REGISTERED NUMBER: 10562594 (England and Wales)

HERRETT CONSTRUCTION CONTRACTORS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J C Herrett

REGISTERED OFFICE:

Unit 4-6 Phoenix House

Mansfield Road

Sutton-in-Ashfield

Nottinghamshire

NG17 4HR

REGISTERED NUMBER:

10562594 (England and Wales)

ACCOUNTANTS:

ApC

Chartered Accountants

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

161,013

205,685

161,013

205,685

CURRENT ASSETS

Stocks

21,294

26,810

Debtors

7

1,536,521

1,341,039

Cash at bank

309,111

650,180

1,866,926

2,018,029

CREDITORS

Amounts falling due within one year

8

1,362,814

1,403,125

NET CURRENT ASSETS

504,112

614,904

TOTAL ASSETS LESS CURRENT LIABILITIES

665,125

820,589

CREDITORS

Amounts falling due after more than one year

9

(220,994

)

(378,540

)

PROVISIONS FOR LIABILITIES

(40,254

)

(50,172

)

NET ASSETS

403,877

391,877

CAPITAL AND RESERVES

Called up share capital

11

103

103

Retained earnings

403,774

391,774

SHAREHOLDERS' FUNDS

403,877

391,877

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2025 and were signed by:

Mr J C Herrett - Director

1.	STATUTORY INFORMATION

Herrett Construction Contractors Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

Amounts recoverable on contracts are calculated based upon the stage of completion of each individual ongoing construction contract.

The current actual costs and timelines are compared against the overall agreed contract costs and timelines to ascertain the stage of completion.

The stage of completion is then compared to the overall contract price to calculate the current contract sales price, any previous sales price is deducted from the current contract sales price to return the sales contract amount for the period.

Turnover

Turnover represents the value of goods and services, supplied to customers during the year, based upon the stage of completion of the construction contracts net of Value Added Tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 11 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

6,600

Disposals

(6,600

)

At 31 January 2025

-

AMORTISATION

At 1 February 2024

6,600

Eliminated on disposal

(6,600

)

At 31 January 2025

-

NET BOOK VALUE

At 31 January 2025

-

At 31 January 2024

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2024

46,543

49,013

262,186

45,362

403,104

Additions

1,815

4,000

-

7,620

13,435

Disposals

-

-

(33,895

)

-

(33,895

)

At 31 January 2025

48,358

53,013

228,291

52,982

382,644

DEPRECIATION

At 1 February 2024

27,532

16,454

134,667

18,766

197,419

Charge for year

5,003

5,488

31,273

9,704

51,468

Eliminated on disposal

-

-

(27,256

)

-

(27,256

)

At 31 January 2025

32,535

21,942

138,684

28,470

221,631

NET BOOK VALUE

At 31 January 2025

15,823

31,071

89,607

24,512

161,013

At 31 January 2024

19,011

32,559

127,519

26,596

205,685

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

930,472

791,182

Amounts owed by related parties

272,158

53,282

Amounts recoverable on contract

204,409

285,968

Other debtors

105,001

192,392

Prepayments and accrued income

24,481

18,215

1,536,521

1,341,039

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

120,584

119,286

Hire purchase contracts

29,394

23,251

Trade creditors

687,542

728,618

Corporation tax

48,848

28,270

Social security and other taxes

-

1,985

VAT

323,962

364,379

Other creditors

17,914

518

Pension

403

2,314

Directors' current accounts

205

5,790

Accruals and deferred income

133,962

128,714

1,362,814

1,403,125

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 2-5 years

194,760

311,851

Hire purchase contracts

26,234

66,689

220,994

378,540

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

55,628

89,940

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

Value:

£

£

100

Ordinary

£1

100

100

1

Ordinary A

£1

1

1

1

Ordinary B

£1

1

1

1

Ordinary C

£1

1

1

103

103

During the year none (2024: three) additional shares were issued at par for cash consideration.

12.	RELATED PARTY DISCLOSURES

During the year the company traded on normal commercial terms with Herrett Homes Limited and Building Assets Limited companies in which Mr J C Herrett is both a shareholder and director.

At the balance sheet date £66,203 (2024: £2,792 ) was owed by Herrett Homes Limited a company in which Mr J C Herrett is a director and shareholder.

At the balance sheet date £205,955 (2024: £50,490) was owed by Building Assets Limited a company in which Mr J C Herrett is a director and shareholder.