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REGISTERED NUMBER: 11765955 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Cullingworth Commercials Limited

Cullingworth Commercials Limited (Registered number: 11765955)






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 Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr R D Feather
Mr A Langstaff





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





REGISTERED NUMBER: 11765955 (England and Wales)





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

Cullingworth Commercials Limited (Registered number: 11765955)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,297 11,835

CURRENT ASSETS
Stocks 5 39,185 35,916
Debtors 6 2,469,595 2,000,864
Cash at bank and in hand 1,456,198 1,042,317
3,964,978 3,079,097
CREDITORS
Amounts falling due within one year 7 1,125,072 1,053,258
NET CURRENT ASSETS 2,839,906 2,025,839
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,848,203

2,037,674

PROVISIONS FOR LIABILITIES 2,074 2,959
NET ASSETS 2,846,129 2,034,715

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 2,846,029 2,034,615
SHAREHOLDERS' FUNDS 2,846,129 2,034,715

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 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.

Cullingworth Commercials Limited (Registered number: 11765955)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





Mr R D Feather - Director


Cullingworth Commercials Limited (Registered number: 11765955)

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

1. STATUTORY INFORMATION

Cullingworth Commercials 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. These financial statements have been prepared under the historical cost convention as modified by the use of fair values for certain financial instruments in accordance with the accounting policies set out below.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

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.
Equipment - 20% on cost

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans from and to related parties.

Cullingworth Commercials Limited (Registered number: 11765955)

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

2. ACCOUNTING POLICIES - continued

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 43 (2023 - 48 ) .

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 March 2023
and 29 February 2024 17,691
DEPRECIATION
At 1 March 2023 5,856
Charge for year 3,538
At 29 February 2024 9,394
NET BOOK VALUE
At 29 February 2024 8,297
At 28 February 2023 11,835

5. STOCKS
2024 2023
£    £   
Stocks 39,185 35,916

Cullingworth Commercials Limited (Registered number: 11765955)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,483,627 1,177,477
Amounts owed by group undertakings 879,865 746,268
Other debtors 6,554 4,194
Prepayments and accrued income 99,549 72,925
2,469,595 2,000,864

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 360,981 315,453
Amounts owed to group undertakings 126,016 113,067
Tax 340,918 303,311
Social security and other taxes 38,567 37,489
VAT 222,873 217,912
Other creditors 27,163 33,501
Directors' current accounts 1,350 3,163
Accruals and deferred income 7,204 29,362
1,125,072 1,053,258

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

9. RESERVES
Retained
earnings
£   

At 1 March 2023 2,034,615
Profit for the year 1,511,414
Dividends (700,000 )
At 29 February 2024 2,846,029

Cullingworth Commercials Limited (Registered number: 11765955)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Mr R D Feather
Balance outstanding at start of year - -
Amounts advanced - 105,812
Amounts repaid - (105,812 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

11. RELATED PARTY DISCLOSURES

Cullingworth Commercials Limited is a wholly owned subsidiary of a company in which Mr R Feather is also a director, the parent company made sales of £1,390,000 (2023 £1,320,000), which were on an arms length basis under commercial terms. The balance owed to Cullingworth Commercials & Freight Services Limited at the year end amounted to £126,016 (2023 £113,067).

Cullingworth Poultry Limited is a wholly owned subsidiary of a company in which Mr R Feather is also a director. Cullingworth Commercials Limited made sales of £1,109,940 (2023 £1,077,826), which were on an arms length basis under commercial terms.The balance due to Cullingworth Commercials Limited at the year end was £879,865 (2023 £746,268).

12. ULTIMATE CONTROLLING PARTY

The controlling party is Cullingworth Commercials & Freight Services Limited.

The company is controlled by its immediate and ultimate parent company Cullingworth Commercials & Freight Services Limited, which is controlled by its majority shareholder, Mr R Feather. Cullingworth Commercials & Freight Services Limited is a company registered in England and Wales and shares its registered office address with Cullingworth Commercials Limited.