Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-012630falseshopfitting and specialist joinery servicestrue 00814419 2023-01-01 2023-12-31 00814419 2022-01-01 2022-12-31 00814419 2023-12-31 00814419 2022-12-31 00814419 c:Director1 2023-01-01 2023-12-31 00814419 d:Buildings 2023-01-01 2023-12-31 00814419 d:Buildings 2023-12-31 00814419 d:Buildings 2022-12-31 00814419 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00814419 d:Buildings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 00814419 d:PlantMachinery 2023-01-01 2023-12-31 00814419 d:PlantMachinery 2023-12-31 00814419 d:PlantMachinery 2022-12-31 00814419 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00814419 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 00814419 d:MotorVehicles 2023-01-01 2023-12-31 00814419 d:MotorVehicles 2023-12-31 00814419 d:MotorVehicles 2022-12-31 00814419 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00814419 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 00814419 d:FurnitureFittings 2023-01-01 2023-12-31 00814419 d:FurnitureFittings 2023-12-31 00814419 d:FurnitureFittings 2022-12-31 00814419 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00814419 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 00814419 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00814419 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 00814419 d:Goodwill 2023-12-31 00814419 d:Goodwill 2022-12-31 00814419 d:CurrentFinancialInstruments 2023-12-31 00814419 d:CurrentFinancialInstruments 2022-12-31 00814419 d:Non-currentFinancialInstruments 2023-12-31 00814419 d:Non-currentFinancialInstruments 2022-12-31 00814419 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00814419 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00814419 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 00814419 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 00814419 d:ShareCapital 2023-12-31 00814419 d:ShareCapital 2022-12-31 00814419 d:CapitalRedemptionReserve 2023-01-01 2023-12-31 00814419 d:CapitalRedemptionReserve 2023-12-31 00814419 d:CapitalRedemptionReserve 2022-12-31 00814419 d:RevaluationReserve 2023-01-01 2023-12-31 00814419 d:RevaluationReserve 2023-12-31 00814419 d:RevaluationReserve 2022-12-31 00814419 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 00814419 d:RetainedEarningsAccumulatedLosses 2023-12-31 00814419 d:RetainedEarningsAccumulatedLosses 2022-12-31 00814419 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-01-01 2023-12-31 00814419 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 00814419 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-12-31 00814419 c:FRS102 2023-01-01 2023-12-31 00814419 c:Audited 2023-01-01 2023-12-31 00814419 c:FullAccounts 2023-01-01 2023-12-31 00814419 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00814419 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 00814419 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 00814419 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 00814419 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 00814419 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00814419 2 2023-01-01 2023-12-31 00814419 5 2023-01-01 2023-12-31 00814419 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 00814419 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 00814419 d:LeasedAssetsHeldAsLessee 2023-12-31 00814419 d:LeasedAssetsHeldAsLessee 2022-12-31 00814419 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 00814419










CHARLES EVANS SHOPFITTERS LIMITED










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CHARLES EVANS SHOPFITTERS LIMITED
REGISTERED NUMBER: 00814419

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 6 
2,134,614
2,048,842

  
2,134,614
2,048,842

Current assets
  

Stocks
  
7,389
13,389

Debtors: amounts falling due within one year
 7 
1,673,580
2,694,067

Cash at bank and in hand
 8 
1,181,199
312,304

  
2,862,168
3,019,760

Creditors: amounts falling due within one year
 9 
(3,345,680)
(2,722,524)

Net current (liabilities)/assets
  
 
 
(483,512)
 
 
297,236

Total assets less current liabilities
  
1,651,102
2,346,078

Creditors: amounts falling due after more than one year
 10 
(40,917)
(71,679)

Provisions for liabilities
  

Deferred tax
  
(77,056)
(61,538)

Other provisions
 12 
(127,800)
(131,800)

  
 
 
(204,856)
 
 
(193,338)

Net assets
  
1,405,329
2,081,061


Capital and reserves
  

Called up share capital 
  
3,500
3,500

Revaluation reserve
 13 
434,194
434,194

Capital redemption reserve
 13 
500
500

Profit and loss account
 13 
967,135
1,642,867

  
1,405,329
2,081,061


Page 1

 
CHARLES EVANS SHOPFITTERS LIMITED
REGISTERED NUMBER: 00814419
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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 on 7 August 2024.






P. McGregor
Director

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
CHARLES EVANS SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Charles Evans Shopfitters Limited is a private limited company incorporated in England and Wales.  Its registered office is Venture Point Business Park, Evans Road, Liverpool, Merseyside, L24 9PB.  The company number is 00814419.
The principal activity of the company is shopfitting and specialist joinery 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 financial statements are presented in Sterling (£).

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Group depends on its existing bank facilities to meet its day to day working capital requirements. Current forecasts indicate that the Group expects to be able to operate within these facilities for whole of the foreseeable future. These facilities are renewed annually and are not guaranteed for the period covered by the going concern review. The Directors are not aware, however, of any circumstances that may adversely affect the renewal of these facilities. Accordingly, the directors believe it is appropriate to prepare the financial statements on the going concern basis.

Page 3

 
CHARLES EVANS SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

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

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of 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 of 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; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

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.

Page 4

 
CHARLES EVANS SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Plant & machinery
-
20% straight line and 25% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures, fittings and equipment
-
20% straight line

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.

 
2.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

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 reporting 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.

 
2.8

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.

Page 5

 
CHARLES EVANS SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.14

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.

 
2.15

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 6

 
CHARLES EVANS SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.16

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.17

Interest income

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

 
2.18

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.

 
2.19

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 reporting 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 reporting 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 reporting date.

Page 7

 
CHARLES EVANS SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 26 (2022 - 30).


4.


Dividends

2023
2022
£
£

Ordinary


Dividends paid
800,000
1,500,000

800,000
1,500,000


5.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
42,754



At 31 December 2023

42,754



Amortisation


At 1 January 2023
42,754



At 31 December 2023

42,754



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 8

 
CHARLES EVANS SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Tangible fixed assets





Freehold property
Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
2,000,000
474,580
236,689
265,967
2,977,236


Additions
-
87,595
89,308
3,450
180,353


Disposals
-
-
(15,594)
-
(15,594)



At 31 December 2023

2,000,000
562,175
310,403
269,417
3,141,995



Depreciation


At 1 January 2023
71,821
473,941
123,542
259,089
928,393


Charge for the year on owned assets
49,032
3,835
5,490
3,664
62,021


Charge for the year on financed assets
-
-
32,561
-
32,561


Disposals
-
-
(15,594)
-
(15,594)



At 31 December 2023

120,853
477,776
145,999
262,753
1,007,381



Net book value



At 31 December 2023
1,879,147
84,399
164,404
6,664
2,134,614



At 31 December 2022
1,928,179
638
113,146
6,879
2,048,842

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
76,572
109,133

76,572
109,133

Page 9

 
CHARLES EVANS SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Cost or valuation at 31 December 2023 is as follows:

Land and buildings
£


At cost
2,086,986
At valuation:

On 24 May 2021 by Colliers International Valuation UK LLP on market value basis
(86,986)



2,000,000

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2023
2022
£
£



Cost
2,086,986
2,086,986

Accumulated depreciation
(630,733)
(594,215)

Net book value
1,456,253
1,492,771

Page 10

 
CHARLES EVANS SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
1,232,594
834,346

Amounts owed by group undertakings
64,694
766,257

Other debtors
2,505
24,060

Prepayments and accrued income
99,737
37,081

Amounts recoverable on long term contracts
274,050
1,032,323

1,673,580
2,694,067


Amounts owed by group undertakings relate to amounts due from the Company's ultimate parent company, which is a non-trading company without the means to clear the loans other than through the declaration of a dividend from the Company.


8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,181,199
312,304

1,181,199
312,304



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,997,262
1,749,047

Corporation tax
13,175
18,598

Other taxation and social security
830,972
539,902

Obligations under finance lease and hire purchase contracts
30,762
30,762

Other creditors
43,560
43,287

Accruals and deferred income
429,949
340,928

3,345,680
2,722,524


Obligations under finance lease and hire purchase contracts are secured on the assets concerned.

Page 11

 
CHARLES EVANS SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
40,917
71,679

40,917
71,679


Obligations under finance lease and hire purchase contracts are secured on the assets concerned.


11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
34,665
34,665

Between 1-5 years
44,234
78,899

78,899
113,564


12.


Provisions




Grants

£





At 1 January 2023
131,800


Utilised in year
(4,000)



At 31 December 2023
127,800

The grants relate to assistance with the construction of the building and the acquisition of plant and machinery. Both are being released over their estimated useful lives.

Page 12

 
CHARLES EVANS SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Reserves

Revaluation reserve

The revaluation reserve represents the gain on the revaluation of freehold land and buildings.

Capital redemption reserve

This is a non-distributable reserve representing paid up share capital.  

Profit & loss account

Includes all current and prior period retained profits and losses. 


14.


Contingent liabilities

At 31 December 2023, the company has given a cross guarantee to Charles Evans Construction Limited. At this date, the liabilities in Charles Evans Construction Limited which are guaranteed amount to £602,569 (2022 - £661,052).


15.


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.


16.


Controlling party

The immediate parent undertaking of the company is Charles Evans Group Limited, a company registered in England and Wales. The ultimate parent undertaking is Charles Evans Construction Limited, a company registered in England and Wales.  Charles Evans Construction Limited prepares consolidated financial statements and copies are available from Companies House.
The controlling party of the company is P. McGregor.


17.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 7 August 2024 by Stephen Talbot (Senior statutory auditor) on behalf of Langtons Professional Services Limited.

 
Page 13