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Registration number: 04852465

K J & S J Pike Contractors Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

K J & S J Pike Contractors Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

K J & S J Pike Contractors Ltd

(Registration number: 04852465)
Statement of Financial Position as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,096,308

1,092,601

Current assets

 

Debtors

5

10,420

6,625

Cash at bank and in hand

 

982,902

746,501

 

993,322

753,126

Creditors: Amounts falling due within one year

6

(282,348)

(187,578)

Net current assets

 

710,974

565,548

Total assets less current liabilities

 

1,807,282

1,658,149

Provisions for liabilities

(99,769)

(100,524)

Net assets

 

1,707,513

1,557,625

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

1,707,511

1,557,623

Shareholders' funds

 

1,707,513

1,557,625

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 28 April 2025 and signed on its behalf by:
 


K J Pike
Director

 

K J & S J Pike Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
64 High Street
Bideford
Devon
EX39 2AR

Principal activity

The principal activity of the company is building construction and repair.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

 

K J & S J Pike Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Fixtures, fitting and equipment

25% reducing balance

Motor vehicles

25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

 

K J & S J Pike Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

K J & S J Pike Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

1,082,528

1,980

40,008

48,952

1,173,468

Additions

-

999

7,306

-

8,305

At 31 July 2024

1,082,528

2,979

47,314

48,952

1,181,773

Depreciation

At 1 August 2023

-

1,929

34,653

44,285

80,867

Charge for the year

-

263

3,167

1,168

4,598

At 31 July 2024

-

2,192

37,820

45,453

85,465

Carrying amount

At 31 July 2024

1,082,528

787

9,494

3,499

1,096,308

At 31 July 2023

1,082,528

51

5,355

4,667

1,092,601

Included within the net book value of land and buildings above is £1,082,528 (2023 - £1,082,528) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's Investment Properties was revalued on 31 July 2024. An independent valuer was not involved.
The valuation of the properties was reviewed by the directors at the year end.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £627,742 (2023 - £627,742).

 

K J & S J Pike Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

5

Debtors

2024
£

2023
£

Trade debtors

9,201

6,001

Prepayments

1,219

624

10,420

6,625

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

19,017

27,172

Taxation and social security

91,299

66,526

Accruals and deferred income

4,389

5,465

Other creditors

167,643

88,415

282,348

187,578

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Related party transactions

Transactions with directors

2024

At 1 August 2023
£

Advances/(credits) to the directors
£

At 31 July 2024
£

The Directors

(88,415)

(79,228)

(167,643)

       
     

 

2023

At 1 August 2022
£

Advances/(credits) to the directors
£

At 31 July 2023
£

The Directors

(16,874)

(71,541)

(88,415)

 

The loan is interest free and repayable on demand.