Registered number
13744963
IAN PROSSER BUILDING SERVICES LTD
Filleted Accounts
31 March 2024
IAN PROSSER BUILDING SERVICES LTD
Registered number: 13744963
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 8,576 16,105
Current assets
Stocks 1,300 1,500
Debtors 4 10,264 15,549
Debtors - Work in Progress 8,260 4,130
Cash at bank and in hand 6,207 1,061
26,031 22,240
Creditors: amounts falling due within one year 5 (11,290) (16,409)
Net current assets 14,741 5,831
Total assets less current liabilities 23,317 21,936
Creditors: amounts falling due after more than one year 6 (387) (5,029)
Net assets 22,930 16,907
Capital and reserves
Called up share capital 1 1
Profit and loss account 22,929 16,906
Shareholder's funds 22,930 16,907
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr I Prosser
Director
Approved by the board on 9 November 2024
IAN PROSSER BUILDING SERVICES LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 4,794 15,538 20,332
Disposals - (6,732) (6,732)
At 31 March 2024 4,794 8,806 13,600
Depreciation
At 1 April 2023 1,119 3,108 4,227
Charge for the year 735 2,306 3,041
On disposals - (2,244) (2,244)
At 31 March 2024 1,854 3,170 5,024
Net book value
At 31 March 2024 2,940 5,636 8,576
At 31 March 2023 3,675 12,430 16,105
4 Debtors 2024 2023
£ £
Trade debtors 630 3,288
Other debtors 9,634 12,261
10,264 15,549
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 2,508 4,284
Taxation and social security costs 2,514 4,433
Other creditors 6,268 7,692
11,290 16,409
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 387 5,029
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr Ian Prosser
Director's loan account (6,734) 21,108 (19,463) (5,089)
(6,734) 21,108 (19,463) (5,089)
8 Controlling party
The company is ultimately controlled by the director by virtue of their shareholding.
9 Other information
IAN PROSSER BUILDING SERVICES LTD is a private company limited by shares and incorporated in England. Its registered office is:
Llwyn Derwyn
Cwmfelinfach
Newport
NP11 7BN
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