Construct Enterprises Ltd - Accounts to registrar (filleted) - small 18.2

CONSTRUCT ENTERPRISES LTD

Financial Statements

for the Year Ended 31 March 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

D Newall

M J Cullinane

M O'Connor

Secretary:

D Newall

Registered office:

7-9 Churchfield Road

London

W3 6BH

Registered number:

03934193 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Tangible assets

4

16,076

23,374

Current assets

Debtors

5

1,217,289

999,895

Cash at bank and in hand

264,626

623,219

1,481,915

1,623,114

Creditors

Amounts falling due within one year

6

564,370

892,785

Net current assets

917,545

730,329

Total assets less current liabilities

933,621

753,703

Capital and reserves

Called up share capital

9

8

8

Share premium

10

49,998

49,998

Retained earnings

10

883,615

703,697

Shareholders' funds

933,621

753,703

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 on 19 November 2019 and were signed on its behalf by:

M J Cullinane - Director

1.	Statutory information

Construct Enterprises 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.

Significant judgements and estimates

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well

as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of

revenues and expenses during the reporting period.

There is estimation uncertainty in calculating bad debt provisions and a review of trade debtors is carried

regularly. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible,

there remains a risk that the provision do not match the level of debts which ultimately prove to be

uncollectable.

Turnover

Turnover represents amounts receivable for the provision of temporary staff provided in the year and is stated

net of VAT.

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

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Financial instruments policy

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a

party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial

recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the

effective interest rate method. A provision is established when there is objective evidence that the company will

not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank

and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the

substance of the contractual arrangements entered into and the definitions of a financial liability and an equity

instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of direct issue costs.

3.	Employees and directors

The average number of employees during the year was 10 (2018 - 10 ) .

4.	Tangible fixed assets

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 April 2018

37,375

83,175

11,359

7,289

139,198

Additions

-

270

-

2,245

2,515

At 31 March 2019

37,375

83,445

11,359

9,534

141,713

Depreciation

At 1 April 2018

36,987

61,034

11,198

6,605

115,824

Charge for year

185

8,480

77

1,071

9,813

At 31 March 2019

37,172

69,514

11,275

7,676

125,637

Net book value

At 31 March 2019

203

13,931

84

1,858

16,076

At 31 March 2018

388

22,141

161

684

23,374

5.

Debtors: amounts falling due within one year

2019

2018

£

£

Trade debtors

1,198,668

982,222

Other debtors

18,621

17,673

1,217,289

999,895

6.

Creditors: amounts falling due within one year

2019

2018

£

£

Bank loans and overdrafts

97,965

-

Trade creditors

7,301

15,818

Taxation and social security

198,344

212,458

Other creditors

260,760

664,509

564,370

892,785

7.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

18,000

18,000

Between one and five years

7,500

25,500

25,500

43,500

8.	Deferred tax

£

Balance at 1 April 2018

(864

)

Provided during year

(1,230

)

Balance at 31 March 2019

(2,094

)

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

8

Ordinary

£1

8

8

10.

Reserves

Retained

Share

earnings

premium

Totals

£

£

£

At 1 April 2018

703,697

49,998

753,695

Profit for the year

219,906

219,906

Dividends

(39,988

)

(39,988

)

At 31 March 2019

883,615

49,998

933,613

11.	Related party disclosures

During the year, total dividends of £39,988 (2018: £405,000) were paid to the directors and shareholders.