Etcetera Construction Services Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02011329 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

ETCETERA CONSTRUCTION SERVICES

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Harkins

D M Harkins

SECRETARY:

J Harkins

REGISTERED OFFICE:

Riverside House

1-5 Como Street

Romford

Essex

RM7 7DN

REGISTERED NUMBER:

02011329 (England and Wales)

ACCOUNTANTS:

Clemence Hoar Cummings

Chartered Accountants

Riverside House

1-5 Como Street

Romford

Essex

RM7 7DN

FIXED ASSETS

Property, plant and equipment

4

1,564,869

1,627,273

Investments

5

7,161,121

7,102,771

Investment property

6

16,881,948

16,881,948

25,607,938

25,611,992

CURRENT ASSETS

Inventories

4,902,400

4,116,434

Debtors

7

1,608,040

1,793,006

Cash at bank and in hand

441,189

1,046,063

6,951,629

6,955,503

CREDITORS

Amounts falling due within one year

8

1,220,981

1,288,532

NET CURRENT ASSETS

5,730,648

5,666,971

TOTAL ASSETS LESS CURRENT LIABILITIES

31,338,586

31,278,963

PROVISIONS FOR LIABILITIES

550,780

550,780

NET ASSETS

30,787,806

30,728,183

CAPITAL AND RESERVES

Called up share capital

109,849

109,849

Retained earnings

30,677,957

30,618,334

SHAREHOLDERS' FUNDS

30,787,806

30,728,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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 March 2024 and were signed on its behalf by:

D M Harkins - Director

J Harkins - Director

1.	STATUTORY INFORMATION

Etcetera Construction Services 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 as modified by the revaluation of certain assets.

Turnover

Revenue 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.

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

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.

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.

Investment properties

Investment properties have been shown at either cost or professional valuation. No depreciation is provided for on these properties.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 November 2022

and 31 October 2023

2,194,692

120,123

165,204

40,872

2,520,891

DEPRECIATION

At 1 November 2022

602,031

120,123

154,045

17,419

893,618

Charge for year

54,866

-

1,674

5,864

62,404

At 31 October 2023

656,897

120,123

155,719

23,283

956,022

NET BOOK VALUE

At 31 October 2023

1,537,795

-

9,485

17,589

1,564,869

At 31 October 2022

1,592,661

-

11,159

23,453

1,627,273

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2023

2022

£

£

Offshore insurance bonds

7,161,121

7,102,771

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2022

and 31 October 2023

16,881,948

NET BOOK VALUE

At 31 October 2023

16,881,948

At 31 October 2022

16,881,948

Fair value at 31 October 2023 is represented by:

£

Valuation in 2003

3,343,060

Valuation in 2012

587,491

Valuation in 2014

1,500,000

Valuation in 2015

(774,376

)

Valuation in 2016

1,488,646

Valuation in 2017

1,576,561

Valuation in 2018

(10,570

)

Cost

9,171,136

16,881,948

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

84,789

408,944

Other debtors

1,523,251

1,384,062

1,608,040

1,793,006

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

118,219

236,275

Taxation and social security

158,547

285,017

Other creditors

944,215

767,240

1,220,981

1,288,532

9.	RELATED PARTY DISCLOSURES

£283,324 was paid to ETC Facilities Ltd in the year ended 31 October 2023 (2022 - £275,130 ) in respect of labour provided. M Harkins owns 100 % of the share capital of that company. M Harkins is a shareholder of Etcetera Construction Services Ltd. D M Harkins is a Director of ETC Facilities Ltd. £37,130 was owed by ETC Facilities Ltd to the company as at Balance Sheet date. (2022 - £8,636)

M & Mrs JM Harkins are also 100% shareholders of Citiscape Developments Ltd who owe £1,145,280 to the company at Balance Sheet date. (2022 £1,125,280). Mrs JM Harkins and DM Harkins are also Directors of this company.

M Harkins owns 50% of the issued share capital of Born Property Development Ltd. DM Harkins is a Director of this company. As at Balance Sheet date Born Property Development Ltd owed £263,469 to Etcetera Construction Services Ltd on loan account (2022 - £166,456) owed to Born Property Development Ltd).