Registered number
01552390
H & S Contractors (Kent) Limited
Accounts for the year ended
31 August 2024
H & S Contractors (Kent) Limited
Registered number: 01552390
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,370,058 4,730,113
Current assets
Stocks 9,990 5,645
Debtors 4 1,280,982 1,208,698
Cash at bank and in hand 1,337,838 1,653,186
2,628,810 2,867,529
Creditors: amounts falling due within one year 5 (1,708,300) (1,810,141)
Net current assets 920,510 1,057,388
Total assets less current liabilities 5,290,568 5,787,501
Creditors: amounts falling due after more than one year 6 (1,634,855) (2,065,463)
Provisions for liabilities (886,380) (831,248)
Net assets 2,769,333 2,890,790
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 2,768,333 2,889,790
Shareholder's funds 2,769,333 2,890,790
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 member has 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.
N Pallet
Director
Approved by the board on 23 April 2025
H & S Contractors (Kent) Limited
Notes to the Accounts
for the year ended 31 August 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, of plant hire, haulage contracts and work carried out in respect of services provided to customers.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 arising from plant hire and haulage contracts is recognised upon invoicing on either a weekly or monthly basis, dependent on the individual contract terms.
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, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 20% reducing balance
Office equipment, fixtures and fittings 15% reducing balance
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.
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.
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 44 45
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 September 2023 7,624,500 1,096,650 8,721,150
Additions 391,250 340,621 731,871
Disposals (457,000) (183,539) (640,539)
At 31 August 2024 7,558,750 1,253,732 8,812,482
Depreciation
At 1 September 2023 3,519,544 471,493 3,991,037
Charge for the year 764,787 130,389 895,176
On disposals (344,207) (99,582) (443,789)
At 31 August 2024 3,940,124 502,300 4,442,424
Net book value
At 31 August 2024 3,618,626 751,432 4,370,058
At 31 August 2023 4,104,956 625,157 4,730,113
4 Debtors 2024 2023
£ £
Trade debtors 1,244,642 1,134,056
Other debtors 36,340 74,642
1,280,982 1,208,698
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 922,377 946,955
Trade creditors 607,913 683,297
Taxation and social security costs 178,010 179,889
1,708,300 1,810,141
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 1,634,855 2,065,463
7 Capital commitments 2024 2023
£ £
Amounts contracted for but not provided in the accounts - 75,946
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 268,532 367,819
9 Related party transactions
2024 2023
£ £
Mrs D Pallet (wife of N Pallet)
Rent payable 70,000 70,000
H & S Contractors Limited (holding company)
Rent payable 100,000 100,000
Dividend paid 314,715 544,652
Amount included in trade creditors 25,000 -
10 Controlling party
The ultimate controlling party of the company is N Pallet.
11 Other information
H & S Contractors (Kent) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Kingsnorth Industrial Estate
Stoke Road
Hoo
Kent
ME3 9ND
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