Registered number
05903811
Charcoal Burner Limited
Filleted Accounts
31 January 2023
Charcoal Burner Limited
Registered number: 05903811
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 29,943 37,585
Tangible assets 4 2,593 4,816
32,536 42,401
Current assets
Stocks 16,568 7,934
Debtors 5 25,730 26,484
Cash at bank and in hand 1,307 1,118
43,605 35,536
Creditors: amounts falling due within one year 6 (362,570) (290,460)
Net current liabilities (318,965) (254,924)
Total assets less current liabilities (286,429) (212,523)
Creditors: amounts falling due after more than one year 7 (77,939) (99,117)
Net liabilities (364,368) (311,640)
Capital and reserves
Called up share capital 2 2
Profit and loss account (364,370) (311,642)
Shareholders' funds (364,368) (311,640)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Waight
Director
Approved by the board on 16 October 2023
Charcoal Burner Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2022 152,852
At 31 January 2023 152,852
Amortisation
At 1 February 2022 115,267
Provided during the year 7,642
At 31 January 2023 122,909
Net book value
At 31 January 2023 29,943
At 31 January 2022 37,585
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022 32,074
At 31 January 2023 32,074
Depreciation
At 1 February 2022 27,258
Charge for the year 2,223
At 31 January 2023 29,481
Net book value
At 31 January 2023 2,593
At 31 January 2022 4,816
5 Debtors 2023 2022
£ £
Trade debtors 21,201 21,955
Other debtors 4,529 4,529
25,730 26,484
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 22,027 14,849
Trade creditors 29,837 32,427
Taxation and social security costs 210,194 185,833
Other creditors 100,512 57,351
362,570 290,460
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 77,939 99,117
8 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 20,280 30,535
Secured bank loans 50,687 60,942
The bank loans are secured on the assets and undertaking of the business.
9 Controlling party
The company considers M Joslin and A Waight to be its controlling parties.
10 Other information
Charcoal Burner Limited is a private company limited by shares and incorporated in England. Its registered office is:
Weald Drive
Furnace Green
Crawley
West Sussex
RH10 6NY
Charcoal Burner Limited 05903811 false 2022-02-01 2023-01-31 2023-01-31 VT Final Accounts October 2023 A Waight No description of principal activity 05903811 2021-02-01 2022-01-31 05903811 core:WithinOneYear 2022-01-31 05903811 core:AfterOneYear 2022-01-31 05903811 core:ShareCapital 2022-01-31 05903811 core:RetainedEarningsAccumulatedLosses 2022-01-31 05903811 2022-02-01 2023-01-31 05903811 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 05903811 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 05903811 bus:Director40 2022-02-01 2023-01-31 05903811 1 2022-02-01 2023-01-31 05903811 2 2022-02-01 2023-01-31 05903811 core:Goodwill 2022-02-01 2023-01-31 05903811 core:PlantMachinery 2022-02-01 2023-01-31 05903811 countries:England 2022-02-01 2023-01-31 05903811 bus:FRS102 2022-02-01 2023-01-31 05903811 bus:FullAccounts 2022-02-01 2023-01-31 05903811 2023-01-31 05903811 core:WithinOneYear 2023-01-31 05903811 core:AfterOneYear 2023-01-31 05903811 core:ShareCapital 2023-01-31 05903811 core:RetainedEarningsAccumulatedLosses 2023-01-31 05903811 core:Goodwill 2023-01-31 05903811 core:PlantMachinery 2023-01-31 05903811 2022-01-31 05903811 core:Goodwill 2022-01-31 05903811 core:PlantMachinery 2022-01-31 iso4217:GBP xbrli:pure