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REGISTERED NUMBER: 03062978 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

SUSSEX CONSTRUCTION LTD

SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

SUSSEX CONSTRUCTION LTD

COMPANY INFORMATION
for the year ended 31 May 2024







DIRECTORS: G R Curtis
S C Jarvis





REGISTERED OFFICE: Woodland Enterprise Centre
Hastings Road
Flimwell
East Sussex
TN5 7PR





REGISTERED NUMBER: 03062978 (England and Wales)





ACCOUNTANTS: BSR Bespoke Chartered Accountants
Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH

SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978)

BALANCE SHEET
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 485,510 382,137

CURRENT ASSETS
Stocks 164,971 54,857
Debtors 5 154,690 150,686
Cash at bank 627,609 440,931
947,270 646,474
CREDITORS
Amounts falling due within one year 6 436,439 269,971
NET CURRENT ASSETS 510,831 376,503
TOTAL ASSETS LESS CURRENT
LIABILITIES

996,341

758,640

CREDITORS
Amounts falling due after more than one
year

7

83,735

51,456
NET ASSETS 912,606 707,184

CAPITAL AND RESERVES
Called up share capital 50 50
Share premium 156,450 156,450
Revaluation reserve 129,934 129,934
Capital redemption reserve 100 100
Retained earnings 626,072 420,650
SHAREHOLDERS' FUNDS 912,606 707,184

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

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

SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978)

BALANCE SHEET - continued
31 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 14 February 2025 and were signed on its behalf by:





G R Curtis - Director


SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2024


1. STATUTORY INFORMATION

Sussex Construction Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover comprises the value of construction services supplied by the company, exclusive of value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

The company does not provide depreciation on leasehold properties on the basis that they are revalued to their fair value at the balance sheet date.

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.

Financial instruments
The company enters into basic financial instruments that give rise to financial assets and financial liabilities including trade and other debtors, trade and other creditors, bank account balances, bank loans and other loans and borrowings and investments in certain non puttable and non convertible equity instruments.

Debt instruments which are not payable or receivable within one year are initially accounted for at the transaction price and are subsequently accounted for at amortised cost using the effective interest method. Debt instruments payable and receivable within one year are measured at their undiscounted cash amounts. Where the debt instruments are treated as a financing transaction, then the financial asset or liability is measured at the present value of future cash flows based on a market rate of interest. Debt instruments which are treated as financial assets and accounted for at amortised cost are also assessed for impairment.

Equity instruments are initially accounted for at transaction price. They are subsequently accounted for at cost unless they can be accounted for at fair value based on a readily available market price or fair value. Equity instruments which are treated as financial assets and accounted for at cost are also assessed for impairment.


SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST OR VALUATION
At 1 June 2023 275,000 102,628 41,584
Additions - 50,728 -
Disposals - - -
At 31 May 2024 275,000 153,356 41,584
DEPRECIATION
At 1 June 2023 - 66,005 38,436
Charge for year - 21,838 787
Eliminated on disposal - - -
At 31 May 2024 - 87,843 39,223
NET BOOK VALUE
At 31 May 2024 275,000 65,513 2,361
At 31 May 2023 275,000 36,623 3,148

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 June 2023 162,495 14,562 596,269
Additions 140,582 - 191,310
Disposals (56,106 ) - (56,106 )
At 31 May 2024 246,971 14,562 731,473
DEPRECIATION
At 1 June 2023 95,238 14,453 214,132
Charge for year 47,524 36 70,185
Eliminated on disposal (38,354 ) - (38,354 )
At 31 May 2024 104,408 14,489 245,963
NET BOOK VALUE
At 31 May 2024 142,563 73 485,510
At 31 May 2023 67,257 109 382,137

SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 May 2024 is represented by:

Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
Valuation in 2014 98,889 - -
Valuation in 2015 (25,000 ) - -
Valuation in 2019 50,000 - -
Cost 151,111 153,356 41,584
275,000 153,356 41,584

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2014 - - 98,889
Valuation in 2015 - - (25,000 )
Valuation in 2019 - - 50,000
Cost 246,971 14,562 607,584
246,971 14,562 731,473

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

31.5.24 31.5.23
£    £   
Cost 151,111 151,111

Long leasehold buildings were valued on an open market basis on 31 May 2019 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 153,859 150,262
Other debtors 831 424
154,690 150,686

SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 10,246 9,994
Hire purchase contracts 42,018 35,230
Trade creditors 188,506 59,950
Corporation tax 107,189 61,188
Social security and other taxes 8,240 3,077
VAT 40,473 49,537
Other creditors 31,500 32,609
Directors' loan accounts 1 11,184
Accrued expenses 8,266 7,202
436,439 269,971

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans - 1-2 years 10,510 10,246
Bank loans - 2-5 years - 10,508
Hire purchase contracts 73,225 30,702
83,735 51,456

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 20,756 30,748

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SUSSEX CONSTRUCTION LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sussex Construction Ltd for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sussex Construction Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sussex Construction Ltd and state those matters that we have agreed to state to the Board of Directors of Sussex Construction Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sussex Construction Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sussex Construction Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sussex Construction Ltd. You consider that Sussex Construction 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 financial statements of Sussex Construction 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 financial statements.






BSR Bespoke Chartered Accountants
Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH


14 February 2025