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Registration number: 06845267

CambridgeHOK Construction Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2022

 

CambridgeHOK Construction Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

CambridgeHOK Construction Limited

(Registration number: 06845267)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

3,574

3,201

Current assets

 

Debtors

5

2,726,509

904,056

Cash at bank and in hand

 

184,028

900,695

 

2,910,537

1,804,751

Creditors: Amounts falling due within one year

6

(1,335,693)

(645,767)

Net current assets

 

1,574,844

1,158,984

Total assets less current liabilities

 

1,578,418

1,162,185

Creditors: Amounts falling due after more than one year

6

(27,081)

(37,081)

Provisions for liabilities

(894)

(800)

Net assets

 

1,550,443

1,124,304

Capital and reserves

 

Called up share capital

750

750

Profit and loss account

1,549,693

1,123,554

Total equity

 

1,550,443

1,124,304

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.

Approved and authorised by the Board on 31 March 2023 and signed on its behalf by:
 

.........................................
L A Bradley
Director

.........................................
P J Harte
Director

 

CambridgeHOK Construction Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital incorporated in United Kingdom and the company registration number is 06845267.

The address of its registered office is:
Unit 7 Wallingfen Business Park
236 Main Road
Newport
Brough
East Yorkshire
HU15 2RH

These financial statements were authorised for issue by the Board on 31 March 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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. The financial statements cover an individual entity and not that of a Group.

The financial statements are presented in sterling which is the functional currency of the company and have been rounded to the nearest pound.

Auditors report
The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 31 March 2023 was Kevin Hopper BFP FCA, who signed for and on behalf of Forrester Boyd.

Reclassification of comparative amounts

Amounts owed by and due to related parties for the year ended 31st December 2021 have been reclassified to net against one another and are now only disclosed as debtors for the comparative period.

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.

Contract revenue recognition

In the case of long term contracts, where the outcome of individual contracts can be estimated reliably and it is probable that the contract will be profitable, revenue and costs are recognised by reference to the stage of completion of the contract at the reporting date. The stage of completion is assessed by reference to the proportion of work done relative to the total value of the work under the contract. Provision is made for all known expected losses on individual contracts in the year where such losses are foreseen.

 

CambridgeHOK Construction Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in Profit or Loss Account and Statement of Retained Earnings, 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 represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only 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 tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using rates and allowances that apply to the sale of the asset.

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

Office equipment

25% straight line

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 and Statement of Retained Earnings 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.

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.

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.

 

CambridgeHOK Construction Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 13 (2021 - 11).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 January 2022

20,571

20,571

Additions

2,948

2,948

At 31 December 2022

23,519

23,519

Depreciation

At 1 January 2022

17,370

17,370

Charge for the year

2,575

2,575

At 31 December 2022

19,945

19,945

Carrying amount

At 31 December 2022

3,574

3,574

At 31 December 2021

3,201

3,201

5

Debtors

Note

2022
£

2021
£

Trade debtors

 

39,391

337,632

Amounts owed by related parties

10

2,282,252

500,000

Prepayments

 

3,725

9,077

Other debtors

 

26,589

21,768

Gross amount due from customers for contract work

 

374,552

35,579

   

2,726,509

904,056

 

CambridgeHOK Construction Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

6

Creditors

2022
£

2021
£

Due within one year

Bank loans and overdrafts

9,586

9,586

Trade creditors

629,695

198,359

Taxation and social security

74,022

18,359

Other creditors

20,209

208,133

Accruals and deferred income

515,111

147,901

Gross amount due to customers for contract work

87,070

63,429

1,335,693

645,767

Due after one year

Loans and borrowings

27,081

37,081

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £0.01 each

75,000

750

75,000

750

         

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

27,081

37,081

2022
£

2021
£

Current loans and borrowings

Bank borrowings

9,586

9,586

Other borrowings

-

145,210

9,586

154,796

Bank borrowings

Bounce back loan denominated in sterling and the final instalment is due on 30 August 2026. The carrying amount at year end is £36,667 (2021 - £46,667).

9

Financial commitments, guarantees and contingencies

The company is part of an unlimited cross guarantee arrangement in respect to amounts owed to the bank by Atrium Agri B.V. and fellow group companies.

 

CambridgeHOK Construction Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

10

Related party transactions

The directors are remunerated for thier management of the Group as a whole through a fellow group company, Cambridge Glasshouse Company Limited.

The company has taken advantage of the exemption in section 33 of FRS 102 'Related Party Disclosures' from disclosing transactions with other members of the group in which any subsidiary which is a party to the transaction is wholly owned by the group.

11

Parent and ultimate parent undertaking

The ultimate holding company is Atrium Agri B.V., incorporated in the Netherlands. The company's immediate parent is Cambridge Group Holding Limited, incorporated in the United Kingdom.

The most senior parent entity producing publicly available financial statements is Cambridge Group Holding Limited. These financial statements are available upon request from the registered office of the Company, which is the same as the Parent Company and is listed on page 1.