Company Registration No. 09560909 (England and Wales)
A H CONSTRUCTION SOLUTIONS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
PAGES FOR FILING WITH REGISTRAR
A H CONSTRUCTION SOLUTIONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
A H CONSTRUCTION SOLUTIONS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2020
30 September 2020
- 1 -
2020
2019
Notes
£
£
£
£
Current assets
Debtors
4
3,094,397
786,407
Cash at bank and in hand
2,080,292
1,834,477
5,174,689
2,620,884
Creditors: amounts falling due within one year
5
(4,555,080)
(2,487,527)
Net current assets
619,609
133,357
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
619,509
133,257
Total equity
619,609
133,357
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 21 June 2021 and are signed on its behalf by:
R Summerskill
Director
Company Registration No. 09560909
A H CONSTRUCTION SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 2 -
1
Accounting policies
Company information
A H Construction Solutions Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Kemp House, 152-160 City Road, London, United Kingdom, EC1V 2NX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
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.
1.3
Turnover
Turnover is the aggregate of invoiced sales adjusted for amounts recoverable on contracts at the beginning and end of the period, stated net of value added tax and measured at fair value of the consideration received or receivable.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Trade and other debtors
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.
A H CONSTRUCTION SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
1
Accounting policies
(Continued)
- 3 -
1.6
Trade and other creditors
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.
1.7
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using tax rates that have been enacted or substantively enacted by the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against future taxable profits or against the reversal of deferred tax liabilities. Deferred tax relating to a non-depreciable asset that is measured using the revaluation model, or to investment properties measured at fair value, is measured using the tax rates and allowances that apply to the sale of the asset.
Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
1.8
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Judgements and key sources of estimation uncertainty
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 key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.
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.
A H CONSTRUCTION SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 4 -
3
Employees
The average monthly number of persons employed by the company during the year was:
2020
2019
Number
Number
Total
16
12
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
2,906,497
715,171
Other debtors
187,900
71,236
3,094,397
786,407
5
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
2,937,687
2,228,995
Taxation and social security
260,496
85,586
Other creditors
1,356,897
172,946
4,555,080
2,487,527
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements
,
the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006
:
The auditor's report was unqualified.
The senior statutory auditor was Alison Nayler BSc FCA.
The auditor was Azets Audit Services.
7
Pension commitments
At the balance sheet date, the company had unpaid defined contribution pension payable of £2,088 (2019: £2,275).
A H CONSTRUCTION SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 5 -
8
Related party transactions
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.
9
Ultimate parent company
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 Kemp House, 152-160 City Road, London, United Kingdom EC1V 2NX. 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.