Company Registration No. 01886176 (England and Wales)
COURTSTALL SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
COURTSTALL SERVICES LIMITED
COMPANY INFORMATION
Directors
Mr P Dolan
Mr C Page
Secretary
Mrs L Page
Company number
01886176
Registered office
Unit 1, North Avon Business Centre
Dean Road
Yate
Bristol
BS37 5NH
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
COURTSTALL SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
COURTSTALL SERVICES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
333,241
402,091
Current assets
Stocks
497,588
485,189
Debtors
5
346,454
189,898
Cash at bank and in hand
144,928
188,098
988,970
863,185
Creditors: amounts falling due within one year
6
(1,179,890)
(1,099,011)
Net current liabilities
(190,920)
(235,826)
Total assets less current liabilities
142,321
166,265
Creditors: amounts falling due after more than one year
7
(35,417)
(60,417)
Provisions for liabilities
8
(20,000)
(20,000)
Net assets
86,904
85,848
Capital and reserves
Called up share capital
9
10,000
10,000
Capital redemption reserve
10,000
10,000
Profit and loss reserves
66,904
65,848
Total equity
86,904
85,848
COURTSTALL SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 19 April 2024 and are signed on its behalf by:
Mr C Page
Director
Company Registration No. 01886176
COURTSTALL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Courtstall Services Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Land and buildings Leasehold
No depreciation
Plant and machinery
Over 2 to 4 years straight line
Fixtures, fittings & equipment
Over 4 years straight line
Motor vehicles
Over 4 years straight line
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.
1.4
Stocks
Stocks are stated at the lower of cost and net realisable value.
Work in progress represents contract work in progress which is stated at net realisable value.
COURTSTALL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
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.
1.6
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
1.8
Provisions
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 24 (2022 - 24).
COURTSTALL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
9,146
(5,202)
Of the charge to current tax in relation to discontinued operations, £0 relates to tax on profits and £0 arose on disposal.
The actual charge/(credit) for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:
2023
2022
£
£
Profit before taxation
58,202
68,648
Expected tax charge based on the standard rate of corporation tax in the UK of 19.00% (2022: 19.00%)
11,058
13,043
Tax effect of expenses that are not deductible in determining taxable profit
799
188
Depreciation add back
9,227
10,718
Capital allowances/(balancing charge)
(3,705)
(29,912)
Chargeable gains
6,904
Profit/loss on disposals
(15,137)
761
Taxation for the year
9,146
(5,202)
COURTSTALL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
4
Tangible fixed assets
Land and buildings Leasehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023
271,303
164,697
35,595
197,572
669,167
Additions
1,539
16,650
18,189
Disposals
(38,300)
(3,060)
(16,112)
(57,472)
At 31 December 2023
233,003
164,697
34,074
198,110
629,884
Depreciation and impairment
At 1 January 2023
114,591
34,025
118,460
267,076
Depreciation charged in the year
16,300
867
31,400
48,567
Eliminated in respect of disposals
(3,000)
(16,000)
(19,000)
At 31 December 2023
130,891
31,892
133,860
296,643
Carrying amount
At 31 December 2023
233,003
33,806
2,182
64,250
333,241
At 31 December 2022
271,303
50,106
1,569
79,113
402,091
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
205,513
80,640
Corporation tax recoverable
5,202
Other debtors
136,656
101,656
Prepayments and accrued income
4,285
2,400
346,454
189,898
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
25,000
25,000
Payments received on account
905,164
829,424
Trade creditors
70,678
83,321
Corporation tax
9,146
Other taxation and social security
88,552
72,516
Other creditors
4,750
2,750
Accruals and deferred income
76,600
86,000
1,179,890
1,099,011
COURTSTALL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
35,417
60,417
8
Provisions for liabilities
2023
2022
£
£
Other
20,000
20,000
9
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
10,000 Ordinary of £1 each
10,000
10,000
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