Steve Terry Building Services Ltd 12624562 true 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is Dormant Digita Accounts Production Advanced 6.30.9574.0 true true 12624562 2023-06-01 2024-05-31 12624562 2024-05-31 12624562 bus:Director1 1 2024-05-31 12624562 bus:OrdinaryShareClass1 2024-05-31 12624562 core:CurrentFinancialInstruments 2024-05-31 12624562 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 12624562 core:Goodwill 2024-05-31 12624562 core:MotorVehicles 2024-05-31 12624562 core:OtherPropertyPlantEquipment 2024-05-31 12624562 bus:SmallEntities 2023-06-01 2024-05-31 12624562 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 12624562 bus:FullAccounts 2023-06-01 2024-05-31 12624562 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 12624562 bus:RegisteredOffice 2023-06-01 2024-05-31 12624562 bus:Director1 2023-06-01 2024-05-31 12624562 bus:Director1 1 2023-06-01 2024-05-31 12624562 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 12624562 bus:EntityHasNeverTraded 2023-06-01 2024-05-31 12624562 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12624562 core:Goodwill 2023-06-01 2024-05-31 12624562 core:MotorVehicles 2023-06-01 2024-05-31 12624562 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 12624562 core:PlantMachinery 2023-06-01 2024-05-31 12624562 countries:EnglandWales 2023-06-01 2024-05-31 12624562 2023-05-31 12624562 bus:Director1 1 2023-05-31 12624562 core:Goodwill 2023-05-31 12624562 core:MotorVehicles 2023-05-31 12624562 core:OtherPropertyPlantEquipment 2023-05-31 12624562 2022-06-01 2023-05-31 12624562 2023-05-31 12624562 bus:Director1 1 2023-05-31 12624562 bus:OrdinaryShareClass1 2023-05-31 12624562 core:CurrentFinancialInstruments 2023-05-31 12624562 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 12624562 core:Goodwill 2023-05-31 12624562 core:MotorVehicles 2023-05-31 12624562 core:OtherPropertyPlantEquipment 2023-05-31 12624562 bus:Director1 1 2022-06-01 2023-05-31 12624562 bus:Director1 1 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12624562

Steve Terry Building Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Steve Terry Building Services Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Steve Terry Building Services Ltd

Company Information

Director

Mr Stephen Terry

Registered office

49 Upper Morin Road
Paignton
Devon
TQ3 2HX

Accountants

Neil Wilson Accountancy Limited
Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

Steve Terry Building Services Ltd

(Registration number: 12624562)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

4,800

7,200

Tangible assets

5

1,852

2,483

 

6,652

9,683

Current assets

 

Debtors

6

10,598

284

Cash at bank and in hand

 

-

9,144

 

10,598

9,428

Creditors: Amounts falling due within one year

7

(12,258)

(7,730)

Net current (liabilities)/assets

 

(1,660)

1,698

Net assets

 

4,992

11,381

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

4,991

11,380

Shareholders' funds

 

4,992

11,381

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's 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 director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 January 2025
 

.........................................
Mr Stephen Terry
Director

 

Steve Terry Building Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

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

The address of its registered office is:
49 Upper Morin Road
Paignton
Devon
TQ3 2HX

These financial statements were authorised for issue by the director on 28 January 2025.

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.

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.

 

Steve Terry Building Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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 and machinery

25% Reducing balance

Motor vehicles

25% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

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.

 

Steve Terry Building Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Steve Terry Building Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 June 2023

12,000

12,000

At 31 May 2024

12,000

12,000

Amortisation

At 1 June 2023

4,800

4,800

Amortisation charge

2,400

2,400

At 31 May 2024

7,200

7,200

Carrying amount

At 31 May 2024

4,800

4,800

At 31 May 2023

7,200

7,200

5

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

3,477

1,115

4,592

At 31 May 2024

3,477

1,115

4,592

Depreciation

At 1 June 2023

1,621

488

2,109

Charge for the year

464

167

631

At 31 May 2024

2,085

655

2,740

Carrying amount

At 31 May 2024

1,392

460

1,852

At 31 May 2023

1,856

627

2,483

6

Debtors

Current

2024
£

2023
£

Other debtors

10,598

284

 

Steve Terry Building Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

20

-

Taxation and social security

 

10,193

6,735

Accruals and deferred income

 

2,045

995

 

12,258

7,730

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

20

-

10

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £1,500.00 (2023 - £10,000.00) per ordinary share

 

1,500

 

10,000

         

11

Related party transactions

Transactions with the director

 

Steve Terry Building Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

2024

At 1 June 2023
£

Advances to director
£

At 31 May 2024
£

Mr Stephen Terry

Loan to director

284

10,314

10,598

       
     

 

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

Mr Stephen Terry

Loan to director

3,016

5,984

(8,716)

284

         
       

 

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,570

Dividends paid to the director

   

2024
£

 

2023
£

Mr Stephen Terry

       

Interim Dividend March

 

1,000

 

4,000

Interim Dividend May

 

500

 

6,000

   

1,500

 

10,000