| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 November 2024 |
| for |
| Poplars Construction Ltd. |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 November 2024 |
| for |
| Poplars Construction Ltd. |
| Poplars Construction Ltd. (Registered number: 09870871) |
| Contents of the Financial Statements |
| for the Year Ended 30 November 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Poplars Construction Ltd. |
| Company Information |
| for the Year Ended 30 November 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Unit 1 The Cam Centre |
| Wilbury Way |
| Hitchin |
| Hertfordshire |
| SG4 0TW |
| Poplars Construction Ltd. (Registered number: 09870871) |
| Balance Sheet |
| 30 November 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Poplars Construction Ltd. (Registered number: 09870871) |
| Notes to the Financial Statements |
| for the Year Ended 30 November 2024 |
| 1. | STATUTORY INFORMATION |
| Poplars Construction Ltd. is a |
| The trading address of the company is: |
| 78 Water End, |
| Maulden, |
| Bedford, |
| MK45 2BB |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared using the historical cost convention. |
| The financial statements are prepared in sterling, which is the functional currency of the entity. |
| 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. |
| Revenue recognition |
| Turnover comprises the fair value of the consideration receivable for the 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. Contracts often span long periods, as such a quantity surveyor is used to value each project at the year end. This amount is included within the accounts as accrued income. |
| 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. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 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. |
| Cash and cash equivalents |
| Cash and cash equivalents comprises cash on hand and call deposits. |
| 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. |
| Poplars Construction Ltd. (Registered number: 09870871) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| The tax expense for the period comprises current and deferred 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. |
| 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. |
| 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 balance sheet as a finance lease obligation. |
| Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability. |
| 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. |
| Judgements |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| Trade debtors |
| Trade debtors are amounts due from customers for services performed in the ordinary course of business. |
| Trade debtors are recognised at the transaction price, amounts are reviewed for recoverability and written off to the profit and loss account when they are no longer considered recoverable. |
| Included within debtors are customers retentions. These are accounted at the time the full sales invoice is raised. The company accounts for retentions in this way due to historic recoverability on retentions held and the Directors considers this treatment appropriate. |
| 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 lease twelve months after the reporting date, they are presented as non-current liabilities. |
| Trade creditors are recognised at the transaction price. |
| Poplars Construction Ltd. (Registered number: 09870871) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Short | Plant and | and | Motor |
| leasehold | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 December 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 November 2024 |
| DEPRECIATION |
| At 1 December 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| Some assets are held on hire purchase. The borrowings are secured on the assets concerned and detailed within creditors. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts |
| Poplars Construction Ltd. (Registered number: 09870871) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2024 |
| 8. | RELATED PARTY DISCLOSURES |
| During the year the company transacted with other group companies. Amounts arose both through trading balances, which are repayable under normal trading terms, and loan amounts which have interest charged. All balances are disclosed within the creditors and debtors note. |
| At the balance sheet date the company owed T Potter, Director, £109,549 (2023: £112,626). There are no terms for repayment or interest being charged. |
| 9. | CONTROLLING PARTY |
| The ultimate controlling party is T Potter, by virtue of his shareholding in the holding company, Poplars Group (UK) Limited. |
| 10. | LOANS AND BORROWINGS |
| Hire purchase contracts are secured on the assets concerned. The NBV of assets held on hire purchase is £87,204 with depreciation charged in the year totalling £19,130. |