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REGISTERED NUMBER: 12012420 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

ADMIRE CONSTRUCTION LTD

ADMIRE CONSTRUCTION LTD (REGISTERED NUMBER: 12012420)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ADMIRE CONSTRUCTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: M J O'Mahoney
J D Omahoney





SECRETARY:





REGISTERED OFFICE: Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD





REGISTERED NUMBER: 12012420 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

ADMIRE CONSTRUCTION LTD (REGISTERED NUMBER: 12012420)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,839 10,751

CURRENT ASSETS
Stocks 29,847 35,000
Debtors 5 324,117 136,292
Cash at bank 37,631 33,679
391,595 204,971
CREDITORS
Amounts falling due within one year 6 257,115 121,693
NET CURRENT ASSETS 134,480 83,278
TOTAL ASSETS LESS CURRENT
LIABILITIES

142,319

94,029

CREDITORS
Amounts falling due after more than one
year

7

(10,385

)

(20,962

)

PROVISIONS FOR LIABILITIES (1,960 ) -
NET ASSETS 129,974 73,067

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 129,972 73,065
129,974 73,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ADMIRE CONSTRUCTION LTD (REGISTERED NUMBER: 12012420)

BALANCE SHEET - continued
31 MAY 2024


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2024 and were signed on its behalf by:




M J O'Mahoney - Director



J D Omahoney - Director


ADMIRE CONSTRUCTION LTD (REGISTERED NUMBER: 12012420)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Admire Construction Ltd 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.

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
Turnover 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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks 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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

ADMIRE CONSTRUCTION LTD (REGISTERED NUMBER: 12012420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 18,218 2,721 916 21,855
DEPRECIATION
At 1 June 2023 8,927 1,573 604 11,104
Charge for year 2,322 287 303 2,912
At 31 May 2024 11,249 1,860 907 14,016
NET BOOK VALUE
At 31 May 2024 6,969 861 9 7,839
At 31 May 2023 9,291 1,148 312 10,751

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 32,812 66,398
Amounts recoverable on contract 291,305 43,198
Other debtors - 139
Directors' current accounts - 19,856
Corporation tax - 6,701
324,117 136,292

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 9,615 9,365
Trade creditors 56,891 56,021
Corporation tax 90,790 30,909
Social security and other taxes 19,862 8,405
Other creditors 49,863 14,107
Directors' current accounts 27,229 24
Accrued expenses 2,865 2,862
257,115 121,693

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans - 1-2 years 9,873 9,615
Bank loans - 2-5 years 512 11,347
10,385 20,962

ADMIRE CONSTRUCTION LTD (REGISTERED NUMBER: 12012420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
C M Dearing
Balance outstanding at start of year - 8,663
Amounts advanced - 30,499
Amounts repaid - (39,162 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

M J O'Mahoney
Balance outstanding at start of year 19,856 9,291
Amounts advanced 81,129 74,918
Amounts repaid (101,096 ) (64,353 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (111 ) 19,856

J D Omahoney
Balance outstanding at start of year (24 ) -
Amounts advanced 74,002 17,842
Amounts repaid (101,096 ) (17,866 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (27,118 ) (24 )

The company has charged interest at the official rate on amounts temporarily loaned to the directors (where the balance exceeded £10,000) during the year.

9. RELATED PARTY DISCLOSURES

The company is controlled by the directors due to them owning equal shareholdings of the company's issued share capital.