Company registration number 10937416 (England and Wales)
C & S VAUGHAN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
C & S VAUGHAN LIMITED
COMPANY INFORMATION
Directors
Mr C Vaughan
Mrs S Vaughan
Company number
10937416
Registered office
C/O Bishops Chartered Accountants
Phoenix Park
Blakewater Road
Blackburn
Lancashire
United Kingdom
BB1 5BG
Accountants
Bishops
1 Croft Court
Plumpton Close
Whitehills Business Park
Blackpool
Lancashire
FY4 5PR
C & S VAUGHAN LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 6
C & S VAUGHAN LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF C & S VAUGHAN LIMITED FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

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 & S Vaughan Limited for the year ended 31 March 2023 which comprise, the statement of financial position and the 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 https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of C & S Vaughan 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 & S Vaughan Limited and state those matters that we have agreed to state to the Board of Directors of C & S Vaughan Limited, 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 & S Vaughan Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that C & S Vaughan 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 & S Vaughan Limited. You consider that C & S Vaughan 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 & S Vaughan 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.

Bishops
3 November 2023
Chartered Accountants
1 Croft Court
Plumpton Close
Whitehills Business Park
Blackpool
Lancashire
FY4 5PR
C & S VAUGHAN LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
6,112
1,350
Investment property
5
1,088,804
1,088,804
Investments
6
300
300
1,095,216
1,090,454
Current assets
Debtors
7
12,000
-
0
Investments
8
603,131
603,131
Cash at bank and in hand
67,462
154,401
682,593
757,532
Creditors: amounts falling due within one year
9
(398,020)
(427,715)
Net current assets
284,573
329,817
Total assets less current liabilities
1,379,789
1,420,271
Creditors: amounts falling due after more than one year
10
(362,428)
(412,500)
Net assets
1,017,361
1,007,771
Capital and reserves
Called up share capital
400
400
Revaluation reserve
11
3,131
3,131
Profit and loss reserves
1,013,830
1,004,240
Total equity
1,017,361
1,007,771

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

C & S VAUGHAN LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 3 November 2023 and are signed on its behalf by:
Mr C Vaughan
Director
Company registration number 10937416 (England and Wales)
C & S VAUGHAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
1
Accounting policies
Company information

C & S Vaughan Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Bishops Chartered Accountants, Phoenix Park, Blakewater Road, Blackburn, Lancashire, United Kingdom, BB1 5BG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

C & S VAUGHAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
3,200
Additions
6,800
At 31 March 2023
10,000
Depreciation and impairment
At 1 April 2022
1,850
Depreciation charged in the year
2,038
At 31 March 2023
3,888
Carrying amount
At 31 March 2023
6,112
At 31 March 2022
1,350
5
Investment property
2023
£
Fair value
At 1 April 2022 and 31 March 2023
1,088,804

 

C & S VAUGHAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
6
Fixed asset investments
2023
2022
£
£
Other investments other than loans
300
300
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
12,000
-
0
8
Current asset investments
2023
2022
£
£
Other investments
603,131
603,131
9
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
398,020
427,715
10
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
362,428
412,500
11
Revaluation reserve
2023
2022
£
£
At the beginning and end of the year
3,131
3,131
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