REGISTERED NUMBER: 04711555 (England and Wales)

Unaudited Financial Statements

for the Period

1 February 2024 to 6 April 2025

for

Nu Construction Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

215,129

297,717

CURRENT ASSETS

Stocks

986

1,500

Debtors

5

6,106,582

3,358,128

Cash at bank and in hand

1,709,885

1,431,012

7,817,453

4,790,640

CREDITORS

Amounts falling due within one year

6

7,027,024

3,671,036

NET CURRENT ASSETS

790,429

1,119,604

TOTAL ASSETS LESS CURRENT LIABILITIES

1,005,558

1,417,321

PROVISIONS FOR LIABILITIES

15,208

35,998

NET ASSETS

990,350

1,381,323

CAPITAL AND RESERVES

Called up share capital

8

4,000

4,000

Share premium

65,000

-

Capital redemption reserve

250,000

250,000

Retained earnings

671,350

1,127,323

SHAREHOLDERS' FUNDS

990,350

1,381,323

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 6 April 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 6 April 2025 in accordance with Section 476 of the Companies Act 2006.

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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2025 and were signed on its behalf by:

S L Smith - Director

1.	STATUTORY INFORMATION

Nu Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04711555

Registered office:

Unit A5

Old Power Way

Lowfields Business Park

Elland

West Yorkshire

HX5 9DE

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to give a true and fair view.

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

Critical accounting judgements and sources of estimation uncertainty

In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The critical judgements that the directors have made in applying the company's accounting policies and the key sources of estimation uncertainty that have had the most significant effect on the amounts recognised in the financial statements are described below:

Construction contracts

Construction contracts are assessed on a contract by contract basis and reflected in the profit and loss account by recognising turnover and related costs as the contract activity progresses. Where contract activity can be reasonably assessed during the contract term an apportionment of the contract profit is also recognised.

The directors make an assessment at the period end as to the stage of completion of each contract and recognise the appropriate level of turnover and costs in the profit and loss account based on contract forecasts and by reference to valuations.

Amounts recoverable on contracts are recognised in debtors, as the amount recognised in turnover but not yet invoiced, to the extent that these amounts are considered recoverable. Any forecast contract losses are recognised in full in the profit and loss account at the point the directors consider this outcome to be likely.

Recoverability of trade debtors

Outstanding trade debtor balances, which include retentions, are reviewed on a line by line basis by management to identify possible amounts where an impairment provision is required. When assessing recoverability the directors have considered factors such as the aging of the debts, past experience of recoverability, and the credit profile of individual customers.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding and value added tax.

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. This is normally measured by reference to third party or internally generated contract valuations, except in rare instances where this would not be representative of the stage of completion. Variations in contract work are included to the extent that the amount can be measured reliably and its receipt considered probable.

Profits are recognised on contracts when the outcome can be assessed with reasonable certainty and based upon expected costs to completion after assessing the stage of the contract.

Where the outcome of a contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Rental income

Turnover from rents receivable from tenants is credited to the profit and loss account on a straight-line basis over the term of the lease.

Tangible fixed assets

Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets at rates calculated to write off the cost less estimated residual value of each asset on a straight line basis over its expected useful life.

Plant and machinery etc.

- 7 to 33% on cost and 25% on reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The need for any fixed asset impairment write down is assessed by comparison of the carrying value of the assets against the higher of realisable value and value in use.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

Taxation

Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the reversal of the underlying timing differences can be deducted.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

Leasing commitments

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities 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 company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs) unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, other debtors, cash and bank balances, trade creditors and other creditors.

Trade debtors, other debtors, cash and bank balances, trade creditors and other creditors are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Impairment of assets

Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets

An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had impairment not been recognised.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 33 (2024 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2024

456,505

Additions

4,365

At 6 April 2025

460,870

DEPRECIATION

At 1 February 2024

158,788

Charge for period

86,953

At 6 April 2025

245,741

NET BOOK VALUE

At 6 April 2025

215,129

At 31 January 2024

297,717

5.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

2,922,088

543,042

Amounts recoverable on contracts

991,111

1,369,341

Other debtors

1,609,370

950,321

5,522,569

2,862,704

Amounts falling due after more than one year:

Trade debtors

584,013

495,424

Aggregate amounts

6,106,582

3,358,128

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

4,558,703

2,614,213

Taxation and social security

1,189,006

276,978

Other creditors

1,279,315

779,845

7,027,024

3,671,036

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

174,030

167,327

Between one and five years

220,715

292,588

394,745

459,915

8.	CALLED UP SHARE CAPITAL

Alloted, issued and fully paid

Nominal

2025

2024

Number:

Class:

value:

£

£

1,350

A1 Ordinary

£1

1,350

1,350

1,350

A2 Ordinary

£1

1,350

1,350

800

A3 Ordinary

£1

800

800

500

B Ordinary

£1

500

500

4,000

4,000

All shares rank pari passu in respect of voting rights and entitlement on winding up.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 6 April 2025 an amount of £372,528 was outstanding from directors of the company. Interest has been charged on the outstanding capital at a rate of 2.25%.

10.

DIVIDENDS

Dividends totalling £1,090,160 were voted during the year (2024: £200,000). £505,080 of the dividends voted were in relation to the equalisation of profits across shareholders that were made in previous periods but agreed to be distributed in the current year.