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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2020 |
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21ST CENTURY BUILDING SERVICES LTD. |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2020 |
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FOR |
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21ST CENTURY BUILDING SERVICES LTD. |
21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2020 |
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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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21ST CENTURY BUILDING SERVICES LTD. |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Dean House |
94 Whiteladies Road |
Clifton |
Bristol |
BS8 2QX |
21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614) |
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BALANCE SHEET |
31 MAY 2020 |
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31.5.20 | 31.5.19 |
as restated |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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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 | 9 |
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Retained earnings |
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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. |
21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614) |
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BALANCE SHEET - continued |
31 MAY 2020 |
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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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21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2020 |
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1. | STATUTORY INFORMATION |
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21st Century Building Services Ltd. 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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The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. |
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The directors have considered the effects of the current Coronavirus pandemic on the outlook for the business. Whilst the business has needed to make certain adjustments to its working practices, these have not added significant costs to the business and the directors believe the demand for the company's services will continue to remain strong. |
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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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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the period, exclusive of value added tax. |
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Turnover and profit on construction contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty, Profit is calculated on a prudent bases to reflect the proportion of work carried during the period, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total estimated costs for that contract. Full provision is made for losses on contracts in the year in which they are first foreseen. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Government grants |
Grants are accounted under the accruals model as permitted by FRS 102. Grants that are received in respect of expenses or losses already incurred are recognised in "other income" within profit and loss in the period when the grant becomes receivable. |
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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. |
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21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2020 |
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2. | ACCOUNTING POLICIES - continued |
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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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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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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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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21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2020 |
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4. | TANGIBLE FIXED ASSETS |
Short | Plant and | Motor | Computer |
leasehold | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 June 2019 |
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Additions |
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Disposals | ( |
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At 31 May 2020 |
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DEPRECIATION |
At 1 June 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 May 2020 |
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NET BOOK VALUE |
At 31 May 2020 |
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At 31 May 2019 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
At 1 June 2019 |
and 31 May 2020 |
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DEPRECIATION |
At 1 June 2019 |
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Charge for year |
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At 31 May 2020 |
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NET BOOK VALUE |
At 31 May 2020 |
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At 31 May 2019 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2019 |
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Impairments | (29,540 | ) |
At 31 May 2020 |
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NET BOOK VALUE |
At 31 May 2020 |
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At 31 May 2019 |
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21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2020 |
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5. | INVESTMENT PROPERTY - continued |
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The investment property was valued on an open market basis at the year end by the directors of the company, based on information afforded by recent professional valuations of similar properties. |
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The values shown above for investment property are analysed as follows: |
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Revaluation surplus | - |
Cost | 120,000 |
Total | 120,000 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.20 | 31.5.19 |
as restated |
£ | £ |
Trade debtors |
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Amounts recoverable on long term contracts |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.20 | 31.5.19 |
as restated |
£ | £ |
Hire purchase contracts |
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Payments on account |
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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 |
31.5.20 | 31.5.19 |
as restated |
£ | £ |
Hire purchase contracts |
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21ST CENTURY BUILDING SERVICES LTD. (REGISTERED NUMBER: 04002614) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2020 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: |
Class: |
Nominal |
31.5.20 |
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31.5.19as
restated |
Value | £ | £ |
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96 | Ordinary A | £1 | 96 | 100 |
1 | Ordinary B | £1 | 1 | - |
1 | Ordinary C | £1 | 1 | - |
1 | Ordinary D | £1 | 1 | - |
1 | Ordinary E | £1 | 1 | - |
100 | 100 |
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10. | OTHER FINANCIAL COMMITMENTS |
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The total amount of commitments that are not included in the balance sheet are £157,811 (2019 - £184,161). The commitments relate to rent payable in future periods in respect of leased premises. |
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11. | RELATED PARTY DISCLOSURES |
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One of the directors owed £98,856 to the company at the beginning of the year, the amount was repaid in full during the year. |
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At the year end, the directors were owed £22,950 by the company, the amounts are repayable on demand. |
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No interest was charged in the year on any amounts due to or from the directors. |