Austins Cradles (Eastbourne) Limited 01631936 false 2021-04-01 2022-03-31 2022-03-31 The principal activity of the company is erection of scaffolding and cradles Digita Accounts Production Advanced 6.30.9574.0 true 01631936 2021-04-01 2022-03-31 01631936 2022-03-31 01631936 bus:OrdinaryShareClass1 2022-03-31 01631936 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-03-31 01631936 core:CurrentFinancialInstruments 2022-03-31 01631936 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 01631936 core:FurnitureFittingsToolsEquipment 2022-03-31 01631936 core:MotorVehicles 2022-03-31 01631936 core:OtherPropertyPlantEquipment 2022-03-31 01631936 core:ParentEntities 2022-03-31 01631936 bus:SmallEntities 2021-04-01 2022-03-31 01631936 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 01631936 bus:FullAccounts 2021-04-01 2022-03-31 01631936 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 01631936 bus:RegisteredOffice 2021-04-01 2022-03-31 01631936 bus:Director1 2021-04-01 2022-03-31 01631936 bus:Director7 2021-04-01 2022-03-31 01631936 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 01631936 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 01631936 core:FurnitureFittings 2021-04-01 2022-03-31 01631936 core:FurnitureFittingsToolsEquipment 2021-04-01 2022-03-31 01631936 core:MotorVehicles 2021-04-01 2022-03-31 01631936 core:OtherPropertyPlantEquipment 2021-04-01 2022-03-31 01631936 core:PlantMachinery 2021-04-01 2022-03-31 01631936 core:Vehicles 2021-04-01 2022-03-31 01631936 core:ParentEntities 2021-04-01 2022-03-31 01631936 countries:AllCountries 2021-04-01 2022-03-31 01631936 2021-03-31 01631936 core:FurnitureFittingsToolsEquipment 2021-03-31 01631936 core:MotorVehicles 2021-03-31 01631936 core:OtherPropertyPlantEquipment 2021-03-31 01631936 core:ParentEntities 2021-03-31 01631936 2020-04-01 2021-03-31 01631936 2021-03-31 01631936 bus:OrdinaryShareClass1 2021-03-31 01631936 core:HirePurchaseContracts core:CurrentFinancialInstruments 2021-03-31 01631936 core:CurrentFinancialInstruments 2021-03-31 01631936 core:CurrentFinancialInstruments core:WithinOneYear 2021-03-31 01631936 core:FurnitureFittingsToolsEquipment 2021-03-31 01631936 core:MotorVehicles 2021-03-31 01631936 core:OtherPropertyPlantEquipment 2021-03-31 01631936 core:ParentEntities 2021-03-31 01631936 core:ParentEntities 2020-04-01 2021-03-31 01631936 2020-03-31 01631936 core:ParentEntities 2020-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01631936

Austins Cradles (Eastbourne) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Austins Cradles (Eastbourne) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Austins Cradles (Eastbourne) Limited

Company Information

Directors

D Rowsell

G R M Austin

Registered office

Hammonds Drive Industrial Estate
Eastbourne
East Sussex
BN23 6PW

Accountants

Chisnall Comer Ismail & Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

Austins Cradles (Eastbourne) Limited

(Registration number: 01631936)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

46,944

42,283

Current assets

 

Debtors

5

353,909

271,802

Cash at bank and in hand

 

406,956

454,844

 

760,865

726,646

Creditors: Amounts falling due within one year

6

(364,725)

(310,942)

Net current assets

 

396,140

415,704

Total assets less current liabilities

 

443,084

457,987

Provisions for liabilities

(7,592)

(6,621)

Net assets

 

435,492

451,366

Capital and reserves

 

Called up share capital

9

100

100

Profit and loss account

435,392

451,266

Shareholders' funds

 

435,492

451,366

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Austins Cradles (Eastbourne) Limited

(Registration number: 01631936)
Balance Sheet as at 31 March 2022

Approved and authorised by the Board on 14 September 2022 and signed on its behalf by:



 

.........................................

D Rowsell

Director

 

Austins Cradles (Eastbourne) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

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

The address of its registered office is:
Hammonds Drive Industrial Estate
Eastbourne
East Sussex
BN23 6PW

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.

Revenue recognition

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

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.

Tax

The tax expense for the period comprises current and deferred 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 income 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.

 

Austins Cradles (Eastbourne) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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 and machinery

10% Reducing balance

Furniture and fittings

10% Reducing balance

Vehicles

25% Reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Austins Cradles (Eastbourne) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 27 (2021 - 27).

 

Austins Cradles (Eastbourne) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2021

25,350

104,098

48,638

178,086

Additions

1,755

15,827

-

17,582

Disposals

-

(4,999)

-

(4,999)

At 31 March 2022

27,105

114,926

48,638

190,669

Depreciation

At 1 April 2021

20,138

68,137

47,528

135,803

Charge for the year

1,337

10,237

111

11,685

Eliminated on disposal

-

(3,763)

-

(3,763)

At 31 March 2022

21,475

74,611

47,639

143,725

Carrying amount

At 31 March 2022

5,630

40,315

999

46,944

At 31 March 2021

5,212

35,961

1,110

42,283

5

Debtors

2022
£

2021
£

Trade debtors

330,852

253,346

Prepayments

23,057

18,233

Other debtors

-

223

353,909

271,802

6

Creditors

Creditors: amounts falling due within one year

 

Austins Cradles (Eastbourne) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

7

4,925

9,471

Trade creditors

 

21,888

13,015

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

180,506

53,340

Taxation and social security

 

130,528

214,410

Accruals and deferred income

 

6,695

6,695

Other creditors

 

20,183

14,011

 

364,725

310,942

7

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Hire purchase contracts

4,925

9,471

8

Related party transactions

Summary of transactions with parent

Loans to related parties

2022

Parent
£

Total
£

At start of period

(53,340)

(53,340)

Advanced

147,150

147,150

Repaid

(274,316)

(274,316)

At end of period

(180,506)

(180,506)

2021

Parent
£

Total
£

At start of period

25,160

25,160

Advanced

121,500

121,500

Repaid

(200,000)

(200,000)

At end of period

(53,340)

(53,340)

9

Share capital

Allotted, called up and fully paid shares

 

Austins Cradles (Eastbourne) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100