Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-3057795521802350462126281887432022-07-0118falseNo description of principal activity19falsetrue 02396887 2022-07-01 2023-06-30 02396887 2021-07-01 2022-06-30 02396887 2023-06-30 02396887 2022-06-30 02396887 2021-07-01 02396887 c:Director2 2022-07-01 2023-06-30 02396887 d:Buildings d:LongLeaseholdAssets 2022-07-01 2023-06-30 02396887 d:Buildings d:LongLeaseholdAssets 2023-06-30 02396887 d:Buildings d:LongLeaseholdAssets 2022-06-30 02396887 d:MotorVehicles 2022-07-01 2023-06-30 02396887 d:MotorVehicles 2023-06-30 02396887 d:MotorVehicles 2022-06-30 02396887 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02396887 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 02396887 d:FurnitureFittings 2022-07-01 2023-06-30 02396887 d:FurnitureFittings 2023-06-30 02396887 d:FurnitureFittings 2022-06-30 02396887 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02396887 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 02396887 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02396887 d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 02396887 d:CurrentFinancialInstruments 2023-06-30 02396887 d:CurrentFinancialInstruments 2022-06-30 02396887 d:Non-currentFinancialInstruments 2023-06-30 02396887 d:Non-currentFinancialInstruments 2022-06-30 02396887 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02396887 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 02396887 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 02396887 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 02396887 d:ShareCapital 2022-07-01 2023-06-30 02396887 d:ShareCapital 2023-06-30 02396887 d:ShareCapital 2021-07-01 2022-06-30 02396887 d:ShareCapital 2022-06-30 02396887 d:ShareCapital 2021-07-01 02396887 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 02396887 d:RetainedEarningsAccumulatedLosses 2023-06-30 02396887 d:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 02396887 d:RetainedEarningsAccumulatedLosses 2022-06-30 02396887 d:RetainedEarningsAccumulatedLosses 2021-07-01 02396887 c:OrdinaryShareClass1 2022-07-01 2023-06-30 02396887 c:OrdinaryShareClass1 2023-06-30 02396887 c:OrdinaryShareClass1 2022-06-30 02396887 c:FRS102 2022-07-01 2023-06-30 02396887 c:Audited 2022-07-01 2023-06-30 02396887 c:FullAccounts 2022-07-01 2023-06-30 02396887 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 02396887 d:WithinOneYear 2023-06-30 02396887 d:WithinOneYear 2022-06-30 02396887 d:BetweenOneFiveYears 2023-06-30 02396887 d:BetweenOneFiveYears 2022-06-30 02396887 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 02396887 d:HirePurchaseContracts d:WithinOneYear 2022-06-30 02396887 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 02396887 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-06-30 02396887 c:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 02396887 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 02396887 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 02396887 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-30 02396887 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02396887
















COUNTY BUILDING SUPPLIES (NUNEATON) LIMITED




FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023


































img6766.png


COUNTY BUILDING SUPPLIES (NUNEATON) LIMITED
REGISTERED NUMBER:02396887

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 5 
81,244
105,344

CURRENT ASSETS
  

Stocks
 6 
603,009
723,548

Debtors: amounts falling due within one year
 7 
523,685
535,681

Cash at bank and in hand
 8 
263,602
180,578

  
1,390,296
1,439,807

Creditors: amounts falling due within one year
 9 
(1,091,255)
(1,149,150)

NET CURRENT ASSETS
  
 
 
299,041
 
 
290,657

TOTAL ASSETS LESS CURRENT LIABILITIES
  
380,285
396,001

Creditors: amounts falling due after more than one year
 10 
(19,651)
(27,624)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 12 
(7,191)
(10,613)

NET ASSETS
  
353,443
357,764


CAPITAL AND RESERVES
  

Called up share capital 
 13 
100
100

Profit and loss account
  
353,343
357,664

  
353,443
357,764


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 statement of comprehensive income 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: 



M A Rees
Director

Date: 13 February 2024

The notes on pages 4 to 13 form part of these financial statements.
Page 1


COUNTY BUILDING SUPPLIES (NUNEATON) LIMITED


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 July 2022
100
357,664
357,764


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year
-
40,884
40,884
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
40,884
40,884


CONTRIBUTIONS BY AND DISTRIBUTIONS TO OWNERS

Dividends: Equity capital
-
(45,205)
(45,205)


TOTAL TRANSACTIONS WITH OWNERS
-
(45,205)
(45,205)


AT 30 JUNE 2023
100
353,343
353,443


The notes on pages 4 to 13 form part of these financial statements.
Page 2


COUNTY BUILDING SUPPLIES (NUNEATON) LIMITED


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 July 2021
100
239,710
239,810


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year
-
180,819
180,819
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
180,819
180,819


CONTRIBUTIONS BY AND DISTRIBUTIONS TO OWNERS

Dividends: Equity capital
-
(62,865)
(62,865)


TOTAL TRANSACTIONS WITH OWNERS
-
(62,865)
(62,865)


AT 30 JUNE 2022
100
357,664
357,764


The notes on pages 4 to 13 form part of these financial statements.
Page 3


COUNTY BUILDING SUPPLIES (NUNEATON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


GENERAL INFORMATION

County Building Supplies (Nuneaton) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 52a St. Andrews Road, Malvern, Worcestershire, WR14 3PP.
The principal activity of the company during the year was the sale of building supplies. 

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 following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The directors have assessed the ability of the company to continue as a going concern and have concluded that the going concern basis is still appropriate. They believe there is no material uncertainty over the company not being able to trade 12 months from the signing of these financial statements. Post year-end sales are in line with expectations and consistent with the previous years and cash at the year-end is high.

 
2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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.

 
2.4

OPERATING LEASES: THE COMPANY AS LESSEE

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

  
2.5

LEASED ASSETS: THE COMPANY AS LESSEE

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.
Page 4


COUNTY BUILDING SUPPLIES (NUNEATON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.ACCOUNTING POLICIES (continued)

 
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 the Statement of comprehensive income 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.

 
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

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.

Page 5


COUNTY BUILDING SUPPLIES (NUNEATON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.ACCOUNTING POLICIES (continued)


2.10
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and on a reducing balance basis.

Depreciation is provided on the following basis:

Leasehold improvement
-
10% straight line
Motor vehicles
-
25% straight line
Fixtures and fittings
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

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.

 
2.13

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.

 
2.14

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.

Page 6


COUNTY BUILDING SUPPLIES (NUNEATON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.ACCOUNTING POLICIES (continued)

 
2.15

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.16

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
 

Page 7


COUNTY BUILDING SUPPLIES (NUNEATON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.ACCOUNTING POLICIES (continued)


2.16
FINANCIAL INSTRUMENTS (CONTINUED)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.17

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.

Page 8


COUNTY BUILDING SUPPLIES (NUNEATON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

3.



JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period of the revision and future periods if the revision affects both current and future periods.
The following are the critical judgements and key sources of estimation uncertainty that the directors have made in the process of applying the Company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
Income taxes
The Company is subject to the income tax laws of the United Kingdom. These laws are complex and subject to different interpretations by taxpayers and tax authorities. When establishing income tax provisions, the directors make a number of judgements and interpretations about the application and interaction of these laws. Changes in these tax laws or in their interpretation could affect the Company's effective tax rate and the results of operations in a given period. Accordingly, potentially significant tax benefits will not be recognised until there is sufficient certainty that they will be accepted by HMRC.
Stock Provision
There is a risk that the Company will incur costs in relation to obsolete or damaged stock. Management consider the age of the stock and the levels of write offs and use this along with other current information to estimate the cost of this and make a provision accordingly.
Rebates
There is a risk that the Company will not recognise the rebates received in the correct period. Management consider the supplier activity and use this along with other current information to recognise rebates in the correct accounting period.


4.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 19 (2022: 18).

Page 9


COUNTY BUILDING SUPPLIES (NUNEATON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


TANGIBLE FIXED ASSETS





Leasehold improvements
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



COST OR VALUATION


At 1 July 2022
101,052
72,191
44,641
217,884



At 30 June 2023

101,052
72,191
44,641
217,884



DEPRECIATION


At 1 July 2022
47,939
31,942
32,659
112,540


Charge for the year on owned assets
5,779
-
2,397
8,176


Charge for the year on financed assets
-
15,924
-
15,924



At 30 June 2023

53,718
47,866
35,056
136,640



NET BOOK VALUE



At 30 June 2023
47,334
24,325
9,585
81,244



At 30 June 2022
53,113
40,249
11,982
105,344

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


2023
2022
£
£



Motor vehicles
24,325
40,249


6.


STOCKS

2023
2022
£
£

Finished goods and goods for resale
603,009
723,548


Page 10


COUNTY BUILDING SUPPLIES (NUNEATON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


DEBTORS

2023
2022
£
£


Trade debtors
390,678
422,803

Amounts owed by group undertakings
1,583
2,827

Other debtors
96,062
80,422

Prepayments and accrued income
35,362
29,629

523,685
535,681



8.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
263,602
180,578



9.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
640,083
639,080

Amounts owed to group undertakings
184,537
251,339

Corporation tax
-
40,659

Other taxation and social security
27,874
37,005

Obligations under finance lease and hire purchase contracts
13,308
15,282

Other creditors
219,882
163,355

Accruals and deferred income
5,571
2,430

1,091,255
1,149,150


Other creditors includes £214,762 (2022: £159,572) in respect of advances under an invoice discounting arrangement which is secured by a fixed and floating charge over all book and other debts of the company.
The obligations under finance leases are secured by fixed charges over the assets which they relate to.


10.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
19,651
27,624


The obligations under finance leases are secured by fixed charges over the assets which they relate to.

Page 11


COUNTY BUILDING SUPPLIES (NUNEATON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

11.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
13,308
15,282

Between 1-5 years
19,651
27,624

32,959
42,906


12.


DEFERRED TAXATION




2023


£






At beginning of year
(10,613)


Charged to profit or loss
3,422



AT END OF YEAR
(7,191)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(7,191)
(10,613)


13.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2022: 100) Ordinary Shares shares of £1.00 each
100
100



14.


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 £26,802 (2022: £26,884). Contributions totalling £3,873 (2022: £3,828) were payable to the fund at the reporting date and are iincluded in creditors.

Page 12


COUNTY BUILDING SUPPLIES (NUNEATON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

15.


COMMITMENTS UNDER OPERATING LEASES

At 30 June 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
145,438
107,413

Later than 1 year and not later than 5 years
1,305,759
176,273

1,451,197
283,686


16.


TRANSACTIONS WITH DIRECTORS

Included in turnover for the year are the following transactions with directors: 
T Jerrard-Dinn £803 (2022: £591) with £393 (2022: £662) being repaid in the year and credit notes raised of £NIL (2022: £38). The balance included in other debtors at the year end is £410 (2022: £NIL).
M Rees £83 (2022: £NIL) with £NIL (2022: £NIL) being repaid in the year. The balance included in other debtors at the year end is £83 (2022: £NIL).


17.


RELATED PARTY TRANSACTIONS


2023
2022
£
£

Purchase transactions with group companies
389,536
68,731
Sales transactions with group companies
61,181
39,088
Balances due from group companies
1,583
2,826
Balances due to group companies
184,537
251,338
Overheads recharged from group companies
151,447
149,655
Management charge paid to group companies
126,480
116,315
Dividends paid to group companies
36,164
50,000


18.


CONTROLLING PARTY

The ultimate parent company is County Building Supplies (Holdings) Limited.

19.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 30 June 2023 was unqualified.

The audit report was signed on 20 February 2024 by Simon Morrison FCA (Senior statutory auditor) on behalf of Bishop Fleming LLP.
 
Page 13