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Registration number: 08883615

Raworth Construction Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Raworth Construction Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

Detailed Profit and Loss Account

9 to 11

 

Raworth Construction Ltd

Company Information

Director

Mr Sam Richard Raworth

Registered office

51 Elderdene, Chinnor
Oxfordshire
England
OX39 4EJ

Accountants

MG Accountants & Tax Advisers Ltd
Chartered Accountants
166 College Road
Harrow
HA1 1BH

 

Raworth Construction Ltd

(Registration number: 08883615)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

2,178

Current assets

 

Debtors

5

28,644

35,510

Cash at bank and in hand

 

58,694

104,973

 

87,338

140,483

Creditors: Amounts falling due within one year

6

(37,934)

(71,288)

Net current assets

 

49,404

69,195

Total assets less current liabilities

 

49,404

71,373

Creditors: Amounts falling due after more than one year

6

(34,769)

(40,345)

Net assets

 

14,635

31,028

Capital and reserves

 

Called up share capital

150

150

Retained earnings

14,485

30,878

Shareholders' funds

 

14,635

31,028

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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 Sam Richard Raworth
Director

 

Raworth Construction Ltd

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

1

General information

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

The address of its registered office is:
51 Elderdene, Chinnor
Oxfordshire
England
OX39 4EJ
England

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.

 

Raworth Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:

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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Raworth Construction Ltd

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

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 3 (2023 - 3).

 

Raworth Construction Ltd

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

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

17,710

17,710

At 30 April 2024

17,710

17,710

Depreciation

At 1 May 2023

15,532

15,532

Charge for the year

2,178

2,178

At 30 April 2024

17,710

17,710

Carrying amount

At 30 April 2024

-

-

At 30 April 2023

2,178

2,178

5

Debtors

Current

2024
£

2023
£

Trade debtors

24,197

35,510

Other debtors

4,447

-

 

28,644

35,510

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

5,290

6,786

Taxation and social security

8,375

44,157

Accruals and deferred income

933

2,665

Other creditors

23,336

17,680

37,934

71,288

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

34,769

40,345

 

Raworth Construction Ltd

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

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

34,769

40,345

8

Related party transactions

During the year company made the following related party transactions:

(Director)
At the balance sheet date, the amount due from the director was £18,990 (2023 £17,680).

 

Raworth Construction Ltd

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

Director's remuneration

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

2024
£

2023
£

Remuneration

9,100

9,100

 

Raworth Construction Ltd

Detailed Profit and Loss Account for the Year Ended 30 April 2024

2024
£

2023
£

Turnover (analysed below)

485,967

451,076

Cost of sales (analysed below)

(401,166)

(286,490)

Gross profit

84,801

164,586

Gross profit (%)

17.45%

36.49%

Administrative expenses

Employment costs (analysed below)

(13,670)

(14,563)

Establishment costs (analysed below)

(6,030)

(5,997)

General administrative expenses (analysed below)

(30,714)

(32,047)

Finance charges (analysed below)

(102)

(102)

Depreciation costs (analysed below)

(2,179)

(4,428)

(52,695)

(57,137)

Operating profit

32,106

107,449

Other interest receivable and similar income (analysed below)

1,894

342

Interest payable and similar expenses (analysed below)

(913)

(1,231)

981

(889)

Profit before tax

33,087

106,560

 

Raworth Construction Ltd

Detailed Profit and Loss Account for the Year Ended 30 April 2024

2024
£

2023
£

   

Turnover

Sale of goods, UK

485,967

451,076

   

Cost of sales

Materials

(130,643)

(118,700)

Direct costs

(54,571)

(2,335)

Wages and salaries (excluding directors)

(500)

(12,609)

Subcontract cost

(215,452)

(152,846)

(401,166)

(286,490)

   

Employment costs

Directors remuneration

(9,100)

(9,100)

Staff training

(2,596)

(1,890)

Staff welfare

-

(2,342)

Travelling

(1,974)

(1,231)

(13,670)

(14,563)

   

Establishment costs

Rent

(1,800)

(3,317)

Insurance

(3,918)

(2,368)

Use of home as office

(312)

(312)

(6,030)

(5,997)

   

General administrative expenses

Telephone and fax

(50)

(420)

Computer software and maintenance costs

(613)

(1,779)

Printing, postage and stationery

776

(1,165)

Trade subscriptions

(1,080)

(680)

Hire of other assets (Operating leases)

(3,248)

(3,674)

Cleaning

(2,785)

(2,378)

Motor expenses

(8,309)

(11,873)

Travel and subsistence

(2,350)

(3,001)

Advertising

(2,265)

(1,941)

Customer entertaining (disallowable for tax)

(8,810)

(2,346)

Accountancy fees

(1,980)

(1,980)

Legal and professional fees

-

(810)

(30,714)

(32,047)

   

Finance charges

Bank charges

(102)

(102)

   

Depreciation costs

Depreciation of motor vehicles (owned)

(2,179)

(4,428)

 

Raworth Construction Ltd

Detailed Profit and Loss Account for the Year Ended 30 April 2024

2024
£

2023
£

   

Other interest receivable and similar income

Other interest receivable

1,894

342

   

Interest payable and similar expenses

Other interest payable

(913)

(1,231)