ITH Construction Limited - Accounts to registrar (filleted) - small 23.2.5

ITH Construction Limited - Accounts to registrar (filleted) - small 23.2.5

ITH CONSTRUCTION LIMITED - Company Information

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REGISTERED NUMBER: 08518328 (England and Wales)


















ITH CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022





Llewelyn Davies
Chartered Accountants
Yelverton House
St John Street
Whitland
Carmarthenshire
SA34 0AW








ITH CONSTRUCTION LIMITED (REGISTERED NUMBER: 08518328)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ITH CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: Mr I T Harries
Mrs J Harries





REGISTERED OFFICE: Rowlands View
Templeton
Narberth
Pembrokeshire
SA67 8RG





REGISTERED NUMBER: 08518328 (England and Wales)





ACCOUNTANTS: Llewelyn Davies
Chartered Accountants
Yelverton House
St John Street
Whitland
Carmarthenshire
SA34 0AW
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ITH CONSTRUCTION LIMITED (REGISTERED NUMBER: 08518328)

ABRIDGED BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 123,144 128,271

CURRENT ASSETS
Stocks 105,100 816,959
Debtors 412,988 271,295
Cash at bank and in hand 32,912 18,809
551,000 1,107,063
CREDITORS
Amounts falling due within one year 1,068,771 1,093,804
NET CURRENT (LIABILITIES)/ASSETS (517,771 ) 13,259
TOTAL ASSETS LESS CURRENT
LIABILITIES
(394,627
)
141,530

CREDITORS
Amounts falling due after more than
one year
7,430
24,429
NET (LIABILITIES)/ASSETS (402,057 ) 117,101

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (402,058 ) 117,100
SHAREHOLDERS' FUNDS (402,057 ) 117,101

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 notes form part of these financial statements

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ITH CONSTRUCTION LIMITED (REGISTERED NUMBER: 08518328)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 December 2023 and were signed on its behalf by:




Mr I T Harries - Director



Mrs J Harries - Director


The notes form part of these financial statements

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ITH CONSTRUCTION LIMITED (REGISTERED NUMBER: 08518328)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

ITH 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on reducing balance

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2021 - 12 ) .

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ITH CONSTRUCTION LIMITED (REGISTERED NUMBER: 08518328)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2022 202,719
Additions 27,100
At 31 December 2022 229,819
DEPRECIATION
At 1 January 2022 74,448
Charge for year 32,227
At 31 December 2022 106,675
NET BOOK VALUE
At 31 December 2022 123,144
At 31 December 2021 128,271

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2022
and 31 December 2022 134,500
DEPRECIATION
At 1 January 2022 54,500
Charge for year 16,000
At 31 December 2022 70,500
NET BOOK VALUE
At 31 December 2022 64,000
At 31 December 2021 80,000

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