Company No:
Contents
Note | 31.12.2023 | 31.12.2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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32,408 | 36,539 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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16,468 | 42,892 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (91,628) | (86,379) | ||
Total assets less current liabilities | (59,220) | (49,840) | ||
Creditors: amounts falling due after more than one year | 6 | (
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Net liabilities | (
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account | (
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Total shareholder's deficit | (
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Director's responsibilities:
The financial statements of Churchwood Construction Ltd (registered number:
T J Tobin-Webster
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Churchwood Construction Ltd (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 Leanne House 6 Avon Close, Weymouth, Dorset, DT4 9UX, 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 £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £96,205. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
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.
Plant and machinery |
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Vehicles |
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Computer equipment |
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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.
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.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Year ended 31.12.2023 |
Period from 01.06.2022 to 31.12.2022 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Plant and machinery | Vehicles | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 January 2023 |
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Additions |
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At 31 December 2023 |
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Accumulated depreciation | |||||||
At 01 January 2023 |
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Charge for the financial year |
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At 31 December 2023 |
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Net book value | |||||||
At 31 December 2023 |
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At 31 December 2022 |
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31.12.2023 | 31.12.2022 | ||
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Trade debtors |
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Amounts owed by related parties |
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Other taxation and social security |
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Other debtors |
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31.12.2023 | 31.12.2022 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Other taxation and social security |
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Obligations under finance leases and hire purchase contracts (secured) |
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Other creditors |
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31.12.2023 | 31.12.2022 | ||
£ | £ | ||
Bank loans |
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Obligations under finance leases and hire purchase contracts (secured) |
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Transactions with the entity's director
During the year the director maintained an interest free loan with the company which is repayable on demand. At the balance sheet date the company owed the director £52,963 (2022 - £103,081).
Other related party transactions
During the year the company provided services to another connected company, which was conducted at open market value.