Company registration number 05639166 (England and Wales)
ACT BUILDING CONTROL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 4 JULY 2024
PAGES FOR FILING WITH REGISTRAR
ACT BUILDING CONTROL LIMITED
COMPANY INFORMATION
Directors
Mr M Shah
(Appointed 30 September 2024)
Mr S Clennell-Jones
(Appointed 30 September 2024)
Company number
05639166
Registered office
One St Peter's Square
Manchester
M2 3DE
Accountants
Taylor Viney & Marlow Limited
46-54 High Street
Ingatestone
Essex
CM4 9DW
ACT BUILDING CONTROL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
ACT BUILDING CONTROL LIMITED
BALANCE SHEET
- 1 -
04 July 2024
31 January 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
13,881
14,806
Current assets
Debtors
5
683,649
728,647
Cash at bank and in hand
74,875
40,319
758,524
768,966
Creditors: amounts falling due within one year
6
(468,550)
(379,363)
Net current assets
289,974
389,603
Total assets less current liabilities
303,855
404,409
Creditors: amounts falling due after more than one year
7
(53,333)
(70,000)
Provisions for liabilities
(3,470)
(3,702)
Net assets
247,052
330,707
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
246,052
329,707
Total equity
247,052
330,707
ACT BUILDING CONTROL LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
For the financial period ended 4 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 30 April 2025 and are signed on its behalf by:
Mr M Shah
Director
Company registration number 05639166 (England and Wales)
ACT BUILDING CONTROL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 4 JULY 2024
- 3 -
1
Accounting policies
Company information
Act Building Control Limited is a private company limited by shares incorporated in England and Wales. The registered office is One St Peter's Square, Manchester, M2 3DE.
1.1
Reporting period
This shortened reporting period is due to the sale of the group of companies to a third party. Consequently, as the financial statements cover a period of less than 12 months, they are not wholly comparable to those of a full fiscal year.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
33.3% on cost
Fixtures and fittings
15% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
ACT BUILDING CONTROL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 4 JULY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
ACT BUILDING CONTROL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 4 JULY 2024
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.13
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
ACT BUILDING CONTROL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 4 JULY 2024
- 6 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
04 July 2024
31 January 2024
Number
Number
Total
12
13
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 February 2024 and 4 July 2024
19,613
29,032
48,645
Depreciation and impairment
At 1 February 2024
19,613
14,226
33,839
Depreciation charged in the period
925
925
At 4 July 2024
19,613
15,151
34,764
Carrying amount
At 4 July 2024
13,881
13,881
At 31 January 2024
14,806
14,806
5
Debtors
04 July 2024
31 January 2024
Amounts falling due within one year:
£
£
Trade debtors
131,990
225,853
Gross amounts owed by contract customers
23,605
23,735
Amounts owed by group undertakings
497,024
447,642
Prepayments and accrued income
31,030
31,417
683,649
728,647
ACT BUILDING CONTROL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 4 JULY 2024
- 7 -
6
Creditors: amounts falling due within one year
04 July 2024
31 January 2024
£
£
Bank loans
40,000
40,000
Trade creditors
51,848
71,722
Amounts owed to group undertakings
110,867
102,681
Corporation tax
39,541
49,766
Other taxation and social security
108,247
75,744
Other creditors
2,817
2,417
Accruals and deferred income
115,230
37,033
468,550
379,363
7
Creditors: amounts falling due after more than one year
04 July 2024
31 January 2024
Notes
£
£
Bank loans and overdrafts
53,333
70,000
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
04 July 2024
31 January 2024
£
£
30,054
49,325
9
Related party transactions
04 July 2024
31 January 2024
Amounts due to related parties
£
£
Other related parties
110,867
102,681
04 July 2024
31 January 2024
Amounts due from related parties
£
£
Other related parties
497,024
447,642
ACT BUILDING CONTROL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 4 JULY 2024
- 8 -
10
Parent company
The ultimate parent company is Celnor Group Limited whose registered office and principal place of business is One St Peter's Square, Manchester, United Kingdom, M2 3DE.
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