Adsborough Builders (Taunton) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09033711 (England and Wales)

Adsborough Builders (Taunton) Limited

Abridged Unaudited Financial Statements

for the Year Ended 30 April 2023

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

5

DIRECTORS:

M T Prosser

Miss C Wiggins

REGISTERED OFFICE:

4 King Square

Bridgwater

Somerset

TA6 3YF

REGISTERED NUMBER:

09033711 (England and Wales)

ACCOUNTANTS:

Maxwells

Chartered Accountants

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

Lloyds Bank plc

31 Fore Street

Taunton

Somerset

TA1 1HN

FIXED ASSETS

Tangible assets

5

32,936

35,279

CURRENT ASSETS

Stocks

-

5,679

Debtors

12,504

7,925

Cash at bank

35,794

29,754

48,298

43,358

CREDITORS

Amounts falling due within one year

28,690

39,120

NET CURRENT ASSETS

19,608

4,238

TOTAL ASSETS LESS CURRENT LIABILITIES

52,544

39,517

CREDITORS

Amounts falling due after more than one year

6

(31,265

)

(33,333

)

PROVISIONS FOR LIABILITIES

(2,052

)

(2,408

)

NET ASSETS

19,227

3,776

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

18,227

2,776

SHAREHOLDERS' FUNDS

19,227

3,776

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Statement of Financial Position for the year ended 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2023 and were signed on its behalf by:

M T Prosser - Director

1.	STATUTORY INFORMATION

Adsborough Builders (Taunton) 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

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

-

33% on reducing balance, 25% on reducing balance, 15% on reducing balance and 2% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2022

80,877

Additions

483

At 30 April 2023

81,360

DEPRECIATION

At 1 May 2022

45,598

Charge for year

2,826

At 30 April 2023

48,424

NET BOOK VALUE

At 30 April 2023

32,936

At 30 April 2022

35,279

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30.4.23

30.4.22

£

£

Repayable by instalments

Bank loans

11,201

-

7.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.23

30.4.22

£

£

Bank loans

36,281

43,333

The Bank loan is a government backed bounce back loan.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

30.4.23

30.4.22

£

£

M T Prosser

Balance outstanding at start of year

(1,601

)

(2,442

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,000

(1,601

)