Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-3026143391152974043719722897932022-07-01falsesale of building supplies1918falsetruefalse 03751031 2022-07-01 2023-06-30 03751031 2021-07-01 2022-06-30 03751031 2023-06-30 03751031 2022-06-30 03751031 c:Director1 2022-07-01 2023-06-30 03751031 d:Buildings d:LongLeaseholdAssets 2022-07-01 2023-06-30 03751031 d:Buildings d:LongLeaseholdAssets 2023-06-30 03751031 d:Buildings d:LongLeaseholdAssets 2022-06-30 03751031 d:MotorVehicles 2022-07-01 2023-06-30 03751031 d:MotorVehicles 2023-06-30 03751031 d:MotorVehicles 2022-06-30 03751031 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 03751031 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 03751031 d:FurnitureFittings 2022-07-01 2023-06-30 03751031 d:FurnitureFittings 2023-06-30 03751031 d:FurnitureFittings 2022-06-30 03751031 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 03751031 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 03751031 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 03751031 d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 03751031 d:CurrentFinancialInstruments 2023-06-30 03751031 d:CurrentFinancialInstruments 2022-06-30 03751031 d:Non-currentFinancialInstruments 2023-06-30 03751031 d:Non-currentFinancialInstruments 2022-06-30 03751031 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 03751031 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 03751031 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 03751031 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 03751031 d:ShareCapital 2023-06-30 03751031 d:ShareCapital 2022-06-30 03751031 d:RetainedEarningsAccumulatedLosses 2023-06-30 03751031 d:RetainedEarningsAccumulatedLosses 2022-06-30 03751031 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 03751031 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 03751031 c:OrdinaryShareClass1 2022-07-01 2023-06-30 03751031 c:OrdinaryShareClass1 2023-06-30 03751031 c:OrdinaryShareClass1 2022-06-30 03751031 c:FRS102 2022-07-01 2023-06-30 03751031 c:Audited 2022-07-01 2023-06-30 03751031 c:FullAccounts 2022-07-01 2023-06-30 03751031 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 03751031 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 03751031 d:HirePurchaseContracts d:WithinOneYear 2022-06-30 03751031 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 03751031 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-06-30 03751031 c:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 03751031 6 2022-07-01 2023-06-30 03751031 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-30 03751031 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-06-30 03751031 e:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 03751031
















COUNTY BUILDING SUPPLIES (EVESHAM) LIMITED




FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023


































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COUNTY BUILDING SUPPLIES (EVESHAM) LIMITED
REGISTERED NUMBER:03751031

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
121,174
120,150

Investments
 6 
-
10

  
121,174
120,160

Current assets
  

Stocks
 7 
382,949
419,836

Debtors: amounts falling due within one year
 8 
2,820,694
2,777,363

Cash at bank and in hand
 9 
299,993
292,946

  
3,503,636
3,490,145

Creditors: amounts falling due within one year
 10 
(1,168,104)
(1,274,206)

Net current assets
  
 
 
2,335,532
 
 
2,215,939

Total assets less current liabilities
  
2,456,706
2,336,099

Creditors: amounts falling due after more than one year
 11 
(65,961)
(60,421)

Provisions for liabilities
  

Deferred tax
 13 
(16,634)
(12,626)

Net assets
  
2,374,111
2,263,052


Capital and reserves
  

Called up share capital 
 14 
100
100

Profit and loss account
  
2,374,011
2,262,952

  
2,374,111
2,263,052


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 2 to 12 form part of these financial statements.

Page 1


COUNTY BUILDING SUPPLIES (EVESHAM) LIMITED

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

1.


GENERAL INFORMATION

County Building Supplies (Evesham) 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 2


COUNTY BUILDING SUPPLIES (EVESHAM) 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 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.

 
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 3


COUNTY BUILDING SUPPLIES (EVESHAM) 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:

Long-term leasehold property
-
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

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

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 4


COUNTY BUILDING SUPPLIES (EVESHAM) LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.16

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.

 
2.17

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 5


COUNTY BUILDING SUPPLIES (EVESHAM) LIMITED

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

2.ACCOUNTING POLICIES (continued)


2.17
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.

Page 6


COUNTY BUILDING SUPPLIES (EVESHAM) 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 7


COUNTY BUILDING SUPPLIES (EVESHAM) LIMITED

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

5.


TANGIBLE FIXED ASSETS





Long-term leasehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



COST OR VALUATION


At 1 July 2022
26,140
300,057
54,020
380,217


Additions
-
38,495
-
38,495


Disposals
-
(82,460)
-
(82,460)



At 30 June 2023

26,140
256,092
54,020
336,252



DEPRECIATION


At 1 July 2022
9,149
217,528
33,390
260,067


Charge for the year on owned assets
2,614
-
4,125
6,739


Charge for the year on financed assets
-
30,732
-
30,732


Disposals
-
(82,460)
-
(82,460)



At 30 June 2023

11,763
165,800
37,515
215,078



NET BOOK VALUE



At 30 June 2023
14,377
90,292
16,505
121,174



At 30 June 2022
16,991
82,529
20,630
120,150

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


2023
2022
£
£



Motor vehicles
90,292
82,530

Page 8


COUNTY BUILDING SUPPLIES (EVESHAM) LIMITED

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

6.


FIXED ASSET INVESTMENTS





Unlisted investments

£





At 1 July 2022
10


Disposals
(10)



At 30 June 2023
-





7.


STOCKS

2023
2022
£
£

Finished goods and goods for resale
382,949
419,836



8.


DEBTORS

2023
2022
£
£


Trade debtors
505,610
592,390

Amounts owed by group undertakings
2,247,546
2,116,188

Other debtors
51,678
51,019

Prepayments and accrued income
15,860
17,766

2,820,694
2,777,363



9.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
299,993
292,946

Less: bank overdrafts
(1,593)
-


Page 9


COUNTY BUILDING SUPPLIES (EVESHAM) LIMITED

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

10.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank overdrafts
1,593
-

Trade creditors
650,732
800,714

Amounts owed to group undertakings
172,029
55,514

Corporation tax
-
93,580

Other taxation and social security
43,422
43,915

Obligations under finance lease and hire purchase contracts
27,722
20,972

Other creditors
259,382
244,129

Accruals and deferred income
13,224
15,382

1,168,104
1,274,206


Other creditors includes £262,445 (2022: £271,991) 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 obligaitions under finance leases are secured by fixed charges over the assets which they relate to.


11.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
65,961
60,421



12.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
27,722
20,972

Between 1-5 years
65,961
60,421

93,683
81,393

Page 10


COUNTY BUILDING SUPPLIES (EVESHAM) LIMITED

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

13.


DEFERRED TAXATION




2023


£






At beginning of year
(12,626)


Charged to profit or loss
(4,008)



AT END OF YEAR
(16,634)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(16,634)
(12,626)


14.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



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



15.


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 £29,846 (2022: £29,983). Contributions totalling £3,534 (2022: £3,538) were payable to the fund at the reporting date and are included in creditors.


16.


RELATED PARTY TRANSACTIONS


2023
2022
£
£

Purchase transactions with group companies
3,212,348
140,932
Sales transactions with group companies
252,082
170,478
Balances due from group companies
2,247,546
2,116,188
Balances due to group companies
172,029
55,513
Overheads recharged from group companies
119,890
119,315
Management charge paid to group companies
136,400
(94,385)
Dividends paid to group companies
42,404
50,857

Page 11


COUNTY BUILDING SUPPLIES (EVESHAM) LIMITED

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

17.


CONTROLLING PARTY

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


18.


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 12