Accounts filed on 28-02-2022

Accounts filed on 28-02-2022

ABBEYGATE CONSTRUCTION LTD - Company Information

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Registered number: 07959821
Abbeygate Construction Ltd
ACCOUNTS
FOR THE YEAR ENDED 28/02/2022
Prepared By:
M H Accountancy
The Croft
Windsor Green
Cockfield
Bury St Edmunds
IP30 0LY
Abbeygate Construction Ltd
ACCOUNTS
FOR THE YEAR ENDED 28/02/2022
DIRECTORS
Jason Milward
Matthew Gray
REGISTERED OFFICE
Forge Cottage
Great Green
Cockfield
Bury St Edmunds
IP30 0HJ
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 07959821
ACCOUNTANTS
M H Accountancy
The Croft
Windsor Green
Cockfield
Bury St Edmunds
IP30 0LY
Abbeygate Construction Ltd
ACCOUNTS
FOR THEYEARENDED28/02/2022
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts5
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Abbeygate Construction Ltd
BALANCE SHEET AT 28/02/2022
20222021
Notes££
FIXED ASSETS
Tangible assets215,01219,625
CURRENT ASSETS
Stock334,59741,515
Debtors425,58518,924
Cash at bank and in hand54,018128,029
414,200188,468
CREDITORS: Amounts falling due within one year593,154101,898
NET CURRENT ASSETS321,04686,570
TOTAL ASSETS LESS CURRENT LIABILITIES336,058106,195
CREDITORS: Amounts falling due after more than one year6253,28944,982
PROVISIONS FOR LIABILITIES AND CHARGES82,8523,775
NET ASSETS79,91757,438
CAPITAL AND RESERVES
Called up share capital911
Profit and loss account79,91657,437
SHAREHOLDERS' FUNDS79,91757,438
Abbeygate Construction Ltd
BALANCE SHEET AT 28/02/2022
For the year ending 28/02/2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 07/06/2022 and signed on their behalf by
.............................
Jason Milward
Director
.............................
Matthew Gray
Director
Abbeygate Construction Ltd
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 28/02/2022
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 15%
Commercial Vehiclesreducing balance 25%
Equipmentreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Leasing Commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.
Abbeygate Construction Ltd
2. TANGIBLE FIXED ASSETS
Plant andCommercial
MachineryVehiclesEquipmentTotal
££££
Cost
At 01/03/20215,77747,41996254,158
At 28/02/20225,77747,41996254,158
Depreciation
At 01/03/20212,84831,08360234,533
For the year4384,085904,613
At 28/02/20223,28635,16869239,146
Net Book Amounts
At 28/02/20222,49112,25127015,012
At 28/02/20212,92916,33636019,625
3. STOCK 20222021
££
Stock comprises:
Stock materials1,2001,200
Work in progress333,39740,315
334,59741,515
4. DEBTORS 20222021
££
Amounts falling due within one year
Trade debtors24,64717,976
Prepayments938948
25,58518,924
Abbeygate Construction Ltd
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20222021
££
UK corporation tax26,03020,121
VAT12,7195,594
CIS control1,736846
Directors current account - Jason Milward9851,044
Directors current account - Matthew Gray1,3621,459
Bank Loan29,80556,397
Hire purchase7,5937,158
Trade creditors11,3597,529
Paye Control202263
Accruals1,3631,487
93,154101,898
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20222021
££
Bank loans (unsecured) >1yr65,29231,408
Bank loans (secured) >1yr182,016-
Hire purchase >1yr5,98113,574
253,28944,982
7. EMPLOYEES
20222021
No.No.
Average number of employees32
8. PROVISIONS FOR LIABILITIES 20222021
££
Deferred taxation2,8523,775
2,8523,775
Abbeygate Construction Ltd
9. SHARE CAPITAL 20222021
££
Allotted, issued and fully paid:
2 Ordinary shares of £0.50 each11
11