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Registered number: 04942540
Rightbuild Construction (North East) Ltd
Unaudited ABRIDGED Financial Statements
For the Period 1 November 2022 to 30 April 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 04942540
30 April 2024 31 October 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 246,471 257,739
246,471 257,739
CURRENT ASSETS
Debtors 5,395 5,356
Cash at bank and in hand 40,728 104,044
46,123 109,400
Creditors: Amounts Falling Due Within One Year (162,628 ) (223,901 )
NET CURRENT ASSETS (LIABILITIES) (116,505 ) (114,501 )
TOTAL ASSETS LESS CURRENT LIABILITIES 129,966 143,238
Creditors: Amounts Falling Due After More Than One Year (18,997 ) (45,009 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,395 ) (7,630 )
NET ASSETS 105,574 90,599
CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and Loss Account 105,572 90,597
SHAREHOLDERS' FUNDS 105,574 90,599
Page 1
Page 2
For the period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 April 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Michael Miley
Director
Mr Gavin Hendry
Director
27/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Rightbuild Construction (North East) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04942540 . The registered office is Bank Top House, Front Street, Whickham, Newcastle upon Tyne, NE16 4JJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold value maintained by regular maintenance
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
6 6
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4. Tangible Assets
Total
£
Cost
As at 1 November 2022 273,099
Additions 2,730
As at 30 April 2024 275,829
Depreciation
As at 1 November 2022 15,360
Provided during the period 13,998
As at 30 April 2024 29,358
Net Book Value
As at 30 April 2024 246,471
As at 1 November 2022 257,739
5. Obligations Under Finance Leases and Hire Purchase
30 April 2024 31 October 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,607 8,810
Later than one year and not later than five years - 11,012
6,607 19,822
6,607 19,822
6. Share Capital
30 April 2024 31 October 2022
£ £
Allotted, Called up and fully paid 2 2
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