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F Conisbee & Son Ltd

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2022

Registration number: 8937392

 

F Conisbee & Son Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

F Conisbee & Son Ltd

Balance Sheet

31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Intangible assets

4

180,000

225,000

Tangible assets

5

123,795

126,546

 

303,795

351,546

Current assets

 

Stocks

6

48,442

32,842

Debtors

7

214,376

45,201

Cash at bank and in hand

 

103,904

100,372

 

366,722

178,415

Creditors: Amounts falling due within one year

8

(148,106)

(170,732)

Net current assets

 

218,616

7,683

Total assets less current liabilities

 

522,411

359,229

Provisions for liabilities

(17,298)

(13,486)

Net assets

 

505,113

345,743

Capital and reserves

 

Called up share capital

1,200

1,200

Profit and loss account

503,913

344,543

Shareholders' funds

 

505,113

345,743

 

F Conisbee & Son Ltd

Balance Sheet

31 March 2022

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 September 2022 and signed on its behalf by:
 

.........................................
Mr F N Conisbee
Director

   
     

Company Registration Number: 8937392

 

F Conisbee & Son Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Park Corner
Ockham Road South
East Horsley
Surrey
KT24 6RZ

These financial statements were authorised for issue by the Board on 5 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors of F Conisbee & Son Ltd have considered the impact of Covid – 19.

In the opinion of the directors, the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future and therefore the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

F Conisbee & Son Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

Government grants

Grant income is accounted for using the accruals method. Revenue grants are recognised on a systematic basis over the periods to which the costs to which the grants relate are recognised. Capital grants are recognised over the useful life of the related asset on the same basis as depreciation is charged.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

20% reducing balance

Computer Equipment

Straight line over 3 years

Motor vehicles

25% reducing balance

Property improvements

1% on cost

Intangible assets

Seperately acquired entitlements to agricultural and environmental subsidies are shown at historical cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

BPS Entitlements

Straight line over 10 years

 

F Conisbee & Son Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2021 - 20).

 

F Conisbee & Son Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2021

450,000

450,000

At 31 March 2022

450,000

450,000

Amortisation

At 1 April 2021

225,000

225,000

Amortisation charge

45,000

45,000

At 31 March 2022

270,000

270,000

Carrying amount

At 31 March 2022

180,000

180,000

At 31 March 2021

225,000

225,000

 

F Conisbee & Son Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

5

Tangible assets

Property Improvements
£

Computer Equipment
£

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 April 2021

51,380

7,349

48,222

100,725

207,676

Additions

-

4,335

-

13,681

18,016

At 31 March 2022

51,380

11,684

48,222

114,406

225,692

Depreciation

At 1 April 2021

3,356

3,404

19,602

54,768

81,130

Charge for the year

513

2,199

7,154

10,901

20,767

At 31 March 2022

3,869

5,603

26,756

65,669

101,897

Carrying amount

At 31 March 2022

47,511

6,081

21,466

48,737

123,795

At 31 March 2021

48,024

3,945

28,620

45,957

126,546

 

F Conisbee & Son Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

6

Stocks

2022
£

2021
£

Other inventories

48,442

32,842

7

Debtors

2022
£

2021
£

Trade debtors

48,893

29,811

Prepayments

14,882

5,024

Other debtors

150,601

10,366

214,376

45,201

8

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

36,079

48,342

Corporation tax

55,212

43,629

Taxation and social security

14,378

19,828

Other creditors

36,830

53,489

Accruals and deferred income

5,607

5,444

148,106

170,732

9

Related party transactions

Loans to related parties

2022

Key management
£

Total
£

At start of period

(20,065)

(20,065)

Advanced

238,557

238,557

Repaid

(82,258)

(82,258)

Interest transactions

1,642

1,642

At end of period

137,876

137,876

 

F Conisbee & Son Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

2021

Key management
£

Total
£

At start of period

(184,690)

(184,690)

Advanced

274,330

274,330

Repaid

(109,705)

(109,705)

At end of period

(20,065)

(20,065)

Terms of loans to related parties

During the period the company made advance to its 3 directors which are payable on demand.