IRIS Accounts Production v24.2.0.383 01738399 director 1.3.23 29.2.24 29.2.24 true false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh017383992023-02-28017383992024-02-29017383992023-03-012024-02-29017383992022-02-28017383992022-03-012023-02-28017383992023-02-2801738399ns15:EnglandWales2023-03-012024-02-2901738399ns14:PoundSterling2023-03-012024-02-2901738399ns10:Director12023-03-012024-02-2901738399ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2901738399ns10:SmallEntities2023-03-012024-02-2901738399ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2901738399ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2901738399ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2901738399ns10:FullAccounts2023-03-012024-02-2901738399ns10:CompanySecretary12023-03-012024-02-2901738399ns10:RegisteredOffice2023-03-012024-02-2901738399ns5:CurrentFinancialInstruments2024-02-2901738399ns5:CurrentFinancialInstruments2023-02-2801738399ns5:Non-currentFinancialInstruments2024-02-2901738399ns5:Non-currentFinancialInstruments2023-02-2801738399ns5:ShareCapital2024-02-2901738399ns5:ShareCapital2023-02-2801738399ns5:FurtherSpecificReserve1ComponentTotalEquity2024-02-2901738399ns5:FurtherSpecificReserve1ComponentTotalEquity2023-02-2801738399ns5:FurtherSpecificReserve3ComponentTotalEquity2024-02-2901738399ns5:FurtherSpecificReserve3ComponentTotalEquity2023-02-2801738399ns5:RetainedEarningsAccumulatedLosses2024-02-2901738399ns5:RetainedEarningsAccumulatedLosses2023-02-2801738399ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-03-012024-02-2901738399ns5:PlantMachinery2023-03-012024-02-2901738399ns5:MotorVehicles2023-03-012024-02-2901738399ns5:ComputerEquipment2023-03-012024-02-2901738399ns5:LandBuildings2023-02-2801738399ns5:PlantMachinery2023-02-2801738399ns5:MotorVehicles2023-02-2801738399ns5:ComputerEquipment2023-02-2801738399ns5:LandBuildings2023-03-012024-02-2901738399ns5:LandBuildings2024-02-2901738399ns5:PlantMachinery2024-02-2901738399ns5:MotorVehicles2024-02-2901738399ns5:ComputerEquipment2024-02-2901738399ns5:LandBuildings2023-02-2801738399ns5:PlantMachinery2023-02-2801738399ns5:MotorVehicles2023-02-2801738399ns5:ComputerEquipment2023-02-2801738399ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-02-2801738399ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-012024-02-2901738399ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-02-2901738399ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-02-2801738399ns5:CostValuation2023-02-2801738399ns5:AdditionsToInvestments2024-02-2901738399ns5:CostValuation2024-02-2901738399ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2901738399ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2801738399ns5:FurtherSpecificReserve3ComponentTotalEquity2023-02-28
REGISTERED NUMBER: 01738399 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Cullingworth Commercials and Freight
Services Limited

Cullingworth Commercials and Freight
Services Limited (Registered number: 01738399)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cullingworth Commercials and Freight
Services Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: R D Feather



SECRETARY: R D Feather



REGISTERED OFFICE: 1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS



REGISTERED NUMBER: 01738399 (England and Wales)



ACCOUNTANTS: Franklins
1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS



SOLICITORS: Waddington Webber Solicitors
65 North Street
Keighley
West Yorkshire
BD21 3RZ

Cullingworth Commercials and Freight
Services Limited (Registered number: 01738399)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,098,100 7,000,810
Investments 5 5,790,874 5,573,964
Investment property 6 6,984,465 5,092,592
19,873,439 17,667,366

CURRENT ASSETS
Stocks 208,624 192,100
Debtors 7 6,405,936 4,528,682
Cash at bank and in hand 8,366,251 6,715,460
14,980,811 11,436,242
CREDITORS
Amounts falling due within one year 8 4,343,734 3,864,544
NET CURRENT ASSETS 10,637,077 7,571,698
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,510,516

25,239,064

CREDITORS
Amounts falling due after more than one
year

9

-

(17,194

)

PROVISIONS FOR LIABILITIES (918,909 ) (816,787 )
NET ASSETS 29,591,607 24,405,083

CAPITAL AND RESERVES
Called up share capital 29,588 100
Other reserves 100 100
Non-distributable reserve 10 324,868 (459,183 )
Retained earnings 29,237,051 24,864,066
SHAREHOLDERS' FUNDS 29,591,607 24,405,083

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Cullingworth Commercials and Freight
Services Limited (Registered number: 01738399)

Balance Sheet - continued
29 February 2024


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 director and authorised for issue on 16 September 2024 and were signed by:





R D Feather - Director


Cullingworth Commercials and Freight
Services Limited (Registered number: 01738399)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Cullingworth Commercials and Freight Services 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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises turnover when the amount of turnover can be reliably measured, and it is probable that future economic benefits can be reliably measured, and it is probable that future economic benefits will flow to the entity. Turnover from the sale of goods is recognised when the risks and rewards of ownership are transferred to the customer. Turnover from services is recognised in the accounting periods in which the services are rendered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property & improvements - 15% on reducing balance and 2% on cost
Plant and fixtures - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings, associates and unlisted investments are recognised at cost less impairment.

Investment properties
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss and included within the non-distributable reserve.

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

Stocks are valued on a first in first out basis.


Cullingworth Commercials and Freight
Services Limited (Registered number: 01738399)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

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.

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 for goods sold or services rendered in the ordinary course of business.

Trade debtors are recognised at the transaction price. 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 debtor.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade creditors are recognised at the transaction price.

Trade creditors are classified as current liabilities of the company. The company does not have an unconditional right, at the end of the reporting date, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Cullingworth Commercials and Freight
Services Limited (Registered number: 01738399)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Freehold
property Plant and Motor Office
& improvements fixtures vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 5,174,283 2,452,909 3,931,872 31,532 11,590,596
Additions 253,882 464,050 632,910 - 1,350,842
Disposals - (388,375 ) (411,349 ) - (799,724 )
At 29 February 2024 5,428,165 2,528,584 4,153,433 31,532 12,141,714
DEPRECIATION
At 1 March 2023 943,394 1,681,799 1,946,964 17,629 4,589,786
Charge for year 149,803 261,881 615,912 1,212 1,028,808
Eliminated on disposal - (317,802 ) (257,178 ) - (574,980 )
At 29 February 2024 1,093,197 1,625,878 2,305,698 18,841 5,043,614
NET BOOK VALUE
At 29 February 2024 4,334,968 902,706 1,847,735 12,691 7,098,100
At 28 February 2023 4,230,889 771,110 1,984,908 13,903 7,000,810

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023
and 29 February 2024 205,000
DEPRECIATION
At 1 March 2023 51,250
Charge for year 38,438
At 29 February 2024 89,688
NET BOOK VALUE
At 29 February 2024 115,312
At 28 February 2023 153,750

Cullingworth Commercials and Freight
Services Limited (Registered number: 01738399)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 March 2023 4,764,379 1,048,670 5,813,049
Additions 29,488 187,422 216,910
At 29 February 2024 4,793,867 1,236,092 6,029,959
PROVISIONS
At 1 March 2023
and 29 February 2024 - 239,085 239,085
NET BOOK VALUE
At 29 February 2024 4,793,867 997,007 5,790,874
At 28 February 2023 4,764,379 809,585 5,573,964

Cost or valuation at 29 February 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Cost 4,793,867 1,236,092 6,029,959

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 5,092,592
Additions 1,040,533
Disposals (194,061 )
Revaluations 1,045,401
At 29 February 2024 6,984,465
NET BOOK VALUE
At 29 February 2024 6,984,465
At 28 February 2023 5,092,592

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 6,984,465

Cullingworth Commercials and Freight
Services Limited (Registered number: 01738399)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. INVESTMENT PROPERTY - continued

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 6,488,808 5,642,335

Investment properties were valued on an open market basis on 29 February 2024 by Mr R Feather .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 81,556 65,331
Amounts owed by group undertakings 2,239,937 1,759,985
Other debtors 4,084,443 2,703,366
6,405,936 4,528,682

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 17,194 50,316
Trade creditors 520,455 331,741
Amounts owed to group undertakings 268,416 899,186
Taxation and social security 190,280 -
Other creditors 3,347,389 2,583,301
4,343,734 3,864,544

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 17,194

10. RESERVES
Non-distributable
reserve
£   
At 1 March 2023 (459,183 )
Revaluation reserve 1,045,401
Deferred tax (261,350 )

At 29 February 2024 324,868

Cullingworth Commercials and Freight
Services Limited (Registered number: 01738399)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

11. RELATED PARTY DISCLOSURES

Entities over which the entity has control, joint control or significant influence

Cullingworth Commercials & Freight Services Limited is a corporate partner in an LLP which it can exert significant influence over. During the year the company received a share of the loss from the LLP of £35,801 (2023: £39,783). The balance owed from the company to the LLP at the year end was £268,416 (2023: £232,615) and the amount on the members capital account was £Nil (2023: £Nil).

Cullingworth Commercials & Freight Services Limited is a corporate partner in an LLP which it can exert significant influence over. During the year the company received a share of the profit from the LLP of £5,079 (2023: Loss £205). The balance owed to the company from the LLP at the year end was £1,402,232 (2023: £947,153).

Other Related Parties

At the year end a balance existed with a company Mr R Feather is a director and can exercise significant influence over. The balance owed from the company to Cullingworth Commercials & Freight Services Limited at the year end amounted to £681,165 (2023: £699,765).

At the year end a balance existed with a company Mr R Feather can exercise significant influence over. The balance owed from the company to Cullingworth Commercials & Freight Services Limited at the year end amounted to £15,066 (2023: £10,040).

12. ULTIMATE CONTROLLING PARTY

The controlling party is R D Feather.