Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activity8falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.82022-04-01truetrue 03727685 2022-04-01 2023-03-31 03727685 2021-04-01 2022-03-31 03727685 2023-03-31 03727685 2022-03-31 03727685 c:Director1 2022-04-01 2023-03-31 03727685 c:Director2 2022-04-01 2023-03-31 03727685 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 03727685 d:Buildings d:LongLeaseholdAssets 2023-03-31 03727685 d:Buildings d:LongLeaseholdAssets 2022-03-31 03727685 d:PlantMachinery 2022-04-01 2023-03-31 03727685 d:PlantMachinery 2023-03-31 03727685 d:PlantMachinery 2022-03-31 03727685 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03727685 d:MotorVehicles 2022-04-01 2023-03-31 03727685 d:MotorVehicles 2023-03-31 03727685 d:MotorVehicles 2022-03-31 03727685 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03727685 d:FurnitureFittings 2022-04-01 2023-03-31 03727685 d:FurnitureFittings 2023-03-31 03727685 d:FurnitureFittings 2022-03-31 03727685 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03727685 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03727685 d:Goodwill 2023-03-31 03727685 d:Goodwill 2022-03-31 03727685 d:CurrentFinancialInstruments 2023-03-31 03727685 d:CurrentFinancialInstruments 2022-03-31 03727685 d:Non-currentFinancialInstruments 2023-03-31 03727685 d:Non-currentFinancialInstruments 2022-03-31 03727685 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03727685 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03727685 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03727685 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 03727685 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 03727685 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 03727685 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 03727685 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 03727685 d:ShareCapital 2023-03-31 03727685 d:ShareCapital 2022-03-31 03727685 d:RetainedEarningsAccumulatedLosses 2023-03-31 03727685 d:RetainedEarningsAccumulatedLosses 2022-03-31 03727685 c:FRS102 2022-04-01 2023-03-31 03727685 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 03727685 c:FullAccounts 2022-04-01 2023-03-31 03727685 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03727685 2 2022-04-01 2023-03-31 03727685 4 2022-04-01 2023-03-31 03727685 6 2022-04-01 2023-03-31 03727685 7 2022-04-01 2023-03-31 03727685 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 03727685 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-03-31 03727685 d:LeasedAssetsHeldAsLessee 2023-03-31 03727685 d:LeasedAssetsHeldAsLessee 2022-03-31 03727685 d:Goodwill d:OwnedIntangibleAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 03727685










CJ RINGWOOD CONTROLS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
CJ RINGWOOD CONTROLS LIMITED
 

CONTENTS



Page
Statement of financial position
 
1 - 2
Notes to the financial statements
 
3 - 11


 
CJ RINGWOOD CONTROLS LIMITED
REGISTERED NUMBER: 03727685

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
1,100

Tangible assets
 5 
113,387
111,882

Investments
 6 
5,298
5,404

  
118,685
118,386

Current assets
  

Stocks
  
23,483
20,219

Debtors
 7 
184,986
225,696

Cash at bank and in hand
  
219,125
145,480

  
427,594
391,395

Creditors: amounts falling due within one year
 8 
(127,724)
(115,045)

Net current assets
  
 
 
299,870
 
 
276,350

Total assets less current liabilities
  
418,555
394,736

Creditors: amounts falling due after more than one year
 9 
(21,667)
(36,667)

Provisions for liabilities
  

Deferred tax
  
(25,903)
(25,365)

  
 
 
(25,903)
 
 
(25,365)

Net assets
  
370,985
332,704


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
370,983
332,702

  
370,985
332,704


Page 1

 
CJ RINGWOOD CONTROLS LIMITED
REGISTERED NUMBER: 03727685
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr J I Ringwood
................................................
Mrs C Ringwood
Director
Director


Date: 30 November 2023
Date:30 November 2023

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
CJ RINGWOOD CONTROLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

CJ Ringwood Controls Limited is a private company limited by shares and incorporated in England and Wales, registration number 03727685. The registered office is 80 Grove Lane, Holt, Norfolk, NR25 6ED.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CJ RINGWOOD CONTROLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Operating leases

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

 
2.4

Finance leases

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
CJ RINGWOOD CONTROLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.10

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.11

Intangible assets

Goodwill represents the difference between amounts paid on the cost of a business combination and the aquirer's interest in the fair value of its identifiable assets and liabilites of the acquiree at the date of aquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Income statement over its useful economic life. 

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Leasehold property
-
10% straight line
Plant & machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
20% reducing balance

Page 5

 
CJ RINGWOOD CONTROLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.13

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.14

Stocks

Stocks are stated at the lower of cost and net realisable value.

 
2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.18

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

 
2.19

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trader and other debtors and creditors, loans from banks and other third parties, loans to related parties and investment in ordinary shares. 

 
2.20

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 8).

Page 6

 
CJ RINGWOOD CONTROLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
44,000



At 31 March 2023

44,000



Amortisation


At 1 April 2022
42,900


Charge for the year on owned assets
1,100



At 31 March 2023

44,000



Net book value



At 31 March 2023
-



At 31 March 2022
1,100



Page 7

 
CJ RINGWOOD CONTROLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





L/Term Leasehold Property
Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
12,870
5,579
154,021
35,564
208,034


Additions
-
-
77,950
915
78,865


Disposals
-
-
(65,225)
(2,460)
(67,685)



At 31 March 2023

12,870
5,579
166,746
34,019
219,214



Depreciation


At 1 April 2022
12,131
4,850
54,755
24,416
96,152


Charge for the year on owned assets
100
146
34,317
2,300
36,863


Disposals
-
-
(25,276)
(1,912)
(27,188)



At 31 March 2023

12,231
4,996
63,796
24,804
105,827



Net book value



At 31 March 2023
639
583
102,950
9,215
113,387



At 31 March 2022
739
729
99,266
11,148
111,882

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
28,108
37,477

28,108
37,477

Page 8

 
CJ RINGWOOD CONTROLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 April 2022
5,404


Revaluations
(106)



At 31 March 2023
5,298




Page 9

 
CJ RINGWOOD CONTROLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Debtors


2023
2022
£
£

Due after more than one year

Other debtors
10,000
10,000

10,000
10,000

Due within one year

Trade debtors
144,919
132,061

Other debtors
27,894
80,998

Prepayments and accrued income
2,173
2,637

184,986
225,696



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
46,458
49,833

Corporation tax
48,694
25,394

Other taxation and social security
8,199
5,544

Obligations under finance lease and hire purchase contracts
5,000
7,500

Other creditors
3,410
1,343

Accruals and deferred income
5,963
15,431

127,724
115,045


Details of security provided: 
Net obligations under hire purchase contracts are secured upon the asset to which they relate. 


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
21,667
31,667

Net obligations under finance leases and hire purchase contracts
-
5,000

21,667
36,667


Page 10

 
CJ RINGWOOD CONTROLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
11,667
21,667


11,667
21,667


31,667
41,667



11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
The pension cost charge represents contributions payable by the company to the fund and amounted to £16,994 (2022: £16,896). 


12.


Transactions with directors

At the year end the directors owed the company £25,956 (2022: £73,849) which is included in other debtors. Interest has been charged on any overdrawn balance at 2.5% per annum. The loan account was repaid in full after the year end.

 
Page 11