Registered number
00983646
Easthams Building Contractors Limited
Unaudited Filleted Accounts
29 February 2024
Easthams Building Contractors Limited
Registered number: 00983646
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 81,915 81,141
Current assets
Stocks - 47,809
Debtors 4 108,646 199,393
Cash at bank and in hand 543,174 280,273
651,820 527,475
Creditors: amounts falling due within one year 5 (212,791) (208,832)
Net current assets 439,029 318,643
Net assets 520,944 399,784
Capital and reserves
Called up share capital 520 520
Profit and loss account 520,424 399,264
Shareholders' funds 520,944 399,784
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 M Eastham Mrs S Eastham
Director Director
Approved by the board on 30 April 2024
Easthams Building Contractors Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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:
Motor Vehicles 25% reducing balance
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 10% 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2023 198,238 91,643 289,881
Additions 17,569 16,000 33,569
Disposals (24,750) - (24,750)
At 29 February 2024 191,057 107,643 298,700
Depreciation
At 1 March 2023 133,419 75,321 208,740
Charge for the year 12,875 4,080 16,955
On disposals (8,910) - (8,910)
At 29 February 2024 137,384 79,401 216,785
Net book value
At 29 February 2024 53,673 28,242 81,915
At 28 February 2023 64,819 16,322 81,141
4 Debtors 2024 2023
£ £
Trade debtors 20,188 196,764
Other debtors 88,458 2,629
108,646 199,393
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 83,126 54,233
Corporation tax 59,203 12,260
Other taxes and social security costs 66,277 102,696
Other creditors 4,185 39,643
212,791 208,832
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr M Eastham
Directors Loan Account (16,809) 63,267 46,458
Mrs S Eastham
Directors Loan Account (10,832) 52,832 42,000
(27,641) 116,099 - 88,458
7 Controlling party
The ulitmate controlling party of the company is Mr M Eastham by virtue of his ownership of 75% of the issued share capital.
8 Other information
Easthams Building Contractors Limited is a private company limited by shares and incorporated in England. Its registered office is:
Shay Lane Industrial Estate
Longridge
Preston
Lancashire
PR3 3BT
Easthams Building Contractors Limited 00983646 false 2023-03-01 2024-02-29 2024-02-29 VT Final Accounts July 2024 Mr M Eastham No description of principal activity 00983646 2022-03-01 2023-02-28 00983646 core:WithinOneYear 2023-02-28 00983646 core:ShareCapital 2023-02-28 00983646 core:RetainedEarningsAccumulatedLosses 2023-02-28 00983646 2023-03-01 2024-02-29 00983646 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 00983646 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 00983646 bus:Director40 2023-03-01 2024-02-29 00983646 1 2023-03-01 2024-02-29 00983646 2 2023-03-01 2024-02-29 00983646 core:PlantMachinery 2023-03-01 2024-02-29 00983646 core:Vehicles 2023-03-01 2024-02-29 00983646 bus:Director1 2023-03-01 2024-02-29 00983646 bus:Director1 1 2023-03-01 2024-02-29 00983646 bus:Director2 2023-03-01 2024-02-29 00983646 bus:Director2 1 2023-03-01 2024-02-29 00983646 countries:England 2023-03-01 2024-02-29 00983646 bus:FRS102 2023-03-01 2024-02-29 00983646 bus:FilletedAccounts 2023-03-01 2024-02-29 00983646 2024-02-29 00983646 core:WithinOneYear 2024-02-29 00983646 core:ShareCapital 2024-02-29 00983646 core:RetainedEarningsAccumulatedLosses 2024-02-29 00983646 core:PlantMachinery 2024-02-29 00983646 core:Vehicles 2024-02-29 00983646 bus:Director1 1 2024-02-29 00983646 bus:Director2 1 2024-02-29 00983646 2023-02-28 00983646 core:PlantMachinery 2023-02-28 00983646 core:Vehicles 2023-02-28 00983646 bus:Director1 1 2023-02-28 00983646 bus:Director2 1 2023-02-28 iso4217:GBP xbrli:pure