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Registration number: 09989415

Cumberworth Building Products Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Cumberworth Building Products Ltd

Contents

Company Information

1

Director's Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

Cumberworth Building Products Ltd

Company Information





 

Director




 

J Thackra

Registered office





 

Unit 1 Sovereign Business Park
Barnsley Road, Shepley
Huddersfield
West Yorkshire
HD8 8FW

Accountants

D & A Hill
No.18 T8/9 Brooke's Mill
Armitage Bridge
Huddersfield
West Yorkshire
HD4 7NR

 

Cumberworth Building Products Ltd

Director's Report
for the Year Ended 28 February 2023

The director presents his report and the financial statements for the year ended 28 February 2023.

Change of company name

The company changed its name from Cumberworth Building Plastics Ltd to Cumberworth Building Products Ltd effective from 1 March 2023.

Director of the company

The director who held office during the year was as follows:

J Thackra

Principal activity

The principal activity of the company is that of the wholesale of building products.

Small companies provision statement

This report has 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 director on 14 November 2023
 

.........................................
J Thackra
Director

 

Cumberworth Building Products Ltd

(Registration number: 09989415 )
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

102,138

143,256

Other financial assets

5

1,300

-

 

103,438

143,256

Current assets

 

Stocks

6

269,671

202,169

Debtors

7

471,381

232,769

Cash at bank and in hand

 

414,310

51,338

 

1,155,362

486,276

Creditors: Amounts falling due within one year

8

(996,601)

(371,913)

Net current assets

 

158,761

114,363

Total assets less current liabilities

 

262,199

257,619

Creditors: Amounts falling due after more than one year

8

(60,319)

(103,482)

Net assets

 

201,880

154,137

Capital and reserves

 

Called up share capital

9

1

1

Profit and loss account

201,879

154,136

Total equity

 

201,880

154,137

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Cumberworth Building Products Ltd

(Registration number: 09989415 )
Balance Sheet as at 28 February 2023

Approved and authorised by the director on 14 November 2023
 

.........................................
J Thackra
Director

 

Cumberworth Building Products Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company was formerly known as Cumberworth Building Plastics Ltd.

The address of its registered office is:
Unit 1 Sovereign Business Park
Barnsley Road, Shepley
Huddersfield
West Yorkshire
HD8 8FW
England

These financial statements were authorised for issue by the director on 14 November 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.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents the net sales of goods, excluding value added tax.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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 income 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.

 

Cumberworth Building Products Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2023

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

Motor vehicles

25% on cost

Investments

Investments in unlisted shares are included at cost.

Stocks

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

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 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.

 

Cumberworth Building Products Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Cumberworth Building Products Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2022 - 6).

 

Cumberworth Building Products Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2023

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2022

269,675

269,675

Additions

27,020

27,020

Disposals

(19,645)

(19,645)

At 28 February 2023

277,050

277,050

Depreciation

At 1 March 2022

126,419

126,419

Charge for the year

68,138

68,138

Eliminated on disposal

(19,645)

(19,645)

At 28 February 2023

174,912

174,912

Carrying amount

At 28 February 2023

102,138

102,138

At 28 February 2022

143,256

143,256

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

Additions

1,300

1,300

At 28 February 2023

1,300

1,300

Impairment

Carrying amount

At 28 February 2023

1,300

1,300

 

Cumberworth Building Products Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2023

6

Stocks

2023
£

2022
£

Other inventories

269,671

202,169

7

Debtors

Current

2023
£

2022
£

Trade debtors

460,505

220,382

Prepayments

5,876

7,387

Other debtors

5,000

5,000

 

471,381

232,769

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

49,084

49,084

Trade creditors

 

424,180

120,865

Taxation and social security

 

35,823

11,314

Accruals and deferred income

 

750

-

Other creditors

 

486,764

190,650

 

996,601

371,913

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

60,319

103,482

 

Cumberworth Building Products Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2023

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

22,564

32,251

Hire purchase contracts

37,755

71,231

60,319

103,482

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,648

10,648

Hire purchase contracts

38,436

38,436

49,084

49,084