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Company No: 12016148 (England and Wales)

CHURCHWOOD CONSTRUCTION LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

CHURCHWOOD CONSTRUCTION LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

CHURCHWOOD CONSTRUCTION LTD

BALANCE SHEET

As at 31 December 2023
CHURCHWOOD CONSTRUCTION LTD

BALANCE SHEET (continued)

As at 31 December 2023
Note 31.12.2023 31.12.2022
£ £
Fixed assets
Tangible assets 3 32,408 36,539
32,408 36,539
Current assets
Debtors 4 14,094 42,869
Cash at bank and in hand 2,374 23
16,468 42,892
Creditors: amounts falling due within one year 5 ( 108,096) ( 129,271)
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 ( 36,985) ( 62,060)
Net liabilities ( 96,205) ( 111,900)
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 96,206 ) ( 111,901 )
Total shareholder's deficit ( 96,205) ( 111,900)

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 financial statements of Churchwood Construction Ltd (registered number: 12016148) were approved and authorised for issue by the Director on 02 August 2024. They were signed on its behalf by:

T J Tobin-Webster
Director
CHURCHWOOD CONSTRUCTION LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
CHURCHWOOD CONSTRUCTION LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Computer equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

Year ended
31.12.2023
Period from
01.06.2022 to
31.12.2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 January 2023 0 76,048 0 76,048
Additions 1,519 0 4,582 6,101
At 31 December 2023 1,519 76,048 4,582 82,149
Accumulated depreciation
At 01 January 2023 0 39,509 0 39,509
Charge for the financial year 181 9,135 916 10,232
At 31 December 2023 181 48,644 916 49,741
Net book value
At 31 December 2023 1,338 27,404 3,666 32,408
At 31 December 2022 0 36,539 0 36,539

4. Debtors

31.12.2023 31.12.2022
£ £
Trade debtors 13,590 13,590
Amounts owed by related parties 0 3,450
Other taxation and social security 0 591
Other debtors 504 25,238
14,094 42,869

5. Creditors: amounts falling due within one year

31.12.2023 31.12.2022
£ £
Bank loans 10,000 10,000
Trade creditors 7,753 0
Other taxation and social security 19,026 0
Obligations under finance leases and hire purchase contracts (secured) 15,853 13,689
Other creditors 55,464 105,582
108,096 129,271

Hire purchases included in the above are secured against the asset to which they relate to.

6. Creditors: amounts falling due after more than one year

31.12.2023 31.12.2022
£ £
Bank loans 20,928 30,928
Obligations under finance leases and hire purchase contracts (secured) 16,057 31,132
36,985 62,060

Hire purchases included in the above are secured against the asset to which they relate to.

7. Related party transactions

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.