Sean Reilly Developments Limited 04813049 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of construction and civil engineering. Digita Accounts Production Advanced 6.30.9574.0 true 04813049 2023-07-01 2024-06-30 04813049 2024-06-30 04813049 bus:OrdinaryShareClass1 2024-06-30 04813049 core:CurrentFinancialInstruments 2024-06-30 04813049 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 04813049 core:FurnitureFittingsToolsEquipment 2024-06-30 04813049 core:MotorVehicles 2024-06-30 04813049 core:OtherPropertyPlantEquipment 2024-06-30 04813049 bus:SmallEntities 2023-07-01 2024-06-30 04813049 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 04813049 bus:FilletedAccounts 2023-07-01 2024-06-30 04813049 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 04813049 bus:RegisteredOffice 2023-07-01 2024-06-30 04813049 bus:Director1 2023-07-01 2024-06-30 04813049 bus:Director2 2023-07-01 2024-06-30 04813049 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 04813049 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04813049 bus:Agent1 2023-07-01 2024-06-30 04813049 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 04813049 core:MotorVehicles 2023-07-01 2024-06-30 04813049 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 04813049 core:PlantMachinery 2023-07-01 2024-06-30 04813049 core:Vehicles 2023-07-01 2024-06-30 04813049 countries:AllCountries 2023-07-01 2024-06-30 04813049 2023-06-30 04813049 core:FurnitureFittingsToolsEquipment 2023-06-30 04813049 core:MotorVehicles 2023-06-30 04813049 core:OtherPropertyPlantEquipment 2023-06-30 04813049 2022-07-01 2023-06-30 04813049 2023-06-30 04813049 bus:OrdinaryShareClass1 2023-06-30 04813049 core:CurrentFinancialInstruments 2023-06-30 04813049 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 04813049 core:FurnitureFittingsToolsEquipment 2023-06-30 04813049 core:MotorVehicles 2023-06-30 04813049 core:OtherPropertyPlantEquipment 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04813049

Sean Reilly Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Sean Reilly Developments Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Sean Reilly Developments Limited

Company Information

Directors

Mr S A Reilly

Mrs R Reilly

Registered office

C/o Bissell & Brown
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ

Accountants

Bissell & Brown Midlands Ltd
Chartered Certified Accountants
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Sean Reilly Developments Limited
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sean Reilly Developments Limited for the year ended 30 June 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Sean Reilly Developments Limited, as a body, in accordance with the terms of our engagement letter dated 1 October 2021. Our work has been undertaken solely to prepare for your approval the accounts of Sean Reilly Developments Limited and state those matters that we have agreed to state to the Board of Directors of Sean Reilly Developments Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sean Reilly Developments Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Sean Reilly Developments Limited 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 Sean Reilly Developments Limited. You consider that Sean Reilly Developments Limited 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 Sean Reilly Developments Limited. 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.

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

Bissell & Brown Midlands Ltd
Chartered Certified Accountants
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ

18 March 2025

 

Sean Reilly Developments Limited

(Registration number: 04813049)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

126,734

59,952

Current assets

 

Stocks

5

5,000

5,000

Debtors

6

94,006

243,593

Cash at bank and in hand

 

412,203

355,797

 

511,209

604,390

Creditors: Amounts falling due within one year

7

(100,782)

(207,479)

Net current assets

 

410,427

396,911

Total assets less current liabilities

 

537,161

456,863

Provisions for liabilities

(31,683)

(14,988)

Net assets

 

505,478

441,875

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

505,378

441,775

Shareholders' funds

 

505,478

441,875

For the financial year ending 30 June 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the directors' report and the Profit and Loss Account.

Approved and authorised by the Board on 18 March 2025 and signed on its behalf by:
 

.........................................
Mr S A Reilly
Director

.........................................
Mrs R Reilly
Director

 
     
 

Sean Reilly Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
C/o Bissell & Brown
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ
United Kingdom

The principal place of business is:
58 Stonerwood Avenue
Birmingham
B28 0AY
United Kingdom

These financial statements were authorised for issue by the Board on 18 March 2025.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Sean Reilly Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 in the countries where the company operates and generates taxable income.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Sean Reilly Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

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

Borrowings 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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Sean Reilly Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
Trade debtors
Trade debtors which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price. Trade debtors are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

Where the arrangement with a trade debtor constitutes a financing transaction, the debtor is initially and subsequently measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

A provision for impairment of trade debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss.

 Recognition and measurement
Financial instruments are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Trade creditors
Trade creditors payable within one year that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Where the arrangement with a trade creditor constitutes a financing transaction, the creditor is initially and subsequently measured at the present value of future payments discounted at a market rate of interest for a similar instrument.

Borrowings
Borrowings are initially recognised at the transaction price, including transaction costs, and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.

Commitments to receive a loan are measured at cost less impairment.

 Impairment
A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Sean Reilly Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery, etc
£

Total
£

Cost or valuation

At 1 July 2023

5,560

76,667

15,635

97,862

Additions

-

63,015

23,900

86,915

Disposals

-

(3,840)

-

(3,840)

At 30 June 2024

5,560

135,842

39,535

180,937

Depreciation

At 1 July 2023

1,390

23,513

13,006

37,909

Charge for the year

1,043

17,064

2,027

20,134

Eliminated on disposal

-

(3,840)

-

(3,840)

At 30 June 2024

2,433

36,737

15,033

54,203

Carrying amount

At 30 June 2024

3,127

99,105

24,502

126,734

At 30 June 2023

4,170

53,153

2,629

59,952

5

Stocks

2024
£

2023
£

Work in progress

5,000

5,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

86,994

241,809

Prepayments

7,012

1,784

 

94,006

243,593

 

Sean Reilly Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7.1

12,230

451

Trade creditors

 

3,599

24,422

Taxation and social security

 

56,700

93,664

Accruals and deferred income

 

27,390

52,390

Other creditors

 

863

36,552

 

100,782

207,479

7.1

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Directors loan account

12,230

451

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100