HORAN CONSTRUCTION SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2025
Company Registration Number: 03437163
HORAN CONSTRUCTION SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 8
HORAN CONSTRUCTION SERVICES LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025
DIRECTOR
C A Horan
SECRETARY
T Horan
REGISTERED OFFICE
4 Witan Way
Witney
Oxon
OX28 6FF
COMPANY REGISTRATION NUMBER
03437163 England and Wales
HORAN CONSTRUCTION SERVICES LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2025
Notes 2025 2024
£ £
FIXED ASSETS
Tangible assets 5 41,761 62,772
CURRENT ASSETS
Stock 112,008 161,916
Debtors 6 97,211 20,169
Cash at bank and in hand 478,581 368,656
687,800 550,741
CREDITORS: Amounts falling due within one year 7 139,201 100,037
NET CURRENT ASSETS 548,599 450,704
TOTAL ASSETS LESS CURRENT LIABILITIES 590,360 513,476
Provisions for liabilities and charges 10,440 15,693
NET ASSETS 579,920 497,783
CAPITAL AND RESERVES
Called up share capital 2 2
Distributable profit and loss account 579,918 497,781
SHAREHOLDERS' FUNDS 579,920 497,783
HORAN CONSTRUCTION SERVICES LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2025
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board
C A Horan
Director
Date approved by the board: 6 October 2025
HORAN CONSTRUCTION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
1 GENERAL INFORMATION
Horan Construction Services Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
4 Witan Way
Witney
Oxon
OX28 6FF
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover represents the provision of general construction and civil engineering services, stated net of trade discounts and value added tax. Revenue is recognised as contract activity progresses, in accordance with the terms of the contractual agreement and the stage of completion of the work. Revenue is reported in the period in which the services were rendered and reflects the partial performance of the company's contractual obligations where this can be measured reliably. Where recorded revenue exceeds amounts invoiced to clients, the excess is classified as income.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Plant and machinery Straight line basis at 20% per annum
Motor vehicles Straight line basis at 25% per annum
Office equipment Straight line basis at 33.33% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
HORAN CONSTRUCTION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Work in progress
Work in progress has been valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises the cost of materials and direct labour relevant to the stage of construction.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
HORAN CONSTRUCTION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
Employee benefits
Short term employee benefits are recognised as an expense in the period in which they are incurred.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the director in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including the director) during the year was:
2025 2024
Average number of employees 6 5
HORAN CONSTRUCTION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
5 TANGIBLE ASSETS
Plant and machinery Motor vehicles Office equipment Total
£ £ £ £
Cost
At 1 February 2024 13,369 91,102 9,200 113,671
Additions 547 - 927 1,474
Disposals (2,654) - (713) (3,367)
At 31 January 2025 11,262 91,102 9,414 111,778
Accumulated depreciation and impairments
At 1 February 2024 9,671 35,605 5,623 50,899
Charge for year 1,534 18,592 2,062 22,188
Disposals (2,452) - (618) (3,070)
At 31 January 2025 8,753 54,197 7,067 70,017
Net book value
At 1 February 2024 3,698 55,497 3,577 62,772
At 31 January 2025 2,509 36,905 2,347 41,761
6 DEBTORS
2025 2024
£ £
Trade debtors 89,499 17,112
Prepayments and accrued income 5,025 2,607
Other debtors 2,687 450
97,211 20,169
7 CREDITORS: Amounts falling due within one year
2025 2024
£ £
Trade creditors 47,858 27,759
Taxation and social security 80,883 58,767
Accruals and deferred income 4,380 4,380
Other creditors 6,080 9,131
139,201 100,037
HORAN CONSTRUCTION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
8 RELATED PARTY TRANSACTIONS
During the year, the following transactions with related parties took place:
C A Horan
Director 2025 2024
£ £
Advances from director The director made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount: 1,687 3,427
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