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Company Registration number: 10600772

Courtier Construction Limited

Annual Report and Unaudited
Financial Statements


for the Year Ended 29 February 2024

 

Courtier Construction Limited

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 9

 

Courtier Construction Limited

Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

44,238

56,217

Current assets

 

Stocks

6

298,114

252,600

Debtors

7

15,643

17,698

Cash at bank and in hand

 

284,854

319,898

 

598,611

590,196

Creditors: Amounts falling due within one year

8

(497,709)

(461,829)

Net current assets

 

100,902

128,367

Total assets less current liabilities

 

145,140

184,584

Creditors: Amounts falling due after more than one year

8

(57,500)

(87,500)

Provisions for liabilities

(8,405)

(5,717)

Net assets

 

79,235

91,367

Capital and reserves

 

Called up share capital

100

100

Retained earnings

79,135

91,267

Shareholders' funds

 

79,235

91,367

 

Courtier Construction Limited

Balance Sheet as at 29 February 2024 (continued)

For the financial year ending 29 February 2024 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.

Company registration number: 10600772

Approved and authorised by the director on 25 July 2024
 

.........................................
Mr D Courtier
Director

 

Courtier Construction Limited

Notes to the financial statements for the Year Ended 29 February 2024

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:
Oaklands Barn
Crosby
Maryport
CA15 6SP

These financial statements were authorised for issue by the director on 25 July 2024.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

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

 

Courtier Construction Limited

Notes to the financial statements for the Year Ended 29 February 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

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.

Tax

The tax expense for the period comprises current and deferred 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 corporation 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

 

Courtier Construction Limited

Notes to the financial statements for the Year Ended 29 February 2024 (continued)

2

ACCOUNTING POLICIES (continued)

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

Plant and machinery

20% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Courtier Construction Limited

Notes to the financial statements for the Year Ended 29 February 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

STAFF NUMBERS

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

 

Courtier Construction Limited

Notes to the financial statements for the Year Ended 29 February 2024 (continued)

4

INTANGIBLE ASSETS

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2023

10,000

10,000

At 29 February 2024

10,000

10,000

Amortisation

At 1 March 2023

10,000

10,000

At 29 February 2024

10,000

10,000

Carrying amount

At 29 February 2024

-

-

 

Courtier Construction Limited

Notes to the financial statements for the Year Ended 29 February 2024 (continued)

5

TANGIBLE ASSETS

Office equipment
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2023

2,863

62,461

48,276

113,600

Additions

458

250

610

1,318

Disposals

(2,115)

-

-

(2,115)

At 29 February 2024

1,206

62,711

48,886

112,803

Depreciation

At 1 March 2023

2,785

26,689

27,909

57,383

Charge for the year

193

9,000

4,104

13,297

Eliminated on disposal

(2,115)

-

-

(2,115)

At 29 February 2024

863

35,689

32,013

68,565

Carrying amount

At 29 February 2024

343

27,022

16,873

44,238

At 28 February 2023

78

35,772

20,367

56,217

6

STOCKS

2024
£

2023
£

Work in progress

290,885

243,950

Stocks

7,229

8,650

298,114

252,600

7

DEBTORS

Current

2024
£

2023
£

Trade debtors

-

360

Prepayments

9,750

1,663

Other debtors

5,893

15,675

 

15,643

17,698

 

Courtier Construction Limited

Notes to the financial statements for the Year Ended 29 February 2024 (continued)

8

CREDITORS

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

 

Loans and borrowings

30,000

30,000

Trade creditors

 

28,783

54,481

Taxation and social security

 

12,027

3,435

Accruals and deferred income

 

3,093

2,500

Other creditors

 

423,806

371,413

 

497,709

461,829

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £30,000 (2023 - £30,000).

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

 

Loans and borrowings

57,500

87,500

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £57,500 (2023 - £87,500).