Registered number
08598945
S.K. CONSTRUCTION (UK) LTD
Filleted Accounts
31 July 2024
S.K. CONSTRUCTION (UK) LTD
Registered number: 08598945
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Current assets
Stocks 16,654 19,478
Cash at bank and in hand 12,444 11,960
29,098 31,438
Creditors: amounts falling due within one year 4 (12,282) (12,956)
Net current assets 16,816 18,482
Total assets less current liabilities 16,816 18,482
Creditors: amounts falling due after more than one year 5 (15,427) (15,464)
Net assets 1,389 3,018
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,289 2,918
Shareholder's funds 1,389 3,018
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jaspal Singh
Director
Approved by the board on 2 October 2024
S.K. CONSTRUCTION (UK) LTD
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 5,294
At 31 July 2024 5,294
Depreciation
At 1 August 2023 5,294
At 31 July 2024 5,294
Net book value
At 31 July 2024 -
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,400 3,973
Accruals 200 106
Amounts owed to group undertakings and undertakings in which the company has a participating interest 2,983 2,200
Director's account 247 12
Taxation and social security costs 6,452 6,665
12,282 12,956
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,427 15,464
The company has borrowed £20,000 of bounce back loan which is repayable in 5 years.
6 Other information
S.K. CONSTRUCTION (UK) LTD is a private company limited by shares and incorporated in England. Its registered office is:
31 Broadstone Toad
Hornchurch
Essex
England
RM12 4AH
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