Company registration number 06572888 (England and Wales)
SOMERSET STRUCTURAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
SOMERSET STRUCTURAL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SOMERSET STRUCTURAL LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,412
8,822
Current assets
Debtors
4
23,723
39,196
Cash at bank and in hand
78,775
89,849
102,498
129,045
Creditors: amounts falling due within one year
5
(21,992)
(40,588)
Net current assets
80,506
88,457
Total assets less current liabilities
88,918
97,279
Provisions for liabilities
(104)
(206)
Net assets
88,814
97,073
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
88,813
97,072
Total equity
88,814
97,073
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 30 January 2025
Mr B B Buchanan
Director
Company registration number 06572888 (England and Wales)
SOMERSET STRUCTURAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information
Somerset Structural Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 18, The Shakespeare Centre, Shakespeare Street, Southport, Merseyside, United Kingdom, PR8 5AB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
not depreciated
Fixtures and fittings
15% reducing balance
Computers
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax has not been discounted.
SOMERSET STRUCTURAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 May 2023 and 30 April 2024
8,000
2,078
2,260
12,338
Depreciation and impairment
At 1 May 2023
1,734
1,782
3,516
Depreciation charged in the year
52
358
410
At 30 April 2024
1,786
2,140
3,926
Carrying amount
At 30 April 2024
8,000
292
120
8,412
At 30 April 2023
8,000
344
478
8,822
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
20,928
36,679
Other debtors
2,795
2,517
23,723
39,196
SOMERSET STRUCTURAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
7,828
21,555
Other creditors
14,164
19,033
21,992
40,588