IRIS Accounts Production v23.3.0.418 01263413 Board of Directors 1.7.22 30.6.23 30.6.23 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh012634132022-06-30012634132023-06-30012634132022-07-012023-06-30012634132021-06-30012634132021-07-012022-06-30012634132022-06-3001263413ns10:Originalns15:EnglandWales2022-07-012023-06-3001263413ns14:PoundSterlingns10:Original2022-07-012023-06-3001263413ns10:Originalns10:Director12022-07-012023-06-3001263413ns10:Original2022-07-012023-06-3001263413ns10:Original2023-06-3001263413ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3001263413ns10:Originalns10:SmallEntities2022-07-012023-06-3001263413ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3001263413ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3001263413ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3001263413ns10:Originalns10:FullAccounts2022-07-012023-06-3001263413ns10:Originalns10:OrdinaryShareClass12022-07-012023-06-3001263413ns10:Originalns10:Director32022-07-012023-06-3001263413ns10:Originalns10:Director42022-07-012023-06-3001263413ns10:Originalns10:RegisteredOffice2022-07-012023-06-3001263413ns10:Original2022-06-3001263413ns10:Originalns5:CurrentFinancialInstruments2023-06-3001263413ns10:Originalns5:CurrentFinancialInstruments2022-06-3001263413ns5:ShareCapitalns10:Original2023-06-3001263413ns5:ShareCapitalns10:Original2022-06-3001263413ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2023-06-3001263413ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-06-3001263413ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3001263413ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3001263413ns10:Originalns5:PlantMachinery2022-07-012023-06-3001263413ns10:Originalns5:MotorVehicles2022-07-012023-06-3001263413ns10:Originalns5:ComputerEquipment2022-07-012023-06-3001263413ns10:Original2021-07-012022-06-3001263413ns10:Originalns5:PlantMachinery2022-06-3001263413ns10:Originalns5:MotorVehicles2022-06-3001263413ns10:Originalns5:ComputerEquipment2022-06-3001263413ns10:Original2022-06-3001263413ns10:Originalns5:PlantMachinery2023-06-3001263413ns10:Originalns5:MotorVehicles2023-06-3001263413ns10:Originalns5:ComputerEquipment2023-06-3001263413ns10:Originalns5:PlantMachinery2022-06-3001263413ns10:Originalns5:MotorVehicles2022-06-3001263413ns10:Originalns5:ComputerEquipment2022-06-3001263413ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3001263413ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3001263413ns10:Originalns10:OrdinaryShareClass12023-06-3001263413ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3001263413ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-06-3001263413ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-012023-06-30
REGISTERED NUMBER: 01263413 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Croston Engineering Limited

Croston Engineering Limited (Registered number: 01263413)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Croston Engineering Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mr R P Croston
Mr N E Croston
Mr A Leyland





REGISTERED OFFICE: Tarvin Mill
Barrow Lane
Tarvin
Chester
Cheshire
CH3 8JF





REGISTERED NUMBER: 01263413 (England and Wales)





ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

Croston Engineering Limited (Registered number: 01263413)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,108 24,526
Investment property 5 - 245,000
16,108 269,526

CURRENT ASSETS
Stocks 6 51,117 51,117
Debtors 7 223,682 123,528
Cash at bank and in hand 223,588 672,799
498,387 847,444
CREDITORS
Amounts falling due within one year 8 164,070 162,483
NET CURRENT ASSETS 334,317 684,961
TOTAL ASSETS LESS CURRENT
LIABILITIES

350,425

954,487

CAPITAL AND RESERVES
Called up share capital 9 15,000 15,000
Fair value reserve 10 - 116,000
Retained earnings 10 335,425 823,487
SHAREHOLDERS' FUNDS 350,425 954,487

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Croston Engineering Limited (Registered number: 01263413)

Balance Sheet - continued
30 June 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:





Mr R P Croston - Director


Croston Engineering Limited (Registered number: 01263413)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Croston Engineering 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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling, which is the functional currency of the company, rounded to the nearest £1.

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.
Plant and machinery - 20% and 33.3% Straight Line
Motor vehicles - 25% on cost
Computer equipment - 20% and 33.3% Straight Line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

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 10 (2022 - 10 ) .

Croston Engineering Limited (Registered number: 01263413)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 168,513 85,122 10,442 264,077
Disposals - (13,380 ) - (13,380 )
At 30 June 2023 168,513 71,742 10,442 250,697
DEPRECIATION
At 1 July 2022 156,513 78,461 4,577 239,551
Charge for year 3,000 3,330 2,088 8,418
Eliminated on disposal - (13,380 ) - (13,380 )
At 30 June 2023 159,513 68,411 6,665 234,589
NET BOOK VALUE
At 30 June 2023 9,000 3,331 3,777 16,108
At 30 June 2022 12,000 6,661 5,865 24,526

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 245,000
Disposals (300,000 )
Revaluations 55,000
At 30 June 2023 -
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 245,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2022 116,000
Valuation in 2023 55,000
Valuation in 2023 (300,000 )
Cost 129,000

6. STOCKS
30.6.23 30.6.22
£    £   
Work-in-progress 51,117 51,117

Croston Engineering Limited (Registered number: 01263413)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 208,050 107,896
Other debtors 15,632 15,632
223,682 123,528

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Payments on account 29,463 29,463
Trade creditors 77,789 83,067
Taxation and social security 50,142 43,277
Other creditors 6,676 6,676
164,070 162,483

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
15,000 Ordinary £1 15,000 15,000

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 July 2022 823,487 116,000 939,487
Deficit for the year (359,062 ) (359,062 )
Tfr from revaluation reserve - 55,000 55,000
Revaluation - (171,000 ) (171,000 )
Re-organisation (129,000 ) - (129,000 )
At 30 June 2023 335,425 - 335,425

On 20 January 2023 a company re-organisation was completed with the investment property being transferred to an investment company.

11. RELATED PARTY DISCLOSURES

On 8 February 2023 the entire issued ordinary share capital of the company was acquired by Croston Engineering (EOT) Limited as the Trustee of the Croston Engineering Employee Ownership Trust. On that date, the company made gifts totalling £329,000 (2022: £NIL) to the Employee Ownership Trust.
RP Croston and N P Croston are among the directors of that company.