Registered number
12287301
SABY Construction LTD
Filleted Accounts
31 October 2024
SABY Construction LTD
Registered number: 12287301
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 27,552 12,194
Current assets
Debtors 4 200,000 90,000
Cash at bank and in hand 48,103 13,973
248,103 103,973
Creditors: amounts falling due within one year 5 (223,314) (127,383)
Net current assets/(liabilities) 24,789 (23,410)
Total assets less current liabilities 52,341 (11,216)
Creditors: amounts falling due after more than one year 6 (13,852) (24,408)
Net assets/(liabilities) 38,489 (35,624)
Capital and reserves
Called up share capital 100 100
Profit and loss account 38,389 (35,724)
Shareholder's funds 38,489 (35,624)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jitender SINGH
Director
Approved by the board on 10 January 2025
SABY Construction LTD
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 20% straight line
Tools and equipment 20% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 12
3 Tangible fixed assets
Tools & equipments Motor vehicles Total
£ £ £
Cost
At 1 November 2023 4,333 31,987 36,320
Additions - 28,277 28,277
At 31 October 2024 4,333 60,264 64,597
Depreciation
At 1 November 2023 2,612 21,514 24,126
Charge for the year 867 12,052 12,919
At 31 October 2024 3,479 33,566 37,045
Net book value
At 31 October 2024 854 26,698 27,552
At 31 October 2023 1,721 10,473 12,194
4 Debtors 2024 2023
£ £
J & M Smart Home 200,000 90,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 18,084 -
Trade creditors 164,761 92,645
Taxation and social security costs 39,833 34,740
Other creditors 636 (2)
223,314 127,383
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,852 24,408
7 Other information
SABY Construction LTD is a private company limited by shares and incorporated in England. Its registered office is:
51 Tidford Road
Welling
KENT
DA16 3JY
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