Silverfin false 31/03/2023 01/04/2022 31/03/2023 C R Thatcher 04/02/2010 20 March 2024 The principal activity of the Company during the financial year was the supply of specialist utility services to the water industry. 07146394 2023-03-31 07146394 bus:Director1 2023-03-31 07146394 2022-03-31 07146394 core:CurrentFinancialInstruments 2023-03-31 07146394 core:CurrentFinancialInstruments 2022-03-31 07146394 core:Non-currentFinancialInstruments 2023-03-31 07146394 core:Non-currentFinancialInstruments 2022-03-31 07146394 core:ShareCapital 2023-03-31 07146394 core:ShareCapital 2022-03-31 07146394 core:RetainedEarningsAccumulatedLosses 2023-03-31 07146394 core:RetainedEarningsAccumulatedLosses 2022-03-31 07146394 core:PlantMachinery 2022-03-31 07146394 core:Vehicles 2022-03-31 07146394 core:PlantMachinery 2023-03-31 07146394 core:Vehicles 2023-03-31 07146394 core:CurrentFinancialInstruments 1 2023-03-31 07146394 core:CurrentFinancialInstruments 1 2022-03-31 07146394 2022-04-01 2023-03-31 07146394 bus:FullAccounts 2022-04-01 2023-03-31 07146394 bus:SmallEntities 2022-04-01 2023-03-31 07146394 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07146394 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07146394 bus:Director1 2022-04-01 2023-03-31 07146394 core:PlantMachinery 2022-04-01 2023-03-31 07146394 core:Vehicles 2022-04-01 2023-03-31 07146394 2021-04-01 2022-03-31 07146394 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 07146394 (England and Wales)

CTC CIVILS & UTILITIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

CTC CIVILS & UTILITIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

CTC CIVILS & UTILITIES LIMITED

BALANCE SHEET

As at 31 March 2023
CTC CIVILS & UTILITIES LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 66,546 54,153
66,546 54,153
Current assets
Debtors 4 18,291 32,426
Cash at bank and in hand 8,906 8,892
27,197 41,318
Creditors: amounts falling due within one year 5 ( 35,491) ( 36,567)
Net current (liabilities)/assets (8,294) 4,751
Total assets less current liabilities 58,252 58,904
Creditors: amounts falling due after more than one year 6 ( 11,221) ( 688)
Provision for liabilities 7 ( 12,644) ( 13,538)
Net assets 34,387 44,678
Capital and reserves
Called-up share capital 100 100
Profit and loss account 34,287 44,578
Total shareholder's funds 34,387 44,678

For the financial 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.

Director's responsibilities:

The financial statements of CTC Civils & Utilities Limited (registered number: 07146394) were approved and authorised for issue by the Director on 20 March 2024. They were signed on its behalf by:

C R Thatcher
Director
CTC CIVILS & UTILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
CTC CIVILS & UTILITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

CTC Civils & Utilities Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hendford Manor, Hendford, Yeovil, BA20 1UN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Turnover is based on the stage of completion and is recognised when provision of the service has commenced.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 April 2022 110,464 44,131 154,595
Additions 32,863 5,050 37,913
Disposals ( 5,500) ( 15,500) ( 21,000)
At 31 March 2023 137,827 33,681 171,508
Accumulated depreciation
At 01 April 2022 67,250 33,192 100,442
Charge for the financial year 16,687 2,102 18,789
Disposals ( 2,370) ( 11,899) ( 14,269)
At 31 March 2023 81,567 23,395 104,962
Net book value
At 31 March 2023 56,260 10,286 66,546
At 31 March 2022 43,214 10,939 54,153

4. Debtors

2023 2022
£ £
Trade debtors 0 25,151
Other debtors 18,291 7,275
18,291 32,426

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank overdrafts 0 10,387
Trade creditors 9,109 2,961
Corporation tax 3,571 13,044
CIS withheld 4,841 0
Other taxation and social security 6,917 0
Obligations under finance leases and hire purchase contracts (secured) 5,497 4,417
Other creditors 5,556 5,758
35,491 36,567

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts (secured) 11,221 688

The obligations under hire purchase contracts are secured on the assets concerned which are included within plant and machinery. At the balance sheet date the net book value of these assets was £31,827 (2022 - £3,678).

7. Provision for liabilities

2023 2022
£ £
Deferred tax 12,644 13,538

8. Related party transactions

Transactions with the entity's director

Advances

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 April 2022, the balance owed by the director was £5,147. During the year, £57,398 was advanced to the director, and £48,780 was repaid by the director. At 31 March 2023, the balance owed by the director was £13,765.

At 1 April 2021, the balance owed by the director was £4,378. During the year, £45,215 was advanced to the director, and £44,446 was repaid by the director. At 31 March 2022, the balance owed by the director was £5,147.