Aspect Construction Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05751349 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ASPECT CONSTRUCTION LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr V Scannapieco

Mrs M L Scannapieco

SECRETARY:

Mrs M L Scannapieco

REGISTERED OFFICE:

Hartfield Place

40-44 High Street

Northwood

Middlesex

HA6 1BN

REGISTERED NUMBER:

05751349 (England and Wales)

ACCOUNTANTS:

Robert Clow & Co

Chartered Accountants

Hartfield Place

40 - 44 High Street

Northwood

Middlesex

HA6 1BN

FIXED ASSETS

Tangible assets

4

134,457

179,514

CURRENT ASSETS

Debtors

2,144,301

2,338,911

Cash at bank

922,708

667,172

3,067,009

3,006,083

CREDITORS

Amounts falling due within one year

729,548

667,664

NET CURRENT ASSETS

2,337,461

2,338,419

TOTAL ASSETS LESS CURRENT LIABILITIES

2,471,918

2,517,933

PROVISIONS FOR LIABILITIES

25,222

33,762

NET ASSETS

2,446,696

2,484,171

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

5

2,446,694

2,484,169

SHAREHOLDERS' FUNDS

2,446,696

2,484,171

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 2023 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 14 November 2023 and were signed on its behalf by:

Mr V Scannapieco - Director

1.	STATUTORY INFORMATION

Aspect Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 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 represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

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

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 10 (2022 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

463,920

Disposals

(12,685

)

At 31 March 2023

451,235

DEPRECIATION

At 1 April 2022

284,406

Charge for year

44,819

Eliminated on disposal

(12,447

)

At 31 March 2023

316,778

NET BOOK VALUE

At 31 March 2023

134,457

At 31 March 2022

179,514

5.

RESERVES

Retained

earnings

£

At 1 April 2022

2,484,169

Deficit for the year

(7,475

)

Dividends

(30,000

)

At 31 March 2023

2,446,694

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is £197,163(2022:£150,943) owed to the directors.

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £30,000 (2022 - £30,000) were paid to the directors .

Included within other debtors is £150,762 (2022: £150,762) owed by The Straight & Narrow Company Limited, a company in which Mr V Scannapieco is a director and a material shareholder.

Included within other debtors is £285,647 (2022: £135,647) owed by VPSG Ltd, a company in which Mr V Scannapieco is a director and a material shareholder.

Included within other debtors is £558,627 (2022: £559,391) owed by Pavilion London Plc, a company in which Mr V Scannapieco is a director and a material shareholder.

8.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.