Company registration number 02304027 (England and Wales)
C & W FENCING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
C & W FENCING LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
C & W FENCING LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr Ian Kettle
Mrs Gaye Kettle
Mr Andrew Warren
Mr Lee Morgan
Mrs Emma Morgan
Mr Jason Kettle
Secretary
Mr Andrew Warren
Company number
02304027
Registered office
The Steelworks
Bradfield Road
Wix
Manningtree
Essex
CO11 2SG
Accountants
TC Group
11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
C & W FENCING LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
788,914
728,886
Current assets
Stocks
32,000
50,400
Debtors
4
418,522
452,398
Cash at bank and in hand
726,670
648,150
1,177,192
1,150,948
Creditors: amounts falling due within one year
5
(363,963)
(469,029)
Net current assets
813,229
681,919
Total assets less current liabilities
1,602,143
1,410,805
Creditors: amounts falling due after more than one year
6
(7,515)
(32,362)
Provisions for liabilities
(62,509)
(52,310)
Net assets
1,532,119
1,326,133
Capital and reserves
Called up share capital
111
111
Other reserves
172,771
172,771
Profit and loss reserves
1,359,237
1,153,251
Total equity
1,532,119
1,326,133
C & W FENCING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2023
31 October 2023
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 March 2024 and are signed on its behalf by:
Mr Ian Kettle
Director
Company Registration No. 02304027
The notes on pages 4 to 7 form part of these financial statements
C & W FENCING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
1
Accounting policies
Company information

C & W Fencing Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Steelworks, Bradfield Road, Wix, Manningtree, Essex, CO11 2SG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Plant and equipment
15% reducing balance
Fixtures and fittings
3 years straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Freehold property is comprised mainly of land and so this has not been depreciated. The directors believe that the carrying value of buildings exceeds its residual value and so no depreciation has been charged.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

C & W FENCING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 5 -

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.6
Defined contribution pension 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.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
27
27
C & W FENCING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 6 -
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2022
475,000
300,835
24,148
413,447
1,213,430
Additions
-
0
36,567
1,806
207,405
245,778
Disposals
-
0
(5,645)
(700)
(195,291)
(201,636)
At 31 October 2023
475,000
331,757
25,254
425,561
1,257,572
Depreciation and impairment
At 1 November 2022
-
0
249,465
23,447
211,632
484,544
Depreciation charged in the year
-
0
13,408
922
79,447
93,777
Eliminated in respect of disposals
-
0
(5,104)
(700)
(103,859)
(109,663)
At 31 October 2023
-
0
257,769
23,669
187,220
468,658
Carrying amount
At 31 October 2023
475,000
73,988
1,585
238,341
788,914
At 31 October 2022
475,000
51,370
701
201,815
728,886
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
393,223
425,287
Other debtors
25,299
27,111
418,522
452,398
C & W FENCING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 7 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
202,723
330,355
Taxation and social security
111,298
86,362
Other creditors
49,942
52,312
363,963
469,029

Other creditors includes hire purchase obligations of £20,941 (2022: £22,815) which are secured against the corresponding assets.

6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
7,515
32,362

Other creditors includes hire purchase obligations of £14,769 (2022: £32,362) which are secured against the corresponding assets.

7
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
4,570
3,485
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