Company registration number 14038555 (England and Wales)
COUNTRYSIDE FABRICATION LTD
FINANCIAL STATEMENTS
FOR THE YEAR 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
COUNTRYSIDE FABRICATION LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
COUNTRYSIDE FABRICATION LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
101,107
73,685
Current assets
Debtors
116,491
71,555
Cash at bank and in hand
1,800
6,036
118,291
77,591
Creditors: amounts falling due within one year
(115,008)
(42,967)
Net current assets
3,283
34,624
Total assets less current liabilities
104,390
108,309
Creditors: amounts falling due after more than one year
(65,252)
(55,775)
Net assets
39,138
52,534
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
39,038
52,434
Total equity
39,138
52,534
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
COUNTRYSIDE FABRICATION LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 16 September 2024 and are signed on its behalf by:
Mr S Solly
Director
Company registration number 14038555 (England and Wales)
COUNTRYSIDE FABRICATION LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
Countryside Fabrication Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3-4 Kingfisher Business Park, Henwood, Ashford, Kent, TN24 8DG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% Reducing balance
Computers
20% Straight line
Motor vehicles
20% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
COUNTRYSIDE FABRICATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
11
9
4
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023
27,162
49,065
76,227
Additions
15,961
1,275
31,950
49,186
At 30 April 2024
43,123
1,275
81,015
125,413
Depreciation and impairment
At 1 May 2023
2,139
403
2,542
Depreciation charged in the year
6,984
255
14,525
21,764
At 30 April 2024
9,123
255
14,928
24,306
Carrying amount
At 30 April 2024
34,000
1,020
66,087
101,107
At 30 April 2023
25,023
48,662
73,685
COUNTRYSIDE FABRICATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
5
Related party transactions
During the year the company made loans to Sekasol Holdings Ltd of £350 and £350 was outstanding at the balance sheet date.
During the year the company sold services to Countryside Group S/E Ltd of £2,696 and £2,696 was outstanding at the balance sheet date. Additionally, during the year the company made loans to Countryside Group S/E Ltd of £23,300 and £16,270 was outstanding at the balance sheet date.
During the year the company purchased services from Countryside Fabrication Ltd of £40,063 and £10,497 was outstanding at the balance sheet date.
The company charged a management charge to Countryside Fabrication Ltd during the year of £20,000.
Additionally, during the year the company received loans from Countryside Fabrication Ltd of £52,468 and £19,913 was outstanding at the balance sheet date.
The directors are also a director and joint shareholder of the above named companies.
6
Directors' transactions
Dividends totalling £49,000 (2023 - £0) were paid in the year in respect of shares held by the company's directors.
Description
Amounts advanced
Amounts repaid
Closing balance
£
£
£
Mr S & K Solly
91,695
(86,376)
(67)
91,695
(86,376)
(67)