Company registration number 09450998 (England and Wales)
CASTLEFORD ENGINEERING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CASTLEFORD ENGINEERING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CASTLEFORD ENGINEERING LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,470
2,570
Tangible assets
4
133,502
133,145
134,972
135,715
Current assets
Debtors
5
146,565
175,032
Cash at bank and in hand
1
1
146,566
175,033
Creditors: amounts falling due within one year
6
(197,425)
(260,772)
Net current liabilities
(50,859)
(85,739)
Total assets less current liabilities
84,113
49,976
Creditors: amounts falling due after more than one year
7
(4,167)
(3,716)
Net assets
79,946
46,260
Capital and reserves
Called up share capital
8
225,100
225,100
Profit and loss reserves
(145,154)
(178,840)
Total equity
79,946
46,260

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 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.

CASTLEFORD ENGINEERING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
Mr S P Rule
Director
Company registration number 09450998 (England and Wales)
CASTLEFORD ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Castleford Engineering Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pool Farm, Liverton, Newton Abbot, Devon, TQ12 6HX.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Reporting period

The company's previous accounting period had been shortened to 31 December 2022. These financial statements reflect an 12 month period and therefore the results are not entierly comparable to those of the previous accounting period of 8 months.

1.3
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

 

Revenue is recognised as contract activity progresses so that for incomplete contracts it reflects the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

1.4
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Land and buildings leasehold
5% per annum on cost
Plant and machinery
15% per annum on a reducing balance basis
Fixtures, fittings & equipment
20% per annum on cost
Motor vehicles
25% per annum on a reducing balance basis

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.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

CASTLEFORD ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
5
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
11,000
Amortisation and impairment
At 1 January 2023
8,430
Amortisation charged for the year
1,100
At 31 December 2023
9,530
Carrying amount
At 31 December 2023
1,470
At 31 December 2022
2,570
CASTLEFORD ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
32,408
304,653
337,061
Additions
-
0
76,792
76,792
Disposals
-
0
(130,987)
(130,987)
At 31 December 2023
32,408
250,458
282,866
Depreciation and impairment
At 1 January 2023
5,535
198,381
203,916
Depreciation charged in the year
974
20,040
21,014
Eliminated in respect of disposals
-
0
(75,566)
(75,566)
At 31 December 2023
6,509
142,855
149,364
Carrying amount
At 31 December 2023
25,899
107,603
133,502
At 31 December 2022
26,873
106,272
133,145
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
146,565
126,705
Other debtors
-
0
48,327
146,565
175,032
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
29,847
100,286
Trade creditors
8,153
1,453
Taxation and social security
14,440
12,361
Other creditors
144,985
146,672
197,425
260,772

The bank overdraft of £29,847 (2022 £60,211) is secured over the assets of the company.

 

Included in other creditors are net obligations under finance lease and hire purchase contracts of £10,000 (2022 £9,741) which are secured on the assets concerned.

CASTLEFORD ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
4,167
3,716

Included in other creditors are net obligations under finance lease and hire purchase contracts of £4,167 (2022 £3,716) which are secured on the assets concerned.

8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
ordinary shares of £1 each
100
100
100
100
2023
2022
2023
2022
Preference share capital
Number
Number
£
£
Issued and fully paid
redeemable preference shares of £1 each
225,000
225,000
225,000
225,000
Preference shares classified as equity
225,000
225,000
Total equity share capital
225,100
225,100
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