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REGISTERED NUMBER: 01106632 (England and Wales)















Saul Construction Limited

Strategic Report, Report of the Director and

Financial Statements For The Year Ended 31 March 2024






Saul Construction Limited (Registered number: 01106632)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 6

Balance Sheet 7

Statement of Changes in Equity 8

Cash Flow Statement 9

Notes to the Cash Flow Statement 10

Notes to the Financial Statements 11


Saul Construction Limited

Company Information
For The Year Ended 31 March 2024







DIRECTOR: J R Saul



REGISTERED OFFICE: Burntwood Office Park
Brierley Common
Brierley
Barnsley
South Yorkshire
S72 9ET



REGISTERED NUMBER: 01106632 (England and Wales)



AUDITORS: Kingswood Allotts Limited, Statutory Auditor
Chartered Accountants
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU



BANKERS: HSBC
5 Market Hill
Barnsley
South Yorkshire
S70 2PY

Saul Construction Limited (Registered number: 01106632)

Strategic Report
For The Year Ended 31 March 2024

The director presents his strategic report for the year ended 31 March 2024.

REVIEW OF BUSINESS
During the year, the company saw a 7.2% decrease in turnover following a reduction in house sales in the year. Gross profit and net profit both decreased from 2023, reflecting the challenges faced with increased materials and staff costs, as well as the fall in revenue.

The company remains profitable and is expected to continue with its house construction and sales and wider construction contract work throughout the 2024-25 year.

KEY PERFORMANCE INDICATORS
The principal key performance indicators for the company are levels of turnover, gross profit and net profit as follows:

2024 2023
£    £   
Turnover 10,321,880 11,123,992
Gross profit 1,798,381 1,884,399
Net profit 822,774 1,039,901
Net assets 16,114,275 15,328,501

The directors are satisfied with the above key performance indicators.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors consider that the main areas of concern are: -

- Potential legislative changes to the housing and construction markets following the change in government in 2024;
- The impact of the national economy, cost of living and international unrest on the cost of materials and labour.

The director monitors potential threats such a legislative changes and attempts to minimise any negative consequences.

ON BEHALF OF THE BOARD:





J R Saul - Director


25 February 2025

Saul Construction Limited (Registered number: 01106632)

Report of the Director
For The Year Ended 31 March 2024

The director presents his report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of building and civil engineering contractors.

DIVIDENDS
The director does not recommend a dividend.

DIRECTORS
J R Saul has held office during the whole of the period from 1 April 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mrs F Saul - resigned 27 March 2024

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Kingswood Allotts Limited, will be proposed for re-appointment as auditor at the forthcoming Annual General Meeting

ON BEHALF OF THE BOARD:





J R Saul - Director


25 February 2025

Report of the Independent Auditors to the Members of
Saul Construction Limited

Opinion
We have audited the financial statements of Saul Construction Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Saul Construction Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The specific procedures for this engagement and the extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management and those charged with governance around actual and potential litigation and claims;
- Enquiry of entity staff in compliance functions to identify any instances of non-compliance with laws and regulations;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mark Garrison BCom FCA DChA (Senior Statutory Auditor)
for and on behalf of Kingswood Allotts Limited, Statutory Auditor
Chartered Accountants
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

24 March 2025

Saul Construction Limited (Registered number: 01106632)

Statement of Comprehensive
Income
For The Year Ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 3 10,321,880 11,123,992

Cost of sales 8,523,499 9,239,593
GROSS PROFIT 1,798,381 1,884,399

Administrative expenses 917,741 716,667
880,640 1,167,732

Other operating income 30,780 42,678
OPERATING PROFIT 5 911,420 1,210,410

Interest receivable and similar income 215,770 112,269
1,127,190 1,322,679

Interest payable and similar expenses 6 17,393 33,384
PROFIT BEFORE TAXATION 1,109,797 1,289,295

Tax on profit 7 287,023 249,394
PROFIT FOR THE FINANCIAL YEAR 822,774 1,039,901

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 822,774 1,039,901

Saul Construction Limited (Registered number: 01106632)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 1,093,290 1,232,132

CURRENT ASSETS
Stocks 10 9,704,700 8,961,928
Debtors 11 5,122,052 3,391,548
Cash at bank and in hand 3,681,746 5,125,449
18,508,498 17,478,925
CREDITORS
Amounts falling due within one year 12 3,468,961 3,340,990
NET CURRENT ASSETS 15,039,537 14,137,935
TOTAL ASSETS LESS CURRENT LIABILITIES 16,132,827 15,370,067

PROVISIONS FOR LIABILITIES 14 18,552 41,566
NET ASSETS 16,114,275 15,328,501

CAPITAL AND RESERVES
Called up share capital 15 1,750 1,750
Capital redemption reserve 16 500,250 500,250
Retained earnings 16 15,612,275 14,826,501
SHAREHOLDERS' FUNDS 16,114,275 15,328,501

The financial statements were approved by the director and authorised for issue on 25 February 2025 and were signed by:





J R Saul - Director


Saul Construction Limited (Registered number: 01106632)

Statement of Changes in Equity
For The Year Ended 31 March 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2022 1,750 13,823,600 500,250 14,325,600

Changes in equity
Dividends - (37,000 ) - (37,000 )
Total comprehensive income - 1,039,901 - 1,039,901
Balance at 31 March 2023 1,750 14,826,501 500,250 15,328,501

Changes in equity
Dividends - (37,000 ) - (37,000 )
Total comprehensive income - 822,774 - 822,774
Balance at 31 March 2024 1,750 15,612,275 500,250 16,114,275

Saul Construction Limited (Registered number: 01106632)

Cash Flow Statement
For The Year Ended 31 March 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (1,150,320 ) 424,067
Interest paid (393 ) (12,384 )
Tax paid (259,604 ) (200,669 )
Net cash from operating activities (1,410,317 ) 211,014

Cash flows from investing activities
Purchase of tangible fixed assets (23,449 ) (74,676 )
Sale of tangible fixed assets 4,163 1,352
Interest received 215,770 112,269
Net cash from investing activities 196,484 38,945

Cash flows from financing activities
Amount introduced by directors 37,000 -
Amount withdrawn by directors (29,870 ) (46,801 )
Equity dividends paid (37,000 ) -
Preference shares redeemed (200,000 ) -
Net cash from financing activities (229,870 ) (46,801 )

(Decrease)/increase in cash and cash equivalents (1,443,703 ) 203,158
Cash and cash equivalents at beginning of year 2 5,125,449 4,922,291

Cash and cash equivalents at end of year 2 3,681,746 5,125,449

Saul Construction Limited (Registered number: 01106632)

Notes to the Cash Flow Statement
For The Year Ended 31 March 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 1,109,797 1,289,295
Depreciation charges 158,252 165,410
Profit on disposal of fixed assets (124 ) (1,352 )
Finance costs 17,393 33,384
Finance income (215,770 ) (112,269 )
1,069,548 1,374,468
Increase in stocks (742,772 ) (264,193 )
Increase in trade and other debtors (1,730,504 ) (786,099 )
Increase in trade and other creditors 253,408 99,891
Cash generated from operations (1,150,320 ) 424,067

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 3,681,746 5,125,449
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 5,125,449 4,922,291


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 5,125,449 (1,443,703 ) 3,681,746
5,125,449 (1,443,703 ) 3,681,746
Debt
Debts falling due within 1 year (1,050,000 ) 200,000 (850,000 )
(1,050,000 ) 200,000 (850,000 )
Total 4,075,449 (1,243,703 ) 2,831,746

Saul Construction Limited (Registered number: 01106632)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Saul Construction Limited 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 financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

House sales
Turnover on house sales is recognised when a contract for sale is in place and work has been completed. Where the company provides services together with construction materials in order to perform its contractual obligation to deliver real estate to the buyer, revenue is recognised, as sales of goods, on delivery of the completed real estate to the buyer.

Construction contracts
When the outcome of a real estate construction contract can be estimated reliably, the company recognises contract revenue and contract costs associated with the construction contract as revenue and expenses respectively by reference to the stage of completion of the contract activity at the end of the reporting period.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Freehold land and buildings- 2% on cost and not provided
Plant and machinery- 25% on cost
Fixtures and fittings- 25% on cost
Motor vehicles- 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Land and properties held for development are shown at cost including all directly related costs for the site.

Saul Construction Limited (Registered number: 01106632)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified 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.

The company’s policies for its major classes of financial assets and financial liabilities are set out below.

Financial assets:
Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities:
Basic financial liabilities, including trade and other creditors, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Saul Construction Limited (Registered number: 01106632)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Going concern
After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.

Interest income
Interest income is recognised in the statement of comprehensive income using the effective interest method.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Share Capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
House sales 5,852,935 7,644,555
Contract work 4,468,945 3,479,437
10,321,880 11,123,992

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,035,494 2,150,234
Social security costs 203,696 226,801
Other pension costs 45,449 45,528
2,284,639 2,422,563

The average number of employees during the year was as follows:
2024 2023

Directors 1 1
Construction 56 62
57 63

2024 2023
£    £   
Directors' remuneration 9,771 7,961
Directors' pension contributions to money purchase schemes 54 54

Saul Construction Limited (Registered number: 01106632)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 158,252 165,410
Profit on disposal of fixed assets (124 ) (1,352 )
Auditors' remuneration 7,000 6,800

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Interest on corporation tax 393 12,384
A preference share dividend 17,000 21,000
17,393 33,384

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 310,037 259,614

Deferred tax (23,014 ) (10,220 )
Tax on profit 287,023 249,394

UK corporation tax was charged at 19%) in 2023.

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,109,797 1,289,295
Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 19%) 277,449 244,966

Effects of:
Expenses not deductible for tax purposes 4,250 3,990
Depreciation on land and buildings 5,324 3,730
provided
Super deduction adjustment - (841 )
Change in tax rates - (2,451 )
Total tax charge 287,023 249,394

8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 37,000 37,000

Saul Construction Limited (Registered number: 01106632)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

9. TANGIBLE FIXED ASSETS
Freehold Fixtures
land and Plant and and Motor
buildings machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 1,181,780 1,846,193 47,550 693,948 3,769,471
Additions - 7,480 - 15,969 23,449
Disposals - (4,730 ) - - (4,730 )
At 31 March 2024 1,181,780 1,848,943 47,550 709,917 3,788,190
DEPRECIATION
At 1 April 2023 254,410 1,677,827 45,602 559,500 2,537,339
Charge for year 19,633 78,612 915 59,092 158,252
Eliminated on disposal - (691 ) - - (691 )
At 31 March 2024 274,043 1,755,748 46,517 618,592 2,694,900
NET BOOK VALUE
At 31 March 2024 907,737 93,195 1,033 91,325 1,093,290
At 31 March 2023 927,370 168,366 1,948 134,448 1,232,132

Included in the cost of land and buildings is freehold land of £200,153 (2023: £200,153) which is not depreciated.

10. STOCKS
2024 2023
£    £   
Raw materials and consumables 17,426 13,378
Land and property for development and sale 9,687,274 8,948,550
9,704,700 8,961,928

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 153,195 83,045
Other debtors 863,052 1,755,323
Recoverable on contracts 3,950,000 1,450,000
Prepayments and accrued income 155,805 103,180
5,122,052 3,391,548

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Preference shares (see note 13) 850,000 1,050,000
Payments on account 5,500 10,500
Trade creditors 1,088,198 1,039,860
Taxation 310,047 259,614
Other taxes and social security 63,965 273,137
Other creditors 822,504 389,756
Directors' loan accounts 72,184 65,054
Accruals and deferred income 256,563 253,069
3,468,961 3,340,990

Saul Construction Limited (Registered number: 01106632)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

13. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Preference shares 850,000 1,050,000

Details of shares shown as liabilities are as follows:

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
850,000 A Preference £1 850,000 1,050,000

14. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 18,552 41,566

Deferred
tax
£   
Balance at 1 April 2023 41,566
Movement during the year (23,014 )
Balance at 31 March 2024 18,552

Deferred tax has been provided at 25% (2023: 25%).

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,750 Ordinary £1 1,750 1,750

16. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2023 14,826,501 500,250 15,326,751
Profit for the year 822,774 822,774
Dividends (37,000 ) (37,000 )
At 31 March 2024 15,612,275 500,250 16,112,525

Saul Construction Limited (Registered number: 01106632)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

17. RELATED PARTY DISCLOSURES

During the year the following balances were outstanding to or from related parties

2024 2023
£ £
Amount due to other related parties639,007161,339
Amount due from other related parties842,1923,143,403
Amounts due to directors72,18465,054

The amounts due are unsecured, repayable on demand and interest free.

During the year, the company provided services and made recharges to related parties amounting to £1,200,000 and received services from a related party amounting to £60,000.

Key Management Personnel Remuneration

There are no key management personnel except the directors, whose remuneration is disclosed in note 4.