SS Contractors Limited - Accounts to registrar (filleted) - small 18.2

SS Contractors Limited - Accounts to registrar (filleted) - small 18.2

SS CONTRACTORS LIMITED - Company Information

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REGISTERED NUMBER: 05143697 (England and Wales)















Unaudited Financial Statements

For The Year Ended 31 October 2020

for

SS Contractors Limited
SS Contractors Limited (Registered number: 05143697)






Contents of the Financial Statements
For The Year Ended 31 October 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SS Contractors Limited


Company Information
For The Year Ended 31 October 2020







DIRECTORS: Mr S Saleh
Mrs P Ahmad





SECRETARY: Mrs P Ahmad





REGISTERED OFFICE: 51 Grenoble Gardens
London
N13 6JE





REGISTERED NUMBER: 05143697 (England and Wales)





ACCOUNTANTS: RNS Business Solutions Limited
Chartered Accountants
276 Preston Road
Harrow
Middlesex
HA3 0QA
Page 1
SS Contractors Limited (Registered number: 05143697)


Balance Sheet
31 October 2020

31/10/20 31/10/19
Notes £    £   
FIXED ASSETS
Tangible assets 4 9,074 -

CURRENT ASSETS
Stocks 2,200 2,950
Debtors 5 79,416 271,876
Cash at bank and in hand 214,567 52,873
296,183 327,699
CREDITORS
Amounts falling due within one year 6 (115,784 ) (71,790 )
NET CURRENT ASSETS 180,399 255,909
TOTAL ASSETS LESS CURRENT
LIABILITIES
189,473
255,909

CREDITORS
Amounts falling due after more than one year 7 (50,000 ) -

PROVISIONS FOR LIABILITIES (1,724 ) -
NET ASSETS 137,749 255,909

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 137,649 255,809
SHAREHOLDERS' FUNDS 137,749 255,909

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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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SS Contractors Limited (Registered number: 05143697)


Balance Sheet - continued
31 October 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2021 and were signed on its behalf by:




Mr S Saleh - Director



Mrs P Ahmad - Director


The notes form part of these financial statements

Page 3
SS Contractors Limited (Registered number: 05143697)


Notes to the Financial Statements
For The Year Ended 31 October 2020

1. STATUTORY INFORMATION

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

Government grants
Government grants, including non-monetary grants are recognised when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants are recognised either based on the performance model or the accrual model. This policy is applied on a class-by-class basis.

Amounts received under the Coronavirus Job Retention Scheme (CJRS) Grants are recognised as income based on the accrual model. During the year the company has recognised £23,669 as income in the profit and loss account.

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

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 debtors and creditors, loans from banks and other third parties, loans to related parties.

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 and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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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SS Contractors Limited (Registered number: 05143697)


Notes to the Financial Statements - continued
For The Year Ended 31 October 2020

2. ACCOUNTING POLICIES - continued

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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2019 - 5 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
Additions 10,200 1,143 11,343
At 31 October 2020 10,200 1,143 11,343
DEPRECIATION
Charge for year 2,040 229 2,269
At 31 October 2020 2,040 229 2,269
NET BOOK VALUE
At 31 October 2020 8,160 914 9,074

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/20 31/10/19
£    £   
Trade debtors 224 4,626
Other debtors 79,192 267,250
79,416 271,876

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SS Contractors Limited (Registered number: 05143697)


Notes to the Financial Statements - continued
For The Year Ended 31 October 2020

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/20 31/10/19
£    £   
Trade creditors 19,117 9,906
Taxation and social security 33,673 16,597
Other creditors 62,994 45,287
115,784 71,790

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/10/20 31/10/19
£    £   
Bank loans 50,000 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 50,000 -

8. RELATED PARTY DISCLOSURES

Included in creditors is an amount due to directors and shareholders of £56,942 (2019: £39,940). The outstanding loan due is interest free and payable on demand.

9. POST BALANCE SHEET EVENTS

The COVID-19 pandemic has developed rapidly in 2020. Measures taken by various governments to contain the spread of the virus have affected economic activity. We have taken a number of measures to monitor and mitigate the effects of COVID-19, such as health and safety measures of our people.

At this stage, the impact on our business and results has not been significant and based on our experience to date we expect this to remain the case. The directors will continue to follow various government policies and advice and continue the company's operations in the best and safest way possible without jeopardising the health of the staff and the general public.

Page 6