2023-03-012024-02-282024-02-28false13170382YOUNG'S CONSTRUCTION AND RENOVATIONS 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YOUNG'S CONSTRUCTION AND RENOVATIONS LTD

Registered Number
13170382
(England and Wales)

Unaudited Financial Statements for the Period ended
28 February 2024

YOUNG'S CONSTRUCTION AND RENOVATIONS LTD
Company Information
for the period from 1 March 2023 to 28 February 2024

Director

Steven John Young

Registered Address

55 Pople Street
Wymondham
NR18 0LW

Registered Number

13170382 (England and Wales)
YOUNG'S CONSTRUCTION AND RENOVATIONS LTD
Balance Sheet as at
28 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets341,28214,235
41,28214,235
Current assets
Debtors1,9123,114
Cash at bank and on hand9,86723,352
11,77926,466
Creditors amounts falling due within one year4(16,539)(29,568)
Net current assets (liabilities)(4,760)(3,102)
Total assets less current liabilities36,52211,133
Creditors amounts falling due after one year5(17,284)-
Net assets19,23811,133
Capital and reserves
Called up share capital11
Profit and loss account19,23711,132
Shareholders' funds19,23811,133
The financial statements were approved and authorised for issue by the Director on 9 July 2024, and are signed on its behalf by:
Steven John Young
Director
Registered Company No. 13170382
YOUNG'S CONSTRUCTION AND RENOVATIONS LTD
Notes to the Financial Statements
for the period ended 28 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Dividend income
Dividend income is recognised when the right to receive payment is established.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Vehicles20
Office Equipment33
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 March 2315,5002,16917,669
Additions28,990-28,990
At 28 February 2444,4902,16946,659
Depreciation and impairment
At 01 March 232,5738613,434
Charge for year6,3217157,036
On disposals(5,093)-(5,093)
At 28 February 243,8011,5765,377
Net book value
At 28 February 2440,68959341,282
At 28 February 2312,9271,30814,235
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables4,2236,018
Taxation and social security-178
Other creditors12,31623,372
Total16,53929,568
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts17,284-
Total17,284-