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COMPANY REGISTRATION NUMBER: 03590312
The Concrete and Corrosion Consultancy Practice Limited
Filleted Unaudited Financial Statements
30 November 2023
The Concrete and Corrosion Consultancy Practice Limited
Financial Statements
Year ended 30 November 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
The Concrete and Corrosion Consultancy Practice Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
76,535
96,299
Current assets
Stocks
1,000
1,000
Debtors
6
610,613
642,774
Cash at bank and in hand
60,766
89,494
---------
---------
672,379
733,268
Creditors: amounts falling due within one year
7
564,178
538,455
---------
---------
Net current assets
108,201
194,813
---------
---------
Total assets less current liabilities
184,736
291,112
Creditors: amounts falling due after more than one year
8
28,040
89,418
Provisions
19,134
18,297
---------
---------
Net assets
137,562
183,397
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
137,560
183,395
---------
---------
Shareholders funds
137,562
183,397
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
The Concrete and Corrosion Consultancy Practice Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 19 August 2024 , and are signed on behalf of the board by:
M Nugent
Director
Company registration number: 03590312
The Concrete and Corrosion Consultancy Practice Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Crown House John Roberts Business Park, Pean Hill, Canterbury, CT5 3BJ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Work in progress is calculated based upon the stage of completion of projects at the year end.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 8 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 December 2022
86,592
132,251
218,843
Additions
3,387
3,387
--------
---------
---------
At 30 November 2023
89,979
132,251
222,230
--------
---------
---------
Depreciation
At 1 December 2022
57,551
64,993
122,544
Charge for the year
6,337
16,814
23,151
--------
---------
---------
At 30 November 2023
63,888
81,807
145,695
--------
---------
---------
Carrying amount
At 30 November 2023
26,091
50,444
76,535
--------
---------
---------
At 30 November 2022
29,041
67,258
96,299
--------
---------
---------
6. Debtors
2023
2022
£
£
Trade debtors
74,928
189,603
Other debtors
535,685
453,171
---------
---------
610,613
642,774
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
15,000
15,000
Trade creditors
63,795
38,303
Corporation tax
58,176
83,192
Social security and other taxes
364,870
298,282
Other creditors
1,702
Other creditors
62,337
101,976
---------
---------
564,178
538,455
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
23,750
28,242
Other creditors
4,290
61,176
--------
--------
28,040
89,418
--------
--------
9. Directors' advances, credits and guarantees
During the year, a director received advances of £43,824 (2022: £23,791) and repaid amounts of £Nil (2022: £Nil). At the balance sheet date, the director owed the company £347,388 (2022: £297,612). Interest of £6,948 (2022: £5,952) was charged on the balance. During the year, a director received advances of £Nil (2022: £23,000) and repaid amounts of £Nil (2022: £1,000). At the balance sheet date, the director owed the company £38,249 (2022: £37,499). Interest of £765 (2022: £750) was charged on the balance. During the year, a director received advances of £Nil (2022: £2,500). At the balance sheet date, a director owed the company £8,466 (2022: £8,300). Interest of £169 (2022: £166) was charged on the balance.