Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-317391No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2022-09-01falsefalse2220true 06997237 2022-09-01 2023-08-31 06997237 2021-09-01 2022-08-31 06997237 2023-08-31 06997237 2022-08-31 06997237 c:Director1 2022-09-01 2023-08-31 06997237 c:Director2 2022-09-01 2023-08-31 06997237 d:Buildings d:LongLeaseholdAssets 2022-09-01 2023-08-31 06997237 d:Buildings d:LongLeaseholdAssets 2023-08-31 06997237 d:Buildings d:LongLeaseholdAssets 2022-08-31 06997237 d:PlantMachinery 2022-09-01 2023-08-31 06997237 d:PlantMachinery 2023-08-31 06997237 d:PlantMachinery 2022-08-31 06997237 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06997237 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 06997237 d:MotorVehicles 2022-09-01 2023-08-31 06997237 d:MotorVehicles 2023-08-31 06997237 d:MotorVehicles 2022-08-31 06997237 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06997237 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 06997237 d:FurnitureFittings 2022-09-01 2023-08-31 06997237 d:OfficeEquipment 2022-09-01 2023-08-31 06997237 d:OfficeEquipment 2023-08-31 06997237 d:OfficeEquipment 2022-08-31 06997237 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06997237 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 06997237 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06997237 d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 06997237 d:FreeholdInvestmentProperty 2022-09-01 2023-08-31 06997237 d:FreeholdInvestmentProperty 2023-08-31 06997237 d:CurrentFinancialInstruments 2023-08-31 06997237 d:CurrentFinancialInstruments 2022-08-31 06997237 d:Non-currentFinancialInstruments 2023-08-31 06997237 d:Non-currentFinancialInstruments 2022-08-31 06997237 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 06997237 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 06997237 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 06997237 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 06997237 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 06997237 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-08-31 06997237 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 06997237 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-08-31 06997237 d:ShareCapital 2023-08-31 06997237 d:ShareCapital 2022-08-31 06997237 d:RetainedEarningsAccumulatedLosses 2023-08-31 06997237 d:RetainedEarningsAccumulatedLosses 2022-08-31 06997237 c:FRS102 2022-09-01 2023-08-31 06997237 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 06997237 c:FullAccounts 2022-09-01 2023-08-31 06997237 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 06997237 d:WithinOneYear 2023-08-31 06997237 d:WithinOneYear 2022-08-31 06997237 d:BetweenOneFiveYears 2023-08-31 06997237 d:BetweenOneFiveYears 2022-08-31 06997237 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 06997237 d:HirePurchaseContracts d:WithinOneYear 2022-08-31 06997237 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 06997237 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-08-31 06997237 d:HirePurchaseContracts d:MoreThanFiveYears 2023-08-31 06997237 d:HirePurchaseContracts d:MoreThanFiveYears 2022-08-31 06997237 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 06997237 d:AcceleratedTaxDepreciationDeferredTax 2022-08-31 06997237 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 06997237 d:TaxLossesCarry-forwardsDeferredTax 2022-08-31 06997237 d:OtherDeferredTax 2023-08-31 06997237 d:OtherDeferredTax 2022-08-31 06997237 2 2022-09-01 2023-08-31 06997237 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 06997237










CO-DUNKALL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
CO-DUNKALL LIMITED
REGISTERED NUMBER: 06997237

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
711,821
551,180

Investment property
  
374,568
-

  
1,086,389
551,180

Current assets
  

Stocks
  
57,202
81,092

Debtors: amounts falling due within one year
 6 
862,125
713,993

Cash at bank and in hand
  
51,386
81,432

  
970,713
876,517

Creditors: amounts falling due within one year
 7 
(823,080)
(673,279)

Net current assets
  
 
 
147,633
 
 
203,238

Total assets less current liabilities
  
1,234,022
754,418

Creditors: amounts falling due after more than one year
 8 
(782,025)
(384,360)

Provisions for liabilities
  

Deferred tax
 11 
(99,575)
(79,472)

  
 
 
(99,575)
 
 
(79,472)

Net assets
  
352,422
290,586


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
352,322
290,486

  
352,422
290,586


Page 1

 
CO-DUNKALL LIMITED
REGISTERED NUMBER: 06997237
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 income statement 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 by: 




................................................
R Lond-Caulk
................................................
S Lond-Caulk
Director
Director


Date: 29 August 2024

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

Page 2

 
CO-DUNKALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Co-Dunkall Limited is a private company limited by shares and incorporated in England and Wales, registration number 06997237. The registered office is Woodland House, Norwich Road, Carbrooke, Thetford, Norfolk, IP25 6TJ.

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 which is the functional currency of the Company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

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

Sale of goods

Turnover 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 turnover 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

Turnover 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 turnover 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.

Page 3

 
CO-DUNKALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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 Income statement in the same period as the related expenditure.

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

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.

Page 4

 
CO-DUNKALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Income Statement over its useful economic life of ten years.

 
2.11

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 5

 
CO-DUNKALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful life.

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
10 - 20 years straight line
Plant & machinery
-
3 - 15 years
Motor vehicles
-
5 years
Office furniture
-
3 - 10 years
Office equipment
-
3 years

 
2.12

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value.

 
2.14

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.

 
2.15

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.

 
2.16

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.

 
2.17

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.

Page 6

 
CO-DUNKALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.18

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. 


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2022 - 20).


4.


Tangible fixed assets





L/Term Leasehold Property
Plant & machinery
Motor vehicles
Office equipment & furniture
Total

£
£
£
£
£



Cost or valuation


At 1 September 2022
195,167
442,782
184,177
27,617
849,743


Additions
-
192,088
53,503
7,197
252,788


Disposals
(47,352)
-
-
-
(47,352)



At 31 August 2023

147,815
634,870
237,680
34,814
1,055,179



Depreciation


At 1 September 2022
62,096
82,614
130,320
23,533
298,563


Charge for the year on owned assets
7,391
37,374
12,754
2,409
59,928


Charge for the year on financed assets
-
16,058
16,161
-
32,219


Disposals
(47,352)
-
-
-
(47,352)



At 31 August 2023

22,135
136,046
159,235
25,942
343,358



Net book value



At 31 August 2023
125,680
498,824
78,445
8,872
711,821



At 31 August 2022
133,071
360,168
53,857
4,084
551,180

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




Page 7

 
CO-DUNKALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

           4.Tangible fixed assets (continued)


Page 8

 
CO-DUNKALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Investment property


Freehold investment property

£



Valuation


Additions at cost
374,568



At 31 August 2023
374,568







6.


Debtors

2023
2022
£
£


Trade debtors
96,704
51,673

Amounts owed by participating interests
558,911
423,092

Other debtors
89,721
120,203

Prepayments and accrued income
116,789
119,025

862,125
713,993


Page 9

 
CO-DUNKALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
73,528
36,364

Trade creditors
375,718
279,175

Corporation tax
-
33,709

Other taxation and social security
49,249
43,054

Obligations under finance lease and hire purchase contracts
127,405
85,791

Other creditors
5,434
7,628

Accruals and deferred income
191,746
187,558

823,080
673,279


The following liabilities were secured:




Details of security provided:

The Bank loan and overdraft is secured by way of a fixed, floating charge and negative charge over the assets of the Company.  
Assets purchased by way of finance lease and hire purchase contracts are secured on the assets to which the agreement relates.  


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
271,221
96,969

Net obligations under finance leases and hire purchase contracts
262,293
200,583

Other creditors
197,048
51,734

Government grants received
51,463
35,074

782,025
384,360


Assets purchased by way of finance and hire purchase contracts are secured on the assets to which the agreements relate.
The loan from Lloyds is secured by cross guarantee, the Guarantee is by RSLC developments Limited for £252,000 in favour of the Bank for the liabilities of Co-Dunkall Limited to the Bank.

Page 10

 
CO-DUNKALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
73,528
36,364


73,528
36,364

Amounts falling due 1-2 years

Bank loans
73,528
36,364


73,528
36,364

Amounts falling due 2-5 years

Bank loans
197,693
60,605


197,693
60,605


344,749
133,333



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
127,405
85,792

Between 1-5 years
134,004
80,169

Over 5 years
128,289
120,414

389,698
286,375

Page 11

 
CO-DUNKALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

11.


Deferred taxation




2023


£






At beginning of year
(79,472)


Charged to profit or loss
(20,103)



At end of year
(99,575)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(146,305)
(100,135)

Tax losses carried forward
26,013
-

Short term timing differences
20,717
20,663

(99,575)
(79,472)


12.


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 and amounted to £10,539 (2022 - £88,035). Contributions totalling £82,102 (2022 - £81,558) were payable to the fund at the reporting date and are included in other creditors (£2,102) and accruals (£160,000). 


13.


Commitments under operating leases

At 31 August 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
34,303
7,266

Later than 1 year and not later than 5 years
152,510
6,812

186,813
14,078

Page 12

 
CO-DUNKALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

14.


Related party transactions

At the year end, the Directors were owed £197,048 (2022 - £51,734) which is included within other creditors and repayable on demand. 

 
Page 13