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Registration number: 03699083

B & H Construction (Newark) Limited

trading as B & H CONSTRUCTION (Newark) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

B & H Construction (Newark) Limited

trading as B & H CONSTRUCTION (Newark) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

B & H Construction (Newark) Limited

trading as B & H CONSTRUCTION (Newark) Limited

Company Information

Director

Mr Declan J Brett

Company secretary

Mrs Andrea Brett

Registered office

Unit 14, Halifax Court
Fernwood Business Park
Cross Lane
Newark
Notts
NG24 3JP

Accountants

AIMS Accountants Fernwood Business Centre
Newark
Notts
NG24 3JP

 

B & H Construction (Newark) Limited

trading as B & H CONSTRUCTION (Newark) Limited

(Registration number: 03699083)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

309,762

313,016

Current assets

 

Stocks

5

600

600

Debtors

6

6,009

3,282

Cash at bank and in hand

 

1,257

2,078

 

7,866

5,960

Creditors: Amounts falling due within one year

7

(164,314)

(61,005)

Net current liabilities

 

(156,448)

(55,045)

Total assets less current liabilities

 

153,314

257,971

Creditors: Amounts falling due after more than one year

7

(13,333)

(23,199)

Provisions for liabilities

(12,926)

(12,926)

Net assets

 

127,055

221,846

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

127,053

221,844

Shareholders' funds

 

127,055

221,846

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 June 2025
 

.........................................
Mr Declan J Brett
Director

 

B & H Construction (Newark) Limited

trading as B & H CONSTRUCTION (Newark) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 14, Halifax Court
Fernwood Business Park
Cross Lane
Newark
Notts
NG24 3JP

The principal place of business is:
The Brindles
74 Hawton Road
Newark
Notts
NG24 4QB

These financial statements were authorised for issue by the director on 9 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

 

B & H Construction (Newark) Limited

trading as B & H CONSTRUCTION (Newark) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Plant & Machinery

20% Reducing Balance

Fixtures & Fittings

20% Reducing Balance

Motor Vehicles

25% Reducing Balance

Computer Equipment

33% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors 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 trade debtors 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks 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.

 

B & H Construction (Newark) Limited

trading as B & H CONSTRUCTION (Newark) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Trade creditors

Trade creditors 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 creditors 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 profit and loss account 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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

B & H Construction (Newark) Limited

trading as B & H CONSTRUCTION (Newark) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Properties under construction
 £

Cost or valuation

At 1 November 2023

300,000

819

52,222

1,367

At 31 October 2024

300,000

819

52,222

1,367

Depreciation

At 1 November 2023

-

819

39,206

1,367

Charge for the year

-

-

3,254

-

At 31 October 2024

-

819

42,460

1,367

Carrying amount

At 31 October 2024

300,000

-

9,762

-

At 31 October 2023

300,000

-

13,016

-

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

1,810

356,218

At 31 October 2024

1,810

356,218

Depreciation

At 1 November 2023

1,810

43,202

Charge for the year

-

3,254

At 31 October 2024

1,810

46,456

Carrying amount

At 31 October 2024

-

309,762

At 31 October 2023

-

313,016

Included within the net book value of land and buildings above is £300,000 (2023 - £300,000) in respect of freehold land and buildings.
 

 

B & H Construction (Newark) Limited

trading as B & H CONSTRUCTION (Newark) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

5

Stocks

2024
£

2023
£

Other inventories

600

600

6

Debtors

Current

2024
£

2023
£

Trade debtors

6,009

3,282

 

6,009

3,282

 

B & H Construction (Newark) Limited

trading as B & H CONSTRUCTION (Newark) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

27,699

26,608

Trade creditors

 

8,639

5,274

Taxation and social security

 

8,333

11,018

Accruals and deferred income

 

1,749

1,589

Other creditors

 

117,894

16,516

 

164,314

61,005

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

13,333

23,199

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

 

B & H Construction (Newark) Limited

trading as B & H CONSTRUCTION (Newark) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

13,333

23,199

Current loans and borrowings

2024
£

2023
£

Bank borrowings

9,999

8,908

Other borrowings

17,700

17,700

27,699

26,608

11

Dividends

2024

2023

£

£

Final dividend of £Nil (2023 - £1.00) per ordinary share

-

-

Interim dividend of £Nil (2023 - £3.00) per ordinary share

100,000

2,000

100,000

2,000

 

 

12

Related party transactions

 

B & H Construction (Newark) Limited

trading as B & H CONSTRUCTION (Newark) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

8,821

8,655