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Company registration number: 05521629
C&G Builders (Llanrug) Limited
Unaudited filleted financial statements
31 December 2021
C&G Builders (Llanrug) Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
C&G Builders (Llanrug) Limited
Directors and other information
Director Mr Colin Griffith
Secretary Gilian Griffith
Company number 05521629
Registered office Tyddyn Garreg
Llanrug
Caernarfon
Gwynedd
LL55 4BD
Business address Tyddyn Garreg
Llanrug
Caernarfon
Gwynedd
LL55 4BD
Accountants W J Matthews & Son
11-15 Bridge Street
Caernarfon
Gwynedd
LL55 1AB
C&G Builders (Llanrug) Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of C&G Builders (Llanrug) Limited
Year ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of C&G Builders (Llanrug) Limited for the year ended 31 December 2021 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of C&G Builders (Llanrug) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of C&G Builders (Llanrug) Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C&G Builders (Llanrug) Limited and its director as a body for our work or for this report.
It is your duty to ensure that C&G Builders (Llanrug) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of C&G Builders (Llanrug) Limited. You consider that C&G Builders (Llanrug) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of C&G Builders (Llanrug) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
W J Matthews & Son
Chartered Accountants
11-15 Bridge Street
Caernarfon
Gwynedd
LL55 1AB
16 September 2022
C&G Builders (Llanrug) Limited
Statement of financial position
31 December 2021
2021 2020
Note £ £ £ £
Current assets
Stocks 282,000 483,115
Debtors 5 5,475 8,310
Cash at bank and in hand 680,646 258,277
_______ _______
968,121 749,702
Creditors: amounts falling due
within one year 6 ( 62,988) ( 66,345)
_______ _______
Net current assets 905,133 683,357
_______ _______
Total assets less current liabilities 905,133 683,357
_______ _______
Net assets 905,133 683,357
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 905,131 683,355
_______ _______
Shareholders funds 905,133 683,357
_______ _______
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 September 2022 , and are signed on behalf of the board by:
Mr Colin Griffith
Director
Company registration number: 05521629
C&G Builders (Llanrug) Limited
Notes to the financial statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C Builders (Llanrug) Limited, Tyddyn Garreg, Llanrug, Caernarfon, Gwynedd, LL55 4BD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at 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 to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 January 2021 and 31 December 2021 4,284 4,284
_______ _______
Depreciation
At 1 January 2021 and 31 December 2021 4,284 4,284
_______ _______
Carrying amount
At 31 December 2021 - -
_______ _______
At 31 December 2020 - -
_______ _______
5. Debtors
2021 2020
£ £
Other debtors 5,475 8,310
_______ _______
6. Creditors: amounts falling due within one year
2021 2020
£ £
Trade creditors 1,145 14,744
Corporation tax 52,021 47,441
Other creditors 9,822 4,160
_______ _______
62,988 66,345
_______ _______
7. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2021
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Colin Griffith ( 2,007) ( 3,946) ( 5,953)
_______ _______ _______
2020
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Colin Griffith ( 1,060) ( 947) ( 2,007)
_______ _______ _______
8. Controlling party
The company is wholly owned and controlled by the directors .