Silverfin false false 31/08/2023 01/09/2022 31/08/2023 Miss L Allen 26/11/2019 Mr P Allen 16/08/1999 Mr R Allen 27/07/2012 19 August 2024 The Company's principal activity is to do the building repairs and maintenance activities. 03826054 2023-08-31 03826054 bus:Director1 2023-08-31 03826054 bus:Director2 2023-08-31 03826054 bus:Director3 2023-08-31 03826054 2022-08-31 03826054 core:CurrentFinancialInstruments 2023-08-31 03826054 core:CurrentFinancialInstruments 2022-08-31 03826054 core:ShareCapital 2023-08-31 03826054 core:ShareCapital 2022-08-31 03826054 core:OtherCapitalReserve 2023-08-31 03826054 core:OtherCapitalReserve 2022-08-31 03826054 core:RetainedEarningsAccumulatedLosses 2023-08-31 03826054 core:RetainedEarningsAccumulatedLosses 2022-08-31 03826054 core:LeaseholdImprovements 2022-08-31 03826054 core:PlantMachinery 2022-08-31 03826054 core:Vehicles 2022-08-31 03826054 core:FurnitureFittings 2022-08-31 03826054 core:ComputerEquipment 2022-08-31 03826054 core:LeaseholdImprovements 2023-08-31 03826054 core:PlantMachinery 2023-08-31 03826054 core:Vehicles 2023-08-31 03826054 core:FurnitureFittings 2023-08-31 03826054 core:ComputerEquipment 2023-08-31 03826054 2022-09-01 2023-08-31 03826054 bus:FilletedAccounts 2022-09-01 2023-08-31 03826054 bus:SmallEntities 2022-09-01 2023-08-31 03826054 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 03826054 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 03826054 bus:Director1 2022-09-01 2023-08-31 03826054 bus:Director2 2022-09-01 2023-08-31 03826054 bus:Director3 2022-09-01 2023-08-31 03826054 core:LeaseholdImprovements core:TopRangeValue 2022-09-01 2023-08-31 03826054 core:PlantMachinery 2022-09-01 2023-08-31 03826054 core:Vehicles 2022-09-01 2023-08-31 03826054 core:FurnitureFittings core:TopRangeValue 2022-09-01 2023-08-31 03826054 core:ComputerEquipment 2022-09-01 2023-08-31 03826054 2021-09-01 2022-08-31 03826054 core:LeaseholdImprovements 2022-09-01 2023-08-31 03826054 core:FurnitureFittings 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Company No: 03826054 (England and Wales)

CAPITAL MAINTENANCE LIMITED

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

CAPITAL MAINTENANCE LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

CAPITAL MAINTENANCE LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2023
CAPITAL MAINTENANCE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2023
DIRECTORS Miss L Allen
Mr P Allen
Mr R Allen
SECRETARY Mr P Allen
REGISTERED OFFICE 1st Floor Rear
207 Regent Street
London
W1B 4ND
England
United Kingdom
COMPANY NUMBER 03826054 (England and Wales)
CHARTERED ACCOUNTANTS GRAVITA III LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
CAPITAL MAINTENANCE LIMITED

BALANCE SHEET

As at 31 August 2023
CAPITAL MAINTENANCE LIMITED

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 53,939 52,761
53,939 52,761
Current assets
Stocks 49,566 35,150
Debtors 4 2,530,868 1,976,877
Cash at bank and in hand 2,017,984 1,296,183
4,598,418 3,308,210
Creditors: amounts falling due within one year 5 ( 2,021,827) ( 1,578,327)
Net current assets 2,576,591 1,729,883
Total assets less current liabilities 2,630,530 1,782,644
Provision for liabilities ( 13,485) ( 13,190)
Net assets 2,617,045 1,769,454
Capital and reserves
Called-up share capital 100 100
Other reserves ( 81 ) 0
Profit and loss account 2,617,026 1,769,354
Total shareholders' funds 2,617,045 1,769,454

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Capital Maintenance Limited (registered number: 03826054) were approved and authorised for issue by the Board of Directors on 19 August 2024. They were signed on its behalf by:

Mr R Allen
Director
CAPITAL MAINTENANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
CAPITAL MAINTENANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 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 year, unless otherwise stated.

General information and basis of accounting

Capital Maintenance Limited (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 1st Floor Rear, 207 Regent Street, London, W1B 4ND, England, United Kingdom.

These financial statement have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statement are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable 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.

Revenue from contracts for the provision of property maintenance services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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:

Leasehold improvements 3 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 4 years straight line
Computer equipment 25 % 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 45 34

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £ £
Cost
At 01 September 2022 23,913 22,924 80,484 17,494 33,493 178,308
Additions 0 0 0 793 16,934 17,727
At 31 August 2023 23,913 22,924 80,484 18,287 50,427 196,035
Accumulated depreciation
At 01 September 2022 23,913 18,836 61,354 9,216 12,228 125,547
Charge for the financial year 0 1,022 4,782 4,059 6,686 16,549
At 31 August 2023 23,913 19,858 66,136 13,275 18,914 142,096
Net book value
At 31 August 2023 0 3,066 14,348 5,012 31,513 53,939
At 31 August 2022 0 4,088 19,130 8,278 21,265 52,761

4. Debtors

2023 2022
£ £
Trade debtors 1,426,277 1,033,376
Other debtors 1,104,591 943,501
2,530,868 1,976,877

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,400,008 1,081,430
Taxation and social security 579,364 461,095
Other creditors 42,455 35,802
2,021,827 1,578,327

6. Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows

2023 2022
£ £
Within one year 112,330 102,053
Between two and five years 101,575 213,905