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REGISTERED NUMBER: 01490114 (England and Wales)










Unaudited Financial Statements

for the Year Ended 29 May 2024

for

Weighill Builders Limited

Weighill Builders Limited (Registered number: 01490114)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Weighill Builders Limited

Company Information
for the Year Ended 29 May 2024







DIRECTORS: P S Iles
D I Limmer





REGISTERED OFFICE: 8 Addisons Close
Shirley
Croydon
Surrey
CR0 8DX





REGISTERED NUMBER: 01490114 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Weighill Builders Limited (Registered number: 01490114)

Balance Sheet
29 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 725 2,641
Investment property 5 15,000 15,000
15,725 17,641

CURRENT ASSETS
Stocks 10,000 12,000
Debtors 6 89,870 93,000
Cash at bank 208,589 149,984
308,459 254,984
CREDITORS
Amounts falling due within one year 7 (34,251 ) (71,687 )
NET CURRENT ASSETS 274,208 183,297
TOTAL ASSETS LESS CURRENT
LIABILITIES

289,933

200,938

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 9 79,968 79,968
Investment revaluation reserve 9 15,000 15,000
Retained earnings 9 194,865 105,870
289,933 200,938

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

The members have not required the company to obtain an audit of its financial statements for the year ended 29 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.

Weighill Builders Limited (Registered number: 01490114)

Balance Sheet - continued
29 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 December 2024 and were signed on its behalf by:





P S Iles - Director


Weighill Builders Limited (Registered number: 01490114)

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

1. STATUTORY INFORMATION

Weighill Builders 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 (£).


The principal activity of the company continued to be that of general construction of buildings and civil engineering works.

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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery20% on cost
Motor vehicles25% on cost
Computer Equipment25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

INVESTMENT PROPERTY
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Weighill Builders Limited (Registered number: 01490114)

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

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

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

GOVERNMENT GRANTS
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

GOING CONCERN
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

PENSIONS
DEFINED CONTRIBUTION PENSION PLAN
The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

3. EMPLOYEES AND DIRECTORS

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

Weighill Builders Limited (Registered number: 01490114)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 30 May 2023 6,396 34,206 - 40,602
Additions 264 - 609 873
Disposals (96 ) (11,015 ) - (11,111 )
At 29 May 2024 6,564 23,191 609 30,364
DEPRECIATION
At 30 May 2023 6,170 31,791 - 37,961
Charge for year 209 2,416 152 2,777
Eliminated on disposal (84 ) (11,015 ) - (11,099 )
At 29 May 2024 6,295 23,192 152 29,639
NET BOOK VALUE
At 29 May 2024 269 (1 ) 457 725
At 29 May 2023 226 2,415 - 2,641

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 May 2023
and 29 May 2024 15,000
NET BOOK VALUE
At 29 May 2024 15,000
At 29 May 2023 15,000

The fair value of the investment property has been arrived at on an open market basis by the directors of the company.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 27,152 87,171
Other debtors 62,718 5,829
89,870 93,000

The directors consider the carrying value of trade and other receivables approximate to their fair values.

Weighill Builders Limited (Registered number: 01490114)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 8,672 30,270
Taxation and social security 16,422 31,386
Other creditors 9,157 10,031
34,251 71,687

The directors consider the carrying amounts of current liabilities approximate to their fair values.

8. DEFERRED TAX
£   
Balance at 30 May 2023 (2,938 )
Provided during year (57,258 )
Balance at 29 May 2024 (60,196 )

9. RESERVES
Investment
Retained Share revaluation
earnings premium reserve Totals
£    £    £    £   

At 30 May 2023 105,870 79,968 15,000 200,838
Profit for the year 88,995 88,995
At 29 May 2024 194,865 79,968 15,000 289,833

INVESTMENT REVALUATION RESERVES
The Company uses the revaluation model for the measurement of its investment properties. The reserve records this valuation surplus recognised less the related provision for deferred tax. This is a non distributable reserve.

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profits and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

Retained earnings consist of fair value adjustments and deferred tax in relation to investment properties.

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £3,996 (2023 - £3,996).

Weighill Builders Limited (Registered number: 01490114)

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

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 May 2024 and 29 May 2023:

2024 2023
£    £   
P S Iles
Balance outstanding at start of year (8,696 ) (8,925 )
Amounts advanced 10 229
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (8,686 ) (8,696 )

12. RELATED PARTY DISCLOSURES

At the balance sheet date included in other creditors were amounts due to the director P S Iles of £8,686 (2023 - £8,696). This loan is interest free and repayable on demand.