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REGISTERED NUMBER: 06258133 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

CONTRACTS ADVANCE LIMITED

CONTRACTS ADVANCE LIMITED (REGISTERED NUMBER: 06258133)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CONTRACTS ADVANCE LIMITED

COMPANY INFORMATION
for the Year Ended 31 AUGUST 2023







DIRECTORS: C J H Millhouse
L F Hasell





REGISTERED OFFICE: Offices 1 & 2
23 Gay Street
Bath
BA1 2PD





REGISTERED NUMBER: 06258133 (England and Wales)





ACCOUNTANTS: Burnside
Chartered Accountants
and Statutory Auditor
61 Queen Square
Bristol
BS1 4JZ

CONTRACTS ADVANCE LIMITED (REGISTERED NUMBER: 06258133)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 328,258 -
Tangible assets 5 53,952 22,309
382,210 22,309

CURRENT ASSETS
Debtors 6 1,832,152 1,004,865
Cash at bank and in hand 302,832 409,901
2,134,984 1,414,766
CREDITORS
Amounts falling due within one year 7 2,058,894 1,246,073
NET CURRENT ASSETS 76,090 168,693
TOTAL ASSETS LESS CURRENT
LIABILITIES

458,300

191,002

CREDITORS
Amounts falling due after more than
one year

8

390,635

168,770
NET ASSETS 67,665 22,232

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Retained earnings 57,665 12,232
SHAREHOLDERS' FUNDS 67,665 22,232

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 directors acknowledge their 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.

CONTRACTS ADVANCE LIMITED (REGISTERED NUMBER: 06258133)

BALANCE SHEET - continued
31 AUGUST 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2024 and were signed on its behalf by:




C J H Millhouse - Director



L F Hasell - Director


CONTRACTS ADVANCE LIMITED (REGISTERED NUMBER: 06258133)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 AUGUST 2023

1. STATUTORY INFORMATION

Contracts Advance Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 recognised as a fair value of the consideration received or receivable, net of Value Added Tax. Turnover in respect of services supplied is recognised by reference to the stage of completion of each contract having reference to the initial costs incurred in achieving that contract. Where it is deemed that the contract is to be performed outside of the accounting period, this proportion of the income is recognised in a subsequent accounting period.

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.

Computer software will be amortised evenly over its estimated useful life of six years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


CONTRACTS ADVANCE LIMITED (REGISTERED NUMBER: 06258133)

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.

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.

Financial instruments
Financial assets and liabilities are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs.

Interest bearing bank loans, overdrafts and other loans which meet the criteria of basic financial instruments are initially recorded at the present value of cash payable to the bank, usually being equivalent to the proceeds received net of direct issue costs. These liabilities are subsequently measured at amortised cost, using the effective interest rate method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2022 - 33 ) .

CONTRACTS ADVANCE LIMITED (REGISTERED NUMBER: 06258133)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 AUGUST 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 328,258
At 31 August 2023 328,258
NET BOOK VALUE
At 31 August 2023 328,258

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 72,257
Additions 44,445
At 31 August 2023 116,702
DEPRECIATION
At 1 September 2022 49,948
Charge for year 12,802
At 31 August 2023 62,750
NET BOOK VALUE
At 31 August 2023 53,952
At 31 August 2022 22,309

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 882,463 545,697
Other debtors 949,689 459,168
1,832,152 1,004,865

CONTRACTS ADVANCE LIMITED (REGISTERED NUMBER: 06258133)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 AUGUST 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 110,806 135,055
Taxation and social security 393,435 301,090
Other creditors 1,554,653 809,928
2,058,894 1,246,073

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 390,635 168,770

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000

The issued share capital of the company of 10,000 Ordinary shares of £1 each is allocated as follows:

4,600 Ordinary A shares of £1 each
4,600 Ordinary B shares of £1 each
700 Ordinary C shares of £1 each
100 Ordinary D shares of £1 each

On 30 October 2020 the company granted an option over 500 Ordinary E shares of £1 each in accordance with the Contracts Advance Limited EMI Option Scheme. The Option is granted as an enterprise management incentive (EMI) option under the provisions of Schedule 5, Income Tax (Earnings and Pensions) Act 2003. The Exercise price per share is £250.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 August 2023 the company was owed £402,895 (2022 - £178,117) by C J H Millhouse and £213,005 (2022 - £93,794) by L F Hasell.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties of the company are C J H Millhouse, J R Millhouse, L F Hasell and K Hasell.