12 31/07/2023 2023-07-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-08-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04256582 2022-08-01 2023-07-31 04256582 2023-07-31 04256582 2022-07-31 04256582 2021-08-01 2022-07-31 04256582 2022-07-31 04256582 core:PlantMachinery 2022-08-01 2023-07-31 04256582 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 04256582 core:MotorVehicles 2022-08-01 2023-07-31 04256582 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 04256582 bus:Director1 2022-08-01 2023-07-31 04256582 core:PlantMachinery 2022-07-31 04256582 core:FurnitureFittingsToolsEquipment 2022-07-31 04256582 core:MotorVehicles 2022-07-31 04256582 core:PlantMachinery 2023-07-31 04256582 core:FurnitureFittingsToolsEquipment 2023-07-31 04256582 core:MotorVehicles 2023-07-31 04256582 core:WithinOneYear 2023-07-31 04256582 core:WithinOneYear 2022-07-31 04256582 core:AfterOneYear 2023-07-31 04256582 core:AfterOneYear 2022-07-31 04256582 core:ShareCapital 2023-07-31 04256582 core:ShareCapital 2022-07-31 04256582 core:RetainedEarningsAccumulatedLosses 2023-07-31 04256582 core:RetainedEarningsAccumulatedLosses 2022-07-31 04256582 bus:OrdinaryShareClass1 core:ShareCapital 2023-07-31 04256582 bus:OrdinaryShareClass1 core:ShareCapital 2022-07-31 04256582 core:PlantMachinery 2022-07-31 04256582 core:FurnitureFittingsToolsEquipment 2022-07-31 04256582 core:MotorVehicles 2022-07-31 04256582 bus:SmallEntities 2022-08-01 2023-07-31 04256582 bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 04256582 bus:FullAccounts 2022-08-01 2023-07-31 04256582 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 04256582 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 04256582 1 2022-08-01 2023-07-31
Company registration number: 04256582
Central (Birmingham) Springs Limited
Unaudited filleted financial statements
31 July 2023
Central (Birmingham) Springs Limited
Contents
Statement of financial position
Notes to the financial statements
Central (Birmingham) Springs Limited
Statement of financial position
31 July 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 204,982 235,727
_______ _______
204,982 235,727
Current assets
Stocks 40,000 55,000
Debtors 6 417,853 337,151
Cash at bank and in hand 5,313 38,914
_______ _______
463,166 431,065
Creditors: amounts falling due
within one year 7 ( 432,409) ( 304,250)
_______ _______
Net current assets 30,757 126,815
_______ _______
Total assets less current liabilities 235,739 362,542
Creditors: amounts falling due
after more than one year 8 ( 19,138) ( 35,019)
Provisions for liabilities - deferred taxation ( 51,246) ( 44,788)
_______ _______
Net assets 165,355 282,735
_______ _______
Capital and reserves
Called up share capital 9 4 4
Profit and loss account 165,351 282,731
_______ _______
Shareholders funds 165,355 282,735
_______ _______
For the year ending 31 July 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 February 2024 , and are signed on behalf of the board by:
Mrs A Pilley
Director
Company registration number: 04256582
Central (Birmingham) Springs Limited
Notes to the financial statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The current address of the registered office is 13 Portland Road, Edgbaston, Birmingham, B16 9HN. The business address is Unit 7D, Waterfall Lane Trading Estate, Cradley Heath, B64 6PU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £1.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are 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 is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % reducing balance
Fittings fixtures and equipment - 20 % reducing balance
Motor vehicles - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Hire purchase and finance leases
Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2022: 14 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 594,762 4,212 10,000 608,974
Additions 500 - 20,000 20,500
_______ _______ _______ _______
At 31 July 2023 595,262 4,212 30,000 629,474
_______ _______ _______ _______
Depreciation
At 1 August 2022 360,119 3,630 9,498 373,247
Charge for the year 47,029 116 4,100 51,245
_______ _______ _______ _______
At 31 July 2023 407,148 3,746 13,598 424,492
_______ _______ _______ _______
Carrying amount
At 31 July 2023 188,114 466 16,402 204,982
_______ _______ _______ _______
At 31 July 2022 234,643 582 502 235,727
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 164,734 335,838
Other debtors 253,119 1,313
_______ _______
417,853 337,151
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loan and overdraft 29,436 9,648
Trade creditors 151,753 144,044
Corporation tax 32,241 36,800
Social security and other taxes 3,086 35,586
Other creditors 215,893 78,172
_______ _______
432,409 304,250
_______ _______
Included in other creditors are hire purchase agreements totalling £5,899 (2022 £10,113), they are secured on the assets to which they relate.
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loan 19,138 29,120
Other creditors - 5,899
_______ _______
19,138 35,019
_______ _______
Included in other creditors are hire purchase agreements totalling £- (2022 £5,899), they are secured on the assets to which they relate.
9. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 4 4 4 4
_______ _______ _______ _______
10. Controlling party
The company is under the control of the directors , who are equal shareholders in the company.