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Registration number: 1659142

Creaton Engineering Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 June 2023

 

Creaton Engineering Limited

Company Information

Directors

F C Creaton

W B Creaton

N T Creaton

J V Longstaff

Registered office

6 Merse Road
North Moons Moat
Redditch
Worcs.
B98 9HL

Accountants

Richard Crosby Limited
Chartered Accountants
87 Banbury Road
Southam
Warwickshire
CV47 1HJ

 

Creaton Engineering Limited

(Registration number: 1659142)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

291,239

306,045

Current assets

 

Stocks

19,626

36,640

Debtors

97,199

116,718

Cash at bank and in hand

 

58

57

 

116,883

153,415

Creditors: Amounts falling due within one year

5

(199,949)

(295,688)

Net current liabilities

 

(83,066)

(142,273)

Total assets less current liabilities

 

208,173

163,772

Creditors: Amounts falling due after more than one year

6

(110,833)

(120,833)

Accruals and deferred income

 

(4,124)

-

Net assets

 

93,216

42,939

Capital and reserves

 

Called up share capital

25,000

25,000

Retained earnings

68,216

17,939

Shareholders' funds

 

93,216

42,939

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 17 November 2023 and signed on its behalf by:
 

 

Creaton Engineering Limited

(Registration number: 1659142)
Abridged Balance Sheet as at 30 June 2023

.........................................
F C Creaton
Director

.........................................
J V Longstaff
Director

 

Creaton Engineering Limited

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

1

General information

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

The address of its registered office is:
6 Merse Road
North Moons Moat
Redditch
Worcs.
B98 9HL
England

These financial statements were authorised for issue by the Board on 17 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 abridged 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 abridged financial statements have been prepared using the historical cost convention and on the going concern basis, which the directors consider to be appropriate for the company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

Government grants

Government grants, receivable in relation to expenditure, are accounted for on an accruals basis and recognised in income when the relevant expenditure is charged.

Other grants

Grants receivable in respect of tangible assets are deferred and released to income over the lives of the relevant assets.

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

Land and buildings

Straight line over 40 years

 

Creaton Engineering Limited

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

Plant and machinery etc.

25% and 15% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Defined contribution pension obligation

The company operates defined contribution schemes for staff and directors.

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2022 - 10).

 

Creaton Engineering Limited

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

4

Tangible assets

Land and buildings
£

Plant, machinery and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

344,715

1,659,451

2,004,166

Additions

-

15,635

15,635

At 30 June 2023

344,715

1,675,086

2,019,801

Depreciation

At 1 July 2022

168,841

1,529,280

1,698,121

Charge for the year

8,680

21,761

30,441

At 30 June 2023

177,521

1,551,041

1,728,562

Carrying amount

At 30 June 2023

167,194

124,045

291,239

At 30 June 2022

175,874

130,171

306,045

Included within the net book value of land and buildings above is £167,194 (2022 - £175,874) in respect of long leasehold land and buildings.
 

5

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts which are secured of £14,892 (2022 - £87,717).

Banking facilities are secured on the company's assets.

6

Creditors: amounts falling due after more than one year

Long term creditors include financing under the Government's Covid 19 loan schemes of £20,833 (2022 - £30,833).

7

Related party transactions

The directors, who control the company, are providing finance to the company of £252,000 of which £90,000 is on a long term basis.