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COMPANY REGISTRATION NUMBER: 08739046
Custom Construction Services Oxon Limited
Filleted Unaudited Financial Statements
31 March 2023
Custom Construction Services Oxon Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
64,688
22,097
Current assets
Stocks
5,600
5,600
Debtors
6
202,276
289,900
Cash at bank and in hand
96,862
---------
---------
304,738
295,500
Creditors: amounts falling due within one year
7
177,386
249,085
---------
---------
Net current assets
127,352
46,415
---------
--------
Total assets less current liabilities
192,040
68,512
Creditors: amounts falling due after more than one year
8
20,386
9,388
---------
--------
Net assets
171,654
59,124
---------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
171,554
59,024
---------
--------
Shareholders funds
171,654
59,124
---------
--------
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.
For the year ending 31 March 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 .
Custom Construction Services Oxon Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 1 March 2024 , and are signed on behalf of the board by:
Mr D Clack
Director
Company registration number: 08739046
Custom Construction Services Oxon Limited
Notes to the Financial Statements
Year ended 31 March 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 5 Minton Place, Victoria Road, Bicester, Oxfordshire, OX26 6QB, England.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax
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.
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:
Plant & Machinery
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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.
Government grants
/Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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 2 (2022: 2 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 April 2022
15,459
43,567
59,026
Additions
64,215
64,215
Disposals
( 17,995)
( 17,995)
--------
--------
---------
At 31 March 2023
15,459
89,787
105,246
--------
--------
---------
Depreciation
At 1 April 2022
10,058
26,871
36,929
Charge for the year
1,350
12,402
13,752
Disposals
( 10,123)
( 10,123)
--------
--------
---------
At 31 March 2023
11,408
29,150
40,558
--------
--------
---------
Carrying amount
At 31 March 2023
4,051
60,637
64,688
--------
--------
---------
At 31 March 2022
5,401
16,696
22,097
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
2,023
127,413
Other debtors
200,253
162,487
---------
---------
202,276
289,900
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,500
14,833
Trade creditors
53,755
46,101
Corporation tax
57,585
33,551
Social security and other taxes
54,888
32,152
Other creditors
8,658
122,448
---------
---------
177,386
249,085
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
3,573
6,013
Other creditors
16,813
3,375
--------
-------
20,386
9,388
--------
-------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr D Clack
( 115,110)
( 131,436)
245,967
( 579)
---------
---------
---------
----
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr D Clack
( 51,583)
( 63,527)
( 115,110)
--------
--------
----
---------