BG Construction S.E. Limited
Registered number: 06853204
Statement of Financial Position
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 54,943 40,655
Current assets
Stocks 7,000 7,000
Debtors 5 105,638 150,206
Cash at bank and in hand 16,794 808
129,432 158,014
Creditors: amounts falling due within one year 6 (125,376) (160,312)
Net current assets/(liabilities) 4,056 (2,298)
Total assets less current liabilities 58,999 38,357
Creditors: amounts falling due after more than one year 7 (46,732) (30,483)
Provisions for liabilities (12,082) (7,724)
Net assets 185 150
Capital and reserves
Called up share capital 100 100
Profit and loss account 85 50
Shareholders' funds 185 150
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 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.
D Gibbon
Director
Approved by the board on 28 January 2025
BG Construction S.E. Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
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:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction 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. 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.
Provisions
Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Long term contracts
The amount recoverable or payable on each long term contract is based on the stage of completion, by calculating costs incurred to date as a percentage of total costs, less any provision for known or anticipated losses and progress payments received and receivable.

Where the outcome of incomplete contracts can be assessed with reasonable certainty, the attributable profit is recognised in the profit and loss account as an appropriate portion of the estimated profit for that contract. The amount by which turnover is in excess of progress payments received and receivable is classified as amounts recoverable on contracts and disclosed in other debtors. The amount by progress payments received are in excess if turnover is classified as amounts payable on contracts and disclosed in other creditors. In assessing amounts recoverable or payable, the director provides for the cost of potential claims based on experience.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 7 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 9,000
At 30 April 2024 9,000
Amortisation
At 1 May 2023 9,000
At 30 April 2024 9,000
Net book value
At 30 April 2024 -
Goodwill was written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 86,329 34,546 120,875
Additions 242 46,935 47,177
Disposals - (34,546) (34,546)
At 30 April 2024 86,571 46,935 133,506
Depreciation
At 1 May 2023 60,248 19,972 80,220
Charge for the year 6,581 11,734 18,315
On disposals - (19,972) (19,972)
At 30 April 2024 66,829 11,734 78,563
Net book value
At 30 April 2024 19,742 35,201 54,943
At 30 April 2023 26,081 14,574 40,655
5 Debtors 2024 2023
£ £
Trade debtors 16,556 55,244
Other debtors 89,082 94,962
105,638 150,206
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 11,304 10,000
Obligations under finance lease and hire purchase contracts 9,906 30,235
Trade creditors 52,677 42,548
Accruals 1,654 1,575
Corporation tax 18,283 13,221
Other taxes and social security costs 30,980 52,415
Other creditors 572 10,318
125,376 160,312
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,246 24,855
Obligations under finance lease and hire purchase contracts 34,486 5,628
46,732 30,483
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
D Gibbon
Repayable on demand 30,597 2,359 - 32,956
S Gibbon
Repayable on demand 30,596 2,360 - 32,956
61,193 4,719 - 65,912
9 Other information
BG Construction S.E. Limited is a private company limited by shares and incorporated in England. Its registered office is:
103 Broomleaf Road
Farnham
Surrey
GU9 8DH
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