REGISTERED NUMBER: |
E Batty (Contractors) Limited |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 30th September 2024 |
REGISTERED NUMBER: |
E Batty (Contractors) Limited |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 30th September 2024 |
E Batty (Contractors) Limited (Registered number: 00563995) |
Contents of the Financial Statements |
for the year ended 30th September 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
E Batty (Contractors) Limited |
Company Information |
for the year ended 30th September 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Regent's Court |
Princess Street |
Hull |
East Yorkshire HU2 8BA |
E Batty (Contractors) Limited (Registered number: 00563995) |
Report of the Directors |
for the year ended 30th September 2024 |
The directors present their report with the financial statements of the company for the year ended 30th September 2024. |
REVIEW OF BUSINESS |
The business continued to recover during 23/24 with key focus on increasing gross margins and cost control. The outlook for the future is positive with a full order book and improving margins heading into 24/25. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1st October 2023 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
E Batty (Contractors) Limited (Registered number: 00563995) |
Balance Sheet |
30th September 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
E Batty (Contractors) Limited (Registered number: 00563995) |
Balance Sheet - continued |
30th September 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
E Batty (Contractors) Limited (Registered number: 00563995) |
Notes to the Financial Statements |
for the year ended 30th September 2024 |
1. | STATUTORY INFORMATION |
E Batty (Contractors) Limited is a private company, limited by shares, registered in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is the amount receivable, excluding value added tax, in the ordinary course of business for goods supplied as a principal and works provided. In the case of the contract work, turnover is calculated on the basis of the value of work executed during the year. |
Tangible fixed assets |
Depreciation is calculated to write down the cost of fixed assets by annual instalments over their expected useful lives. |
The rates generally applicable are: |
Improvements to leasehold property | Over the period of the lease |
Motor vehicles | 20% on cost |
Plant and equipment | 10% to 20% on cost |
Stocks |
Stock is stated at lower of cost and net realisable value. |
Contract work in progress included in debtors is stated at net realisable value. Cumulative turnover (i.e the total turnover recorded in respect of the contract and profit and loss accounts of all the periods since inception of the contract) is compared with total payments on account. If turnover exceeds payments on account an "amount recoverable on contracts" is established and separately disclosed within debtors. If payments on account are greater than turnover to date, the excess is classified within creditors. |
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 or deferred taxation assets and liabilities are not discounted. |
Current tax is 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
E Batty (Contractors) Limited (Registered number: 00563995) |
Notes to the Financial Statements - continued |
for the year ended 30th September 2024 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets acquired under finance leases and hire purchase contracts are treated as fixed assets. The amount capitalised is the present value of the minimum lease payments payable during the lease term. Depreciation is charged to the profit and loss account in accordance with the normal depreciation policy over the shorter of the lease term and the useful life of the assets. |
The corresponding lease commitments are shown as liabilities. The interest element of rental obligations is charged to the profit and loss account over the period of the lease on a straight line basis. |
Rentals payable under operating leases are charged to the profit and loss account over the period of the lease on a straight line basis. |
Pension funding |
The company is a member of a group of companies which operates a pension scheme for the benefit of the employees. The benefits under this scheme are secured under individual policies with an insurance company at a fixed rate for the life of the relevant policy. Contributions are charged to the profit and loss account as they fall due. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Improvements |
to |
leasehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1st October 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30th September 2024 |
DEPRECIATION |
At 1st October 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30th September 2024 |
NET BOOK VALUE |
At 30th September 2024 |
At 30th September 2023 |
E Batty (Contractors) Limited (Registered number: 00563995) |
Notes to the Financial Statements - continued |
for the year ended 30th September 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
COST |
At 1st October 2023 |
and 30th September 2024 |
DEPRECIATION |
At 1st October 2023 |
and 30th September 2024 |
NET BOOK VALUE |
At 30th September 2024 |
At 30th September 2023 |
5. | STOCKS |
2024 | 2023 |
£ | £ |
Raw materials |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
Deferred tax asset |
Tax losses carried forward |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Invoice discounting |
Hire purchase contracts (see note 9) |
Trade creditors |
Social security and other taxes |
Other creditors |
E Batty (Contractors) Limited (Registered number: 00563995) |
Notes to the Financial Statements - continued |
for the year ended 30th September 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 2-5 years |
Amounts owed to group undertakings |
9. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase | contracts |
2024 | 2023 |
£ | £ |
Gross obligations repayable: |
Within one year |
Finance charges repayable: |
Within one year |
Net obligations repayable: |
Within one year |
Non-cancellable | operating leases |
2024 | 2023 |
£ | £ |
Between one and five years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Invoice Discounting | 467,005 | 532,818 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 477,600 | 477,600 |
Preferred ordinary shares | £1 | 2,400 | 2,400 |
480,000 | 480,000 |
E Batty (Contractors) Limited (Registered number: 00563995) |
Notes to the Financial Statements - continued |
for the year ended 30th September 2024 |
11. | CALLED UP SHARE CAPITAL - continued |
The ordinary shares and the preferred ordinary shares rank pari passu in respect of voting rights and rights on winding up of the company. Profit which the company may distribute shall be applied as follows:- |
i) | In paying a fixed dividend of 8% p.a. in respect of the preferred ordinary shares. |
ii) | In paying to the holders of the preferred ordinary shares, in addition to i) above, an additional dividend of 1% p.a. paid as a dividend on the ordinary shares over and above 15%. |
iii) | In paying to ordinary shareholders a non-cumulative dividend of 15% or such higher or lower percentage as the company may determine. |
The right to receive the fixed dividend has been waived for periods up to 30th September 2023 by the holders of the preferred ordinary shares. |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is E Batty (Holdings) limited. |
The ultimate controlling party is |