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REGISTERED NUMBER: 04722930 (England and Wales)















CARREG CONSTRUCTION LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2023






CARREG CONSTRUCTION LIMITED (REGISTERED NUMBER: 04722930)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CARREG CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2023







DIRECTORS: A M Phillips
A R Morgan
S G Morgan





SECRETARY: A M Phillips





REGISTERED OFFICE: Unit 2 Tangiers
Haverfordwest
Pembrokeshire
SA62 4BU





REGISTERED NUMBER: 04722930 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

CARREG CONSTRUCTION LIMITED (REGISTERED NUMBER: 04722930)

BALANCE SHEET
30TH APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 182,068 209,097

CURRENT ASSETS
Stocks 124,114 105,190
Debtors 5 329,212 392,424
Cash at bank and in hand 347,918 214,348
801,244 711,962
CREDITORS
Amounts falling due within one year 6 516,544 342,374
NET CURRENT ASSETS 284,700 369,588
TOTAL ASSETS LESS CURRENT
LIABILITIES

466,768

578,685

CREDITORS
Amounts falling due after more than one
year

7

(36,936

)

(57,546

)

PROVISIONS FOR LIABILITIES (45,517 ) (39,728 )
NET ASSETS 384,315 481,411

CARREG CONSTRUCTION LIMITED (REGISTERED NUMBER: 04722930)

BALANCE SHEET - continued
30TH APRIL 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 384,115 481,211
SHAREHOLDERS' FUNDS 384,315 481,411

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2nd November 2023 and were signed on its behalf by:





A M Phillips - Director


CARREG CONSTRUCTION LIMITED (REGISTERED NUMBER: 04722930)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023

1. STATUTORY INFORMATION

Carreg Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


CARREG CONSTRUCTION LIMITED (REGISTERED NUMBER: 04722930)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 16 ) .

CARREG CONSTRUCTION LIMITED (REGISTERED NUMBER: 04722930)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st May 2022 521,783 24,244 90,650 41,873 678,550
Additions 51,874 - - 3,456 55,330
Disposals (241,096 ) (12,654 ) - (15,037 ) (268,787 )
At 30th April 2023 332,561 11,590 90,650 30,292 465,093
DEPRECIATION
At 1st May 2022 370,118 18,242 54,840 26,253 469,453
Charge for year 47,277 403 8,952 3,249 59,881
Eliminated on disposal (226,666 ) (10,684 ) - (8,959 ) (246,309 )
At 30th April 2023 190,729 7,961 63,792 20,543 283,025
NET BOOK VALUE
At 30th April 2023 141,832 3,629 26,858 9,749 182,068
At 30th April 2022 151,665 6,002 35,810 15,620 209,097

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1st May 2022
and 30th April 2023 159,940
DEPRECIATION
At 1st May 2022 49,829
Charge for year 27,528
At 30th April 2023 77,357
NET BOOK VALUE
At 30th April 2023 82,583
At 30th April 2022 110,111

CARREG CONSTRUCTION LIMITED (REGISTERED NUMBER: 04722930)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 295,600 189,816
Amounts owed by group undertakings - 168,380
VAT 14,725 29,311
Prepayments 18,887 4,917
329,212 392,424

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 20,610 20,610
Trade creditors 226,000 225,841
Amounts owed to group undertakings 4,565 -
Corporation tax 37,302 3,981
Social security and other taxes 11,890 8,233
Other creditors 216,177 64,468
Directors' current accounts - 19,241
516,544 342,374

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts 36,936 57,546

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary £1 200 200

CARREG CONSTRUCTION LIMITED (REGISTERED NUMBER: 04722930)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

9. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

The terms of the agreement between the Carreg Construction Employee Ownership Trust ("the Trust") and Mr A & Mrs S Phillips to buy 100% of the shares in Trearched Holding Limited included both a completion payment and a deferred consideration which is payable in instalments until May 2030.

In order that the Trust should have the funds to pay the deferred consideration, Trearched Holdings Limited intends to make contributions to the Trust over this same period, subject always to there being distributable reserves available within the company.

The deferred consideration has been secured by way of a debenture containing fixed and floating charges and a negative pledge over all of the assets and liabilities in the company and its parent, Trearched Holdings Limited, with the company acting as guarantor.

10. RELATED PARTY DISCLOSURES

At the year end there was a balance of £Nil (2022 - £19,241) owed to A M Phillips, a director or the company.

11. ULTIMATE CONTROLLING PARTY

Trearched Holdings Limited, a company registered in England and Wales, owns 100% of the share capital of the company. Carreg Construction Employee Ownership Trust is the beneficial owner of the shares in Trearched Holdings Limited.