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Unaudited Financial Statements

for the Period 1 April 2023 to 31 December 2023

for

Construct-Equip Limited

Construct-Equip Limited (Registered number: 02333178)

Contents of the Financial Statements
for the Period 1 April 2023 to 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Construct-Equip Limited

Company Information
for the Period 1 April 2023 to 31 December 2023







DIRECTORS: W Burgess
L Burgess





REGISTERED OFFICE: 5-6 Boeing Way
International Trading Estate
Southall
UB2 5LB





REGISTERED NUMBER: 02333178 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

Construct-Equip Limited (Registered number: 02333178)

Balance Sheet
31 December 2023

2023 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 638,893 748,415

CURRENT ASSETS
Stocks - 505,541
Debtors 5 - 280,106
Cash at bank - 159,651
- 945,298
CREDITORS
Amounts falling due within one year 6 - 471,786
NET CURRENT ASSETS - 473,512
TOTAL ASSETS LESS CURRENT
LIABILITIES

638,893

1,221,927

CREDITORS
Amounts falling due after more than one
year

7

-

(358,837

)

PROVISIONS FOR LIABILITIES (25,548 ) (25,981 )
NET ASSETS 613,345 837,109

CAPITAL AND RESERVES
Called up share capital 9 426 426
Capital redemption reserve 424 424
Retained earnings 612,495 836,259
SHAREHOLDERS' FUNDS 613,345 837,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:



W Burgess - Director


Construct-Equip Limited (Registered number: 02333178)

Notes to the Financial Statements
for the Period 1 April 2023 to 31 December 2023


1. STATUTORY INFORMATION

Construct-Equip 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost, 20% on cost, at varying rates on cost and Straight line over 3 years

Included in cost of land and buildings is freehold land of £220,000 (2022: £220,000) which is not depreciated.

Stocks
Resale stocks have been valued at the lower of cost and estimated selling price less costs to sell.

Following a change in ownership, stock for rehire has been reclassified as plant and machinery to align with group policy.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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
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.

Construct-Equip Limited (Registered number: 02333178)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 December 2023


2. ACCOUNTING POLICIES - continued

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 period was 15 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 831,847 491,496 1,323,343
Additions - 166,798 166,798
Disposals - (1,219,895 ) (1,219,895 )
Reclassification/transfer - 561,601 561,601
At 31 December 2023 831,847 - 831,847
DEPRECIATION
At 1 April 2023 178,724 396,204 574,928
Charge for period 14,230 114,747 128,977
Eliminated on disposal - (510,951 ) (510,951 )
At 31 December 2023 192,954 - 192,954
NET BOOK VALUE
At 31 December 2023 638,893 - 638,893
At 31 March 2023 653,123 95,292 748,415

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

Plant and
machinery
etc
£   
COST
At 1 April 2023 193,139
Disposals (193,139 )
At 31 December 2023 -
DEPRECIATION
At 1 April 2023 126,625
Charge for period 28,007
Eliminated on disposal (154,632 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 March 2023 66,514

Construct-Equip Limited (Registered number: 02333178)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 December 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors - 238,983
Amounts owed by group undertakings - 645
Other debtors - 40,478
- 280,106

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Bank loans and overdrafts - 70,585
Hire purchase contracts - 143,014
Trade creditors - 50,671
Taxation and social security - 103,542
Other creditors - 103,974
- 471,786

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2023
£    £   
Bank loans - 150,358
Hire purchase contracts - 208,479
- 358,837

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2023
£    £   
Bank loans - 220,943
Hire purchase contracts - 351,493
- 572,436

Hire purchase liability is secured against the assets to which it relates and the bank loans by a fixed and floating charge against the other assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2023
value: £    £   
426 Ordinary £1 426 426