Registered number
08494337
Ciaran McClennon Building Contractors Limited
Filleted Accounts
30 April 2024
Ciaran McClennon Building Contractors Limited
Registered number: 08494337
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 36,881 49,033
Current assets
Stocks 21,290 39,250
Debtors 4 223,700 258,169
Cash at bank and in hand 57,016 57,315
302,006 354,734
Creditors: amounts falling due within one year 5 (156,461) (156,446)
Net current assets 145,545 198,288
Net assets 182,426 247,321
Capital and reserves
Called up share capital 2 2
Profit and loss account 182,424 247,319
Shareholders' funds 182,426 247,321
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.
C McClennon
Director
Approved by the board on 31 January 2025
Ciaran McClennon Building Contractors 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, 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 20% reducing balance
Motor vehicles 25% reducing balance
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.
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 9 9
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 17,917 87,643 105,560
At 30 April 2024 17,917 87,643 105,560
Depreciation
At 1 May 2023 15,811 40,716 56,527
Charge for the year 424 11,728 12,152
At 30 April 2024 16,235 52,444 68,679
Net book value
At 30 April 2024 1,682 35,199 36,881
At 30 April 2023 2,106 46,927 49,033
4 Debtors 2024 2023
£ £
Trade debtors 6,648 15,327
Other debtors 217,052 242,842
223,700 258,169
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 11,135 16,372
Obligations under finance lease and hire purchase contracts 26,198 36,773
Trade creditors 66,984 87,146
Corporation tax 37,184 3,561
Other taxes and social security costs 10,660 8,294
Other creditors 4,300 4,300
156,461 156,446
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
C McClennon
Directors loan account 203,601 - - 203,601
203,601 - - 203,601
The loan was subject to interest at the official rate set by HMRC.
7 Other information
Ciaran McClennon Building Contractors Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Mill
Kingsteignton Road
Newton Abbot
Devon
TQ12 2QA
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