Fast Track Civil Engineering Ltd 09109544 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is construction of domestic buildings Digita Accounts Production Advanced 6.30.9574.0 true 09109544 2023-08-01 2024-07-31 09109544 2024-07-31 09109544 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-07-31 09109544 core:CurrentFinancialInstruments 2024-07-31 09109544 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 09109544 core:Non-currentFinancialInstruments 2024-07-31 09109544 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 09109544 core:FurnitureFittingsToolsEquipment 2024-07-31 09109544 core:MotorVehicles 2024-07-31 09109544 bus:SmallEntities 2023-08-01 2024-07-31 09109544 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 09109544 bus:FilletedAccounts 2023-08-01 2024-07-31 09109544 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 09109544 bus:RegisteredOffice 2023-08-01 2024-07-31 09109544 bus:Director1 2023-08-01 2024-07-31 09109544 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-08-01 2024-07-31 09109544 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09109544 bus:Agent1 2023-08-01 2024-07-31 09109544 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 09109544 core:MotorVehicles 2023-08-01 2024-07-31 09109544 countries:EnglandWales 2023-08-01 2024-07-31 09109544 2023-07-31 09109544 core:FurnitureFittingsToolsEquipment 2023-07-31 09109544 core:MotorVehicles 2023-07-31 09109544 2022-08-01 2023-07-31 09109544 2023-07-31 09109544 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-07-31 09109544 core:CurrentFinancialInstruments 2023-07-31 09109544 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 09109544 core:Non-currentFinancialInstruments 2023-07-31 09109544 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 09109544 core:FurnitureFittingsToolsEquipment 2023-07-31 09109544 core:MotorVehicles 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09109544

Fast Track Civil Engineering Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Fast Track Civil Engineering Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Fast Track Civil Engineering Ltd

Company Information

Director

Mr C C Colocioiu

Registered office

82 Balmoral Drive
Borehamwood
WD6 2RB

Accountants

Richlands Business Advisers Limited
Chartered Accountants42-46 Station Road
Edgware
Middlesex
HA8 7AB

 

Fast Track Civil Engineering Ltd

(Registration number: 09109544)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

20,091

26,787

Current assets

 

Debtors

5

260,924

134,929

Cash at bank and in hand

 

193,029

254,032

 

453,953

388,961

Creditors: Amounts falling due within one year

6

(268,993)

(232,900)

Net current assets

 

184,960

156,061

Total assets less current liabilities

 

205,051

182,848

Creditors: Amounts falling due after more than one year

6

(24,947)

(34,835)

Net assets

 

180,104

148,013

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

180,103

148,012

Shareholders' funds

 

180,104

148,013

For the financial year ending 31 July 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 25 July 2025
 

.........................................
Mr C C Colocioiu
Director

 

Fast Track Civil Engineering Ltd

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

1

General information

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

The address of its registered office is:
82 Balmoral Drive
Borehamwood
WD6 2RB
England

These financial statements were authorised for issue by the director on 25 July 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.

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.

 

Fast Track Civil Engineering Ltd

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

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

Furniture, fittings and equipment

25% reducing balances

Motor vehicles

25% reducing balances

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.

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.

 

Fast Track Civil Engineering Ltd

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

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 3).

 

Fast Track Civil Engineering Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

82,147

8,640

90,787

At 31 July 2024

82,147

8,640

90,787

Depreciation

At 1 August 2023

56,321

7,679

64,000

Charge for the year

6,456

240

6,696

At 31 July 2024

62,777

7,919

70,696

Carrying amount

At 31 July 2024

19,370

721

20,091

At 31 July 2023

25,826

961

26,787

5

Debtors

2024
£

2023
£

Other debtors

260,924

134,929

Total current trade and other debtors

260,924

134,929

 

Fast Track Civil Engineering Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

17,130

-

Other creditors

 

212,362

212,333

Accrued expenses

 

27,761

1,750

Corporation tax payable

 

10,685

13,702

Directors current account

 

1,055

5,115

 

268,993

232,900

Due after one year

 

Loans and borrowings

8

24,947

34,835

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

24,947

34,835

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Share capital of £1 each

1

1

1

1

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

24,947

34,835

 

Fast Track Civil Engineering Ltd

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

9

Dividends

2024

2023

£

£

Interim dividend of £5,000.00 (2023 - £4,000.00) per ordinary share

5,000

4,000