Registered number
08484080
Cheshire Contracting Ltd
Filleted Abridged Accounts
31 March 2023
Aspect Accounting Ltd
47 Knowsley Street
Bury
Lancashire
BL9 0ST
Cheshire Contracting Ltd
Registered number: 08484080
Abridged Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 51,320 52,537
Current assets
Stocks 81,000 51,100
Debtors 118,374 49,859
Cash at bank and in hand 45,989 121,511
245,363 222,470
Creditors: amounts falling due within one year (97,875) (136,900)
Net current assets 147,488 85,570
Total assets less current liabilities 198,808 138,107
Creditors: amounts falling due after more than one year (31,667) (41,667)
Provisions for liabilities (10,900) (10,430)
Net assets 156,241 86,010
Capital and reserves
Called up share capital 100 100
Profit and loss account 156,141 85,910
Shareholders' funds 156,241 86,010
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Mr A Laycock
Director
Approved by the board on 7 September 2023
Cheshire Contracting Ltd
Notes to the Abridged Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% Reducing balance
Plant and machinery 25% Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Total
£
Cost
At 1 April 2022 121,610
Additions 15,889
At 31 March 2023 137,499
Depreciation
At 1 April 2022 69,073
Charge for the year 17,106
At 31 March 2023 86,179
Net book value
At 31 March 2023 51,320
At 31 March 2022 52,537
4 Other information
Cheshire Contracting Ltd is a private company limited by shares and incorporated in England. Its registered office is:
47 Knowsley Street
Bury
Lancashire
United Kingdom
BL9 0ST
Cheshire Contracting Ltd 08484080 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 Mr A Laycock No description of principal activity 08484080 2021-04-01 2022-03-31 08484080 core:WithinOneYear 2022-03-31 08484080 core:AfterOneYear 2022-03-31 08484080 core:ShareCapital 2022-03-31 08484080 core:RetainedEarningsAccumulatedLosses 2022-03-31 08484080 2022-04-01 2023-03-31 08484080 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08484080 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08484080 bus:Director40 2022-04-01 2023-03-31 08484080 1 2022-04-01 2023-03-31 08484080 2 2022-04-01 2023-03-31 08484080 countries:England 2022-04-01 2023-03-31 08484080 bus:FRS102 2022-04-01 2023-03-31 08484080 bus:AbridgedAccounts 2022-04-01 2023-03-31 08484080 2023-03-31 08484080 core:WithinOneYear 2023-03-31 08484080 core:AfterOneYear 2023-03-31 08484080 core:ShareCapital 2023-03-31 08484080 core:RetainedEarningsAccumulatedLosses 2023-03-31 08484080 2022-03-31 iso4217:GBP xbrli:pure