Registered number
10743235
Cullen & Son Site Services Limited
Filleted Accounts
31 May 2023
Cullen & Son Site Services Limited
Registered number: 10743235
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 345,031 187,111
Current assets
Stocks 108,718 56,690
Debtors 4 181,886 169,555
Cash at bank and in hand 8,456 5,200
299,060 231,445
Creditors: amounts falling due within one year 5 (242,157) (202,669)
Net current assets 56,903 28,776
Total assets less current liabilities 401,934 215,887
Creditors: amounts falling due after more than one year 6 (261,277) (83,348)
Net assets 140,657 132,539
Capital and reserves
Called up share capital 100 100
Profit and loss account 140,557 132,439
Shareholder's funds 140,657 132,539
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
L Cullen
Director
Approved by the board on 16 February 2024
Cullen & Son Site Services Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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
Fixtures, fittings, tools and equipment 15% 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.
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 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 117,035 122,185 239,220
Additions 155,587 64,500 220,087
Disposals - (25,500) (25,500)
At 31 May 2023 272,622 161,185 433,807
Depreciation
At 1 June 2022 31,036 21,073 52,109
Charge for the year 19,510 18,220 37,730
On disposals - (1,063) (1,063)
At 31 May 2023 50,546 38,230 88,776
Net book value
At 31 May 2023 222,076 122,955 345,031
At 31 May 2022 85,999 101,112 187,111
4 Debtors 2023 2022
£ £
Trade debtors 45,736 76,118
Other taxes and social security costs 122,869 75,556
Other debtors 13,281 17,881
181,886 169,555
5 Creditors: amounts falling due within one year 2023 2022
£ £
Accruals 1,625 1,800
Bank loans and overdrafts 39,164 21,439
Obligations under finance lease and hire purchase contracts 17,610 -
Trade creditors 92,692 78,139
Other creditors 91,066 101,291
242,157 202,669
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 53,985 41,176
Obligations under finance lease and hire purchase contracts 64,570 -
Other creditors 142,722 42,172
261,277 83,348
7 Other information
Cullen & Son Site Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Office 6
251-255 Church Road
Benfleet
Essex
SS7 4QP
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