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COMPANY REGISTRATION NUMBER: 10216904
INFRASTRUCTURE SITE SERVICES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2024
INFRASTRUCTURE SITE SERVICES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30th JUNE 2024
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 8
INFRASTRUCTURE SITE SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
57,758
88,924
CURRENT ASSETS
Debtors
6
952,001
413,569
Cash at bank and in hand
444,009
691,519
-------------
-------------
1,396,010
1,105,088
CREDITORS: amounts falling due within one year
7
938,706
613,317
-------------
-------------
NET CURRENT ASSETS
457,304
491,771
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
515,062
580,695
CREDITORS: amounts falling due after more than one year
8
10,000
20,000
PROVISIONS
Taxation including deferred tax
7,203
14,533
----------
----------
NET ASSETS
497,859
546,162
----------
----------
CAPITAL AND RESERVES
Called up share capital
10
500
500
Profit and loss account
497,359
545,662
----------
----------
SHAREHOLDERS FUNDS
497,859
546,162
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30th June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
INFRASTRUCTURE SITE SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 25 June 2025 , and are signed on behalf of the board by:
M. R. Buglass
Director
Company registration number: 10216904
INFRASTRUCTURE SITE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30th JUNE 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cowley Road, Blyth Riverside Business Park, Blyth, NE24 5TF.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The financial statements have been prepared on the going concern basis. The director considers that this basis is appropriate following due consideration of the present financial position, the expected prospects of the company during the twelve months from the date of approval of these financial statements and the continued support of the company's director, bankers and other lending agents during this time.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current period. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% straight line
Computer equipment
-
25% straight line
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 32 (2023: 22 ).
5. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
£
Cost
At 1st July 2023
245,611
17,572
5,998
15,402
284,583
Disposals
( 42,950)
( 5,998)
( 48,948)
----------
---------
-------
---------
----------
At 30th June 2024
202,661
17,572
15,402
235,635
----------
---------
-------
---------
----------
Depreciation
At 1st July 2023
167,814
13,936
3,732
10,177
195,659
Charge for the year
26,543
909
330
1,448
29,230
Disposals
( 42,950)
( 4,062)
( 47,012)
----------
---------
-------
---------
----------
At 30th June 2024
151,407
14,845
11,625
177,877
----------
---------
-------
---------
----------
Carrying amount
At 30th June 2024
51,254
2,727
3,777
57,758
----------
---------
-------
---------
----------
At 30th June 2023
77,797
3,636
2,266
5,225
88,924
----------
---------
-------
---------
----------
6. DEBTORS
2024
2023
£
£
Trade debtors
782,456
373,904
Prepayments and accrued income
8,378
2,085
Buglass Holdings Limited
7
5
Retentions
802
Other debtors
161,160
36,773
----------
----------
952,001
413,569
----------
----------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loan
10,000
10,000
Trade creditors
362,758
41,993
Accruals and deferred income
13,584
8,622
Corporation tax
247,006
347,043
Social security and other taxes
55,358
18,143
Director loan accounts
16
Other creditors
250,000
187,500
----------
----------
938,706
613,317
----------
----------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loan
10,000
20,000
---------
---------
9. DEFERRED TAX
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions
7,203
14,533
-------
---------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
7,203
14,533
-------
---------
10. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
500
500
500
500
----
----
----
----
11. RELATED PARTY TRANSACTIONS
The director of the company is also a director of its holding company, Buglass Holdings Limited. During the year, the company paid rent of £80,000 (2023: £65,000) and paid for the hire of equipment and vehicles of £212,083 (2023: £132,500) to Buglass Holdings Limited. No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A small entities.
12. PARENT COMPANY
Buglass Holdings Limited , a company registered in England, owns 100% of the ordinary shares of the company. During the year dividends of £852,930 (2023: £1,506,250) were paid to Buglass Holdings Limited by the company. During the year, the company paid rent of £80,000 (2023: £65,000) and paid for the hire of equipment and vehicles of £212,083 (2023: £132,500) to Buglass Holdings Limited. An intercompany loan account processes the transactions between Infrastructure Site Services Limited and Buglass Holdings Limited. At 30th June 2024, Infrastructure Site Services Limited was owed £7 (2023: £5) from Buglass Holdings Limited and this is shown in year end debtors.