Registered number
06840850
Bell & Sons Construction Limited
Unaudited Filleted Accounts
31 July 2024
Bell & Sons Construction Limited
Registered number: 06840850
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,439,319 1,498,566
Current assets
Debtors 4 514,878 414,777
Cash at bank and in hand 2,916,588 3,141,968
3,431,466 3,556,745
Creditors: amounts falling due within one year 5 (322,686) (394,758)
Net current assets 3,108,780 3,161,987
Total assets less current liabilities 4,548,099 4,660,553
Provisions for liabilities (74,000) (86,000)
Net assets 4,474,099 4,574,553
Capital and reserves
Called up share capital 99 99
Profit and loss account 4,474,000 4,574,454
Shareholders' funds 4,474,099 4,574,553
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
D J Bell
Director
Approved by the board on 2 April 2025
Bell & Sons Construction Limited
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 and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land and buildings, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% reducing balance basis
Plant and machinery 25% reducing balance basis
Fixtures, fittings, and equipment 25% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in "other operating income" within profit and loss in the same period as the related expenditure. The company has not benefited from any other forms of government assistance.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 12
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 800,000 2,427,158 752,547 3,979,705
Additions - 134,715 36,500 171,215
Disposals - (84,967) (8,000) (92,967)
At 31 July 2024 800,000 2,476,906 781,047 4,057,953
Depreciation
At 1 August 2023 - 1,952,501 528,638 2,481,139
Charge for the year - 148,638 64,469 213,107
On disposals - (70,143) (5,469) (75,612)
At 31 July 2024 - 2,030,996 587,638 2,618,634
Net book value
At 31 July 2024 800,000 445,910 193,409 1,439,319
At 31 July 2023 800,000 474,657 223,909 1,498,566
4 Debtors 2024 2023
£ £
Trade debtors 475,372 358,667
Value Added Tax 39,506 56,110
514,878 414,777
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 217,088 204,004
Accruals and deferred Income 30,562 98,982
Corporation tax 60,899 78,071
Other taxes and social security costs 12,365 13,159
Loan from directors 1,772 542
322,686 394,758
6 Related party transactions
Dividends Paid to Directors
Dividends paid to directors in their capacity as shareholders during the year amounted to £165,000.
7 Controlling party
The directors I Bell, D I Bell and D J Bell are the ultimate controlling parties by virtue of their combined shareholdings.
8 Other information
Bell & Sons Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
North Grange Farm House
Wimlands Lane
Faygate
West Sussex
RH12 4SP
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