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REGISTERED NUMBER: 03393672 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Able Construction (Northern) Limited

Able Construction (Northern) Limited (Registered number: 03393672)






Contents of the Financial Statements
for the year ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Able Construction (Northern) Limited

Company Information
for the year ended 31 July 2024







DIRECTORS: P Fowle
P Fowle



SECRETARY: P Fowle



REGISTERED OFFICE: Park Works
Sunderland Road
Felling
Gateshead
Tyne & Wear
NE10 9LR



REGISTERED NUMBER: 03393672 (England and Wales)



ACCOUNTANTS: TTR Barnes
Chartered Accountants
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG



BANKERS: Lloyds TSB Bank plc
19 Market Place
Durham City
Co. Durham
DH1 3NL

Able Construction (Northern) Limited (Registered number: 03393672)

Statement of Financial Position
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 14,080 40,039
Investment property 6 360,000 358,580
374,080 398,619

CURRENT ASSETS
Debtors 7 411,422 712,525
Investments 8 - 241,346
Cash at bank and in hand 2,043,136 1,127,932
2,454,558 2,081,803
CREDITORS
Amounts falling due within one year 9 741,690 496,838
NET CURRENT ASSETS 1,712,868 1,584,965
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,086,948

1,983,584

PROVISIONS FOR LIABILITIES - 21,998
NET ASSETS 2,086,948 1,961,586

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,086,946 1,961,584
SHAREHOLDERS' FUNDS 2,086,948 1,961,586

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Able Construction (Northern) Limited (Registered number: 03393672)

Statement of Financial Position - continued
31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:





P Fowle - Director


Able Construction (Northern) Limited (Registered number: 03393672)

Notes to the Financial Statements
for the year ended 31 July 2024

1. STATUTORY INFORMATION

Able Construction (Northern) 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 as modified by the revaluation of certain assets.

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider to be appropriate.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised as transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Able Construction (Northern) Limited (Registered number: 03393672)

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

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and other post-retirement benefits
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.

Amounts due under contracts
Amounts due under contracts are valued using the stage of completion method against the actual value of the contract entered into. Consideration is taken into account of any potential bad debt or credit risk which may be attached to any contracts in place.

Current asset investments
Current asset investments are shown at market value. Any change in market value is recognised in the statement of Income and Retained Earnings.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 2,020
AMORTISATION
At 1 August 2023
and 31 July 2024 2,020
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

Able Construction (Northern) Limited (Registered number: 03393672)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 273,855
Additions 2,417
Disposals (77,119 )
At 31 July 2024 199,153
DEPRECIATION
At 1 August 2023 233,816
Charge for year 7,621
Eliminated on disposal (56,364 )
At 31 July 2024 185,073
NET BOOK VALUE
At 31 July 2024 14,080
At 31 July 2023 40,039

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 358,580
Revaluations 1,420
At 31 July 2024 360,000
NET BOOK VALUE
At 31 July 2024 360,000
At 31 July 2023 358,580

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2024 1,420
Valuation in 2023 (10,546 )
Valuation in 2022 (158,198 )
Cost 527,324
360,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 527,324 527,324

Investment property was valued on on an open market basis on 13 February 2024 by Lofthouse and Partners .

Able Construction (Northern) Limited (Registered number: 03393672)

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

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 168,179 131,500
Other debtors 232,808 570,590
400,987 702,090

Amounts falling due after more than one year:
Other debtors 10,435 10,435

Aggregate amounts 411,422 712,525

8. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments - 241,346

Market value of listed investments at 31 July 2024 - £Nil (2023 - £241,346).

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 476,520 417,280
Taxation and social security 120,233 52,879
Other creditors 144,937 26,679
741,690 496,838

10. ULTIMATE CONTROLLING PARTY

The company was controlled by Mr and Mrs P Fowle throughout both years.