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Sam Construction Limited
Registered Number:04488671
For the year ended 31 July 2024
England and Wales
Unaudited Financial Statements
2
Registered Number :
04488671
As at 31 July 2024
Sam Construction Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
165,297
183,685
2
165,297
183,685
Current assets
Trade and other receivables
17,058
12,000
3
7,683
Cash and cash equivalents
32,831
44,831
24,741
Trade and other payables: amounts falling due within one
year
(54,181)
(62,301)
4
(29,440)
(17,470)
Net current liabilities
Total assets less current liabilities
147,827
154,245
Trade and other payables: amounts falling due after more
than one year
(51,013)
(37,105)
5
(30,341)
(27,068)
Provisions for liabilities
80,381
Net assets
76,164
Capital and reserves
Called up share capital
1
1
Retained earnings
80,380
76,163
80,381
76,164
Shareholders' funds
For the year ended 31 July 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 of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
SA Martin Director
These financial statements were approved and authorised for issue by the Board on 13 January 2025 and were signed by:
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3
Registered Number :
04488671
For the year ended 31 July 2024
Sam Construction Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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4
For the year ended 31 July 2024
Sam Construction Limited
Notes to the Financial Statements
Statutory Information
Sam Construction Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 04488671.
Registered address:
Hop Cottage
Hailsham Road
Heathfield
East Sussex
TN21 8ET
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of 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 costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
10% Reducing balance
25% Reducing balance
Computer equipment
25% Reducing balance
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
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5
For the year ended 31 July 2024
Sam Construction Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Motor vehicles
Plant and
machinery
£
£
£
Cost or
valuation
At 01 August 2023
341,275
29,987
311,288
31,400
-
31,400
Additions
-
(34,000)
Disposals
(34,000)
At 31 July 2024
308,688
29,987
338,675
Provision for depreciation and impairment
At 01 August 2023
157,590
18,482
139,108
Charge for year
23,828
2,876
20,952
(8,040)
-
(8,040)
On disposal
At 31 July 2024
173,378
21,358
152,020
At 31 July 2024
Net book value
156,668
8,629
165,297
At 31 July 2023
172,180
11,505
183,685
3. Trade and other receivables
2023
2024
£
£
Trade debtors
12,000
14,400
Other debtors
-
2,658
17,058
12,000
4. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
3,146
408
Taxation and social security
3,991
2,122
Other creditors
55,164
51,651
62,301
54,181
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For the year ended 31 July 2024
Sam Construction Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
11,441
17,461
Other creditors
25,664
33,552
37,105
51,013
6. Related party transactions
The company is controlled by the directors who own 100% of the called up share capital.
7. Average number of persons employed
During the year the average number of employees was 1 (2023 : 1)
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