A H Construction Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor, Regis House, 45 King William Street, London, United Kingdom, EC4R 9AN.
The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements are prepared on a going concern basis. 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 on the basis that group undertakings and other companies within the group will continue to support the company.
The directors have carried out their assessment of going concern and taking into account the economic conditions and possible changes in trading performance, alongside the facts noted above, they have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. However, because not all future events or conditions can be predicted, this statement is not a guarantee as to the company's ability to continue as a going concern. For example, the extent of the impact of coronavirus is unclear and it is difficult to evaluate all the potential implications on the company's trade, customers, suppliers and the wider economy.
Trade and other debtors are measured at transaction price less any impairment unless the arrangement constitutes a financing transaction in which case the transaction is measured at the present value of the future receipts discounted at the prevailing market rate of interest. Loans are initially measured at fair value and are subsequently measured at amortised cost using the effective interest method less any impairment.
Trade and other creditors are measured at their transaction price unless the arrangement constitutes a financing transaction in which case the transaction is measured at present value of future payments discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair value net of their transaction costs. They are subsequently measured at amortised cost using the effective interest method.
The preparation of financial statements requires management to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the year in which the estimate is revised if the revision affects only that year or in the year of the revision and future years if the revision affects both current and future years.
The only significant estimate included within the financial statements is:
Valuation of amounts recoverable on contracts and payments on account - these are based upon the directors valuation of the work done on projects to date after reviewing external valuations and assessing the work required in order to complete the projects.
With the exception of the estimates described above, the directors consider that there are no other significant judgements or estimates in the preparation of these financial statements.
The average monthly number of persons employed by the company during the year was:
The auditor's report was unqualified.
At the balance sheet date, the company had unpaid defined contribution pension payable of £2,275 (2018: £nil).
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’, not to disclose related party transactions with wholly owned subsidiaries within the group.
The directors regard RST Residential Investments Limited as the ultimate parent company and RST Group Holdings Limited as the immediate parent company. The registered offices of the ultimate and immediate parent companies is 2 nd Floor, Regis House, 45 King William Street, London, United Kingdom EC4R 9AN. The largest group of undertakings for which group accounts have been drawn up is that headed by RST Residential Investments Limited. Copies of the group accounts may be obtained from Companies House.