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REGISTERED NUMBER: 09700100 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Corrigan Contractors Limited

Corrigan Contractors Limited (Registered number: 09700100)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Corrigan Contractors Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Shaun David Corrigan





REGISTERED OFFICE: 3rd Floor 207 Regent Street
London
W1B 3HH





REGISTERED NUMBER: 09700100 (England and Wales)





ACCOUNTANTS: Mackay & Co CA
120 George Street
Oban
Argyll
PA34 5NT

Corrigan Contractors Limited (Registered number: 09700100)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 576 864
Tangible assets 5 2,543,796 2,181,287
2,544,372 2,182,151

CURRENT ASSETS
Stocks 508,686 934,810
Debtors 6 350,622 251,196
Cash at bank 255,407 280,458
1,114,715 1,466,464
CREDITORS
Amounts falling due within one year 7 857,784 856,399
NET CURRENT ASSETS 256,931 610,065
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,801,303

2,792,216

CREDITORS
Amounts falling due after more than
one year

8

(780,805

)

(814,056

)

PROVISIONS FOR LIABILITIES (312,358 ) (322,608 )
NET ASSETS 1,708,140 1,655,552

Corrigan Contractors Limited (Registered number: 09700100)

Balance Sheet - continued
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,707,940 1,655,352
SHAREHOLDERS' FUNDS 1,708,140 1,655,552

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 February 2024 and were signed by:





Shaun David Corrigan - Director


Corrigan Contractors Limited (Registered number: 09700100)

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

1. STATUTORY INFORMATION

Corrigan Contractors 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.

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.

Company Website is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance, 15% on reducing balance and 10% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Corrigan Contractors Limited (Registered number: 09700100)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2022
and 31 July 2023 2,880
AMORTISATION
At 1 August 2022 2,016
Charge for year 288
At 31 July 2023 2,304
NET BOOK VALUE
At 31 July 2023 576
At 31 July 2022 864

Corrigan Contractors Limited (Registered number: 09700100)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 2,894,984
Additions 830,854
Disposals (273,882 )
At 31 July 2023 3,451,956
DEPRECIATION
At 1 August 2022 713,697
Charge for year 270,367
Eliminated on disposal (75,904 )
At 31 July 2023 908,160
NET BOOK VALUE
At 31 July 2023 2,543,796
At 31 July 2022 2,181,287

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2022 1,795,615
Additions 522,096
Disposals (187,000 )
At 31 July 2023 2,130,711
DEPRECIATION
At 1 August 2022 286,213
Charge for year 179,240
Eliminated on disposal (56,680 )
At 31 July 2023 408,773
NET BOOK VALUE
At 31 July 2023 1,721,938
At 31 July 2022 1,509,402

Corrigan Contractors Limited (Registered number: 09700100)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 156,618 155,025
Other debtors 194,004 96,171
350,622 251,196

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 39,394 39,394
Hire purchase contracts 410,113 356,254
Trade creditors 148,111 232,493
Taxation and social security 12,931 15,319
Other creditors 247,235 212,939
857,784 856,399

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans 69,697 109,091
Hire purchase contracts 711,108 704,965
780,805 814,056

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans 109,091 148,485

The above debts together with any sums that may become due, are secured by Lloyds Bank PLC, in the way of a floating charge over all the assets of the Company.