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Registered Number: 10435320
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 October 2023

for

COMPLETE WORKS PLYMOUTH LTD

Directors Mr A McGowan
Mrs A McGowan
Registered Number 10435320
Registered Office 20A Ford Hill
Stoke
Plymouth
Devon
PL2 1HN
Accountants Griffiths & Co
8 Hoopers Close
Landrake
Saltash
Cornwall
PL12 5DN
1
Directors' report and financial statements
The directors present their annual report and the financial statements for the year ended 31 October 2023.
Directors
The directors who served the company throughout the year were as follows:
Mr A McGowan
Mrs A McGowan
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Mrs A McGowan
Director

Date approved: 28 July 2024
2
Accountants' report
You consider that the company is exempt from an audit for the year ended 31 October 2023. You have acknowledged, on the Statement of Financial Position, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.


In accordance with your instructions, we have prepared these accounts and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently, we do not express any opinion on these accounts.


Griffiths & Co
8 Hoopers Close
Landrake
Saltash
Cornwall
PL12 5DN
28 July 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 25,883    27,874 
Tangible fixed assets 4 19,112    17,713 
44,995    45,587 
Current assets      
Stocks 5 2,741    4,785 
Debtors 6 19,204    21,188 
Cash at bank and in hand 21,616    12,691 
43,561    38,664 
Creditors: amount falling due within one year 7 (57,281)   (68,123)
Net current assets (13,720)   (29,459)
 
Total assets less current liabilities 31,275    16,128 
Provisions for liabilities 8 (3,203)   (2,795)
Net assets 28,072    13,333 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 28,070    13,331 
Shareholders' funds 28,072    13,333 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 28 July 2024 and were signed on its behalf by:


-------------------------------
Mrs A McGowan
Director
4
General Information
Complete Works Plymouth Ltd is a private company, limited by shares, registered in England and Wales, registration number 10435320, registration address 20A Ford Hill, Stoke, Plymouth, Devon, PL2 1HN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and VAT. Turnover includes revenue earned from rendering services.
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all the following conditions are satisfied:
  • the amount of revenue can be measured reliably
  • it is probable that the company will receive the consideration due under the contract
  • the stage of completion of the contract at the end of the reporting period can be measured reliably
  • the costs incurred and the costs to complete the contract can be measured reliably
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company's liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Goodwill represents the amount paid in connection with the acquisition of a business in 2016 and is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Improvements to property 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period they relate to.
2.

Average number of employees

Average number of employees during the year was 5 (2022 : 5).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 November 2022 39,820    39,820 
Additions  
Disposals  
At 31 October 2023 39,820    39,820 
Amortisation
At 01 November 2022 11,946    11,946 
Charge for year 1,991    1,991 
On disposals  
At 31 October 2023 13,937    13,937 
Net book values
At 31 October 2023 25,883    25,883 
At 31 October 2022 27,874    27,874 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Improvements to property   Total
  £   £   £   £
At 01 November 2022 25,032    11,554    3,752    40,338 
Additions 5,378        5,378 
Disposals      
At 31 October 2023 30,410    11,554    3,752    45,716 
Depreciation
At 01 November 2022 12,490    9,384    750    22,624 
Charge for year 2,688    542    750    3,980 
On disposals      
At 31 October 2023 15,178    9,926    1,500    26,604 
Net book values
Closing balance as at 31 October 2023 15,232    1,628    2,252    19,112 
Opening balance as at 01 November 2022 12,542    2,170    3,001    17,713 


5.

Stocks

2023
£
  2022
£
Stocks 2,741    4,785 
2,741    4,785 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 15,780    15,000 
Prepayments and Accrued Income 3,424    6,171 
Other Debtors   17 
19,204    21,188 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 4,801    4,022 
Taxation and Social Security 13,945    10,995 
Other Creditors 38,535    53,106 
57,281    68,123 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 3,203    2,795 
3,203    2,795 

5