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Registration number: 07216843

A & R Contracting Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

A & R Contracting Ltd

Contents

Directors' Report

1

Accountants' Report

2

Profit and Loss Account

3

Balance Sheet

4 to 5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 10

 

A & R Contracting Ltd

Directors' Report for the Year Ended 31 May 2024

The directors present their report and the financial statements for the year ended 31 May 2024.

Directors of the company

The directors who held office during the year were as follows:

R P Stone

A S Young

Principal activity

The principal activity of the company is the supply of labour and materials in the road surfacing and maintenance industry.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 12 February 2025 and signed on its behalf by:
 

.........................................
R P Stone
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of A & R Contracting Ltd

for the Year Ended 31 May 2024
 

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A & R Contracting Ltd for the year ended 31 May 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of A & R Contracting Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of A & R Contracting Ltd and state those matters that we have agreed to state to the Board of Directors of A & R Contracting Ltd. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & R Contracting Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A & R Contracting Ltd 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 A & R Contracting Ltd. You consider that A & R Contracting Ltd 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 A & R Contracting Ltd. 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.

......................................

C W Accountancy Services (Frome) Limited
7a King Street
Frome
Somerset
BA11 1BH

12 February 2025

 

A & R Contracting Ltd

Profit and Loss Account for the Year Ended 31 May 2024

Note

2024
£

2023
£

Turnover

 

287,134

336,550

Cost of sales

 

(183,504)

(227,322)

Gross profit

 

103,630

109,228

Administrative expenses

 

(2,877)

(118,304)

Other operating income

 

23,050

21,570

Operating profit

 

123,803

12,494

(Loss)/gain on financial assets at fair value through profit and loss

 

(5,792)

29,290

Other interest receivable and similar income

 

1,674

610

Interest payable and similar expenses

 

(19,417)

(15,711)

   

(23,535)

14,189

Profit before tax

100,268

26,683

Tax on profit

 

(16,992)

634

Profit for the financial year

 

83,276

27,317

 

A & R Contracting Ltd

(Registration number: 07216843)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

25,835

18,446

Investment property

5

384,750

685,542

Investments

6

60,888

-

 

471,473

703,988

Current assets

 

Debtors

7

50,034

65,163

Cash at bank and in hand

 

294,508

200,115

 

344,542

265,278

Creditors: Amounts falling due within one year

8

(265,867)

(259,100)

Net current assets

 

78,675

6,178

Total assets less current liabilities

 

550,148

710,166

Creditors: Amounts falling due after more than one year

8

(169,856)

(331,361)

Provisions for liabilities

(17,286)

(25,619)

Net assets

 

363,006

353,186

Capital and reserves

 

Called up share capital

100

100

Other reserves

52,768

94,279

Retained earnings

310,138

258,807

Shareholders' funds

 

363,006

353,186

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

Directors' 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 directors acknowledge their 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.

 

A & R Contracting Ltd

(Registration number: 07216843)
Balance Sheet as at 31 May 2024

Approved and authorised by the Board on 12 February 2025 and signed on its behalf by:
 

.........................................
A S Young
Director

 

A & R Contracting Ltd

Statement of Changes in Equity for the Year Ended 31 May 2024

Share capital
£

Non-distributable reserve
£

Other reserves
£

Retained earnings
£

At 1 June 2023

100

-

94,279

258,807

Profit for the year

-

-

-

83,276

Other comprehensive income

-

-

(94,279)

-

Total comprehensive income

-

-

(94,279)

83,276

Dividends

-

-

-

(28,000)

Transfers

-

52,768

-

(3,945)

At 31 May 2024

100

52,768

-

310,138

Total
£

At 1 June 2023

353,186

Profit for the year

83,276

Other comprehensive income

(94,279)

Total comprehensive income

(11,003)

Dividends

(28,000)

Transfers

48,823

At 31 May 2024

363,006

Share capital
£

Other reserves
£

Retained earnings
£

Total
£

At 1 June 2022

100

70,554

332,055

402,709

Profit for the year

-

-

27,317

27,317

Other comprehensive income

-

23,725

(23,725)

-

Total comprehensive income

-

23,725

3,592

27,317

Dividends

-

-

(76,840)

(76,840)

At 31 May 2023

100

94,279

258,807

353,186

 

A & R Contracting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

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

The address of its registered office is:
7a King Street
Frome
Somerset
BA11 1BH

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, and is shown net of value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred tax, and is recognised in profit or loss.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

A & R Contracting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

25% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment

25% on cost

Investment properties

Nil

Investment property

Investment property is carried at fair value, which in the directors' opinion is the cost of the properties.

Investments

Investment is carried at fair value, which in the directors' opinion is the cost of the investment.

Trade debtors

Trade debtors are amounts due from customers for materials sold or services performed in the ordinary course of business, and are recognised initially at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers, and are recognised initially at the transaction price.

Borrowings

Bank loans 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.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

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.

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.

 

A & R Contracting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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 directors) during the year, was 8 (2023 - 8).

4

Tangible assets

Plant and equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

17,509

37,594

55,103

Additions

16,000

-

16,000

At 31 May 2024

33,509

37,594

71,103

Depreciation

At 1 June 2023

13,665

22,992

36,657

Charge for the year

4,961

3,650

8,611

At 31 May 2024

18,626

26,642

45,268

Carrying amount

At 31 May 2024

14,883

10,952

25,835

At 31 May 2023

3,844

14,602

18,446

5

Investment properties

2024
£

As at 1 June 2023

685,542

Disposals

(249,544)

Fair value adjustments

(51,248)

384,750

6

Investments

2024
£

2023
£

Other investments

60,888

-

 

A & R Contracting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

24,698

47,428

Other debtors

 

25,336

12,775

Income tax asset

-

4,960

 

50,034

65,163

8

Creditors

Amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

19,549

19,175

Trade creditors

 

3,886

2,266

Taxation and social security

 

33,970

20,393

Other creditors

 

208,462

217,266

 

265,867

259,100

Amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

169,856

331,361