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Registration number: 10529763

Caborn & Lloyd Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Caborn & Lloyd Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Caborn & Lloyd Ltd

Company Information

Director

D C Lloyd

Registered office

Studio 5
179 Whiteladies Road
Clifton
Bristol
BS8 2AG

Accountants

Burton Sweet Limited
Chartered Accountants
Spencer House
Morston Court
Aiescome Way
Weston Super Mare
North Somerset
BS22 8NG

 

Caborn & Lloyd Ltd

(Registration number: 10529763)
Balance Sheet
31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

32,106

9,414

Current assets

 

Debtors

5

1,432

-

Cash at bank and in hand

 

9,573

19,080

 

11,005

19,080

Creditors: Amounts falling due within one year

6

(9,946)

(15,600)

Net current assets

 

1,059

3,480

Total assets less current liabilities

 

33,165

12,894

Creditors: Amounts falling due after more than one year

6

(26,866)

(9,000)

Provisions for liabilities

(6,101)

(1,789)

Net assets

 

198

2,105

Capital and reserves

 

Called up share capital

2

2

Retained earnings

196

2,103

Shareholders' funds

 

198

2,105

 

Caborn & Lloyd Ltd

(Registration number: 10529763)
Balance Sheet
31 December 2023

For the financial year ending 31 December 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 12 April 2024
 

.........................................
D C Lloyd
Director

 

Caborn & Lloyd Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Studio 5
179 Whiteladies Road
Clifton
Bristol
BS8 2AG
United Kingdom

These financial statements were authorised for issue by the director on 12 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Caborn & Lloyd Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current corporation 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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

20% Reducing Balance

 

Caborn & Lloyd Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

Vehicles

25% Reducing Balance

Office equipment

25% Reducing Balance

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

 

Caborn & Lloyd Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Caborn & Lloyd Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

20,975

2,193

7,993

31,161

Additions

-

-

32,946

32,946

At 31 December 2023

20,975

2,193

40,939

64,107

Depreciation

At 1 January 2023

14,218

959

6,570

21,747

Charge for the year

1,352

309

8,593

10,254

At 31 December 2023

15,570

1,268

15,163

32,001

Carrying amount

At 31 December 2023

5,405

925

25,776

32,106

At 31 December 2022

6,757

1,234

1,423

9,414

5

Debtors

2023
£

2022
£

Other debtors

1,432

-

1,432

-

 

Caborn & Lloyd Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

6,140

-

Taxation and social security

 

2,306

11,208

Other creditors

 

1,500

4,392

 

9,946

15,600

Due after one year

 

Loans and borrowings

7

26,866

9,000

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

26,866

9,000

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

3,960

9,000

Hire purchase contracts

22,906

-

26,866

9,000

 

Caborn & Lloyd Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

2,640

-

Hire purchase contracts

3,500

-

6,140

-