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Registered number: 10024524
Stuart Pitman Builders Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Chippendale and Clark
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stuart Pitman Builders Ltd for the year ended 31 August 2024 which comprise the Profit and Loss Account, the Balance Sheet, 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 Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made solely to the director of Stuart Pitman Builders Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stuart Pitman Builders Ltd and state those matters that we have agreed to state to the director of Stuart Pitman Builders Ltd in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.
It is your duty to ensure that Stuart Pitman Builders 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 Stuart Pitman Builders Ltd . You consider that Stuart Pitman Builders 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 Stuart Pitman Builders 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.
Signed
Philip Clark
21/03/2025
Chippendale and Clark
Chartered Management Accountants
7/8 Avon Reach
Chippenham
SN15 1EE
Page 1
Page 2
Balance Sheet
Registered number: 10024524
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,600 7,150
Tangible Assets 5 3,379 3,518
9,979 10,668
CURRENT ASSETS
Cash at bank and in hand 34,686 43,148
34,686 43,148
Creditors: Amounts Falling Due Within One Year 6 (33,134 ) (38,566 )
NET CURRENT ASSETS (LIABILITIES) 1,552 4,582
TOTAL ASSETS LESS CURRENT LIABILITIES 11,531 15,250
PROVISIONS FOR LIABILITIES
Deferred Taxation (670 ) (668 )
NET ASSETS 10,861 14,582
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 10,860 14,581
SHAREHOLDERS' FUNDS 10,861 14,582
Page 2
Page 3
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Stuart Pitman
Director
21/03/2025
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Stuart Pitman Builders Ltd Registered number 10024524 is a limited by shares company incorporated in England & Wales. The Registered Office is The Orchids, Grittleton, Chippenham, Wiltshire, SN14 6AJ.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. 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:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 11,000
As at 31 August 2024 11,000
Amortisation
As at 1 September 2023 3,850
Provided during the period 550
As at 31 August 2024 4,400
Net Book Value
As at 31 August 2024 6,600
As at 1 September 2023 7,150
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5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 3,330 15,682 915 19,927
Additions 612 - 265 877
As at 31 August 2024 3,942 15,682 1,180 20,804
Depreciation
As at 1 September 2023 2,070 13,587 752 16,409
Provided during the period 384 525 107 1,016
As at 31 August 2024 2,454 14,112 859 17,425
Net Book Value
As at 31 August 2024 1,488 1,570 321 3,379
As at 1 September 2023 1,260 2,095 163 3,518
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,373 5,346
Corporation tax 11,112 4,326
VAT 2,619 4,514
Other creditors 20 -
Accruals and deferred income 1,000 1,000
Director's loan account 14,010 23,380
33,134 38,566
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5