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Registered number: 06597541
Mid Surrey Renovators Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
BWBCA Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06597541
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 44,956 56,753
44,956 56,753
CURRENT ASSETS
Stocks 5 2,750 2,750
Debtors 6 111,612 56,897
114,362 59,647
Creditors: Amounts Falling Due Within One Year 7 (81,663 ) (53,853 )
NET CURRENT ASSETS (LIABILITIES) 32,699 5,794
TOTAL ASSETS LESS CURRENT LIABILITIES 77,655 62,547
Creditors: Amounts Falling Due After More Than One Year 8 (36,093 ) (52,915 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,239 ) (8,933 )
NET ASSETS 30,323 699
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 30,223 599
SHAREHOLDERS' FUNDS 30,323 699
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S A Cullingham
Director
14 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Mid Surrey Renovators Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06597541 . The registered office is C/O BWBCA Limited Office 44, A30 Business Centre, Okehampton, Devon, EX20 1BG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents the value, net of value added tax, of goods provided to customers and work carried out in respect of services provided to customers, and is invoiced on a work done basis. Turnover is also adjusted to take into account amounts relating to long-term contracts and contracts for ongoing projects. The turnover regarding such contracts represents the value of work carried out during the period, including estimates of amounts not invoiced at the period end, determined by reference to the stage of completion, and a provision for retentions as per the terms agreed at the conception of the contract.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost and 18% on reducing balance
Motor Vehicles 20% and 25% on cost and 18% on reducing balance
Fixtures & Fittings 25% on cost
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees during the year was: NIL (2023: )
- -
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 62,247 82,770 133 4,192 149,342
Additions 3,704 - - 1,174 4,878
Disposals - (21,391 ) - - (21,391 )
As at 31 March 2024 65,951 61,379 133 5,366 132,829
Depreciation
As at 1 April 2023 50,328 38,472 86 3,703 92,589
Provided during the period 4,061 9,755 47 682 14,545
Disposals - (19,261 ) - - (19,261 )
As at 31 March 2024 54,389 28,966 133 4,385 87,873
Net Book Value
As at 31 March 2024 11,562 32,413 - 981 44,956
As at 1 April 2023 11,919 44,298 47 489 56,753
5. Stocks
2024 2023
£ £
Stock 2,750 2,750
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 15,592 27,735
Amounts recoverable on contracts 42,174 -
Other debtors 53,846 29,162
111,612 56,897
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,822 6,252
Trade creditors 26,658 11,474
Bank loans and overdrafts 10,223 30,825
Other creditors 626 626
Taxation and social security 37,334 4,676
81,663 53,853
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 24,426 31,248
Bank loans 11,667 21,667
36,093 52,915
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,822 6,252
Later than one year and not later than five years 24,426 31,248
31,248 37,500
31,248 37,500
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
75 Ordinary A shares of £ 1.00 each 75 75
25 Ordinary B shares of £ 1.00 each 25 25
100 100
11. Directors Advances, Credits and Guarantees
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Sam Cullingham 25,598 114,734 88,944 - 51,388
Interest has been charged on overdrawn loan account balances at the approved HM Revenue & Customs rates.
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