Wilson Construction Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 02427375 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

WILSON CONSTRUCTION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C B Wilson

Mrs S P Wilson

REGISTERED OFFICE:

Saltcoats House

Cutlers Road

South Woodham Ferrers

Chelmsford

Essex

CM3 5WA

REGISTERED NUMBER:

02427375 (England and Wales)

ACCOUNTANTS:

CBHC Limited

Suite 3, The Hamilton Centre

Rodney Way

Chelmsford

Essex

CM1 3BY

FIXED ASSETS

Tangible assets

4

129,954

170,518

CURRENT ASSETS

Stocks

91,630

10,000

Debtors

5

13,000

1,573,712

Cash at bank and in hand

85,663

215,912

190,293

1,799,624

CREDITORS

Amounts falling due within one year

6

378,741

1,022,009

NET CURRENT (LIABILITIES)/ASSETS

(188,448

)

777,615

TOTAL ASSETS LESS CURRENT LIABILITIES

(58,494

)

948,133

CREDITORS

Amounts falling due after more than one year

7

49,517

346,106

NET (LIABILITIES)/ASSETS

(108,011

)

602,027

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(109,011

)

601,027

SHAREHOLDERS' FUNDS

(108,011

)

602,027

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 9 December 2022 and were signed on its behalf by:

C B Wilson - Director

1.	STATUTORY INFORMATION

Wilson 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.

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

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

-

33% on cost and 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.

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

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 5 (2021 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

383,543

Additions

2,402

At 31 March 2022

385,945

DEPRECIATION

At 1 April 2021

213,025

Charge for year

42,966

At 31 March 2022

255,991

NET BOOK VALUE

At 31 March 2022

129,954

At 31 March 2021

170,518

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/22

31/3/21

£

£

Trade debtors

-

1,430,737

Other debtors

13,000

142,975

13,000

1,573,712

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/22

31/3/21

£

£

Hire purchase contracts

46,589

49,173

Trade creditors

36,024

295,799

Taxation and social security

26,567

152,699

Other creditors

269,561

524,338

378,741

1,022,009

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/22

31/3/21

£

£

Bank loans

-

250,000

Hire purchase contracts

49,517

96,106

49,517

346,106

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date C Wilson was owed £6,042 (2021: £4,004) from the company.

9.	RELATED PARTY DISCLOSURES

At the balance sheet date Automotive Mechanical Services Limited owed Wilson Construction Limited £Nil (2021: £135,000).

At the balance sheet date Wilson Construction Limited owed £190,000 to Wilson Plant Limited (2021: £Nil).