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COMPANY REGISTRATION NUMBER: 11033874
Capital Construction Holdings Limited
Filleted Unaudited Financial Statements
31 December 2023
Capital Construction Holdings Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Investments
6
465,288
465,288
Current assets
Debtors
7
2,949,528
2,452,480
Cash at bank and in hand
20,554
25,709
-------------
-------------
2,970,082
2,478,189
Creditors: amounts falling due within one year
8
( 327,539)
( 308,956)
-------------
-------------
Net current assets
2,642,543
2,169,233
-------------
-------------
Total assets less current liabilities
3,107,831
2,634,521
-------------
-------------
Net assets
3,107,831
2,634,521
-------------
-------------
Capital and reserves
Called up share capital
9
4
4
Profit and loss account
3,107,827
2,634,517
-------------
-------------
Shareholders funds
3,107,831
2,634,521
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Capital Construction Holdings Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 19 September 2024 , and are signed on behalf of the board by:
Mr A W Onions
Director
Company registration number: 11033874
Capital Construction Holdings Limited
Notes to the Financial Statements
Year ended 31st December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 7 Henry Close, Battlefield Enterprise Park, Shrewsbury, SY1 3TJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investment properties are initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment properties are revalued to their fair values at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes a 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 intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, which the transaction is measured at the present value of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tax on profit
Major components of tax expense/(income)
2023
2022
£
£
Current tax:
UK current tax expense
2,463
1,378
Deferred tax:
Origination and reversal of timing differences
( 7,192)
-------
-------
Tax on profit
2,463
( 5,814)
-------
-------
6. Investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost
At 1st January 2023
150
465,138
465,288
Additions
149
149
Revaluations
( 149)
( 149)
----
----------
----------
At 31st December 2023
150
465,138
465,288
----
----------
----------
Impairment
At 1st January 2023 and 31st December 2023
----
----------
----------
Carrying amount
At 31st December 2023
150
465,138
465,288
----
----------
----------
At 31st December 2022
150
465,138
465,288
----
----------
----------
On 31st December 2023 the investments were valued by Mr A W Onions , a director of the company on an open market value basis in the sum of £465,138 (2022 - £465,138)
7. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,621,684
1,540,406
Other debtors
1,327,844
912,074
-------------
-------------
2,949,528
2,452,480
-------------
-------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,297
269
Other creditors
326,242
308,687
----------
----------
327,539
308,956
----------
----------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
4
4
4
4
----
----
----
----
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr A W Onions
707,170
383,526
( 76,459)
1,014,237
----------
----------
---------
-------------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr A W Onions
345,435
361,735
707,170
----------
----------
----
----------
Interest has been charged at 2% up to 31st March 2023 and 2.25% thereafter for any period overdrawn. The loan is repayable on demand.