Construction Services (Mansfield) Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03937733 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

CONSTRUCTION SERVICES (MANSFIELD) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Hunt

M K Kenzie

L A Blower

J R Crutchley

C Jeffery

SECRETARY:

S Hunt

REGISTERED OFFICE:

Construction House

Hermitage Way

Mansfield

Nottinghamshire

NG18 5ES

REGISTERED NUMBER:

03937733 (England and Wales)

ACCOUNTANTS:

Beeley Hawley & Co Ltd

Chartered Accountants & Business Advisers

52A Westgate

Southwell

Nottinghamshire

NG25 0JX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

293,180

297,940

293,180

297,940

CURRENT ASSETS

Stocks

1,095,224

1,207,000

Debtors

6

1,356,426

963,538

Cash at bank

120,775

117,298

2,572,425

2,287,836

CREDITORS

Amounts falling due within one year

7

1,084,059

736,618

NET CURRENT ASSETS

1,488,366

1,551,218

TOTAL ASSETS LESS CURRENT LIABILITIES

1,781,546

1,849,158

CREDITORS

Amounts falling due after more than one year

8

(19,904

)

(28,814

)

PROVISIONS FOR LIABILITIES

(17,704

)

(18,609

)

NET ASSETS

1,743,938

1,801,735

CAPITAL AND RESERVES

Called up share capital

3

3

Revaluation reserve

10

138,671

138,671

Retained earnings

10

1,605,264

1,663,061

SHAREHOLDERS' FUNDS

1,743,938

1,801,735

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 February 2024 and were signed on its behalf by:

S Hunt - Director

M K Kenzie - Director

L A Blower - Director

1.	STATUTORY INFORMATION

Construction Services (Mansfield) Ltd 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

5% on cost

Plant and machinery etc

-

25% 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 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 33 (2022 - 39 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2022

and 31 May 2023

90,000

AMORTISATION

At 1 June 2022

and 31 May 2023

90,000

NET BOOK VALUE

At 31 May 2023

-

At 31 May 2022

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 June 2022

200,000

474,879

674,879

Additions

-

26,299

26,299

At 31 May 2023

200,000

501,178

701,178

DEPRECIATION

At 1 June 2022

-

376,939

376,939

Charge for year

-

31,059

31,059

At 31 May 2023

-

407,998

407,998

NET BOOK VALUE

At 31 May 2023

200,000

93,180

293,180

At 31 May 2022

200,000

97,940

297,940

Cost or valuation at 31 May 2023 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2022

138,671

-

138,671

Cost

61,329

501,178

562,507

200,000

501,178

701,178

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023

2022

£

£

Cost

176,850

176,850

Aggregate depreciation

115,521

115,521

Value of land in freehold land and buildings

61,329

61,329

Freehold land and buildings were valued on an open market basis on 17 November 2022 by Mussonliggins .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST OR VALUATION

At 1 June 2022

and 31 May 2023

289,069

DEPRECIATION

At 1 June 2022

199,183

Charge for year

29,046

At 31 May 2023

228,229

NET BOOK VALUE

At 31 May 2023

60,840

At 31 May 2022

89,886

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

846,253

470,775

Retentions

382,899

406,038

Tax

-

34,357

VAT

125,414

51,220

Prepayments and accrued income

1,860

1,148

1,356,426

963,538

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Hire purchase contracts

34,119

27,547

Trade creditors

965,566

597,558

Social security and other taxes

41,804

54,713

Other creditors

24,380

26,749

Directors' current accounts

8,190

20,051

Accrued expenses

10,000

10,000

1,084,059

736,618

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Hire purchase contracts

19,904

28,814

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Hire purchase contracts

54,023

56,361

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 June 2022

1,663,061

138,671

1,801,732

Profit for the year

77,203

77,203

Dividends

(135,000

)

(135,000

)

At 31 May 2023

1,605,264

138,671

1,743,935