Selsdon Building Contractors Limited 07230910 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of building contractors. Digita Accounts Production Advanced 6.30.9574.0 true true 07230910 2023-05-01 2024-04-30 07230910 2024-04-30 07230910 bus:OrdinaryShareClass1 2024-04-30 07230910 core:RetainedEarningsAccumulatedLosses 2024-04-30 07230910 core:ShareCapital 2024-04-30 07230910 core:CurrentFinancialInstruments 2024-04-30 07230910 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 07230910 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 07230910 core:FurnitureFittingsToolsEquipment 2024-04-30 07230910 core:MotorVehicles 2024-04-30 07230910 bus:SmallEntities 2023-05-01 2024-04-30 07230910 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 07230910 bus:FullAccounts 2023-05-01 2024-04-30 07230910 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07230910 bus:RegisteredOffice 2023-05-01 2024-04-30 07230910 bus:Director1 2023-05-01 2024-04-30 07230910 bus:Director4 2023-05-01 2024-04-30 07230910 bus:Director5 2023-05-01 2024-04-30 07230910 bus:Director6 2023-05-01 2024-04-30 07230910 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 07230910 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07230910 bus:Agent1 2023-05-01 2024-04-30 07230910 core:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 07230910 core:ShareCapital 2023-05-01 2024-04-30 07230910 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 07230910 core:MotorVehicles 2023-05-01 2024-04-30 07230910 core:VehiclesPlantMachinery 2023-05-01 2024-04-30 07230910 countries:England 2023-05-01 2024-04-30 07230910 2023-04-30 07230910 core:RetainedEarningsAccumulatedLosses 2023-04-30 07230910 core:ShareCapital 2023-04-30 07230910 core:FurnitureFittingsToolsEquipment 2023-04-30 07230910 core:MotorVehicles 2023-04-30 07230910 2022-05-01 2023-04-30 07230910 2023-04-30 07230910 bus:OrdinaryShareClass1 2023-04-30 07230910 core:CurrentFinancialInstruments 2023-04-30 07230910 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 07230910 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 07230910 core:FurnitureFittingsToolsEquipment 2023-04-30 07230910 core:MotorVehicles 2023-04-30 07230910 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 07230910 core:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 07230910 core:ShareCapital 2022-05-01 2023-04-30 07230910 2022-04-30 07230910 core:RetainedEarningsAccumulatedLosses 2022-04-30 07230910 core:ShareCapital 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07230910

Selsdon Building Contractors Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Selsdon Building Contractors Limited

Contents

Directors' Report

1

Accountants' Report

2

Profit and Loss Account

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 11

 

Selsdon Building Contractors Limited

Directors' Report for the Year Ended 30 April 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors of the company

The directors who held office during the year were as follows:

BJ Gallen

G W Beadle

L A Preston

GJ Gallen

Principal activity

The principal activity of the company is that of building contractors.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 14 January 2025 and signed on its behalf by:
 

.........................................
L A Preston
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Selsdon Building Contractors Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Selsdon Building Contractors Limited for the year ended 30 April 2024 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Selsdon Building Contractors Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Selsdon Building Contractors Limited and state those matters that we have agreed to state to the Board of Directors of Selsdon Building Contractors Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Selsdon Building Contractors Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Selsdon Building Contractors Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Selsdon Building Contractors Limited. You consider that Selsdon Building Contractors Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Selsdon Building Contractors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

The McCay Partnership
Chartered Accountants
Unit 24
Capital Business Centre
22 Carlton Road
South Croydon
Surrey
CR2 0BS

14 January 2025

 

Selsdon Building Contractors Limited

Profit and Loss Account for the Year Ended 30 April 2024

Note

2024
£

2023
£

Turnover

 

25,176,911

20,070,686

Cost of sales

 

(22,618,188)

(17,958,050)

Gross profit

 

2,558,723

2,112,636

Administrative expenses

 

(2,002,235)

(1,426,462)

Operating profit

 

556,488

686,174

Other interest receivable and similar income

 

8,128

-

Interest payable and similar expenses

 

(2,113)

-

   

6,015

-

Profit before tax

562,503

686,174

Tax on profit

 

(144,604)

(134,845)

Profit for the financial year

 

417,899

551,329

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Selsdon Building Contractors Limited

(Registration number: 07230910)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Tangible assets

4

52,387

14,478

Current assets

 

Stocks

5

877,830

1,054,406

Debtors

6

422,323

575,812

Cash at bank and in hand

 

2,016,078

2,160,421

 

3,316,231

3,790,639

Creditors: Amounts falling due within one year

7

(1,986,112)

(2,349,510)

Net current assets

 

1,330,119

1,441,129

Total assets less current liabilities

 

1,382,506

1,455,607

Creditors: Amounts falling due after more than one year

7

(21,500)

-

Net assets

 

1,361,006

1,455,607

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,360,906

1,455,507

Shareholders' funds

 

1,361,006

1,455,607

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 14 January 2025 and signed on its behalf by:
 

.........................................
L A Preston
Director

 

Selsdon Building Contractors Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Retained earnings
£

Total
£

At 1 May 2023

100

1,455,507

1,455,607

Profit for the year

-

417,899

417,899

Dividends

-

(512,500)

(512,500)

At 30 April 2024

100

1,360,906

1,361,006

Share capital
£

Retained earnings
£

Total
£

At 1 May 2022

100

1,354,455

1,354,555

Profit for the year

-

551,329

551,329

Dividends

-

(450,277)

(450,277)

At 30 April 2023

100

1,455,507

1,455,607

 

Selsdon Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Twin Bridges Business Park
Unit 10
232 Selsdon Road
South Croydon
Surrey
CR2 6PL

The principal place of business is:
Twin Bridges Business Park
Unit 10
232 Selsdon Road
South Croydon
Surrey
CR2 6PL

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Selsdon Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant, equipment and motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Selsdon Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Selsdon Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 41 (2023 - 38).

 

Selsdon Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

16,073

50,368

66,441

Additions

-

56,000

56,000

Disposals

-

(50,368)

(50,368)

At 30 April 2024

16,073

56,000

72,073

Depreciation

At 1 May 2023

8,446

43,517

51,963

Charge for the year

1,907

9,333

11,240

Eliminated on disposal

-

(43,517)

(43,517)

At 30 April 2024

10,353

9,333

19,686

Carrying amount

At 30 April 2024

5,720

46,667

52,387

At 30 April 2023

7,627

6,851

14,478

5

Stocks

2024
£

2023
£

Work in progress

877,830

1,054,406

6

Debtors

Current

2024
£

2023
£

Trade debtors

319,711

385,971

Other debtors

102,612

189,841

 

422,323

575,812

 

Selsdon Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

17,986

10,046

Trade creditors

 

1,429,092

2,032,956

Taxation and social security

 

539,034

306,508

 

1,986,112

2,349,510

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £5,125.00 (2023 - £4,502.7677) per each Ordinary

512,500

450,277