23 false false false false false false false false false false true false false false false false false No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,221,624 491,136 52,177 543,313 678,311 730,488 xbrli:pure xbrli:shares iso4217:GBP 05568929 2022-05-01 2023-04-30 05568929 2023-04-30 05568929 2022-04-30 05568929 2021-05-01 2022-04-30 05568929 2022-04-30 05568929 2021-04-30 05568929 core:NetGoodwill 2022-05-01 2023-04-30 05568929 core:PlantMachinery 2022-05-01 2023-04-30 05568929 core:FurnitureFittings 2022-05-01 2023-04-30 05568929 core:MotorVehicles 2022-05-01 2023-04-30 05568929 bus:Director1 2022-05-01 2023-04-30 05568929 core:NetGoodwill 2022-04-30 05568929 core:NetGoodwill 2023-04-30 05568929 core:PlantMachinery 2022-04-30 05568929 core:FurnitureFittings 2022-04-30 05568929 core:MotorVehicles 2022-04-30 05568929 core:PlantMachinery 2023-04-30 05568929 core:FurnitureFittings 2023-04-30 05568929 core:MotorVehicles 2023-04-30 05568929 core:WithinOneYear 2023-04-30 05568929 core:WithinOneYear 2022-04-30 05568929 core:AfterOneYear 2023-04-30 05568929 core:AfterOneYear 2022-04-30 05568929 core:ShareCapital 2023-04-30 05568929 core:ShareCapital 2022-04-30 05568929 core:RetainedEarningsAccumulatedLosses 2023-04-30 05568929 core:RetainedEarningsAccumulatedLosses 2022-04-30 05568929 core:NetGoodwill 2022-04-30 05568929 core:PlantMachinery 2022-04-30 05568929 core:FurnitureFittings 2022-04-30 05568929 core:MotorVehicles 2022-04-30 05568929 bus:SmallEntities 2022-05-01 2023-04-30 05568929 bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 05568929 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 05568929 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 05568929 bus:FullAccounts 2022-05-01 2023-04-30
COMPANY REGISTRATION NUMBER: 05568929
CW&R LIMITED
Filleted Unaudited Financial Statements
For the year ended
30 April 2023
CW&R LIMITED
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
£
Fixed Assets
Intangible assets
5
678,311
730,488
Tangible assets
6
87,388
118,025
-----------
-----------
765,699
848,513
Current Assets
Debtors
7
449,313
391,380
Cash at bank and in hand
153,222
84,482
-----------
-----------
602,535
475,862
Prepayments and Accrued Income
22,283
31,954
Creditors: amounts falling due within one year
8
313,249
295,446
-----------
-----------
Net Current Assets
311,569
212,370
---------------
---------------
Total Assets Less Current Liabilities
1,077,268
1,060,883
Creditors: amounts falling due after more than one year
9
24,226
44,821
Provisions
Taxation including deferred tax
14,341
16,272
---------------
---------------
Net Assets
1,038,701
999,790
---------------
---------------
Capital and Reserves
Called up share capital
125
125
Profit and loss account
1,038,576
999,665
---------------
-----------
Shareholders Funds
1,038,701
999,790
---------------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
CW&R LIMITED
Statement of Financial Position (continued)
30 April 2023
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 January 2024 , and are signed on behalf of the board by:
Mr J Bellamy
Director
Company registration number: 05568929
CW&R LIMITED
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Mannin Way, Lancaster Business Park, Lancaster, Lancashire, LA1 3SW, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Purchased Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Relocation
-
10% straight line
Motor Vehicles
-
25% reducing balance
Server Equipment
-
20% straight line
Other Computer equipment
-
33% straight line
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution 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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 23 (2022: 23 ).
5. Intangible assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
1,221,624
---------------
Amortisation
At 1 May 2022
491,136
Charge for the year
52,177
---------------
At 30 April 2023
543,313
---------------
Carrying amount
At 30 April 2023
678,311
---------------
At 30 April 2022
730,488
---------------
Goodwill is shown at the original acquisition cost less the amount amortised at the balance sheet date to reflect the Directors' annual impairment assessment. At the 30th April 2016 the directors believed that amortising the assessed value over the next 20 years will provide a reliable estimate of the useful life of goodwill and give a true and fair view of the carrying value of the asset.
6. Tangible assets
Office Equipment
Office Fixtures and Relocation Expenses
Motor Vehicles
Computer Equipment
Total
£
£
£
£
£
Cost
At 1 May 2022
19,826
106,933
63,744
36,014
226,517
Additions
492
1,863
2,632
4,987
----------
-----------
----------
----------
-----------
At 30 April 2023
20,318
108,796
63,744
38,646
231,504
----------
-----------
----------
----------
-----------
Depreciation
At 1 May 2022
11,026
62,870
12,101
22,495
108,492
Charge for the year
2,072
11,509
15,455
6,588
35,624
----------
-----------
----------
----------
-----------
At 30 April 2023
13,098
74,379
27,556
29,083
144,116
----------
-----------
----------
----------
-----------
Carrying amount
At 30 April 2023
7,220
34,417
36,188
9,563
87,388
----------
-----------
----------
----------
-----------
At 30 April 2022
8,800
44,063
51,643
13,519
118,025
----------
-----------
----------
----------
-----------
7. Debtors
2023
2022
£
£
Trade debtors
260,368
218,506
Other debtors
188,945
172,874
-----------
-----------
449,313
391,380
-----------
-----------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
15,605
15,604
Corporation tax
81,241
63,480
Social security and other taxes
108,151
93,151
Other creditors
108,252
123,211
-----------
-----------
313,249
295,446
-----------
-----------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
9,167
19,167
Other creditors
15,059
25,654
----------
----------
24,226
44,821
----------
----------
10. Directors' advances, credits and guarantees
There were none that require disclosure.
11. Related party transactions
There were no transactions regarding related parties that require disclosure.