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Allsopp (Construction) Limited
Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07834548
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 55,365 36,715
55,365 36,715
CURRENT ASSETS
Stocks 5 265,257 135,676
Debtors 6 607,889 303,393
Cash at bank and in hand 60,930 71,312
934,076 510,381
Creditors: Amounts Falling Due Within One Year 7 (804,433 ) (343,908 )
NET CURRENT ASSETS (LIABILITIES) 129,643 166,473
TOTAL ASSETS LESS CURRENT LIABILITIES 185,008 203,188
Creditors: Amounts Falling Due After More Than One Year 8 (153,793 ) (163,250 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (10,519 ) (8,390 )
NET ASSETS 20,696 31,548
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 20,596 31,448
SHAREHOLDERS' FUNDS 20,696 31,548
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For the year ending 30 November 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Martyn Allsopp
Director
30 May 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Allsopp (Construction) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07834548 . The registered office is Unit 1a The Machine House Newfields, Moira, Swadlincote, Derbyshire, DE12 6EG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight Line
Motor Vehicles 20% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 20% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2023 22,849 43,110 2,239 7,126 75,324
Additions 9,371 19,978 1,060 2,822 33,231
Disposals - - - (2,200 ) (2,200 )
As at 30 November 2024 32,220 63,088 3,299 7,748 106,355
Depreciation
As at 1 December 2023 14,643 17,031 2,213 4,722 38,609
Provided during the period 3,270 10,152 79 1,080 14,581
Disposals - - - (2,200 ) (2,200 )
As at 30 November 2024 17,913 27,183 2,292 3,602 50,990
Net Book Value
As at 30 November 2024 14,307 35,905 1,007 4,146 55,365
As at 1 December 2023 8,206 26,079 26 2,404 36,715
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 17,121 12,647
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5. Stocks
2024 2023
£ £
Stock 54,711 29,036
Work in progress 210,546 106,640
265,257 135,676
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 429,968 203,536
Other debtors 177,921 99,857
607,889 303,393
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 7,047 4,301
Trade creditors 434,842 151,225
Bank loans and overdrafts 276,690 48,572
Other creditors 2,068 2,258
Taxation and social security 83,786 137,552
804,433 343,908
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,377 7,000
Bank loans 148,416 156,250
153,793 163,250
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,751 5,991
Later than one year and not later than five years 6,538 8,160
15,289 14,151
Less: Finance charges allocated to future periods 2,865 2,850
12,424 11,301
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10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 10,519 8,390
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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