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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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WELDIN BUILDERS LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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FOR |
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WELDIN BUILDERS LIMITED |
WELDIN BUILDERS LIMITED (REGISTERED NUMBER: 02052523) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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WELDIN BUILDERS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
7 St John's Road |
Harrow |
Middlesex |
HA1 2EY |
WELDIN BUILDERS LIMITED (REGISTERED NUMBER: 02052523) |
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BALANCE SHEET |
30 SEPTEMBER 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Prepayments and accrued income |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings | 12 |
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SHAREHOLDERS' FUNDS |
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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. |
WELDIN BUILDERS LIMITED (REGISTERED NUMBER: 02052523) |
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BALANCE SHEET - continued |
30 SEPTEMBER 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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WELDIN BUILDERS LIMITED (REGISTERED NUMBER: 02052523) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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1. | STATUTORY INFORMATION |
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Weldin Builders Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Government grants |
Grants relating to revenue are recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grant which becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs is recognised in income in the period in which it becomes receivable. |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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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. |
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Financial instruments |
Financial assets and liabilities are recognized in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument. |
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Loans and borrowings |
Loans and borrowings are measured initially at fair value, net of transactions costs and are measured subsequently at amortised cost using the effective interest method. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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WELDIN BUILDERS LIMITED (REGISTERED NUMBER: 02052523) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 October 2020 |
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Additions |
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Disposals |
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At 30 September 2021 |
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DEPRECIATION |
At 1 October 2020 |
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Charge for year |
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Eliminated on disposal |
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At 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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At 30 September 2020 |
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5. | STOCKS |
2021 | 2020 |
£ | £ |
Work-in-progress |
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WELDIN BUILDERS LIMITED (REGISTERED NUMBER: 02052523) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Accrued income |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts (see note 9) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Bank loans (see note 9) |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loan new account - Long t | 1,100,000 | 1,100,000 |
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9. | LOANS |
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An analysis of the maturity of loans is given below: |
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2021 | 2020 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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Bank loans |
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Amounts falling due between one and two years: |
Bank loans - 1-2 years |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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Amounts falling due in more than five years: |
WELDIN BUILDERS LIMITED (REGISTERED NUMBER: 02052523) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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9. | LOANS - continued |
2021 | 2020 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loan new account - Long t | 1,100,000 | 1,100,000 |
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10. | SECURED DEBTS |
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The bank loan is secured by a legal charge over the company's property - Pickard House. |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | 1 | 100 | 100 |
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12. | RESERVES |
Retained |
earnings |
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At 1 October 2020 |
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Profit for the year |
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Dividends | ( |
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At 30 September 2021 |
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13. | RELATED PARTY DISCLOSURES |
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The company paid dividend of £60,000 (2020: £50,000) during the year to the directors of the company. |
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Included in the creditors, as at the year end is £154 (2020: £3,990), an amount owed to the directors of the company. There are no specific terms of repayment. |
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During the year, the company carried out building works amounting to £23,500 (2020: £74,000) for Shapes Day Nurseries Limited, a company registered in England. Weldin Builders Limited and Shapes Day Nurseries Limited are related by virtue of common director. |
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Included in the debtors as at the year end is £13,200 (2020: £13,200), an amount owed from Shapes Day Nurseries Limited. There are no specific terms of repayment. |