Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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24,800 | 10,493 | |||
Current assets | ||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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327,560 | 249,468 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 120,511 | 146,823 | ||
Total assets less current liabilities | 145,311 | 157,316 | ||
Creditors: amounts falling due after more than one year | 7 | (
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Provision for liabilities | 8 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 9 |
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Profit and loss account |
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Total shareholders' funds |
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Director's responsibilities:
The financial statements of Buff Construction Limited (registered number:
Scott Justen Whitmore
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Buff Construction Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Larking Gowen 1st Floor Prospect House, Rouen Road, Norwich, NR1 1RE, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Goodwill |
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All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Plant and machinery |
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Vehicles |
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Office equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 01 May 2022 |
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At 30 April 2023 |
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Accumulated amortisation | |||
At 01 May 2022 |
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At 30 April 2023 |
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Net book value | |||
At 30 April 2023 |
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At 30 April 2022 |
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Plant and machinery | Vehicles | Office equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 May 2022 |
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Additions |
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Disposals |
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At 30 April 2023 |
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Accumulated depreciation | |||||||
At 01 May 2022 |
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Charge for the financial year |
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Disposals |
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At 30 April 2023 |
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Net book value | |||||||
At 30 April 2023 |
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At 30 April 2022 |
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2023 | 2022 | ||
£ | £ | ||
Trade debtors |
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Prepayments and accrued income |
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VAT recoverable |
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£ | £ | ||
Bank loans |
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Trade creditors |
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Accruals |
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CIS withheld |
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Taxation and social security |
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Obligations under finance leases and hire purchase contracts |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans |
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Obligations under finance leases and hire purchase contracts |
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2023 | 2022 | ||
£ | £ | ||
At the beginning of financial year | (
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(Charged)/credited to the Income Statement | (
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At the end of financial year | (
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The deferred taxation balance is made up as follows:
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£ | £ | ||
Accelerated capital allowances | (
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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