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REGISTERED NUMBER: 08373875 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 June 2024

for

ALTUS CONSTRUCTION LTD

ALTUS CONSTRUCTION LTD (REGISTERED NUMBER: 08373875)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ALTUS CONSTRUCTION LTD

Company Information
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: S Widdowfield





REGISTERED OFFICE: Unit 3 Talina Centre (Explora House)
Bagleys Lane
London
London
SW6 2BW





REGISTERED NUMBER: 08373875 (England and Wales)





ACCOUNTANTS: Friend & Grant Ltd
Bryant House
Bryant Road
Strood
Rochester
Kent
ME2 3EW

ALTUS CONSTRUCTION LTD (REGISTERED NUMBER: 08373875)

Balance Sheet
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 96,514 128,470

CURRENT ASSETS
Stocks 199,159 128,994
Debtors 6 325,229 324,005
Cash at bank - 74,627
524,388 527,626
CREDITORS
Amounts falling due within one year 7 459,908 437,122
NET CURRENT ASSETS 64,480 90,504
TOTAL ASSETS LESS CURRENT
LIABILITIES

160,994

218,974

CREDITORS
Amounts falling due after more than one
year

8

(24,550

)

(50,000

)

PROVISIONS FOR LIABILITIES (20,980 ) (29,167 )
NET ASSETS 115,464 139,807

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 115,463 139,806
115,464 139,807

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ALTUS CONSTRUCTION LTD (REGISTERED NUMBER: 08373875)

Balance Sheet - continued
30 JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 December 2024 and were signed by:





S Widdowfield - Director


ALTUS CONSTRUCTION LTD (REGISTERED NUMBER: 08373875)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Altus Construction Ltd 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 presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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, including the presentation and disclosure requirements of Section 1A applicable to small companies, and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured as the fair value of the consideration received or receivable from the sale of goods or exchange of services, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

The percentage of completion method is used to calculate the turnover recognised at the period end.

Turnover from the rendering of services is recognised when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity;
- the stage of completion of the transaction at the end of the reporting period can be measured reliably; and
- the costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


ALTUS CONSTRUCTION LTD (REGISTERED NUMBER: 08373875)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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..

Hire purchase and leasing commitments
Assets held under finance lease and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives. The interest element of the leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease.

All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The company recognises a provision for annual leave accrued by employees as a result of services rendered in current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

ALTUS CONSTRUCTION LTD (REGISTERED NUMBER: 08373875)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 July 2023 218,410 9,346 227,756
Additions 2,310 - 2,310
At 30 June 2024 220,720 9,346 230,066
DEPRECIATION
At 1 July 2023 95,636 3,650 99,286
Charge for year 31,271 2,995 34,266
At 30 June 2024 126,907 6,645 133,552
NET BOOK VALUE
At 30 June 2024 93,813 2,701 96,514
At 30 June 2023 122,774 5,696 128,470

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 99,911 135,014
Other debtors 225,318 188,991
325,229 324,005

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 124,190 33,333
Trade creditors 174,539 180,906
Amounts owed to group undertakings 30,721 -
Taxation and social security 59,435 157,747
Other creditors 71,023 65,136
459,908 437,122

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 24,550 50,000

9. SECURED DEBTS

Clydesdale Bank PLC (Trading as Both Clydesdale and Yorkshire Bank) has a fixed and floating charge over all undertakings of the company.

ALTUS CONSTRUCTION LTD (REGISTERED NUMBER: 08373875)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024


10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £5,400 (2023 - £NIL).

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
S Widdowfield
Balance outstanding at start of year - (38,533 )
Amounts advanced - 1,175,115
Amounts repaid - (1,136,582 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party at the balance sheet date is Widdow Group Limited.