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REGISTERED NUMBER: 08304400 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

CASTINGS DRAINAGE SUPPLIES LIMITED

CASTINGS DRAINAGE SUPPLIES LIMITED (REGISTERED NUMBER: 08304400)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CASTINGS DRAINAGE SUPPLIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: D E Mackle





SECRETARY: D E Mackle





REGISTERED OFFICE: James Lane
Grazeley Green
Reading
Berkshire
RG7 1NB





REGISTERED NUMBER: 08304400 (England and Wales)





ACCOUNTANTS: Davis Burton Sellek
Chartered Accountants
The Galleries
Charters Road
Sunningdale
Berkshire
SL5 9QJ

CASTINGS DRAINAGE SUPPLIES LIMITED (REGISTERED NUMBER: 08304400)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 21,445 28,939

CURRENT ASSETS
Stocks 157,449 124,851
Debtors 6 1,232,884 712,737
Cash at bank 242,280 61,254
1,632,613 898,842
CREDITORS
Amounts falling due within one year 7 1,453,567 700,853
NET CURRENT ASSETS 179,046 197,989
TOTAL ASSETS LESS CURRENT
LIABILITIES

200,491

226,928

CREDITORS
Amounts falling due after more than one
year

8

(15,000

)

(33,388

)

PROVISIONS FOR LIABILITIES (5,361 ) (5,498 )
NET ASSETS 180,130 188,042

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 180,030 187,942
180,130 188,042

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CASTINGS DRAINAGE SUPPLIES LIMITED (REGISTERED NUMBER: 08304400)

BALANCE SHEET - continued
30 NOVEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 August 2024 and were signed by:





D E Mackle - Director


CASTINGS DRAINAGE SUPPLIES LIMITED (REGISTERED NUMBER: 08304400)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Castings Drainage Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Going concern
The financial statements have been prepared on the going concern basis and the director confirms his belief in the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of the financial statements.

Turnover
Turnover is measured at the fair value of consideration received or receivable for goods, net of discounts and value added taxes.

Turnover comprises the sale of drainage products and similar goods to customers at an agreed price and is recognised when the significant risk and rewards of ownership of the goods have transferred to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on cost
Motor vehicles - 20% on reducing balance

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 the profit and loss account.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

CASTINGS DRAINAGE SUPPLIES LIMITED (REGISTERED NUMBER: 08304400)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities
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.

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 rate method.

Equity instruments
Equity instruments issued by the company are recorded at proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


CASTINGS DRAINAGE SUPPLIES LIMITED (REGISTERED NUMBER: 08304400)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


3. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets acquired under finance leases and hire purchase contracts are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method.

Rentals payable under operating leases are charged to the profit and loss on a straight line basis over the period of the lease.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Provisions
Provisions (ie. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 4 ) .

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 32,015 19,849 51,864
DEPRECIATION
At 1 December 2022 9,253 13,672 22,925
Charge for year 6,258 1,236 7,494
At 30 November 2023 15,511 14,908 30,419
NET BOOK VALUE
At 30 November 2023 16,504 4,941 21,445
At 30 November 2022 22,762 6,177 28,939

CASTINGS DRAINAGE SUPPLIES LIMITED (REGISTERED NUMBER: 08304400)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,226,001 702,902
Other debtors 6,883 9,835
1,232,884 712,737

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 -
Trade creditors 707,875 549,624
Taxation and social security 50,360 61,121
Other creditors 685,332 90,108
1,453,567 700,853

Other creditors, includes an invoice discounting commercial finance facility, with Lloyds TSB Commercial Finance Ltd. The balance at the year end is £618,376. This facility is secured via a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures and fixed plant and machinery.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,000 33,388

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 36,000 -
Between one and five years 192,000 -
In more than five years 12,000 -
240,000 -

10. CONTROL

The controlling party in the current and previous financial year is Mr D Mackle by virtue of his ownership of the majority of the issued share capital.