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REGISTERED NUMBER: SC475581 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Fankerton Contracts Limited

Fankerton Contracts Limited (Registered number: SC475581)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Fankerton Contracts Limited (Registered number: SC475581)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,068,993 914,060

CURRENT ASSETS
Stocks 7,917 3,248
Debtors 5 518,310 180,811
Cash at bank and in hand 144,245 332,184
670,472 516,243
CREDITORS
Amounts falling due within one year 6 (650,632 ) (479,653 )
NET CURRENT ASSETS 19,840 36,590
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,088,833

950,650

CREDITORS
Amounts falling due after more than one
year

7

(266,162

)

(245,942

)

PROVISIONS FOR LIABILITIES (266,960 ) (225,485 )
NET ASSETS 555,711 479,223

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 555,709 479,221
SHAREHOLDERS' FUNDS 555,711 479,223

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Fankerton Contracts Limited (Registered number: SC475581)

Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:




Mr G Binnie - Director



Mr B Paterson - Director


Fankerton Contracts Limited (Registered number: SC475581)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Fankerton Contracts Limited is a private company, limited by shares, domiciled in Scotland, registration number SC475581. The registered office is 5 Meadow Court, Dunipace, Stirlingshire, FK6 4JU.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services in respect of groundwork contractors., excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Fankerton Contracts Limited (Registered number: SC475581)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 1,227,582 419 206,283 2,308 1,436,592
Additions 512,354 - 32,500 - 544,854
Disposals (146,545 ) - (12,101 ) - (158,646 )
At 30 April 2024 1,593,391 419 226,682 2,308 1,822,800
DEPRECIATION
At 1 May 2023 446,195 411 75,033 893 522,532
Charge for year 277,944 8 39,395 498 317,845
Eliminated on disposal (77,783 ) - (8,787 ) - (86,570 )
At 30 April 2024 646,356 419 105,641 1,391 753,807
NET BOOK VALUE
At 30 April 2024 947,035 - 121,041 917 1,068,993
At 30 April 2023 781,387 8 131,250 1,415 914,060

Fankerton Contracts Limited (Registered number: SC475581)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2023 950,247 128,902 1,079,149
Additions 433,874 32,500 466,374
Disposals (122,000 ) - (122,000 )
Transfer to ownership (8,600 ) - (8,600 )
At 30 April 2024 1,253,521 161,402 1,414,923
DEPRECIATION
At 1 May 2023 380,523 41,840 422,363
Charge for year 213,410 28,492 241,902
Eliminated on disposal (64,127 ) - (64,127 )
Transfer to ownership (5,225 ) - (5,225 )
At 30 April 2024 524,581 70,332 594,913
NET BOOK VALUE
At 30 April 2024 728,940 91,070 820,010
At 30 April 2023 569,724 87,062 656,786

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 463,667 180,651
Other debtors 54,643 160
518,310 180,811

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,000 9,808
Hire purchase contracts 236,381 186,078
Trade creditors 420,268 251,088
Taxation and social security (34,909 ) 16,211
Other creditors 18,892 16,468
650,632 479,653

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 18,079 28,270
Hire purchase contracts 248,083 217,672
266,162 245,942

Fankerton Contracts Limited (Registered number: SC475581)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Hire purchase contracts 484,464 403,750

Hire purchase creditors are secured on the assets to which they relate.