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Registered Number: 11464203
England and Wales

 

 

 

PHELEMO CONSTRUCTION LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 10,369    11,160 
10,369    11,160 
Current assets      
Debtors: amounts falling due within one year 7,914    42,170 
Cash at bank and in hand 1,931    1,559 
9,845    43,729 
Creditors: amount falling due within one year (8,781)   (33,183)
Net current assets 1,064    10,546 
 
Total assets less current liabilities 11,433    21,706 
Creditors: amount falling due after more than one year (3,162)   (7,387)
Net assets 8,271    14,319 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 8,261    14,309 
Shareholders' funds 8,271    14,319 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 21 December 2024 and were signed by:


-------------------------------
Ugochukwu Ugwuegbulam
Director
1
General Information
Phelemo Construction Limited is a private company, limited by shares, registered in England and Wales, registration number 11464203, registration address Flat 59, Astley House, Rowcross Street, London, SE1 5HT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 August 2023 4,838    16,000    456    21,294 
Additions     2,000    2,000 
Disposals      
At 31 July 2024 4,838    16,000    2,456    23,294 
Depreciation
At 01 August 2023 1,940    7,844    350    10,134 
Charge for year 725    2,039    27    2,791 
On disposals      
At 31 July 2024 2,665    9,883    377    12,925 
Net book values
Closing balance as at 31 July 2024 2,173    6,117    2,079    10,369 
Opening balance as at 01 August 2023 2,898    8,156    106    11,160 


2