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Registered number: 08425999
Carr Construction And Restoration Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Lemmer and Company
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08425999
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 293,341 307,026
Investments 5 50 50
293,391 307,076
CURRENT ASSETS
Stocks 6 246,334 169,771
Debtors 7 197,052 271,650
Cash at bank and in hand 416,525 463,027
859,911 904,448
Creditors: Amounts Falling Due Within One Year 8 (259,875 ) (305,027 )
NET CURRENT ASSETS (LIABILITIES) 600,036 599,421
TOTAL ASSETS LESS CURRENT LIABILITIES 893,427 906,497
PROVISIONS FOR LIABILITIES
Deferred Taxation (56,939 ) (61,405 )
NET ASSETS 836,488 845,092
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 836,486 845,090
SHAREHOLDERS' FUNDS 836,488 845,092
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Carr
Director
5 August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Carr Construction And Restoration Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08425999 . The registered office is 5 Bective Road, Kirkby Lonsdale, Cumbria, LA6 2BG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Plant & Machinery 20%
Motor Vehicles 20%
Fixtures & Fittings 20%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
Page 3
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2023 78,915 448,202 201,516 11,368 740,001
Additions 434 154,368 8,300 - 163,102
Disposals - (116,065 ) (5,531 ) - (121,596 )
As at 31 March 2024 79,349 486,505 204,285 11,368 781,507
Depreciation
As at 1 April 2023 - 307,324 118,129 7,522 432,975
Provided during the period - 37,191 17,231 769 55,191
As at 31 March 2024 - 344,515 135,360 8,291 488,166
Net Book Value
As at 31 March 2024 79,349 141,990 68,925 3,077 293,341
As at 1 April 2023 78,915 140,878 83,387 3,846 307,026
5. Investments
Unlisted
£
Cost
As at 1 April 2023 50
As at 31 March 2024 50
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 50
As at 1 April 2023 50
6. Stocks
2024 2023
£ £
Stock 84,771 84,771
Work in progress 161,563 85,000
246,334 169,771
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 197,052 271,650
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Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 180,464 206,912
Bank loans and overdrafts 772 -
Other taxes and social security 30,483 18,594
VAT 47,824 78,648
Directors' loan accounts 332 873
259,875 305,027
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 5