valuer. . The name and qualification of the independent valuer are Wadham & Isherwood Chartered Surveyors.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £7,832 (2023 - £8,102).

5

Stocks

2024
£

2023
£

Other inventories

1,500

1,500

6

Debtors

Current

2024
£

2023
£

Trade debtors

10,217

337

Prepayments

1,630

1,177

Other debtors

115

-

 

11,962

1,514

 

Nursted Builders Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,870

3,995

Taxation and social security

4,644

6,382

Accruals and deferred income

2,650

2,500

Other creditors

44,450

54,450

55,614

67,327

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

600

600

600

600

       

9

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

34,490

27,360