Southdown Construction (Metalwork) Limit - Accounts to registrar (filleted) - small 18.2

Southdown Construction (Metalwork) Limit - Accounts to registrar (filleted) - small 18.2

SOUTHDOWN CONSTRUCTION (METALWORK) LIMITED - Company Information

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IRIS Accounts Production v20.3.4.1 04953160 Board of Directors 1.3.19 29.2.20 29.2.20 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure049531602019-02-28049531602020-02-29049531602019-03-012020-02-29049531602018-02-28049531602018-03-012019-02-28049531602019-02-2804953160ns16:EnglandWales2019-03-012020-02-2904953160ns15:PoundSterling2019-03-012020-02-2904953160ns11:Director12019-03-012020-02-2904953160ns11:PrivateLimitedCompanyLtd2019-03-012020-02-2904953160ns11:SmallEntities2019-03-012020-02-2904953160ns11:AuditExempt-NoAccountantsReport2019-03-012020-02-2904953160ns11:SmallCompaniesRegimeForDirectorsReport2019-03-012020-02-2904953160ns11:SmallCompaniesRegimeForAccounts2019-03-012020-02-2904953160ns11:FullAccounts2019-03-012020-02-2904953160ns11:OrdinaryShareClass12019-03-012020-02-2904953160ns11:Director22019-03-012020-02-2904953160ns11:RegisteredOffice2019-03-012020-02-2904953160ns6:CurrentFinancialInstruments2020-02-2904953160ns6:CurrentFinancialInstruments2019-02-2804953160ns6:ShareCapital2020-02-2904953160ns6:ShareCapital2019-02-2804953160ns6:RetainedEarningsAccumulatedLosses2020-02-2904953160ns6:RetainedEarningsAccumulatedLosses2019-02-2804953160ns6:PlantMachinery2019-03-012020-02-2904953160ns6:MotorVehicles2019-02-2804953160ns6:MotorVehicles2019-03-012020-02-2904953160ns6:MotorVehicles2020-02-2904953160ns6:MotorVehicles2019-02-2804953160ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-02-2904953160ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-02-2804953160ns6:AcceleratedTaxDepreciationDeferredTax2020-02-2904953160ns6:AcceleratedTaxDepreciationDeferredTax2019-02-2804953160ns6:DeferredTaxation2019-02-2804953160ns6:DeferredTaxation2020-02-2904953160ns11:OrdinaryShareClass12020-02-29
REGISTERED NUMBER: 04953160 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2020

FOR

SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED
SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED (REGISTERED NUMBER: 04953160)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2020







DIRECTORS: P J Knee
M W Gale





REGISTERED OFFICE: Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ





REGISTERED NUMBER: 04953160 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ
Page 1
SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED (REGISTERED NUMBER: 04953160)

BALANCE SHEET
29TH FEBRUARY 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,280 7,041

CURRENT ASSETS
Stocks 5 494,140 734,000
Debtors 6 347,432 149,106
Cash at bank and in hand 132,048 45,643
973,620 928,749
CREDITORS
Amounts falling due within one year 7 764,099 719,078
NET CURRENT ASSETS 209,521 209,671
TOTAL ASSETS LESS CURRENT
LIABILITIES
214,801
216,712

PROVISIONS FOR LIABILITIES 8 913 1,228
NET ASSETS 213,888 215,484

CAPITAL AND RESERVES
Called up share capital 9 166,666 166,666
Retained earnings 47,222 48,818
SHAREHOLDERS' FUNDS 213,888 215,484

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2020 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 notes form part of these financial statements

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SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED (REGISTERED NUMBER: 04953160)

BALANCE SHEET - continued
29TH FEBRUARY 2020


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 26th February 2021 and were signed on its behalf by:





M W Gale - Director


The notes form part of these financial statements

Page 3
SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED (REGISTERED NUMBER: 04953160)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2020

1. STATUTORY INFORMATION

Southdown Construction (Metalwork) 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.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

Turnover
Turnover represents the value of work done during the year,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

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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.


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SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED (REGISTERED NUMBER: 04953160)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2020

2. ACCOUNTING POLICIES - continued
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.

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.

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 profit or loss.

Stock is also 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 costs 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 profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2019 - 38 ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1st March 2019
and 29th February 2020 67,959
DEPRECIATION
At 1st March 2019 60,918
Charge for year 1,761
At 29th February 2020 62,679
NET BOOK VALUE
At 29th February 2020 5,280
At 28th February 2019 7,041

Page 5 continued...
SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED (REGISTERED NUMBER: 04953160)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2020

5. STOCKS
2020 2019
£    £   
Stocks 9,000 9,000
Work-in-progress 485,140 725,000
494,140 734,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 283,281 96,099
Other debtors 64,151 53,007
347,432 149,106

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 337,855 302,693
Taxation and social security 119,328 113,846
Other creditors 306,916 302,539
764,099 719,078

8. PROVISIONS FOR LIABILITIES
2020 2019
£    £   
Deferred tax
Accelerated capital allowances 913 1,228

Deferred
tax
£   
Balance at 1st March 2019 1,228
Accelerated capital allowances (315 )
Balance at 29th February 2020 913

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2020 2019
value: £    £   
166,666 Ordinary £1 166,666 166,666

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SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED (REGISTERED NUMBER: 04953160)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2020

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed M Gale, a director £Nil (2019: £28,928).

During the year the company paid dividends of £158,900 (2019: £36,000) to the directors and their family members.

11. RELATED PARTY DISCLOSURES

Blastreat (Arundel) Limited;

Blastreat (Arundel) Limited is a connected company as it has directors and shareholders in common with Southdown Construction (Metalwork) Limited.

During the year the company made purchases of £28,908 (2019: £33,534) from Blastreat (Arundel) Limited, a connected company. The company owed Blastreat (Arundel) Limited £15,320 (2019: £24,421) as at 29th February 2020.

During the year the company made sales of £121 (2019: £3,401) to Blastreat (Arundel) Limited, a connected company. At the year end the net amount due from that company was £Nil (2019: £672).

Avantec Limited

Avantec Limited is a connected company as it has directors and shareholders in common with Avantec Limited.

During the year the company made purchases from Avantec Limited of £nil (2019: £6,511). At the year end the company owed Avantec Limited £45,976 (2019: £45,976).

During the year the company repaid various loans to Avantec Limited. At the year end the company owed Avantec Limited the sum of £170,000 (2019: £270,000).

Hawksley & Sons Limited

Hawksley & Sons Limited is a connected company as M W Gale, a key member of management of Southdown Construction (Metalwork) Limited is a director and shareholder of Hawksley & Sons Limited.

During the year the company made purchases of £1,146 (2019: £10,757) from Hawksley and Sons Limited, a connected company. The company owed Hawksley & Sons Limited £Nil (2019: £2,444) at 29th February 2020.

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