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Company Registration No. 7402361 (England and Wales)
Steve Downey Building Services Ltd Unaudited accounts for the year ended 31 October 2024
Steve Downey Building Services Ltd Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
69,761 
93,015 
Current assets
Debtors
67,912 
84,606 
Cash at bank and in hand
9,727 
219 
77,639 
84,825 
Creditors: amounts falling due within one year
(87,102)
(118,787)
Net current liabilities
(9,463)
(33,962)
Total assets less current liabilities
60,298 
59,053 
Provisions for liabilities
Deferred tax
(13,254)
(17,672)
Net assets
47,044 
41,381 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
46,944 
41,281 
Shareholders' funds
47,044 
41,381 
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 June 2025 and were signed on its behalf by
S Downey Director Company Registration No. 7402361
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Steve Downey Building Services Ltd Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
Steve Downey Building Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 7402361. The registered office is 35 Cross O'Cliff Hill, Lincoln, LN5 8PR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 October 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 November 2022. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 November 2023
115,000 
At 31 October 2024
115,000 
Amortisation
At 1 November 2023
115,000 
At 31 October 2024
115,000 
Net book value
At 31 October 2024
- 
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Steve Downey Building Services Ltd Notes to the Accounts for the year ended 31 October 2024
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2023
284,879 
129,852 
414,731 
At 31 October 2024
284,879 
129,852 
414,731 
Depreciation
At 1 November 2023
238,031 
83,685 
321,716 
Charge for the year
11,712 
11,542 
23,254 
At 31 October 2024
249,743 
95,227 
344,970 
Net book value
At 31 October 2024
35,136 
34,625 
69,761 
At 31 October 2023
46,848 
46,167 
93,015 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
2,971 
Trade debtors
67,912 
81,635 
67,912 
84,606 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
8,480 
30,424 
VAT
4,595 
- 
Obligations under finance leases and hire purchase contracts
10,995 
25,654 
Trade creditors
5,046 
3,596 
Taxes and social security
40,724 
44,494 
Loans from directors
8,587 
5,944 
Accruals
8,675 
8,675 
87,102 
118,787 
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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