Owens Construction Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05449066 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

OWENS CONSTRUCTION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Owens

Mrs A J Owens

REGISTERED OFFICE:

61 Station Road

Sudbury

Suffolk

CO10 2SP

REGISTERED NUMBER:

05449066 (England and Wales)

ACCOUNTANTS:

Seago and Stopps

Chartered Certified Accountants

61 Station Road

Sudbury

Suffolk

CO10 2SP

FIXED ASSETS

-

Intangible assets

4

-

116,946

Tangible assets

5

151,714

116,946

151,714

CURRENT ASSETS

60,000

Stocks

58,000

15,022

Debtors

6

183,965

210,656

Cash at bank and in hand

131,955

285,678

373,920

CREDITORS

151,064

Amounts falling due within one year

7

209,208

134,614

NET CURRENT ASSETS

164,712

251,560

TOTAL ASSETS LESS CURRENT LIABILITIES

316,426

CREDITORS

(49,089

)

Amounts falling due after more than one year

8

(52,034

)

(22,220

)

PROVISIONS FOR LIABILITIES

(15,507

)

180,251

NET ASSETS

248,885

CAPITAL AND RESERVES

10

Called up share capital

10

180,241

Retained earnings

248,875

180,251

SHAREHOLDERS' FUNDS

248,885

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 21 September 2022 and were signed on its behalf by:

Mrs A J Owens - Director

1.	STATUTORY INFORMATION

Owens Construction 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover represents the value of work completed during the year, by reference to invoiced sales and the movement between opening and closing work in progress and trade debtor balances.

Intangible assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, has been amortised in full over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & equipment - 25% on reducing balance

Motor vehicles - 25% on reducing balance

Computer equipment - 25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Financial instruments

The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

12,500

AMORTISATION

At 1 April 2021

and 31 March 2022

12,500

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Assets included within motor vehicles which are financed under hire purchase agreements as at 31st March 2022 have a net book value of £63,840 (2021 - £10,546).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

172,103

7,374

Other debtors

11,862

7,648

183,965

15,022

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

10,000

7,500

Hire purchase contracts

9,581

3,438

Trade creditors

53,609

48,703

Taxation and social security

110,034

72,288

Other creditors

25,984

19,135

209,208

151,064

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

32,500

42,500

Hire purchase contracts

19,534

6,589

52,034

49,089