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Registration number: 08908857

CW Construction (Investments) North West Limited
Annual Report and
Unaudited Financial Statements

30 November 2023

 

CW Construction (Investments) North West Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

CW Construction (Investments) North West Limited

Balance Sheet
30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,020,039

926,248

Current assets

 

Stocks

5

608,287

597,761

Debtors

6

676

635

Cash at bank and in hand

 

329,826

296,476

 

938,789

894,872

Creditors: Amounts falling due within one year

7

(1,197,127)

(1,094,651)

Net current liabilities

 

(258,338)

(199,779)

Net assets

 

761,701

726,469

Capital and reserves

 

Called up share capital

1

1

Retained earnings

761,700

726,468

Shareholders' funds

 

761,701

726,469

 

CW Construction (Investments) North West Limited

Balance Sheet
30 November 2023

For the financial 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.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 August 2024
 

.........................................
Mr D J Currie
Director

Company Registration Number: 08908857

 

CW Construction (Investments) North West Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 22
Tonge Bridge Way Ind Est
Tonge Bridge Way
Bolton
Lancashire
BL2 6RT

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

CW Construction (Investments) North West Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

CW Construction (Investments) North West Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 1 (2022 - 1).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 December 2022

926,248

333

926,581

Additions

93,791

-

93,791

At 30 November 2023

1,020,039

333

1,020,372

Depreciation

At 1 December 2022

-

333

333

At 30 November 2023

-

333

333

Carrying amount

At 30 November 2023

1,020,039

-

1,020,039

At 30 November 2022

926,248

-

926,248

Included within the net book value of land and buildings above is £1,020,039 (2022 - £926,248) in respect of freehold land and buildings.
 

 

CW Construction (Investments) North West Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

5

Stocks

2023
£

2022
£

Work in progress

608,287

597,761

 

CW Construction (Investments) North West Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

209

209

Prepayments

418

377

Other debtors

49

49

 

676

635

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

5,466

5,466

Taxation and social security

15,349

18,724

Accruals and deferred income

56,960

55,786

Other creditors

1,119,352

1,014,675

1,197,127

1,094,651

 

CW Construction (Investments) North West Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

8

Related party transactions

Summary of transactions with other related parties

CW Construction (North West) Limited
 A connected company controlled by the director by virtue of his shareholding.
 

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

1,007,213

1,007,213

Advanced

104,703

104,703

At end of period

1,111,916

1,111,916

2022

Other related parties
£

Total
£

At start of period

1,035,287

1,035,287

Advanced

11,926

11,926

Repaid

(40,000)

(40,000)

At end of period

1,007,213

1,007,213

9

Parent and ultimate parent undertaking

The ultimate controlling party is the director Mr D J Currie by virtue of his shareholding in the parent company CW Construction (Holdings) North West Limited.