Cardinal Cast Slates Ltd 03003395 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is roof tile manufacture Digita Accounts Production Advanced 6.30.9574.0 true true 03003395 2023-01-01 2023-12-31 03003395 2023-12-31 03003395 bus:OrdinaryShareClass1 2023-12-31 03003395 core:CapitalRedemptionReserve 2023-12-31 03003395 core:RetainedEarningsAccumulatedLosses 2023-12-31 03003395 core:ShareCapital 2023-12-31 03003395 core:CurrentFinancialInstruments 2023-12-31 03003395 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03003395 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 03003395 core:OfficeEquipment 2023-12-31 03003395 core:PlantMachinery 2023-12-31 03003395 bus:SmallEntities 2023-01-01 2023-12-31 03003395 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03003395 bus:FullAccounts 2023-01-01 2023-12-31 03003395 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03003395 bus:RegisteredOffice 2023-01-01 2023-12-31 03003395 bus:Director1 2023-01-01 2023-12-31 03003395 bus:Director2 2023-01-01 2023-12-31 03003395 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 03003395 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03003395 core:CapitalRedemptionReserve 2023-01-01 2023-12-31 03003395 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 03003395 core:ShareCapital 2023-01-01 2023-12-31 03003395 core:ComputerEquipment 2023-01-01 2023-12-31 03003395 core:LandBuildings core:ShortLeaseholdAssets 2023-01-01 2023-12-31 03003395 core:LeaseholdImprovements 2023-01-01 2023-12-31 03003395 core:OfficeEquipment 2023-01-01 2023-12-31 03003395 core:PlantMachinery 2023-01-01 2023-12-31 03003395 countries:England 2023-01-01 2023-12-31 03003395 2022-12-31 03003395 core:CapitalRedemptionReserve 2022-12-31 03003395 core:RetainedEarningsAccumulatedLosses 2022-12-31 03003395 core:ShareCapital 2022-12-31 03003395 core:LandBuildings core:ShortLeaseholdAssets 2022-12-31 03003395 core:OfficeEquipment 2022-12-31 03003395 core:PlantMachinery 2022-12-31 03003395 2022-01-01 2022-12-31 03003395 2022-12-31 03003395 bus:OrdinaryShareClass1 2022-12-31 03003395 core:CurrentFinancialInstruments 2022-12-31 03003395 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 03003395 core:LandBuildings core:ShortLeaseholdAssets 2022-12-31 03003395 core:OfficeEquipment 2022-12-31 03003395 core:PlantMachinery 2022-12-31 03003395 core:CapitalRedemptionReserve 2022-01-01 2022-12-31 03003395 core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 03003395 core:ShareCapital 2022-01-01 2022-12-31 03003395 2021-12-31 03003395 core:CapitalRedemptionReserve 2021-12-31 03003395 core:RetainedEarningsAccumulatedLosses 2021-12-31 03003395 core:ShareCapital 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

COMPANY REGISTRATION NUMBER: 03003395

Cardinal Cast Slates Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Cardinal Cast Slates Ltd

Contents

Statement of Financial Position

1 to 2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 8

 

Cardinal Cast Slates Ltd

Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

155,942

171,214

Current assets

 

Stocks

6

91,643

70,193

Debtors

7

205,016

193,047

Cash at bank and in hand

 

731,904

623,703

 

1,028,563

886,943

Creditors: Amounts falling due within one year

8

(177,392)

(195,156)

Net current assets

 

851,171

691,787

Total assets less current liabilities

 

1,007,113

863,001

Provisions for liabilities

(828)

(3,017)

Net assets

 

1,006,285

859,984

Capital and reserves

 

Called up share capital

9

1,000

1,000

Capital redemption reserve

1

1

Retained earnings

1,005,284

858,983

Shareholders' funds

 

1,006,285

859,984

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

Company registration number: :03003395

Approved and authorised by the Board on 9 May 2024 and signed on its behalf by:
 

 

Cardinal Cast Slates Ltd

Statement of Financial Position as at 31 December 2023 (continued)

Mr T G A Richards
Director

Mr R A Parsons
Director

 
     
 

Cardinal Cast Slates Ltd

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 January 2023

1,000

1

858,983

859,984

Profit for the year

-

-

164,301

164,301

Dividends

-

-

(18,000)

(18,000)

At 31 December 2023

1,000

1

1,005,284

1,006,285

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 January 2022

1,000

1

695,432

696,433

Profit for the year

-

-

163,551

163,551

At 31 December 2022

1,000

1

858,983

859,984

 

Cardinal Cast Slates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Claywell Farm
Aston Road
Ducklington
Witney
Oxfordshire
OX29 7QZ

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.

 

Cardinal Cast Slates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

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.

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Plant & Equipment

25% straight line

Computer Equipment

25% straight line

Leasehold improvements

26 years straight line

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.

 

Cardinal Cast Slates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2022 - 15).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

15,272

17,093

 

Cardinal Cast Slates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Tangible assets

Short leasehold land and buildings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

197,012

510,470

4,724

712,206

At 31 December 2023

197,012

510,470

4,724

712,206

Depreciation

At 1 January 2023

36,985

499,283

4,724

540,992

Charge for the year

7,397

7,875

-

15,272

At 31 December 2023

44,382

507,158

4,724

556,264

Carrying amount

At 31 December 2023

152,630

3,312

-

155,942

At 31 December 2022

155,335

15,879

-

171,214

Included within the net book value of land and buildings above is £152,630 (2022 - £155,335) in respect of short leasehold land and buildings.
 

6

Stocks

2023
£

2022
£

Finished goods and goods for resale

91,643

70,193

7

Debtors

Current

2023
£

2022
£

Trade debtors

168,385

159,338

Prepayments

16,127

15,479

Other debtors

20,504

18,230

 

205,016

193,047

 

Cardinal Cast Slates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

13,475

21,707

Taxation and social security

137,732

152,538

Accruals and deferred income

19,192

17,909

Other creditors

6,993

3,002

177,392

195,156

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000