Amalgamated Builders (Holdings) Limited
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Notes to the Accounts |
for the year ended 31 May 2017
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Plant and machinery |
over 5 years |
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Investments |
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Investments in subsidiaries are measured at fair value, based on the company's share of the fair value of the underlying net assets.
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
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2 |
Audit information |
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The audit report is unqualified.
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Senior statutory auditor: |
Roy A Warren
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Firm: |
Warren Clare
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Date of audit report: |
23 February 2018
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3 |
Tangible fixed assets |
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Land and buildings |
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Plant and machinery etc |
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Total |
£ |
£ |
£ |
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Cost |
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At 1 June 2016 |
140,996 |
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17,897 |
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158,893 |
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Disposals |
(15,000) |
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- |
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(15,000) |
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At 31 May 2017 |
125,996 |
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17,897 |
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143,893 |
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Depreciation |
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At 1 June 2016 |
- |
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17,896 |
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17,896 |
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At 31 May 2017 |
- |
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17,896 |
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17,896 |
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Net book value |
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At 31 May 2017 |
125,996 |
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1 |
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125,997 |
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At 31 May 2016 |
140,996 |
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1 |
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140,997 |
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4 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
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Fair value |
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At 1 June 2016 |
2,058,000 |
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At 31 May 2017 |
2,058,000 |
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5 |
Debtors |
2017 |
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2016 |
£ |
£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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1,588,945 |
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1,370,661 |
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Amounts due after more than one year included above |
1,588,945 |
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1,370,661 |
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6 |
Creditors: amounts falling due within one year |
2017 |
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2016 |
£ |
£ |
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Trade creditors |
590 |
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7,905 |
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Corporation tax |
11,621 |
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9,030 |
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Other taxes and social security costs |
62,169 |
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57,183 |
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Other creditors |
67,708 |
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108,328 |
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142,088 |
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182,446 |
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7 |
Creditors: amounts falling due after one year |
2017 |
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2016 |
£ |
£ |
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Bank loans |
36,676 |
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45,924 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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719,243 |
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679,218 |
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755,919 |
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725,142 |
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8 |
Revaluation reserve |
2017 |
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2016 |
£ |
£ |
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At 1 June 2016 |
2,057,990 |
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2,057,990 |
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At 31 May 2017 |
2,057,990 |
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2,057,990 |
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9 |
Controlling party |
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The company is controlled by A E Frazier (67%) and E L Frazier (25%) both being directors of the company.
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10 |
Other information |
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Amalgamated Builders (Holdings) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Great Seabrook House |
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Cheddington |
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Bedfordshire |
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LU7 9AB |