2022-06-01 2023-05-31 06824806 CORNWALL CULLET LIMITED false 06824806 2022-06-01 2023-05-31 06824806 uk-bus:Director1 2022-06-01 2023-05-31 06824806 uk-bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 06824806 uk-bus:SmallEntities 2022-06-01 2023-05-31 06824806 uk-bus:FullAccounts 2022-06-01 2023-05-31 06824806 uk-bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 06824806 2022-06-01 06824806 2023-05-31 06824806 2022-05-31 xbrli:pure iso4217:GBP 06824806 2021-06-01 2022-05-31
Company Registration Number : 06824806 (England and Wales)
06824806
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2023-05-31
false
CORNWALL CULLET LIMITED
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2022-06-01
CORNWALL CULLET LIMITED
Unaudited filleted financial statements
For the year ended 31 May 2023
CORNWALL CULLET LIMITED
Contents
For the year ended 31 May 2023

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Notes to the Financial Statements 5 - 7


CORNWALL CULLET LIMITED
Company Information
For the year ended 31 May 2023

Company registration number 06824806 (England and Wales)
Director Jonathan Lee
Registered office address The Glass Works United Downs Industrial Park
St. Day
Redruth
Cornwall
TR16 5HY
Accountant DNS Accountants Ltd
Chartered Management Accountants
382 Kenton Road
Harrow, Middlesex
United Kingdom
HA3 8DP
CORNWALL CULLET LIMITED
Statement of Financial Position
For the year ended 31 May 2023

2023 2022
Notes £ £
Fixed assets
Intangible assets 53,700 62,650
Property, plant and equipment 684,781 674,617
Investment Property 220,633 220,633
5 959,114 957,900
Current assets
Debtors 2,813 21,579
Corporation tax receivable 1,127 -
Cash and cash equivalents 13,205 36,463
17,144 58,043
Current liabilities
Creditors: Amounts falling due within one year (480,407) (464,610)
Corporation tax payable - (20,498)
(480,407) (485,108)
Net current (liabilities)/assets (463,263) (427,065)
Total assets less current liabilities 495,851 530,835
Non-current liabilities
Provision for liabilities (128,408) (126,164)
Net assets/(liabilities) 367,443 404,671
Capital and reserves
Called up share capital 1 1
Retained earnings 367,442 404,670
Shareholder's funds 367,443 404,671
For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The director acknowledges their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 27 February 2024
.............................
Jonathan Lee (Director)
Company registration number: 06824806
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2023-05-31 31 May 2023
2023 2022
£ £
Fixed Assets 959,114 957,900
Current Assets 14,331 47,694
Prepayments and accrued income 2,813 9,835
Creditors: amounts falling due within one year (480,407) (484,594)
Net current assets (liabilities) (463,263) (427,065)
Total assets less current liabilities 495,851 530,835
Provisions for liabilities (128,408) (126,164)
Net Assets (liabilities) 367,443 404,671
Capital and Reserves 367,443 404,671
For the year ending 31/05/2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. For the year ending 31-05-2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 27 February 2024 2024-02-27 and signed on behalf of the board,
.............................
Jonathan Lee
Director
Company registration number: 06824806
CORNWALL CULLET LIMITED
Notes to the Financial Statements
For the year ended 31 May 2023

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is The Glass Works United Downs Industrial Park, St. Day, Redruth, Cornwall, TR16 5HY.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Rendering of Services
Revenue from provision of services rendered in the reporting period is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.
Borrowing costs
All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill recognised at acquisition is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis over its useful life, which is estimated to be 20 years. Goodwill amortisation is included within administration expenses.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings
Plant and Machinery5% reducing balance
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings25% reducing balance
Equipment25% reducing balance
Motor Cars25% reducing balance
Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred Tax
A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of come and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised 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 liabilities and assets 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.
Employee benefits
Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

(4) Employees
During the year, the average number of employees including director was 6 (2022 : 8).

(5) Fixed assets
Intangible

£
Tangible

£
Investments
Property
£
Totals

£
Cost
As at 01 June 2022179,0001,401,482220,6331,801,115
Additions-59,045-59,045
As at 31 May 2023179,0001,460,527220,6331,860,160
Depreciation/Amortisation
As at 01 June 2022116,350726,865-843,215
For the year8,95048,881-57,831
As at 31 May 2023125,300775,746-901,046
Net book value
As at 31 May 202353,700684,781220,633959,114
As at 31 May 202262,650674,617220,633957,900