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REGISTERED NUMBER: 04530687 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Storey Brothers Groundworks Ltd

Storey Brothers Groundworks Ltd (Registered number: 04530687)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Storey Brothers Groundworks Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr J Storey
Mr S J Storey
Mr B Storey





REGISTERED OFFICE: 3 Chester Burn Road
Wynyard
Stockton on Tees
TS22 5UF





REGISTERED NUMBER: 04530687 (England and Wales)





ACCOUNTANTS: Lyons Watson
Accountants & Business Advisers
Business Central
2 Union Square
Darlington
Co. Durham
DL1 1GL

Storey Brothers Groundworks Ltd (Registered number: 04530687)

Abridged Balance Sheet
30 September 2024

30/9/24 30/9/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 30,677 40,329
30,677 40,329

CURRENT ASSETS
Debtors 483 421
Cash at bank and in hand 67,969 77,411
68,452 77,832
CREDITORS
Amounts falling due within one year 88,784 101,193
NET CURRENT LIABILITIES (20,332 ) (23,361 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,345

16,968

CREDITORS
Amounts falling due after more than one
year

(3,088

)

(5,620

)

PROVISIONS FOR LIABILITIES (5,829 ) (7,663 )
NET ASSETS 1,428 3,685

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 1,278 3,535
1,428 3,685

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Storey Brothers Groundworks Ltd (Registered number: 04530687)

Abridged Balance Sheet - continued
30 September 2024


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 30 September 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.

The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by:





Mr J Storey - Director


Storey Brothers Groundworks Ltd (Registered number: 04530687)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Storey Brothers Groundworks 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.

The financial statements have been prepared under the going concern basis of accounting.

Turnover
Turnover represents the value of work carried out during the year including amounts not yet invoiced, excluding value added tax. Income is being recognised according to the stage of completion of work done.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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 - 10% on reducing balance
Motor vehicles - 25% on reducing balance

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.

Storey Brothers Groundworks Ltd (Registered number: 04530687)

Notes to the Financial Statements - continued
for the Year Ended 30 September 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.

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 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023
and 30 September 2024 9,606
AMORTISATION
At 1 October 2023
and 30 September 2024 9,606
NET BOOK VALUE

At 30 September 2024 -
At 30 September 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023
and 30 September 2024 60,390
DEPRECIATION
At 1 October 2023 20,061
Charge for year 9,652
At 30 September 2024 29,713
NET BOOK VALUE
At 30 September 2024 30,677
At 30 September 2023 40,329

Storey Brothers Groundworks Ltd (Registered number: 04530687)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS - continued

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

Totals
£   
COST
At 1 October 2023
and 30 September 2024 32,522
DEPRECIATION
At 1 October 2023 6,775
Charge for year 6,437
At 30 September 2024 13,212
NET BOOK VALUE
At 30 September 2024 19,310
At 30 September 2023 25,747

6. SECURED DEBTS

The following secured debts are included within creditors:

30/9/24 30/9/23
£    £   
Hire purchase contracts 5,620 8,046

The debts are secured against the assets to which they relate.