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REGISTERED NUMBER: 04042125 (England and Wales)
















Financial Statements

for the Year Ended 31 August 2023

for

Cyril Austin & Sons Ltd

Cyril Austin & Sons Ltd (Registered number: 04042125)

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










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Cyril Austin & Sons Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTOR: N C Risby





SECRETARY: N C Risby





REGISTERED OFFICE: 701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT





REGISTERED NUMBER: 04042125 (England and Wales)





ACCOUNTANTS: GCSD Accountants Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT

Cyril Austin & Sons Ltd

Report of the Accountants to the Director of
Cyril Austin & Sons Ltd


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit. You consider that the Company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






GCSD Accountants Limited


20 February 2024

Cyril Austin & Sons Ltd (Registered number: 04042125)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 87,106 90,467
87,106 90,467

CURRENT ASSETS
Stocks 425,253 337,174
Debtors 6 93,804 120,300
Cash at bank and in hand 68,328 103,822
587,385 561,296
CREDITORS
Amounts falling due within one year 7 283,045 288,020
NET CURRENT ASSETS 304,340 273,276
TOTAL ASSETS LESS CURRENT
LIABILITIES

391,446

363,743

PROVISIONS FOR LIABILITIES 19,014 14,436
NET ASSETS 372,432 349,307

Cyril Austin & Sons Ltd (Registered number: 04042125)

Balance Sheet - continued
31 August 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 372,342 349,217
SHAREHOLDERS' FUNDS 372,432 349,307

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 February 2024 and were signed by:





N C Risby - Director


Cyril Austin & Sons Ltd (Registered number: 04042125)

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


1. STATUTORY INFORMATION

Cyril Austin & Sons Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Cyril Austin & Sons Ltd (Registered number: 04042125)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 79,085
AMORTISATION
At 1 September 2022
and 31 August 2023 79,085
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

Cyril Austin & Sons Ltd (Registered number: 04042125)

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


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2022 63,147 81,207 35,463
Additions 5,613 8,460 1,041
At 31 August 2023 68,760 89,667 36,504
DEPRECIATION
At 1 September 2022 29,373 61,911 30,232
Charge for year 6,876 4,163 941
At 31 August 2023 36,249 66,074 31,173
NET BOOK VALUE
At 31 August 2023 32,511 23,593 5,331
At 31 August 2022 33,774 19,296 5,231

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2022 44,236 17,671 241,724
Additions - 899 16,013
At 31 August 2023 44,236 18,570 257,737
DEPRECIATION
At 1 September 2022 19,898 9,843 151,257
Charge for year 6,085 1,309 19,374
At 31 August 2023 25,983 11,152 170,631
NET BOOK VALUE
At 31 August 2023 18,253 7,418 87,106
At 31 August 2022 24,338 7,828 90,467

Cyril Austin & Sons Ltd (Registered number: 04042125)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 81,218 104,515
Other debtors 12,586 15,785
93,804 120,300

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 92,107 131,392
Taxation and social security 22,062 39,650
Other creditors 168,876 116,978
283,045 288,020