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REGISTERED NUMBER: 03932696 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st December 2023

for

CRAVEN SERVICES (NORTH WEST) LIMITED

CRAVEN SERVICES (NORTH WEST) LIMITED (REGISTERED NUMBER: 03932696)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRAVEN SERVICES (NORTH WEST) LIMITED

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Mr A J Millar
Mr J M Craven
Mrs J A Haywood





REGISTERED OFFICE: 41 St Thomas's Road
Chorley
Lancashire
PR7 1JE





REGISTERED NUMBER: 03932696 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

CRAVEN SERVICES (NORTH WEST) LIMITED (REGISTERED NUMBER: 03932696)

Balance Sheet
31st December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 203,141 141,052
203,141 141,052

CURRENT ASSETS
Stocks 6 92,155 124,259
Debtors 7 197,447 192,229
Cash at bank and in hand 152,772 147,638
442,374 464,126
CREDITORS
Amounts falling due within one year 8 390,184 360,001
NET CURRENT ASSETS 52,190 104,125
TOTAL ASSETS LESS CURRENT
LIABILITIES

255,331

245,177

CREDITORS
Amounts falling due after more than one
year

9

(141,643

)

(144,470

)

PROVISIONS FOR LIABILITIES (38,597 ) (26,800 )
NET ASSETS 75,091 73,907

CAPITAL AND RESERVES
Called up share capital 1,195 1,195
Share premium 68,603 68,603
Retained earnings 5,293 4,109
SHAREHOLDERS' FUNDS 75,091 73,907

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CRAVEN SERVICES (NORTH WEST) LIMITED (REGISTERED NUMBER: 03932696)

Balance Sheet - continued
31st December 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 Board of Directors and authorised for issue on 10th April 2024 and were signed on its behalf by:




Mr A J Millar - Director Mr J M Craven - Director




Mrs J A Haywood - Director


CRAVEN SERVICES (NORTH WEST) LIMITED (REGISTERED NUMBER: 03932696)

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

1. STATUTORY INFORMATION

Craven Services (North West) 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. ACCOUNTING POLICIES

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

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for goods supplied and services rendered, stated net of discounts and of Value Added Tax. It is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% on reducing balance

Impairment of Assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


CRAVEN SERVICES (NORTH WEST) LIMITED (REGISTERED NUMBER: 03932696)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

2. 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 obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or 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 and to the directors personal schemes are charged to the profit and loss account in the period to which they relate.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its 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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2022 - 38 ) .

CRAVEN SERVICES (NORTH WEST) LIMITED (REGISTERED NUMBER: 03932696)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 526,518
AMORTISATION
At 1st January 2023
and 31st December 2023 526,518
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st January 2023 27,511 348,155 300,705 43,004 719,375
Additions - 13,796 100,991 - 114,787
Disposals - - (41,650 ) - (41,650 )
At 31st December 2023 27,511 361,951 360,046 43,004 792,512
DEPRECIATION
At 1st January 2023 27,511 296,807 222,746 31,259 578,323
Charge for year - 9,177 37,507 3,916 50,600
Eliminated on disposal - - (39,552 ) - (39,552 )
At 31st December 2023 27,511 305,984 220,701 35,175 589,371
NET BOOK VALUE
At 31st December 2023 - 55,967 139,345 7,829 203,141
At 31st December 2022 - 51,348 77,959 11,745 141,052

CRAVEN SERVICES (NORTH WEST) LIMITED (REGISTERED NUMBER: 03932696)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2023 76,584 13,684 90,268
Additions 100,991 - 100,991
Transfer to ownership (14,990 ) - (14,990 )
At 31st December 2023 162,585 13,684 176,269
DEPRECIATION
At 1st January 2023 24,375 8,616 32,991
Charge for year 29,530 1,689 31,219
Transfer to ownership (6,734 ) - (6,734 )
At 31st December 2023 47,171 10,305 57,476
NET BOOK VALUE
At 31st December 2023 115,414 3,379 118,793
At 31st December 2022 52,209 5,068 57,277

6. STOCKS
31.12.23 31.12.22
£    £   
Stocks 67,035 79,658
Work-in-progress 25,120 44,601
92,155 124,259

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 132,786 117,414
Amounts owed by group undertakings 31,493 34,458
Other debtors 2,643 6,081
Prepayments 30,525 34,276
197,447 192,229

CRAVEN SERVICES (NORTH WEST) LIMITED (REGISTERED NUMBER: 03932696)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 47,374 46,953
Other loans - 659
Hire purchase contracts (see note 10) 40,652 23,153
Trade creditors 105,343 90,719
Tax 2,632 40,170
Social security and other taxes 158,236 129,969
Other creditors 15,516 8,585
Accruals 20,431 19,793
390,184 360,001

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 46,638 46,953
Bank loans - 2-5 years 22,986 70,629
Hire purchase contracts (see note 10) 72,019 26,888
141,643 144,470

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 40,652 23,153
Between one and five years 72,019 26,888
112,671 50,041

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 19,235 64,862
Between one and five years - 1,212
19,235 66,074

CRAVEN SERVICES (NORTH WEST) LIMITED (REGISTERED NUMBER: 03932696)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

11. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 116,998 164,535
Other loans - 659
Hire purchase contracts 112,671 50,041
229,669 215,235

Balances due under hire purchase contracts are secured against the individual assets for which the agreements were undertaken.

The bank loan is secured by a partial guarantee from the UK government under the CBIL scheme.

12. CONTROLLING PARTY

The controlling party is AMJC Holdings Limited.

The registered address of AMJC Holdings Limited is 41 St Thomas's Road, Chorley, Lancashire, PR7 1JE.