East Midlands Surfacing Limited Filleted Accounts Cover
East Midlands Surfacing Limited
Company No. 14035173
Information for Filing with The Registrar
30 April 2024
East Midlands Surfacing Limited Directors Report Registrar
The Director presents his report and the accounts for the year ended 30 April 2024.
Principal activities
The principal activity of the company during the year under review was construction of roads.
Director
The Director who served at any time during the year was as follows:
Francis Flannigan
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
Francis Flannigan
Director
28 February 2025
East Midlands Surfacing Limited Balance Sheet Registrar
at
30 April 2024
Restated
Company No.
14035173
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
36,24746,029
36,24746,029
Current assets
Debtors
5
17,66513,962
Cash at bank and in hand
60745,718
18,27259,680
Creditors: Amount falling due within one year
6
(37,802)
(46,766)
Net current (liabilities)/assets
(19,530)
12,914
Total assets less current liabilities
16,71758,943
Creditors: Amounts falling due after more than one year
7
(3,544)
(6,757)
Provisions for liabilities
Deferred taxation
(4,400)
(9,000)
Net assets
8,77343,186
Capital and reserves
Called up share capital
100100
Profit and loss account
9
8,67343,086
Total equity
8,77343,186
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 28 February 2025 and signed on its behalf by:
Francis Flannigan
Director
28 February 2025
East Midlands Surfacing Limited Notes to the Accounts Registrar
for the year ended 30 April 2024
1
General information
East Midlands Surfacing Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 14035173
Its registered office is:
Rockley Stables
Mill Lane
Rockley
Retford
DN22 0QP
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Going concern
The financial statements have been prepared on the going concern basis. The director is not aware of any material threats to the ability of the company to continue as a going concern for the foreseeable future.
2
Accounting policies
Turnover
Turnover represents the fair value of the consideration receivable in respect of services provided during the year. Where the outcome of a transaction can be estimated reliably, revenue associated with the transaction is recognised in the income statement by reference to the stage of completion at the year end.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Financial instruments
Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances, are recognised and carried forward at transaction price. Financial assets are derecognised when:
(a) The contractual rights to the cash flows from the asset expire or are settled;
(b) Substantially all the risks and rewards of the ownership of the asset are transferred to another party; or
(c) Control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, and loans from third parties are initially recognised and carried forward at transaction price.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
The company has only financial assets and financial liabilities of a kind that qualify as a basic financial instruments. Basic financial instruments are recognised initially at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
Restated
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
22
4
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost or revaluation
At 1 May 2023
34,70526,66761,372
Additions
2,300-2,300
At 30 April 2024
37,00526,66763,672
Depreciation
At 1 May 2023
8,6766,66715,343
Charge for the year
7,0825,00012,082
At 30 April 2024
15,75811,66727,425
Net book values
At 30 April 2024
21,24715,00036,247
At 30 April 2023
26,029
20,000
46,029
5
Debtors
Restated
2024
2023
£
£
Loans to directors
17,39513,692
Other debtors
270270
17,66513,962
6
Creditors:
amounts falling due within one year
Restated
2024
2023
£
£
Obligations under finance lease and hire purchase contracts
3,2133,213
Trade creditors
3,13123,415
Taxes and social security
4,055
5,475
Accruals and deferred income
27,40314,663
37,80246,766
7
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Obligations under finance lease and hire purchase contracts
3,5446,757
3,5446,757
8
Share Capital
Share capital consists of 100 ordinary shares of £1 each, which are all fully paid.
9
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
10
Prior Year Adjustment
Share Capital
Retained Earnings
Total Equity
Shares issued during the period
100
-
100
Profit for the period
36,563
36,563
Dividends
(2,000)
(2,000)
At 30 April 2023 and 1 May 2023 as previously stated
100
34,563
34,663
Prior year adjustment
8,523
8,523
At 30 April 2023 and 1 May 2023 as restated
100
43,086
43,186
Loss for the period
(19,413)
(19,413)
Dividends
(15,000)
(15,000)
At 30 April 2024
100
8,673
8,773
The prior year adjustments relate to the correction of errors in the financial statements for the year ended 30 April 2023. A number of transactions were accounted for as costs when they should have been allocated to the director's loan account as drawings. There were also some wages that were omitted from the accounts. In total the errors resulted in an understatement of the company's profits.
11
Related party transactions
During the year, the following loan to the director subsisted
The details are as follows:
Restated
2024
2023
F Flannigan
Balance at 1 May 2023
13,692
-
Amounts advances
36,089
49,804
Amounts repaid
(32,386)
(36,112)
Balance at 30 April 2024
17,395
13,692
12
Dividends
2024
2023
£
£
Dividends for the period:
Dividends paid in the period
15,000
2,000
15,000
2,000
Dividends by type:
Equity dividends
15,0002,000
15,000
2,000
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