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REGISTERED NUMBER: 04489787 (England and Wales)


































Unaudited Financial Statements

for the Year Ended 31 July 2023

for

JOHN CULLERTON & SONS LIMITED

JOHN CULLERTON & SONS LIMITED (REGISTERED NUMBER: 04489787)






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


JOHN CULLERTON & SONS LIMITED

Company Information
for the year ended 31 July 2023







DIRECTORS: J Cullerton
D Cullerton
J P Cullerton
P S Cook





REGISTERED OFFICE: Unit A
Renny's Lane
Gilesgate Moor
Durham
Co. Durham
DH1 2RB





REGISTERED NUMBER: 04489787 (England and Wales)





ACCOUNTANTS: Mitchells Grievson Limited
Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX

JOHN CULLERTON & SONS LIMITED (REGISTERED NUMBER: 04489787)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 941,645 880,618

CURRENT ASSETS
Stocks 701,802 603,152
Debtors 5 664,903 646,461
Cash at bank and in hand 243,719 69,561
1,610,424 1,319,174
CREDITORS
Amounts falling due within one year 6 1,578,879 1,271,145
NET CURRENT ASSETS 31,545 48,029
TOTAL ASSETS LESS CURRENT
LIABILITIES

973,190

928,647

CREDITORS
Amounts falling due after more than one year 7 (560,689 ) (613,911 )

PROVISIONS FOR LIABILITIES (115,316 ) (101,471 )
NET ASSETS 297,185 213,265

CAPITAL AND RESERVES
Called up share capital 9 2,205 2,205
Revaluation reserve 10 63,927 65,388
Retained earnings 231,053 145,672
SHAREHOLDERS' FUNDS 297,185 213,265

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 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.

JOHN CULLERTON & SONS LIMITED (REGISTERED NUMBER: 04489787)

Balance Sheet - continued
31 July 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 30 January 2024 and were signed on its behalf by:




P S Cook - Director



D Cullerton - Director


JOHN CULLERTON & SONS LIMITED (REGISTERED NUMBER: 04489787)

Notes to the Financial Statements
for the year ended 31 July 2023

1. STATUTORY INFORMATION

John Cullerton & Sons 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Freehold property - 2% on cost
Improvements to property - 4% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

JOHN CULLERTON & SONS LIMITED (REGISTERED NUMBER: 04489787)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 31 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 August 2022 313,731 186,269 525,432
Additions - - 241,209
Disposals - - (98,596 )
At 31 July 2023 313,731 186,269 668,045
DEPRECIATION
At 1 August 2022 36,677 38,293 166,437
Charge for year 6,275 7,221 95,351
Eliminated on disposal - - (52,119 )
At 31 July 2023 42,952 45,514 209,669
NET BOOK VALUE
At 31 July 2023 270,779 140,755 458,376
At 31 July 2022 277,054 147,976 358,995

JOHN CULLERTON & SONS LIMITED (REGISTERED NUMBER: 04489787)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 August 2022 64,818 79,142 76,915 1,246,307
Additions - - 2,566 243,775
Disposals - - - (98,596 )
At 31 July 2023 64,818 79,142 79,481 1,391,486
DEPRECIATION
At 1 August 2022 50,957 4,987 68,338 365,689
Charge for year 3,465 18,539 5,420 136,271
Eliminated on disposal - - - (52,119 )
At 31 July 2023 54,422 23,526 73,758 449,841
NET BOOK VALUE
At 31 July 2023 10,396 55,616 5,723 941,645
At 31 July 2022 13,861 74,155 8,577 880,618

Cost or valuation at 31 July 2023 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2017 90,200 - -
Cost 223,531 186,269 668,045
313,731 186,269 668,045

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2017 - - - 90,200
Cost 64,818 79,142 79,481 1,301,286
64,818 79,142 79,481 1,391,486

Freehold land and buildings were valued on an open market basis on 19 January 2017 by Thomas Madrell MRICS of Lloyds TSB .

JOHN CULLERTON & SONS LIMITED (REGISTERED NUMBER: 04489787)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 August 2022 475,849 79,142 554,991
Additions 241,209 - 241,209
Disposals (98,596 ) - (98,596 )
At 31 July 2023 618,462 79,142 697,604
DEPRECIATION
At 1 August 2022 144,619 4,987 149,606
Charge for year 91,727 18,539 110,266
Eliminated on disposal (52,119 ) - (52,119 )
At 31 July 2023 184,227 23,526 207,753
NET BOOK VALUE
At 31 July 2023 434,235 55,616 489,851
At 31 July 2022 331,230 74,155 405,385

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 637,141 627,455
Other debtors 27,762 19,006
664,903 646,461

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 56,000 82,006
Hire purchase contracts 116,679 100,366
Payments on account 814,020 564,049
Trade creditors 525,196 441,144
Taxation and social security 34,395 31,480
Other creditors 32,589 52,100
1,578,879 1,271,145

JOHN CULLERTON & SONS LIMITED (REGISTERED NUMBER: 04489787)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 226,389 285,610
Hire purchase contracts 334,300 328,301
560,689 613,911

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 76,056 101,277

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts - 1,007
Bank loans 282,389 366,609
Hire purchase contracts 450,979 428,667
733,368 796,283

Assets held under hire purchase are secured on the assets to which they relate.

The overdrawn bank balance is a factoring account which is secured on the clients debtors book.

The bank loan is secured on the property to which it relates.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,205 Ordinary, A, B, C, D, E and F £1 2,205 2,205

The 2,205 issued Ordinary £1 shares are split as follows:
1,100 Ordinary
550 Ordinary A
2 Ordinary B
1 Ordinary C
550 Ordinary D
1 Ordinary E
1 Ordinary F

JOHN CULLERTON & SONS LIMITED (REGISTERED NUMBER: 04489787)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

10. RESERVES
Revaluation
reserve
£   
At 1 August 2022 65,388
Transfer from/to reval reserve (1,804 )
Deferred tax on revaluation 343

At 31 July 2023 63,927

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
D Cullerton
Balance outstanding at start of year - 26,847
Amounts repaid - (26,847 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Loans are interest free with no fixed date for repayment.