Southbay Civil Engineering Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06324602

Unaudited Financial Statements for the Year Ended 31 July 2022

for

Southbay Civil Engineering Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Stephenson

A Ballantyne

SECRETARY:

REGISTERED OFFICE:

The Bailey

Cumberland Rd

North Shields

Tyne & Wear

NE29 8RD

REGISTERED NUMBER:

06324602

ACCOUNTANTS:

Grosvenor Business and Accountancy Services Ltd

162 Grosvenor Rd

South Shields

Tyne and Wear

NE33 3HS

FIXED ASSETS

Tangible assets

4

44,285

75,336

CURRENT ASSETS

Stocks

1,404,146

686,323

Debtors

5

780,794

807,674

Cash at bank

3,812,256

2,444,222

5,997,196

3,938,219

CREDITORS

Amounts falling due within one year

6

3,559,501

2,605,350

NET CURRENT ASSETS

2,437,695

1,332,869

TOTAL ASSETS LESS CURRENT LIABILITIES

2,481,980

1,408,205

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,481,978

1,408,203

2,481,980

1,408,205

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 7 October 2022 and were signed on its behalf by:

P Stephenson - Director

1.	STATUTORY INFORMATION

Southbay Civil Engineering Limited is a private company, limited by shares , registered in Not specified/Other. 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

-

25% on reducing balance

Stocks

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

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 41 (2021 - 41 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2021

290,568

Disposals

(9,056

)

At 31 July 2022

281,512

DEPRECIATION

At 1 August 2021

215,232

Charge for year

29,642

Eliminated on disposal

(7,647

)

At 31 July 2022

237,227

NET BOOK VALUE

At 31 July 2022

44,285

At 31 July 2021

75,336

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Trade debtors

300,000

(306

)

Amounts recoverable on contract

403,139

255,766

Other debtors

77,655

552,214

780,794

807,674

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Hire purchase contracts

3,231

15,193

Trade creditors

1,855,267

1,524,057

Taxation and social security

773,277

354,429

Other creditors

927,726

711,671

3,559,501

2,605,350