Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-3148true2022-11-01falseNo description of principal activity51trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00391366 2022-11-01 2023-10-31 00391366 2021-11-01 2022-10-31 00391366 2023-10-31 00391366 2022-10-31 00391366 c:Director1 2022-11-01 2023-10-31 00391366 d:PlantMachinery 2022-11-01 2023-10-31 00391366 d:PlantMachinery 2023-10-31 00391366 d:PlantMachinery 2022-10-31 00391366 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 00391366 d:MotorVehicles 2022-11-01 2023-10-31 00391366 d:MotorVehicles 2023-10-31 00391366 d:MotorVehicles 2022-10-31 00391366 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 00391366 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 00391366 d:CurrentFinancialInstruments 2023-10-31 00391366 d:CurrentFinancialInstruments 2022-10-31 00391366 d:Non-currentFinancialInstruments 2023-10-31 00391366 d:Non-currentFinancialInstruments 2022-10-31 00391366 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 00391366 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 00391366 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 00391366 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 00391366 d:ShareCapital 2023-10-31 00391366 d:ShareCapital 2022-10-31 00391366 d:RetainedEarningsAccumulatedLosses 2023-10-31 00391366 d:RetainedEarningsAccumulatedLosses 2022-10-31 00391366 c:OrdinaryShareClass1 2022-11-01 2023-10-31 00391366 c:OrdinaryShareClass1 2023-10-31 00391366 c:OrdinaryShareClass1 2022-10-31 00391366 c:FRS102 2022-11-01 2023-10-31 00391366 c:IndependentExaminationCharity 2022-11-01 2023-10-31 00391366 c:FullAccounts 2022-11-01 2023-10-31 00391366 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 00391366 2 2022-11-01 2023-10-31 00391366 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 00391366









CUBITT THEOBALD LIMITED

FILLETED FINANCIAL STATEMENTS
For the year ended 31 OCTOBER 2023







































 
CUBITT THEOBALD LIMITED
REGISTERED NUMBER: 00391366

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
225,290
210,062

  
225,290
210,062

Current assets
  

Stocks
  
12,150
28,852

Debtors: amounts falling due within one year
 5 
1,066,371
1,489,944

Cash at bank and in hand
 6 
990,049
354,843

  
2,068,570
1,873,639

Creditors: amounts falling due within one year
 7 
(942,231)
(985,542)

Net current assets
  
 
 
1,126,339
 
 
888,097

Total assets less current liabilities
  
1,351,629
1,098,159

Creditors: amounts falling due after more than one year
 8 
(82,959)
(110,348)

Provisions for liabilities
  

Deferred tax
  
(55,408)
(51,625)

  
 
 
(55,408)
 
 
(51,625)

Net assets
  
1,213,262
936,186


Capital and reserves
  

Called up share capital 
  
1,900
1,900

Profit and loss account
  
1,211,362
934,286

  
1,213,262
936,186


Page 1

 
CUBITT THEOBALD LIMITED
REGISTERED NUMBER: 00391366
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 income and retained earnings 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: 




G C Cubitt
Director

Date: 29 July 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CUBITT THEOBALD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Cubitt Theobald Limited is a private company limited by shares and incorporated in England and Wales, registered number 00391366. The registered office is St Catherine's Road, Long Melford, Sudbury, Suffolk, CO10 9JU. 
The company provides building and contracting services.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 of the following conditions are satisfied:
the amount of turnover 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; and
the costs incurred and the costs to complete the contract can be measured reliably.

Turnover in respect of long term contracts is recognised based on costs plus attributable profits based on the stage of completion where these can be reasonably forseen. Provison is made for losses when forseen.

 
2.3

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
CUBITT THEOBALD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
CUBITT THEOBALD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
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 balance sheet 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 balance sheet 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 balance sheet 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line and reducing balance method..

Depreciation is provided on the following basis:

Plant and machinery
-
20 - 33% straight line
Motor vehicles
-
25% 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.

Page 5

 
CUBITT THEOBALD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.11

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 balance sheet 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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 48 (2022 - 51).

Page 6

 
CUBITT THEOBALD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 November 2022
824,744
379,011
1,203,755


Additions
51,172
24,299
75,471


Disposals
(18,750)
(22,541)
(41,291)



At 31 October 2023

857,166
380,769
1,237,935



Depreciation


At 1 November 2022
744,624
249,069
993,693


Charge for the year on owned assets
22,238
36,721
58,959


Disposals
(18,750)
(21,257)
(40,007)



At 31 October 2023

748,112
264,533
1,012,645



Net book value



At 31 October 2023
109,054
116,236
225,290



At 31 October 2022
80,120
129,942
210,062


5.


Debtors

2023
2022
£
£


Trade debtors
329,271
764,391

Other debtors
365,344
271,558

Prepayments and accrued income
15,789
12,934

Amounts recoverable on long-term contracts
355,967
441,061

1,066,371
1,489,944


Page 7

 
CUBITT THEOBALD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
990,049
354,843

990,049
354,843



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
30,000
30,000

Trade creditors
388,110
502,999

Other taxation and social security
301,203
287,715

Obligations under finance lease and hire purchase contracts
15,608
10,443

Other creditors
70,062
67,637

Accruals and deferred income
137,248
86,748

942,231
985,542



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
72,500
102,500

Net obligations under finance leases and hire purchase contracts
10,459
7,848

82,959
110,348



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,900 (2022 - 1,900) Ordinary shares of £1.00 each
1,900
1,900


Page 8

 
CUBITT THEOBALD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

10.


Contingent liabilities

The company is a member of a group VAT registration and as such has contingent liabilities for VAT in respect of other members of the VAT group. The balance sheet date the VAT liability for other members  totalled £18,366 (2022 - £24,247).


11.


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 £46,747 (2022 - £45,112). Contributions totalling £3,658 (2022 - £3,562) were payable to the fund at the balance sheet date and are included in creditors.


12.


Controlling party

The company's parent company is Laketons Limited and the ultimate controlling party is Cteot Limited.

 
Page 9