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REGISTERED NUMBER: 03018640 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Wingate Construction Limited

Wingate Construction Limited (Registered number: 03018640)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Wingate Construction Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: R A Andrews





SECRETARY: Mrs C L Andrews





REGISTERED OFFICE: Belfry House
Bell Lane
Hertford
Hertfordshire
SG14 1BP





REGISTERED NUMBER: 03018640 (England and Wales)





ACCOUNTANTS: Philip T. Chave & Co
Belfry House
Bell Lane
Hertford
Hertfordshire
SG14 1BP

Wingate Construction Limited (Registered number: 03018640)

Abridged Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 21,783 27,235

CURRENT ASSETS
Inventories 11,750 750
Debtors 72,188 105,077
Cash at bank 2 21,756
83,940 127,583
CREDITORS
Amounts falling due within one year 94,086 101,636
NET CURRENT (LIABILITIES)/ASSETS (10,146 ) 25,947
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,637

53,182

CREDITORS
Amounts falling due after more than one
year

(23,532

)

(38,229

)

PROVISIONS FOR LIABILITIES 5 (4,139 ) (5,174 )
NET (LIABILITIES)/ASSETS (16,034 ) 9,779

CAPITAL AND RESERVES
Called up share capital 6 1,100 104
Retained earnings (17,134 ) 9,675
SHAREHOLDERS' FUNDS (16,034 ) 9,779

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

Wingate Construction Limited (Registered number: 03018640)

Abridged Balance Sheet - continued
29 February 2024



The financial statements were approved by the director and authorised for issue on 29 November 2024 and were signed by:





R A Andrews - Director


Wingate Construction Limited (Registered number: 03018640)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Wingate Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Wingate Construction Limited (Registered number: 03018640)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 9 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 March 2023
and 29 February 2024 95,169
DEPRECIATION
At 1 March 2023 67,934
Charge for year 5,452
At 29 February 2024 73,386
NET BOOK VALUE
At 29 February 2024 21,783
At 28 February 2023 27,235

Wingate Construction Limited (Registered number: 03018640)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 March 2023
and 29 February 2024 28,554
DEPRECIATION
At 1 March 2023 7,139
Charge for year 4,283
At 29 February 2024 11,422
NET BOOK VALUE
At 29 February 2024 17,132
At 28 February 2023 21,415

5. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 4,139 5,174

Deferred
tax
£   
Balance at 1 March 2023 5,174
Provided during year (1,035 )
Accelerated capital allowances
Balance at 29 February 2024 4,139

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
1,000 Ordinary £1 1,000 4
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
1,100 104

The following shares were issued during the year for cash at par :

996 Ordinary shares of £1