Registration number:
Westcountry Builders & Construction Limited
for the Year Ended 30 April 2024
Westcountry Builders & Construction Limited
Contents
Company Information |
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Accountants' Report |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Westcountry Builders & Construction Limited
Company Information
Director |
Mrs Ann-Marie Dixon |
Company secretary |
Mrs Ann-Marie Dixon |
Registered office |
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Accountants |
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Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Westcountry Builders & Construction Limited
for the Year Ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Westcountry Builders & Construction Limited for the year ended 30 April 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of International Accountants, we are subject to its ethical and other professional requirements.
This report is made solely to the Board of Directors of Westcountry Builders & Construction Limited, as a body, in accordance with the terms of our engagement letter dated 1 May 2006. Our work has been undertaken solely to prepare for your approval the accounts of Westcountry Builders & Construction Limited and state those matters that we have agreed to state to the Board of Directors of Westcountry Builders & Construction Limited, as a body, in this report . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Westcountry Builders & Construction Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Westcountry Builders & Construction Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Westcountry Builders & Construction Limited. You consider that Westcountry Builders & Construction Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Westcountry Builders & Construction Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Queen Street
Colyton
Devon
EX24 6JU
Westcountry Builders & Construction Limited
(Registration number: 05794749)
Abridged Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Creditors: Amounts falling due within one year |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Accruals and deferred income |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Retained earnings |
31,607 |
28,255 |
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Shareholders' funds |
31,609 |
28,257 |
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:
• |
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• |
The director acknowledges her 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.
Westcountry Builders & Construction Limited
(Registration number: 05794749)
Abridged Balance Sheet as at 30 April 2024
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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
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Westcountry Builders & Construction Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
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 abridged 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 abridged 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.
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.
Westcountry Builders & Construction Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024
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:
Asset class |
Depreciation method and rate |
Office equipment |
25% reducing balance basis |
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 are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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.
Westcountry Builders & Construction Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Land and buildings |
Office equipment |
Total |
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Cost or valuation |
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At 1 May 2023 |
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Additions |
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- |
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At 30 April 2024 |
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Depreciation |
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At 1 May 2023 |
- |
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Charge for the year |
- |
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At 30 April 2024 |
- |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Included within the net book value of land and buildings above is £82,140 (2023 - £46,740) in respect of freehold land and buildings.
Debtors |
Debtors includes £Nil (2023 - £Nil) due after more than one year.
Westcountry Builders & Construction Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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2 |
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2 |