Registration number:
Building and Handyman Fulham Limited
for the Year Ended 30 September 2024
Building and Handyman Fulham Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Building and Handyman Fulham Limited
Company Information
Directors |
T Job A Job |
Registered office |
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Accountants |
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Building and Handyman Fulham Limited
(Registration number: 07835892)
Statement of Financial Position as at 30 September 2024
Note |
2024 |
2023 |
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Non current assets |
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Property, plant and equipment |
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Current assets |
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Inventories |
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Receivables |
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Cash at bank and in hand |
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Payables: Amounts falling due within one year |
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( |
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Net current liabilities |
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( |
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Total assets less current liabilities |
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Payables: Amounts falling due after more than one year |
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( |
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Provisions for liabilities |
( |
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Net assets |
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Equity |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
Building and Handyman Fulham Limited
(Registration number: 07835892)
Statement of Financial Position as at 30 September 2024 (continued)
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.
The financial statements of Building and Handyman Fulham Limited were approved and authorised for issue by the
.........................................
Director
Building and Handyman Fulham Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024
General information |
Building and Handyman Fulham Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.
Accounting policies |
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of the company is considered to be pounds sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pounds sterling (£).
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in
operational existence for the foreseeable future. Thus they continue to adopt the going concern basis
in preparing the annual financial statements.
Revenue recognition
Revenue comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Revenue is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in the income statement except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Building and Handyman Fulham Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)
2 |
Accounting policies (continued) |
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Property, plant and equipment
Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land and buildings |
straight line over the lease period |
Furniture, fittings and equipment |
25% straight line |
Motor vehicles |
25% straight line |
Motor vehicles (leased) |
straight line over the lease period |
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand and is subject to insignificant risk of change in value.
Receivables
Receivables are amounts due from customers for services performed in the ordinary course of business. Receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of receivables is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.
Inventories
The cost of work in progress comprises direct materials and direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, inventories are assessed for impairment. If inventories are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Building and Handyman Fulham Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)
2 |
Accounting policies (continued) |
Payables
Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation.
Lease payments are apportioned between finance costs in the Income Statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Building and Handyman Fulham Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)
2 |
Accounting policies (continued) |
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Property, plant and equipment |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost |
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At 1 October 2023 |
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Additions |
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- |
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At 30 September 2024 |
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Depreciation |
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At 1 October 2023 |
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Charge for the year |
- |
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At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
- |
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At 30 September 2023 |
- |
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Building and Handyman Fulham Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)
Inventories |
2024 |
2023 |
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Work in progress |
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Receivables |
2024 |
2023 |
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Trade receivables |
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Other receivables |
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Prepayments |
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Payables |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade payables |
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Amounts due to related parties |
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Social security and other taxes |
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Corporation tax |
31,846 |
11,343 |
Outstanding defined contribution pension costs |
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Other payables |
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Accruals |
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Due after one year |
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Loans and borrowings |
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Building and Handyman Fulham Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)
7 |
Payables (continued) |
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Provisions for liabilities |
Deferred tax |
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At 1 October 2023 |
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Increase in existing provisions |
( |
At 30 September 2024 |
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Share capital and reserves |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.
Building and Handyman Fulham Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)
Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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Hire purchase |
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Finance lease liabilities |
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Current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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Hire purchase |
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Finance lease liabilities |
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Dividends |
2024 |
2023 |
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£ |
£ |
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Final dividend of £ |
80,000 |
110,000 |
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Related party transactions |
The company is controlled by Property Building Services Group Ltd (Company incorporated in England & Wales) which owns 100% of voting share capital. Ultimate controlling party is T Job, director.
At 30 September 2024 the company was owed £170,423 (2023: £121,571) by T Job, the company's director.
During the year dividends of £80,000 (2023: £110,000) were paid to Property Building Services Group Ltd.
Building and Handyman Fulham Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)
Events after the financial period |
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