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Registered number: 06278277
Norton Construction Southern Limited
Unaudited Financial Statements
For The Year Ended 30 June 2025
KT Accountants Limited
Chartered Accountants
Castle Farm Barn North
Denmead Road
Southwick
Hampshire
PO17 6EX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06278277
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 75,014 67,808
75,014 67,808
CURRENT ASSETS
Stocks 6 61,003 58,423
Debtors 7 66,229 79,021
Cash at bank and in hand 65,003 21,106
192,235 158,550
Creditors: Amounts Falling Due Within One Year 8 (242,263 ) (178,031 )
NET CURRENT ASSETS (LIABILITIES) (50,028 ) (19,481 )
TOTAL ASSETS LESS CURRENT LIABILITIES 24,986 48,327
Creditors: Amounts Falling Due After More Than One Year 9 (23,472 ) (29,067 )
NET ASSETS 1,514 19,260
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 1,512 19,258
SHAREHOLDERS' FUNDS 1,514 19,260
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For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ian White
Director
20 May 2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Norton Construction Southern Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06278277 . The registered office is 72 Aberdare Avenue, Drayton, Portsmouth, Hampshire, PO6 2AU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% Reducing balance
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2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2024 30,000
As at 30 June 2025 30,000
Amortisation
As at 1 July 2024 30,000
As at 30 June 2025 30,000
...CONTINUED
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Net Book Value
As at 30 June 2025 -
As at 1 July 2024 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 July 2024 29,999 82,311 3,291 115,601
Additions 5,000 30,166 - 35,166
Disposals - (14,400 ) - (14,400 )
As at 30 June 2025 34,999 98,077 3,291 136,367
Depreciation
As at 1 July 2024 11,600 32,902 3,291 47,793
Provided during the period 2,760 18,127 - 20,887
Disposals - (7,327 ) - (7,327 )
As at 30 June 2025 14,360 43,702 3,291 61,353
Net Book Value
As at 30 June 2025 20,639 54,375 - 75,014
As at 1 July 2024 18,399 49,409 - 67,808
6. Stocks
2025 2024
£ £
Work in progress 61,003 58,423
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 49,081 79,021
Other debtors 16,606 -
65,687 79,021
Due after more than one year
Other debtors 542 -
66,229 79,021
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8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 12,619 10,191
Bank loans and overdrafts 5,686 5,548
Other creditors 7,873 26,517
Taxation and social security 216,085 135,775
242,263 178,031
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 23,472 29,067
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2 2
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2024 Amounts advanced Amounts repaid Amounts written off As at 30 June 2025
£ £ £ £ £
Mr Ian White 24,217 (40,823 ) - - (16,606 )
The above loan is unsecured, interest free and repayable on demand.
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