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REGISTERED NUMBER: 03439914 (England and Wales)






















S Voase Builders Limited

Unaudited Financial Statements for the Year Ended 31st May 2024






S Voase Builders Limited (Registered number: 03439914)






Contents of the Financial Statements
for the year ended 31st May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S Voase Builders Limited

Company Information
for the year ended 31st May 2024







DIRECTORS: S Voase
V M Voase
K S C Ritchie





REGISTERED OFFICE: Fretwells Business Park
Oslo Road
Sutton Fields Industrial Estate
Hull
East Yorkshire
HU7 0YN





REGISTERED NUMBER: 03439914 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA

S Voase Builders Limited (Registered number: 03439914)

Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 76,791 95,676

CURRENT ASSETS
Stocks 5 23,961 27,233
Debtors 6 785,878 727,240
Cash at bank and in hand 93,184 424,834
903,023 1,179,307
CREDITORS
Amounts falling due within one year 7 854,384 854,445
NET CURRENT ASSETS 48,639 324,862
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,430

420,538

PROVISIONS FOR LIABILITIES 16,445 21,576
NET ASSETS 108,985 398,962

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 108,983 398,960
SHAREHOLDERS' FUNDS 108,985 398,962

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

S Voase Builders Limited (Registered number: 03439914)

Balance Sheet - continued
31st May 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 12th February 2025 and were signed on its behalf by:





V M Voase - Director


S Voase Builders Limited (Registered number: 03439914)

Notes to the Financial Statements
for the year ended 31st May 2024

1. STATUTORY INFORMATION

S Voase Builders Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Construction contracts

When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to insert detail.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Interest

Interest income is recognised using the effective interest method.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Short leasehold propertyNot depreciated
Plant and machinery15% on reducing balance
Motor vehicles25% on reducing balance
Fixtures and fittings 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Amounts recoverable on contracts, which are included in work in progress, are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included within creditors as payments received on account.


S Voase Builders Limited (Registered number: 03439914)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the performance model.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 26 ) .

S Voase Builders Limited (Registered number: 03439914)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st June 2023 24,405 70,251 145,666 240,322
Additions 1,748 477 - 2,225
At 31st May 2024 26,153 70,728 145,666 242,547
DEPRECIATION
At 1st June 2023 17,909 46,743 79,994 144,646
Charge for year 1,148 3,544 16,418 21,110
At 31st May 2024 19,057 50,287 96,412 165,756
NET BOOK VALUE
At 31st May 2024 7,096 20,441 49,254 76,791
At 31st May 2023 6,496 23,508 65,672 95,676

5. STOCKS
2024 2023
£    £   
Raw materials 15,111 15,000
Work-in-progress 8,850 12,233
23,961 27,233

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 738,205 684,902
Other debtors 47,673 42,338
785,878 727,240

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 399,475 479,647
Taxation and social security 219,258 270,695
Other creditors 235,651 104,103
854,384 854,445

8. PENSION COMMITMENTS

The company contributes to employees' private defined contribution pension schemes. The charge for the year in respect of both current and former employees was £58,410 (2023 £221,543). The amount outstanding at the year end was £1,726 (2023 £nil).

S Voase Builders Limited (Registered number: 03439914)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

9. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £37,500 (2023 - £62,500). The total commitment covers the period to November 2025.

10. RELATED PARTY DISCLOSURES

During the year, total dividends paid amounted to £450,000 (2023 - £500,000).