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REGISTERED NUMBER: 05928052 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Honest Construction Limited

Honest Construction Limited (Registered number: 05928052)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Honest Construction Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr M K Basia
Mr D M Basia





SECRETARY: Mrs S Basia





REGISTERED OFFICE: 164 Mollison Way
Edgware
Middlesex
HA8 5QZ





REGISTERED NUMBER: 05928052 (England and Wales)





ACCOUNTANTS: L P Patel & Co Limited
Accountants & Tax Advisers
164 Mollison Way
Edgware
Middlesex
HA8 5QZ

Honest Construction Limited (Registered number: 05928052)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 18,510 23,265

CURRENT ASSETS
Debtors 5 84 18
Cash at bank and in hand 6,750 15,067
6,834 15,085
CREDITORS
Amounts falling due within one year 6 9,666 20,878
NET CURRENT LIABILITIES (2,832 ) (5,793 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,678

17,472

CREDITORS
Amounts falling due after more than one
year

7

10,556

14,075
NET ASSETS 5,122 3,397

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 5,022 3,297
SHAREHOLDERS' FUNDS 5,122 3,397

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Honest Construction Limited (Registered number: 05928052)

Balance Sheet - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 June 2025 and were signed on its behalf by:





Mr M K Basia - Director


Honest Construction Limited (Registered number: 05928052)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

Honest Construction Limited is a private company, limited by shares , registered in England and Wales. 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Tools and equipment - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Honest Construction Limited (Registered number: 05928052)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


4. PROPERTY, PLANT AND EQUIPMENT
Tools and Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 3,462 28,668 814 32,944
Disposals - (5,625 ) - (5,625 )
At 30 September 2024 3,462 23,043 814 27,319
DEPRECIATION
At 1 October 2023 3,384 5,499 796 9,679
Charge for year 16 4,609 4 4,629
Eliminated on disposal - (5,499 ) - (5,499 )
At 30 September 2024 3,400 4,609 800 8,809
NET BOOK VALUE
At 30 September 2024 62 18,434 14 18,510
At 30 September 2023 78 23,169 18 23,265

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023
and 30 September 2024 23,043
DEPRECIATION
Charge for year 4,609
At 30 September 2024 4,609
NET BOOK VALUE
At 30 September 2024 18,434
At 30 September 2023 23,043

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 84 18

Honest Construction Limited (Registered number: 05928052)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts 3,518 3,518
Taxation and social security 3,428 4,275
Other creditors 2,720 13,085
9,666 20,878

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts 10,556 14,075

8. DEFERRED TAX
£   
Balance at 1 October 2023 (18 )
Accelerated capital allowances (66 )
Balance at 30 September 2024 (84 )

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary £ 1 100 100

10. RESERVES
Retained
earnings
£   

At 1 October 2023 3,297
Profit for the year 11,725
Dividends (10,000 )
At 30 September 2024 5,022