Caseware UK (AP4) 2021.0.152 2021.0.152 2022-05-312022-05-31false2021-06-01No description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01595475 2021-06-01 2022-05-31 01595475 2020-06-01 2021-05-31 01595475 2022-05-31 01595475 2021-05-31 01595475 c:Director1 2021-06-01 2022-05-31 01595475 d:Buildings 2021-06-01 2022-05-31 01595475 d:Buildings 2022-05-31 01595475 d:Buildings 2021-05-31 01595475 d:Buildings d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 01595475 d:Buildings d:LeasedAssetsHeldAsLessee 2021-06-01 2022-05-31 01595475 d:PlantMachinery 2021-06-01 2022-05-31 01595475 d:PlantMachinery 2022-05-31 01595475 d:PlantMachinery 2021-05-31 01595475 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 01595475 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2021-06-01 2022-05-31 01595475 d:MotorVehicles 2021-06-01 2022-05-31 01595475 d:MotorVehicles 2022-05-31 01595475 d:MotorVehicles 2021-05-31 01595475 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 01595475 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2021-06-01 2022-05-31 01595475 d:FurnitureFittings 2021-06-01 2022-05-31 01595475 d:FurnitureFittings 2022-05-31 01595475 d:FurnitureFittings 2021-05-31 01595475 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 01595475 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2021-06-01 2022-05-31 01595475 d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 01595475 d:LeasedAssetsHeldAsLessee 2021-06-01 2022-05-31 01595475 d:CurrentFinancialInstruments 2022-05-31 01595475 d:CurrentFinancialInstruments 2021-05-31 01595475 d:Non-currentFinancialInstruments 2022-05-31 01595475 d:Non-currentFinancialInstruments 2021-05-31 01595475 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 01595475 d:CurrentFinancialInstruments d:WithinOneYear 2021-05-31 01595475 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 01595475 d:Non-currentFinancialInstruments d:AfterOneYear 2021-05-31 01595475 d:ShareCapital 2022-05-31 01595475 d:ShareCapital 2021-05-31 01595475 d:RetainedEarningsAccumulatedLosses 2021-06-01 2022-05-31 01595475 d:RetainedEarningsAccumulatedLosses 2022-05-31 01595475 d:RetainedEarningsAccumulatedLosses 2021-05-31 01595475 c:FRS102 2021-06-01 2022-05-31 01595475 c:AuditExempt-NoAccountantsReport 2021-06-01 2022-05-31 01595475 c:FullAccounts 2021-06-01 2022-05-31 01595475 c:PrivateLimitedCompanyLtd 2021-06-01 2022-05-31 01595475 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 01595475 d:AcceleratedTaxDepreciationDeferredTax 2021-05-31 01595475 d:TaxLossesCarry-forwardsDeferredTax 2022-05-31 01595475 d:TaxLossesCarry-forwardsDeferredTax 2021-05-31 01595475 d:RetirementBenefitObligationsDeferredTax 2022-05-31 01595475 d:RetirementBenefitObligationsDeferredTax 2021-05-31 01595475 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-05-31 01595475 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2021-05-31 iso4217:GBP xbrli:pure

Registered number: 01595475










CONARKEN GROUP LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

 
CONARKEN GROUP LIMITED
REGISTERED NUMBER: 01595475

BALANCE SHEET
AS AT 31 MAY 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
809,137
169,205

Current assets
  

Stocks
  
248,330
143,163

Debtors: amounts falling due within one year
 5 
12,023
2,898

Cash at bank and in hand
  
-
59,107

  
260,353
205,168

Creditors: amounts falling due within one year
 6 
(85,501)
(24,341)

Net current assets
  
 
 
174,852
 
 
180,827

Creditors: amounts falling due after more than one year
 7 
(77,187)
(53,707)

Provisions for liabilities
  

Deferred tax
 8 
(98,135)
-

  
 
 
(98,135)
 
 
-

Net assets
  
808,667
296,325


Capital and reserves
  

Called up share capital 
  
100,000
100,000

Profit and loss account
  
708,667
196,325

  
808,667
296,325


Page 1

 
CONARKEN GROUP LIMITED
REGISTERED NUMBER: 01595475
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 September 2022.




D H Griffiths
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CONARKEN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

1.


General information

Conarken Group Limited is a private Company limited by shares, incorporated in England and Wales (Registered number: 01595475). Its registered office is 76 Chartwell Avenue, Wingerworth, Chesterfield, Derbyshire, S42 6SP. The principal activity of the Company throughout the year continued to be that of the selling and hiring of plant.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CONARKEN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The depreciation rates used are:

Freehold property
-
2%
straight line
Plant and machinery
-
20%
straight line
Motor vehicles
-
25%
straight line
Fixtures and fittings
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings. 

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.
At each Balance Sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Income and Retained Earnings.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of Income and Retained Earnings at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Page 4

 
CONARKEN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.7

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

Page 5

 
CONARKEN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost


At 1 June 2021
157,128
75,605
21,654
15,682
270,069


Additions
8,453
2,500
-
5,832
16,785


Disposals
-
(1,000)
(613)
-
(1,613)


Revaluations
594,687
-
-
-
594,687



At 31 May 2022

760,268
77,105
21,041
21,514
879,928



Depreciation


At 1 June 2021
47,358
36,702
5,502
11,302
100,864


Charge for the year on owned assets
205
11,490
375
2,221
14,291


Charge for the year on financed assets
-
-
4,242
-
4,242


Disposals
-
(1,000)
(613)
-
(1,613)


On revalued assets
(46,993)
-
-
-
(46,993)



At 31 May 2022

570
47,192
9,506
13,523
70,791



Net book value



At 31 May 2022
759,698
29,913
11,535
7,991
809,137



At 31 May 2021
109,770
38,903
16,152
4,380
169,205

As at 31st May 2022, there is an outstanding fixed and floating charge on all of the above assets as well as any future assets procured untill the charge is satisfied. 

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2022
2021
£
£



Motor vehicles
9,191
13,433

Page 6

 
CONARKEN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

5.


Debtors

2022
2021
£
£


Trade debtors
1,111
2,746

Other debtors
10,752
-

Prepayments
160
152

12,023
2,898



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
7,182
-

Bank loan
22,500
3,979

Trade creditors
18,628
4,924

Other taxation and social security
-
2,210

Hire purchase contracts
3,416
3,416

Other creditors
25,348
5,525

Accruals
8,427
4,287

85,501
24,341



7.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loan
72,917
46,021

Hire purchase contracts
4,270
7,686

77,187
53,707


Page 7

 
CONARKEN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

8.


Deferred taxation




2022


£






Charged to Statement of Income and Retained Earnings
98,135



At end of year
98,135

The deferred taxation balance is made up as follows:

2022
2021
£
£


Fixed asset timing differences
9,201
-

Tax losses carried forward
(11,584)
-

Gain on revaluation of plant and machinery
100,518
-

98,135
-


9.


Reserves

Profit and loss account

Included in the profit and loss account reserve at 31 May 2022 is a non distributable amount of £641,680.
 

 
Page 8