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Registered number: 03800172
Essex Development & Construction Limited
Financial Statements
For The Year Ended 31 July 2024
JDL Business Services Limited
Accountants and Consultants
304 High Road
Benfleet
Essex
SS7 5HB
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 03800172
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 527,203 101,627
527,203 101,627
CURRENT ASSETS
Stocks 5 50,962 92,808
Debtors 6 129,863 246,032
Cash at bank and in hand 866,801 1,174,025
1,047,626 1,512,865
Creditors: Amounts Falling Due Within One Year 7 (230,666 ) (313,309 )
NET CURRENT ASSETS (LIABILITIES) 816,960 1,199,556
TOTAL ASSETS LESS CURRENT LIABILITIES 1,344,163 1,301,183
Creditors: Amounts Falling Due After More Than One Year 8 (6,028 ) (6,767 )
NET ASSETS 1,338,135 1,294,416
CAPITAL AND RESERVES
Called up share capital 10 1,100 1,100
Profit and Loss Account 1,337,035 1,293,316
SHAREHOLDERS' FUNDS 1,338,135 1,294,416
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mark Lloyd
Director
12/03/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 August 2022 1,100 1,295,614 1,296,714
Profit for the year and total comprehensive income - 59,702 59,702
Dividends paid - (62,000) (62,000)
As at 31 July 2023 and 1 August 2023 1,100 1,293,316 1,294,416
Profit for the year and total comprehensive income - 107,719 107,719
Dividends paid - (64,000) (64,000)
As at 31 July 2024 1,100 1,337,035 1,338,135
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Essex Development & Construction Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03800172 . The registered office is 304 High Road, Benfleet, Essex, SS7 5HB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation
Plant & Machinery 20% reducing balance per annum
Motor Vehicles 20% reducing balance per annum
Fixtures & Fittings 20% reducing balance per annum
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 4
Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 9)
9 9
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 August 2023 - 239,410 57,049 1,293 297,752
Additions 431,572 18,500 - - 450,072
Disposals - (3,500 ) - - (3,500 )
Transfers - (29,810 ) 29,810 - -
As at 31 July 2024 431,572 224,600 86,859 1,293 744,324
Depreciation
As at 1 August 2023 - 165,534 29,466 1,125 196,125
Provided during the period - 16,521 7,353 34 23,908
Disposals - (2,912 ) - - (2,912 )
Transfers - (20,042 ) 20,042 - -
As at 31 July 2024 - 159,101 56,861 1,159 217,121
Net Book Value
As at 31 July 2024 431,572 65,499 29,998 134 527,203
As at 1 August 2023 - 73,876 27,583 168 101,627
5. Stocks
2024 2023
£ £
Materials 14,133 33,460
Work in progress 36,829 59,348
50,962 92,808
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 85,125 194,026
Other debtors 16,022 16,022
VAT 28,716 35,984
129,863 246,032
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,100 13,948
Trade creditors 77,770 136,219
Bank loans and overdrafts - 3,577
Corporation tax 39,241 18,608
Other taxes and social security 10,724 13,255
Net wages 4,383 4,084
Pensions creditor 496 487
Subcontractor creditor 5,983 3,618
Accruals and deferred income 10,423 30,028
Directors' loan accounts 71,546 89,485
230,666 313,309
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,028 6,767
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,100 13,948
Later than one year and not later than five years 6,028 6,767
16,128 20,715
16,128 20,715
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,100 1,100
Page 6