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REGISTERED NUMBER: 10569101 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Cattle's Specialist Woodwork Ltd

Cattle's Specialist Woodwork Ltd (Registered number: 10569101)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cattle's Specialist Woodwork Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: T J Cattle
Dr S M Cattle





SECRETARY: T J Cattle





REGISTERED OFFICE: 6 High Street
Wheathampstead
Hertfordshire
AL4 8AA





REGISTERED NUMBER: 10569101 (England and Wales)





ACCOUNTANTS: Fenlon & Co
Chartered Certified Accountants
6 High Street
Wheathampstead
Hertfordshire
AL4 8AA

Cattle's Specialist Woodwork Ltd (Registered number: 10569101)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 2,000
Tangible assets 5 96,940 103,766
96,941 105,766

CURRENT ASSETS
Stocks 38,706 40,009
Debtors 6 341,580 291,436
Cash at bank 11,512 20,793
391,798 352,238
CREDITORS
Amounts falling due within one year 7 537,480 523,795
NET CURRENT LIABILITIES (145,682 ) (171,557 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(48,741

)

(65,791

)

CREDITORS
Amounts falling due after more than
one year

8

60,740

106,864
NET LIABILITIES (109,481 ) (172,655 )

CAPITAL AND RESERVES
Called up share capital 9 75 75
Retained earnings (109,556 ) (172,730 )
SHAREHOLDERS' FUNDS (109,481 ) (172,655 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Cattle's Specialist Woodwork Ltd (Registered number: 10569101)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2023 and were signed on its behalf by:





Dr S M Cattle - Director


Cattle's Specialist Woodwork Ltd (Registered number: 10569101)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Cattles Specialist Woodwork Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Rivermill House, 6 High Street, Wheathampstead, Herts, AL4 8AA.

The financial statements are presented in Sterling, which is the functional currency of the company.

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.

The Accounts show net current liabilities of £145,682 (2022 : £171,557). The directors believe that the company has adequate resources to continue in operation for the foreseeable future and accordingly the annual financial statements have been prepared on a going concern basis. The directors have satisfied themselves that the company can count on the support of its bankers. The directors are not aware of any new material changes that may adversely impact the company.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on a reducing balance basis at the following rates:

Plant12.5%
Office Equipment25%
Motor Vehicles25%

Assets held under finance leases are depreciated in the same way as owned assets.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cattle's Specialist Woodwork Ltd (Registered number: 10569101)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Government grants
Government Grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

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

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis.

Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

Taxation
Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Foreign currencies
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Cattle's Specialist Woodwork Ltd (Registered number: 10569101)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the leases term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Pensions
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 10,000
AMORTISATION
At 1 April 2022 8,000
Charge for year 1,999
At 31 March 2023 9,999
NET BOOK VALUE
At 31 March 2023 1
At 31 March 2022 2,000

Cattle's Specialist Woodwork Ltd (Registered number: 10569101)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 167,407 2,500 1,500 171,407
Additions 6,836 - 865 7,701
Disposals (628 ) - - (628 )
At 31 March 2023 173,615 2,500 2,365 178,480
DEPRECIATION
At 1 April 2022 64,937 1,688 1,016 67,641
Charge for year 13,618 204 337 14,159
Eliminated on disposal (260 ) - - (260 )
At 31 March 2023 78,295 1,892 1,353 81,540
NET BOOK VALUE
At 31 March 2023 95,320 608 1,012 96,940
At 31 March 2022 102,470 812 484 103,766

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 324,363 277,152
Prepayments and accrued income 17,217 14,284
341,580 291,436

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 9,944 9,692
Trade creditors 83,145 105,740
Social Security & Other Taxes 98,843 115,600
HP Creditor - Current 36,181 31,757
Factor Loan 277,401 229,407
Accrued expenses 11,463 8,529
Other Creditors 20,503 23,070
537,480 523,795

Cattle's Specialist Woodwork Ltd (Registered number: 10569101)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans - 2-5 years 22,478 32,421
Hire purchase contracts 38,262 74,443
60,740 106,864

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
75 Ordinary Shares 1 75 75

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for Directors and employees. The assets of the scheme are held separately from those of the Company in an administered fund. At the balance sheet date, unpaid contributions of £1,000 (2022 : £1,190) were due to the fund. They are included in other creditors.

11. OTHER FINANCIAL COMMITMENTS

at 31st March 2023 the company had total commitments under non cancellable operating leases over the remaining life of those leases of £13,042 (2022 : £24,983).