Houseman Construction Limited - Filleted accounts


HOUSEMAN CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025



































Company Registration Number: 03847902

HOUSEMAN CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


CONTENTS									PAGES



Company information									1

Balance sheet									2 to 3

Notes to the financial statements									4 to 9

HOUSEMAN CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025


DIRECTOR

R P Houseman


SECRETARY

The MGroup Secretarial Services Ltd


REGISTERED OFFICE

C9 Glyme Court
Oxford Office Village
Langford Lane
Kidlington
Oxford
OX5 1LQ


COMPANY REGISTRATION NUMBER

03847902 England and Wales

HOUSEMAN CONSTRUCTION LIMITED

BALANCE SHEET
AS AT 31 MARCH 2025


	Notes	2025		2024
		£		£

FIXED ASSETS
Tangible assets	5		191,792		186,331
Investments	6		750,000		750,000


			941,792		936,331

CURRENT ASSETS
Stock		820,551		709,342
Debtors	7	182,798		423,638
Cash at bank and in hand		1,518,059		798,165


		2,521,408		1,931,145

CREDITORS: Amounts falling due within one year	8	319,659		380,204
CREDITORS: Amounts falling due within one year


NET CURRENT ASSETS			2,201,749		1,550,941


TOTAL ASSETS LESS CURRENT LIABILITIES			3,143,541		2,487,272

Provisions for liabilities and charges			140,057		138,855


NET ASSETS			3,003,484		2,348,417


CAPITAL AND RESERVES
Called up share capital			2		2
Distributable profit and loss account			2,608,045		1,952,978
Non distributable profit and loss account			395,437		395,437


SHAREHOLDER'S FUNDS			3,003,484		2,348,417

HOUSEMAN CONSTRUCTION LIMITED

BALANCE SHEET
AS AT 31 MARCH 2025


These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.


Signed on behalf of the board




R P Houseman
Director

Date approved by the board: 6 November 2025

HOUSEMAN CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1	GENERAL INFORMATION

	Houseman Construction Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:

	C9 Glyme Court
	Oxford Office Village
	Langford Lane
	Kidlington
	Oxford
	OX5 1LQ

	The financial statements are presented in Sterling, which is the functional currency of the company.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Basis of preparation of financial statements

	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

	Revenue recognition

	Turnover represents the value of general construction work carried out, stated net of trade discounts and value added tax. Revenue is recognised as contract activity progresses, in accordance with the terms of the contractual agreement and the stage of completion of the work. Revenue is reported in the period in which the services were rendered and reflects the partial performance of the company's contractual obligations where this can be measured reliably. Where recorded revenue exceeds amounts invoiced to clients, the excess is classified as income.

	The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.


	Tangible fixed assets

	Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

	Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.

	Motor and race vehicles					Reducing balance basis at 25% per annum
	Plant and machinery					Reducing balance basis at 25% per annum
	Computer equipment					Reducing balance basis at 25% per annum

	On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.

HOUSEMAN CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Investment properties

	Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.

	Subsequently, investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss account in the period in which they arise.

	Financial Instruments

	A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

	Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss account.

	Basic financial assets and financial liabilities are initially recognised at transaction price and measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. They are subsequently carried at their amortised cost using the effective interest rate method, less any provision for impairment. If the effect of the time value of money is immaterial, they are measured at cost less impairment.

	Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account immediately.

Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.


	Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised costs using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

HOUSEMAN CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Impairment of non-financial assets

	At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.

	Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.

	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.


	Stock

	Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a standard cost basis.

	The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.


	Work in progress

	Work in progress has been valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises the cost of materials and direct labour relevant to the stage of construction.

	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors

	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.

HOUSEMAN CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Taxation

	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.

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

	Deferred tax relating to land and investment properties that is measured at fair value is measured using the tax rates and allowances that apply to the sale of the asset.


	Current and deferred tax assets and liabilities are not discounted.

3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	The director has made key assumptions in determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

4	EMPLOYEES

	The average number of persons employed by the company (including the director) during the year was:

		2025	2024
	Average number of employees	1	1

HOUSEMAN CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


5	TANGIBLE ASSETS
		Motor and race vehicles		Plant and machinery	Computer equipment		Total
			£	£	£		£
	Cost
	At 1 April 2024		243,812	11,171	5,503		260,486

	Additions		52,486	-	-		52,486


	At 31 March 2025		296,298	11,171	5,503		312,972


	Accumulated depreciation and impairments
	At 1 April 2024		59,297	10,578	4,280		74,155

	Charge for year		46,571	148	306		47,025


	At 31 March 2025		105,868	10,726	4,586		121,180


	Net book value
	At 1 April 2024		184,515	593	1,223		186,331


	At 31 March 2025		190,430	445	917		191,792


6	FIXED ASSET INVESTMENTS
						Investment property
							£
	Cost
	At 1 April 2024						750,000


	At 31 March 2025						750,000


	Net book value
	At 1 April 2024						750,000


	At 31 March 2025						750,000


	In the opinion of the director, all investment property has been stated at fair value.

HOUSEMAN CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


7	DEBTORS
					2025	2024
					£	£
	Trade debtors				36,070	335,640
	Prepayments and accrued income				2,010	1,441
	Other debtors				144,718	86,557


					182,798	423,638


8	CREDITORS: Amounts falling due within one year
					2025	2024
					£	£
	Trade creditors				8,180	104,903
	Taxation and social security				302,201	265,142
	Accruals and deferred income				1,470	1,471
	Other creditors				7,808	8,688


					319,659	380,204


9	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

	The following director's advances, credits and guarantees took place during the year:

		Balance at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off or waived	Balance at 31 March 2025
		£	£	£	£	£
	R P Houseman	50,510	1,963,041	1,904,880	-	108,671

Interest has been charged on this advance at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. The advance is repayable on demand.