Ind.Com Construction Limited
Company Registration No. 04089914 (England And Wales)
Unaudited Financial Statements
Year Ended 31 October 2024
IND.COM CONSTRUCTION LIMITED
Ind.Com Construction Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
IND.COM CONSTRUCTION LIMITED
Ind.Com Construction Limited
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
45,440
25,731
Current assets
Stocks
21,892
39,131
Debtors
5
281,991
211,919
Cash at bank and in hand
134,688
188,035
438,571
439,085
Creditors: amounts falling due within one year
6
(290,100)
(309,972)
Net current assets
148,471
129,113
Total assets less current liabilities
193,911
154,844
Creditors: amounts falling due after more than one year
7
(29,083)
(20,578)
Provisions for liabilities
(11,361)
(6,433)
Net assets
153,467
127,833
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
153,367
127,733
Total equity
153,467
127,833
IND.COM CONSTRUCTION LIMITED
Ind.Com Construction Limited
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 17 June 2025
Mr P Patten
Director
Company registration number 04089914 (England and Wales)
IND.COM CONSTRUCTION LIMITED
Ind.Com Construction Limited
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024
31 October 2024
- 3 -
1
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2
Accounting policies
Company information
Ind.com Construction Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6 George House, Beam Heath Way, Nantwich, Cheshire, United Kingdom, CW5 6GD.
2.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
2.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Motor vehicles
25% on reducing balance
IND.COM CONSTRUCTION LIMITED
Ind.Com Construction Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
2
Accounting policies
(Continued)
- 4 -
2.4
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
2.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
IND.COM CONSTRUCTION LIMITED
Ind.Com Construction Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
2
Accounting policies
(Continued)
- 5 -
2.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2.10
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
8
IND.COM CONSTRUCTION LIMITED
Ind.Com Construction Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2023
26,122
7,548
66,593
100,263
Additions
1,751
208
33,760
35,719
Disposals
(9,961)
(9,961)
At 31 October 2024
27,873
7,756
90,392
126,021
Depreciation and impairment
At 1 November 2023
22,866
5,888
45,778
74,532
Depreciation charged in the year
751
285
13,201
14,237
Eliminated in respect of disposals
(8,188)
(8,188)
At 31 October 2024
23,617
6,173
50,791
80,581
Carrying amount
At 31 October 2024
4,256
1,583
39,601
45,440
At 31 October 2023
3,256
1,660
20,815
25,731
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
277,757
206,574
Other debtors
4,234
5,345
281,991
211,919
IND.COM CONSTRUCTION LIMITED
Ind.Com Construction Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,145
9,725
Trade creditors
101,058
145,698
Corporation tax
2,680
7,626
Other taxation and social security
91,576
107,039
Other creditors
84,641
39,884
290,100
309,972
Of the creditors due within one year and due after one year, there is an amount totaling £20,158(2023: £30,303) which is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,013
20,578
Other creditors
19,070
29,083
20,578