REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
FOR |
C. OWENS (BUILDERS & CONTRACTORS) |
LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
FOR |
C. OWENS (BUILDERS & CONTRACTORS) |
LIMITED |
C. OWENS (BUILDERS & CONTRACTORS) |
LIMITED (REGISTERED NUMBER: 00594923) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30th November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
C. OWENS (BUILDERS & CONTRACTORS) |
LIMITED |
COMPANY INFORMATION |
for the Year Ended 30th November 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
100 Barbirolli Square |
Manchester |
M2 3BD |
C. OWENS (BUILDERS & CONTRACTORS) |
LIMITED (REGISTERED NUMBER: 00594923) |
BALANCE SHEET |
30th November 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
C. OWENS (BUILDERS & CONTRACTORS) |
LIMITED (REGISTERED NUMBER: 00594923) |
BALANCE SHEET - continued |
30th November 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
C. OWENS (BUILDERS & CONTRACTORS) |
LIMITED (REGISTERED NUMBER: 00594923) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30th November 2023 |
1. | STATUTORY INFORMATION |
C. Owens (Builders & Contractors) Limited is a private company limited by share capital, incorporated in England and Wales, registration number 00594923. The address of the registered office and principal place of business is 327 Swinton Hall Road, Pendlebury, Manchester, M27 4DX. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of construction of commercial building, which are recognised at the point of which the goods and services are provided. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amoritsation and any accumulated impairment losses. |
Website is being amortised evenly over its estimate useful life of 5 years. |
Tangible fixed assets |
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. |
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 | 15% reducing balance |
Fixtures and fittings | 15% reducing balance |
Motor vehicles | 25% reducing balance |
Leasehold improvements | 15% reducing balance |
Computer equipment | 25% straight line method |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
C. OWENS (BUILDERS & CONTRACTORS) |
LIMITED (REGISTERED NUMBER: 00594923) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th November 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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 represented by cash at bank and in hand. Bank borrowings are included within creditors. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
C. OWENS (BUILDERS & CONTRACTORS) |
LIMITED (REGISTERED NUMBER: 00594923) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th November 2023 |
4. | INTANGIBLE FIXED ASSETS |
Website |
£ |
COST |
At 1st December 2022 |
and 30th November 2023 |
AMORTISATION |
At 1st December 2022 |
Amortisation for year |
At 30th November 2023 |
NET BOOK VALUE |
At 30th November 2023 |
At 30th November 2022 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1st December 2022 |
Additions |
Disposals | ( |
) |
At 30th November 2023 |
DEPRECIATION |
At 1st December 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30th November 2023 |
NET BOOK VALUE |
At 30th November 2023 |
At 30th November 2022 |
C. OWENS (BUILDERS & CONTRACTORS) |
LIMITED (REGISTERED NUMBER: 00594923) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th November 2023 |
5. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1st December 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30th November 2023 |
DEPRECIATION |
At 1st December 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30th November 2023 |
NET BOOK VALUE |
At 30th November 2023 |
At 30th November 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans (see note 9) |
9. | LOANS |
The bank overdraft is secured by a charge over a property that is jointly owned by S Smethurst and M Owens. |
C. OWENS (BUILDERS & CONTRACTORS) |
LIMITED (REGISTERED NUMBER: 00594923) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th November 2023 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
11. | RELATED PARTY DISCLOSURES |
Dividends totalling £2,000 (2022 - £4,000) were paid in the year in respect of shares held by the company's directors. The company was charged rent of £14,590 (2022: £13,360) on a building owned by S Smethurst and M Owens. |