| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 |
| FOR |
| SUSSEX CONSTRUCTION LTD |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 |
| FOR |
| SUSSEX CONSTRUCTION LTD |
| SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 May 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 10 |
| SUSSEX CONSTRUCTION LTD |
| COMPANY INFORMATION |
| for the year ended 31 May 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Linden House |
| Linden Close |
| Tunbridge Wells |
| Kent |
| TN4 8HH |
| SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978) |
| BALANCE SHEET |
| 31 May 2025 |
| 31.5.25 | 31.5.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| 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 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Revaluation reserve |
| Capital redemption reserve |
| 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. |
| SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978) |
| BALANCE SHEET - continued |
| 31 May 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 May 2025 |
| 1. | STATUTORY INFORMATION |
| Sussex Construction Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue is recognised when it is probable that future economic benefits will flow to the company from the provision of construction contracts and is measured as the fair value of consideration which the company expects to receive from those transactions. Revenue is recognised as control of the goods is passed over to the customer. Where the normal criteria for the recognition of revenue are not met or are varied, then revenue is recognised at the point when control has passed to the customer which could be when legal title has passed to the customer or when the business has a right to payment such as on completion of work or when cash payment has been made to the company. |
| When the outcome of a construction contract can be estimated reliably, contract revenue and associated expenditure are recognised by reference to the stage of completion of the contract at the reporting date. |
| When the outcome of a construction contract cannot be estimated reliably, contract revenue shall only be recognised to the extent of the amount of associated expenditure incurred and it is probable that the contract revenue will be recoverable. |
| Provision will be made for all losses arising from a construction contract where it is probable that current and future contract expenditure exceeds contract revenue. |
| Revenue is recognised net of returns and of trade discounts and is shown exclusive of value added tax. |
| Tangible fixed assets |
| Long leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| The company does not provide depreciation on leasehold properties on the basis that they are revalued to their fair value at the balance sheet date. |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 May 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company enters into basic financial instruments that give rise to financial assets and financial liabilities including trade and other debtors, trade and other creditors, bank account balances, bank loans and other loans and borrowings and investments in certain non puttable and non convertible equity instruments. |
| Debt instruments which are not payable or receivable within one year are initially accounted for at the transaction price and are subsequently accounted for at amortised cost using the effective interest method. Debt instruments payable and receivable within one year are measured at their undiscounted cash amounts. Where the debt instruments are treated as a financing transaction, then the financial asset or liability is measured at the present value of future cash flows based on a market rate of interest. Debt instruments which are treated as financial assets and accounted for at amortised cost are also assessed for impairment. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 May 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and |
| leasehold | machinery | fittings |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 June 2024 |
| Additions |
| Disposals |
| At 31 May 2025 |
| DEPRECIATION |
| At 1 June 2024 |
| Charge for year |
| Eliminated on disposal |
| At 31 May 2025 |
| NET BOOK VALUE |
| At 31 May 2025 |
| At 31 May 2024 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 June 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 May 2025 |
| DEPRECIATION |
| At 1 June 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 May 2025 |
| NET BOOK VALUE |
| At 31 May 2025 |
| At 31 May 2024 |
| SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 May 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 31 May 2025 is represented by: |
| Fixtures |
| Long | Plant and | and |
| leasehold | machinery | fittings |
| £ | £ | £ |
| Valuation in 2014 | 98,889 | - | - |
| Valuation in 2015 | (25,000 | ) | - | - |
| Valuation in 2019 | 50,000 | - | - |
| Cost | 151,111 | 263,604 | 43,574 |
| 275,000 | 263,604 | 43,574 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| Valuation in 2014 | - | - | 98,889 |
| Valuation in 2015 | - | - | (25,000 | ) |
| Valuation in 2019 | - | - | 50,000 |
| Cost | 211,179 | 16,566 | 686,034 |
| 211,179 | 16,566 | 809,923 |
| If the leasehold property had not been revalued it would have been included at the following historical cost: |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Cost | 151,111 | 151,111 |
| Aggregate depreciation | 42,311 | 39,289 |
| Long leasehold buildings were valued on an open market basis on 31 May 2025 by the directors . |
| SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 May 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 June 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 May 2025 |
| DEPRECIATION |
| At 1 June 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 May 2025 |
| NET BOOK VALUE |
| At 31 May 2025 |
| At 31 May 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' loan accounts | 17,069 | - |
| Accrued income |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| VAT | 87,988 | 40,473 |
| Other creditors |
| Directors' loan accounts | - | 1 |
| Accrued expenses |
| SUSSEX CONSTRUCTION LTD (REGISTERED NUMBER: 03062978) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 May 2025 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Bank loans - 1-2 years |
| Hire purchase contracts |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 121,517 | 115,243 |
| Amounts included within bank loans relate to a government supported bounce back loan which is unsecured and carries interest at 2.5% per annum. The loan is repayable by installments by May 2026. |
| Amounts owed under hire purchase agreements are secured over the assets to which they relate. |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 May 2025 and 31 May 2024: |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest is charged by the company at the statutory rate on overdrawn accounts in excess of £10,000. |
| 2.25% on borrowings that exceeded £10,000 at any point during the tax year ended 05 April 2025. |
| 3.75% on borrowings that exceeded £10,000 at any point during the tax year ended 5 April 2026. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| SUSSEX CONSTRUCTION LTD |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sussex Construction Ltd for the year ended 31 May 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Sussex Construction Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sussex Construction Ltd and state those matters that we have agreed to state to the Board of Directors of Sussex Construction Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sussex Construction Ltd and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Sussex Construction Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sussex Construction Ltd. You consider that Sussex Construction Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Sussex Construction Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Linden House |
| Linden Close |
| Tunbridge Wells |
| Kent |
| TN4 8HH |