REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
SINGH CONCRETE LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
SINGH CONCRETE LTD |
SINGH CONCRETE LTD (REGISTERED NUMBER: 09118784) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SINGH CONCRETE LTD |
COMPANY INFORMATION |
For The Year Ended 31 July 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SINGH CONCRETE LTD (REGISTERED NUMBER: 09118784) |
ABRIDGED BALANCE SHEET |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps 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 Sections 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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SINGH CONCRETE LTD (REGISTERED NUMBER: 09118784) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Singh Concrete Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' 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 cost convention. |
Turnover |
Turnover represents sales of concrete, excluding value added tax, sold during the year. |
Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income. |
Tangible fixed assets |
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Land | - | Not depreciated |
Buildings | - | 2% on cost |
Plant and machinery | - | 10% reducing balance |
Office equipment | - | 20% on cost |
Motor vehicles | - | 10% reducing balance |
Stocks |
Stocks are stated at the lower of cost and estimated selling price, less costs to complete and sell. Cost includes all costs of purchase, including costs to bring stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
Financial instruments |
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. |
Deferred tax represents the future tax consequences of material transactions and events recognised in the financial statements of current and previous periods. |
Current and deferred tax assets and liabilities are not discounted and are recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Hire purchase and leasing commitments |
Assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. Payments are apportioned between the finance charge and the capital amount and the related obligations, net of future finance charges, are included in creditors. |
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
SINGH CONCRETE LTD (REGISTERED NUMBER: 09118784) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 July 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 August 2023 |
Additions |
Disposals | ( |
) |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Included in cost of land and buildings is freehold land of £ 625,000 (2023 - £ 625,000 ) which is not depreciated. |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Totals |
£ |
COST |
At 1 August 2023 | 748,070 |
Additions | 122,600 |
Disposals | (80,000 | ) |
At 31 July 2024 | 790,670 |
DEPRECIATION |
At 1 August 2023 | 233,367 |
Charge for year | 81,860 |
Eliminated on disposal | (68,244 | ) |
At 31 July 2024 | 246,983 |
NET BOOK VALUE |
At 31 July 2024 | 543,687 |
At 31 July 2023 | 514,703 |
SINGH CONCRETE LTD (REGISTERED NUMBER: 09118784) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 July 2024 |
5. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Mortgage | 526,689 | 547,290 |
A fixed charge containing a negative pledge was created over the freehold known as 84 Beaver Depot, Birtley Road, Bramley, Guildford on 25 January 2018 by HSBC Bank PLC to secure all monies due or becoming due. |
A fixed and floating charge containing a negative pledge was created over the debenture by HSBC Bank PLC on 8 January 2018 to secure all monies due or becoming due. |
A fixed and floating charge containing a negative pledge was created over the debenture by Gc Factoring LTD on 26 March 2021 to secure all monies due or becoming due. |