| REGISTERED NUMBER: 00858778 (England and Wales) |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2024 |
| for |
| A.E.HORDER(CONTRACTING)LIMITED |
| REGISTERED NUMBER: 00858778 (England and Wales) |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2024 |
| for |
| A.E.HORDER(CONTRACTING)LIMITED |
| A.E.HORDER(CONTRACTING)LIMITED (REGISTERED NUMBER: 00858778) |
| Contents of the Financial Statements |
| FOR THE YEAR ENDED 31 JULY 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| A.E.HORDER(CONTRACTING)LIMITED |
| Company Information |
| FOR THE YEAR ENDED 31 JULY 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Bath House |
| 6 - 8 Bath Street |
| Bristol |
| BS1 6HL |
| A.E.HORDER(CONTRACTING)LIMITED (REGISTERED NUMBER: 00858778) |
| Balance Sheet |
| 31 JULY 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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. |
| A.E.HORDER(CONTRACTING)LIMITED (REGISTERED NUMBER: 00858778) |
| Balance Sheet - continued |
| 31 JULY 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| A.E.HORDER(CONTRACTING)LIMITED (REGISTERED NUMBER: 00858778) |
| Notes to the Financial Statements |
| FOR THE YEAR ENDED 31 JULY 2024 |
| 1. | COMPANY INFORMATION |
| A.E.Horder(Contracting)Limited is a |
| The company's principal activities and nature of its operations was that of electrical contractors. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006. |
| 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 on the historical cost convention. The principal accounting policies adopted are set out below. |
| Going concern |
| The directors have, at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
| Turnover |
| Turnover represents amounts receivable for goods and services net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
| Sale of goods |
| Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
| Rendering of services |
| When the outcome of a transaction can be estimated reliably, turnover from services is recognised by reference to the stage of completion at the balance sheet date. |
| Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
| A.E.HORDER(CONTRACTING)LIMITED (REGISTERED NUMBER: 00858778) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 JULY 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Construction contracts |
| When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Profit on construction contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs. |
| Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable. |
| When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision. |
| Tangible fixed assets |
| Leasehold | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Cash and cash equivalents |
| Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less. |
| 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 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 trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
| Basic financial liabilities |
| Basic financial liabilities, including trade and other creditors and amounts due to group undertakings 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire. |
| A.E.HORDER(CONTRACTING)LIMITED (REGISTERED NUMBER: 00858778) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 JULY 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period on a straight line basis where this is not materially different to the sum of the digits basis. The capital element of the future payments is treated as a liability. |
| Rentals paid 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| A.E.HORDER(CONTRACTING)LIMITED (REGISTERED NUMBER: 00858778) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 JULY 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor |
| Leasehold | machinery | vehicles | 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 within the net book value of tangible assets is £37,685 (2023 - £16,833) relating to assets held under hire purchase agreements. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contracts |
| Other debtors |
| Retention on contracts | 2,187 | 31,410 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Retentions payable | - | 5,322 |
| Amounts owed to group undertakings |
| Social security and other taxes |
| VAT | 11,152 | 35,522 |
| Other creditors |
| Accruals and deferred income |
| A.E.HORDER(CONTRACTING)LIMITED (REGISTERED NUMBER: 00858778) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 JULY 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2024 | 2023 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable | operating leases |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts | 32,873 | 5,432 |
| The hire purchase agreements are secured against the assets to which they relate. |
| 10. | PENSION COMMITMENTS |
| At the year end, pension contributions totalling £217 (2023 - £572) were outstanding and are included within other creditors. |
| 11. | CONTINGENT LIABILITIES |
| The company is registered with HMRC as a member of a group for VAT purposes and, as a result, is jointly and severally liable on a continuing basis for amounts owing by other members of that group in respect of unpaid VAT. The total value of VAT owed by the group at the period end was £10,368 (2023 - £34,356). |
| A.E.HORDER(CONTRACTING)LIMITED (REGISTERED NUMBER: 00858778) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 JULY 2024 |
| 12. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| 13. | ULTIMATE CONTROLLING PARTY |
| The company's parent company is A.E. Horder (1963) Limited whose registered office is Bath House, 6-8 Bath Street, Bristol, BS1 6HL. The principal place of business is 371 Gloucester Road, Bristol, BS7 8TW. |
| The ultimate controlling party is G P Williams. |