Registered number
06977967
HALECREST CONSTRUCTION LTD
Unaudited Filleted Accounts
31 January 2024
HALECREST CONSTRUCTION LTD
Registered number: 06977967
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,313 3,411
Current assets
Stocks 86,896 60,000
Debtors 4 10,730 74,681
Cash at bank and in hand 62,616 17,499
160,242 152,180
Creditors: amounts falling due within one year 5 (138,713) (119,115)
Net current assets 21,529 33,065
Total assets less current liabilities 23,842 36,476
Creditors: amounts falling due after more than one year 6 (23,779) (33,367)
Provisions for liabilities - (1,328)
Net assets 63 1,781
Capital and reserves
Called up share capital 100 100
Profit and loss account (37) 1,681
Shareholders' funds 63 1,781
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 members have 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.
R McKirdy
Director
Approved by the board on 28 January 2025
HALECREST CONSTRUCTION LTD
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 over 4 years
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks 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 (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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 9,388
At 31 January 2024 9,388
Depreciation
At 1 February 2023 5,977
Charge for the year 1,098
At 31 January 2024 7,075
Net book value
At 31 January 2024 2,313
At 31 January 2023 3,411
4 Debtors 2024 2023
£ £
Trade debtors - 67,181
Other debtors 10,730 7,500
10,730 74,681
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 20,774 20,673
Taxation and social security costs 117,602 70,664
Other creditors 337 27,778
138,713 119,115
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 23,779 33,367
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
R McKirdy
Unsecured loan 8,957 (8,957) -
8,957 - (8,957) -
There are no fixed repayment terms on the loan. The loan is due to be repaid in full within 9 months.
8 Other information
HALECREST CONSTRUCTION LTD is a private company limited by shares and incorporated in England. Its registered office is:
Brulimar House
Jubilee Road
Middleton
Manchester
M24 2LX
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