REGISTERED NUMBER: 06464073 (England and Wales)

VERE BROS (CONTRACTORS) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A R Dixon

C Tetther

D M Tetther

REGISTERED OFFICE:

Plover Close

Bittern Way

Marsh Lane Industrial Estate

Boston

Lincolnshire

PE21 7RQ

REGISTERED NUMBER:

06464073 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe (Boston)

The Old Vicarage

Church Close

Boston

Lincolnshire

PE21 6NA

FIXED ASSETS

Intangible assets

3

-

-

Tangible assets

4

381,745

400,150

381,745

400,150

CURRENT ASSETS

Stocks

4,550

9,550

Debtors

325,647

597,540

Cash at bank and in hand

300,991

136,907

631,188

743,997

CREDITORS

Amounts falling due within one year

613,100

630,675

NET CURRENT ASSETS

18,088

113,322

TOTAL ASSETS LESS CURRENT LIABILITIES

399,833

513,472

CREDITORS

Amounts falling due after more than one year

(40,441

)

(129,221

)

PROVISIONS FOR LIABILITIES

(95,436

)

(100,038

)

NET ASSETS

263,956

284,213

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

263,856

284,113

263,956

284,213

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by:

C Tetther - Director

D M Tetther - Director

1.	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 the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of seven years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

Straight line over 10 years

Plant and machinery

-

Straight line over 10 years

Motor vehicles

-

Straight line over 6 years

Computer equipment

-

Straight line over 4 years

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2024 - 27 ) .

3.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

308,000

AMORTISATION

At 1 April 2024

and 31 March 2025

308,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

1,057,439

Additions

89,807

Disposals

(22,482

)

At 31 March 2025

1,124,764

DEPRECIATION

At 1 April 2024

657,289

Charge for year

96,971

Eliminated on disposal

(11,241

)

At 31 March 2025

743,019

NET BOOK VALUE

At 31 March 2025

381,745

At 31 March 2024

400,150

Assets were held under hire purchase contracts with a net book value of £230,514 (2024 £291,725)

5.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

112,235

140,242

The hire purchase contracts are secured on the assets to which they relate.