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REGISTERED NUMBER: 03948225 (England and Wales)















Strategic Report, Report of the Directors and

Audited Financial Statements

for the Year Ended 31 January 2024

for

Cawarden Co. Limited

Cawarden Co. Limited (Registered number: 03948225)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Profit and Loss Account 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


Cawarden Co. Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: W D Crooks
M Lowes
O W Crooks
S M Crooks
P J Williamson
J C Groves



REGISTERED OFFICE: Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD



REGISTERED NUMBER: 03948225 (England and Wales)



SENIOR STATUTORY AUDITOR: Susanna D Ault FCCA ACA



AUDITORS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

Cawarden Co. Limited (Registered number: 03948225)

Strategic Report
for the Year Ended 31 January 2024

The directors present their strategic report for the year ended 31 January 2024.

Cawarden has continued its increase revenues, which was a key aspect of the five-year plan implemented just prior to covid. Revenues total £23.44 for the year to 31 January 2024 compared to
£19.62 million for the previous year. This represents a 19.5% increase over the previous financial year.

REVIEW OF BUSINESS
The order book is fluid with clients waiting to place orders due to the economic uncertainty with £8 million in orders already confirmed for the Q1 and Q2 of 2024 with the company looking to increase this as 2024 progresses having seen a change of government and the prospect of interest rate reductions.The business continues to trade with blue chip clients including Universities, Councils, large developers and major contractors.

The expansion of the business particularly into different work streams including Civils and Ground engineering, earth works and stabilisation, environmental and ecology, has inevitably continued to impact profitability as these income streams are still relatively new to the business. Technical staff are doing well and the team is achieving Cawarden goals, with profitability for 2024/25 projected to increase with Cawarden continuing to manage costs and labour on its contract works.

Due to planning delays the move to our new offices have been delayed. Planning has now been granted with build commencing in July 2024.The move to the new larger more functional offices connected to our plant and machinery depot in Castle Donnington will now be December 2024. This will enable a more functional and streamlined approach to management of all operations within the business.

PRINCIPAL RISKS AND UNCERTAINTIES
The Company faces a number of risks and uncertainties that may have an impact on its operations and future performance. Managing risks is important to the board of directors, who have the responsibility of managing the risks the business faces on an on-going basis. Consequently, process and staff management is constantly reviewed.

Cawarden's main risks are:
Inflationary pressures /Interest rates/wage increases
Council Planning issues as they are not fit for purpose
Environmental and Health and Safety legislation
Recruiting and retaining a good team across all operations of the business

Labour markets have eased but pay rises due to cost-of-living changes are causing major problems as are skill shortages. This means Cawarden has to maximise efficiencies when pricing and carrying out all contracted works.

The Company is subject to regulatory compliance to deal with risks associated with failure to comply with the application laws, regulations or codes, mainly involving health & safety and environmental laws such as asbestos or pollution.

The Directors are not aware of any major changes in legislation that would affect profitability in the next financial year.

Risk through staff changes or losses has been reviewed and the company is increasing training and policy to both retain staff and recruit suitable new employees.


Cawarden Co. Limited (Registered number: 03948225)

Strategic Report
for the Year Ended 31 January 2024

SECTION 172(1) STATEMENT
The Board of Directors confirm it has performed its duties in respect of section 172 of the Companies act 2006.
Specifically, the Board has considered long term factors that affect the Company its strategic directions
The Board has engaged with its stakeholders which assist the board in its decision-making process and in fulfilling its duty to promote the success of the Company as set out in Section 172

The Board has fulfilled their duties as follows

On an ongoing basis the board assess the major risks affecting the Company and develops appropriate responses to address those risks in an efficient and affective manor. This is taken into consideration when setting goals, budgets and forecasting financial performance. This ensures that the Company understands the financial impact of these risks and can respond to them on a timely basis

Employees are a key to Cawarden's success. The Company engages with employees on a regular basis. Supervisor, site manager and Director meetings are held to cover a range of topics such as Health & Safety, financial performance, Training and compliance. The company monitors staff turnover and performance to understand staff progression within the business.
The Company invests in the future of the business and has a successful mentoring plan to encourage young people into the Company

Cawarden aims to exceed its customers' expectations, we do this through communication and building strong business relationships with our clients. We further promote Cawarden closely with our suppliers and our local communities. We understand our responsibility with our community and work hard to show how important that relationship is to the Company

ON BEHALF OF THE BOARD:





W D Crooks - Director


30 July 2024

Cawarden Co. Limited (Registered number: 03948225)

Report of the Directors
for the Year Ended 31 January 2024

The directors present their report with the financial statements of the company for the year ended 31 January 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of demolition contractors and reclamation of used building materials.

DIVIDENDS
No dividends will be distributed for the year ended 31 January 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2023 to the date of this report.

W D Crooks
M Lowes
O W Crooks
S M Crooks
P J Williamson

Other changes in directors holding office are as follows:

J C Groves - appointed 12 April 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Cawarden Co. Limited (Registered number: 03948225)

Report of the Directors
for the Year Ended 31 January 2024


AUDITORS
The auditors, Tomkinson Teal (Lichfield) LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





W D Crooks - Director


30 July 2024

Report of the Independent Auditors to the Members of
Cawarden Co. Limited

Opinion
We have audited the financial statements of Cawarden Co. Limited (the 'company') for the year ended 31 January 2024 which comprise the Profit and Loss Account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 January 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Cawarden Co. Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the director and other management. We discussed with the director and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Cawarden Co. Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Susanna D Ault FCCA ACA (Senior Statutory Auditor)
for and on behalf of Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

30 July 2024

Cawarden Co. Limited (Registered number: 03948225)

Profit and Loss Account
for the Year Ended 31 January 2024

2024 2023
Notes £    £   

TURNOVER 3 26,804,403 19,624,458

Cost of sales (25,594,850 ) (18,530,906 )
GROSS PROFIT 1,209,553 1,093,552

Administrative expenses (922,767 ) (1,024,293 )
286,786 69,259

Other operating income 17,374 15,839
OPERATING PROFIT 5 304,160 85,098


Interest payable and similar expenses 6 (52,558 ) (22,840 )
PROFIT BEFORE TAXATION 251,602 62,258

Tax on profit 7 3,624 64,265
PROFIT FOR THE FINANCIAL YEAR 255,226 126,523

Cawarden Co. Limited (Registered number: 03948225)

Other Comprehensive Income
for the Year Ended 31 January 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 255,226 126,523


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

255,226

126,523

Cawarden Co. Limited (Registered number: 03948225)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 8 284,990 205,950

CURRENT ASSETS
Stocks 9 702,420 3,227,800
Debtors 10 4,067,535 2,018,816
Cash at bank and in hand 1,035,111 1,139,648
5,805,066 6,386,264
CREDITORS
Amounts falling due within one year 11 (4,088,791 ) (4,790,564 )
NET CURRENT ASSETS 1,716,275 1,595,700
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,001,265

1,801,650

CREDITORS
Amounts falling due after more than one
year

12

(55,000

)

(142,728

)

PROVISIONS FOR LIABILITIES 16 (71,248 ) (39,131 )
NET ASSETS 1,875,017 1,619,791

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings 18 1,874,917 1,619,691
SHAREHOLDERS' FUNDS 1,875,017 1,619,791

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





W D Crooks - Director


Cawarden Co. Limited (Registered number: 03948225)

Statement of Changes in Equity
for the Year Ended 31 January 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 February 2022 100 1,493,168 1,493,268

Changes in equity
Total comprehensive income - 126,523 126,523
Balance at 31 January 2023 100 1,619,691 1,619,791

Changes in equity
Total comprehensive income - 255,226 255,226
Balance at 31 January 2024 100 1,874,917 1,875,017

Cawarden Co. Limited (Registered number: 03948225)

Cash Flow Statement
for the Year Ended 31 January 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 191,297 (354,732 )
Interest paid (49,741 ) (18,286 )
Interest element of hire purchase payments
paid

(2,817

)

(4,554

)
Tax paid 20,000 -
Net cash from operating activities 158,739 (377,572 )

Cash flows from investing activities
Purchase of tangible fixed assets (191,245 ) (17,000 )
Net cash from investing activities (191,245 ) (17,000 )

Cash flows from financing activities
New loans in year 175,000 578,659
Loan repayments in year (230,793 ) (74,514 )
Capital repayments in year (33,423 ) (31,686 )
Amount introduced by directors 21,293 -
Amount withdrawn by directors (21,482 ) (5,351 )
Government grants 17,374 15,839
Net cash from financing activities (72,031 ) 482,947

(Decrease)/increase in cash and cash equivalents (104,537 ) 88,375
Cash and cash equivalents at beginning of
year

2

1,139,648

1,051,273

Cash and cash equivalents at end of year 2 1,035,111 1,139,648

Cawarden Co. Limited (Registered number: 03948225)

Notes to the Cash Flow Statement
for the Year Ended 31 January 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2024 2023
£    £   
Profit before taxation 251,602 62,258
Depreciation charges 112,205 93,000
Government grants (17,374 ) (15,839 )
Finance costs 52,558 22,840
398,991 162,259
Decrease/(increase) in stocks 2,525,380 (1,443,100 )
Increase in trade and other debtors (2,054,518 ) (307,990 )
(Decrease)/increase in trade and other creditors (678,556 ) 1,234,099
Cash generated from operations 191,297 (354,732 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2024
31.1.24 1.2.23
£    £   
Cash and cash equivalents 1,035,111 1,139,648
Year ended 31 January 2023
31.1.23 1.2.22
£    £   
Cash and cash equivalents 1,139,648 1,051,273


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.23 Cash flow At 31.1.24
£    £    £   
Net cash
Cash at bank and in hand 1,139,648 (104,537 ) 1,035,111
1,139,648 (104,537 ) 1,035,111
Debt
Finance leases (68,814 ) 33,423 (35,391 )
Debts falling due within 1 year (61,687 ) (144,375 ) (206,062 )
Debts falling due after 1 year (110,154 ) 55,154 (55,000 )
(240,655 ) (55,798 ) (296,453 )
Total 898,993 (160,335 ) 738,658

Cawarden Co. Limited (Registered number: 03948225)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Cawarden Co. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue from contracts for the provision of demolition services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably,revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Profit on construction contracts
The percentage of completion method is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by sales to date over the total contract value, contract costs are then applied using that same proportion to estimated total contract costs to arrive at the profit to be recognised. Actual costs are either accrued or prepaid to ensure the appropriate profit is recognised in accordance with the revenue stage, these costs are presented as prepayments or accruals. Costs incurred in connection with the future activity are treated as work in progress, providing it is probable they will be recovered.

All contract costs are considered to have been incurred by a point 12 months after the date the final invoice is issued to the customer.

Revenue from retentions is recognised as a provision, in line with the stage of completion of the project it os associated to. Provision for contract cost retentions are also recognised on the same basis.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised immediately in the profit and loss account within cost of sales.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in the profit or loss.


Cawarden Co. Limited (Registered number: 03948225)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grants
Grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 26,804,403 19,624,458
26,804,403 19,624,458

Cawarden Co. Limited (Registered number: 03948225)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,208,804 2,809,249
Social security costs 328,740 305,944
Other pension costs 79,297 66,944
3,616,841 3,182,137

The average number of employees during the year was as follows:
2024 2023

Production 83 76

2024 2023
£    £   
Directors' remuneration 301,819 297,072
Directors' pension contributions to money purchase schemes 4,681 3,963

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 4 3

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 100,006 111,349
Pension contributions to money purchase schemes 1,321 1,320

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 83,165 63,960
Depreciation - assets on hire purchase contracts 29,040 29,040
Auditors' remuneration 8,500 8,000

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 49,741 18,286
Hire purchase 2,817 4,554
52,558 22,840

Cawarden Co. Limited (Registered number: 03948225)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. TAXATION

Analysis of the tax credit
The tax credit on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax - 15,741
Tax refunded from prior year (35,741 ) (65,566 )
Total current tax (35,741 ) (49,825 )

Deferred tax 32,117 (14,440 )
Tax on profit (3,624 ) (64,265 )

Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 251,602 62,258
Profit multiplied by the standard rate of corporation tax in the UK of 24%
(2023 - 19%)

60,384

11,829

Effects of:
Expenses not deductible for tax purposes 7,093 8,380
Capital allowances in excess of depreciation (19,088 ) -
Depreciation in excess of capital allowances - 13,471
Utilisation of tax losses (49,376 ) (17,939 )
Adjustments to tax charge in respect of previous periods (35,741 ) (65,566 )
Deferred tax 32,117 (14,440 )
Short term timing differences 987 -
Total tax credit (3,624 ) (64,265 )

Cawarden Co. Limited (Registered number: 03948225)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 February 2023 546,456 9,546 556,002
Additions 173,230 18,015 191,245
At 31 January 2024 719,686 27,561 747,247
DEPRECIATION
At 1 February 2023 340,646 9,406 350,052
Charge for year 109,250 2,955 112,205
At 31 January 2024 449,896 12,361 462,257
NET BOOK VALUE
At 31 January 2024 269,790 15,200 284,990
At 31 January 2023 205,810 140 205,950

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 February 2023
and 31 January 2024 145,000
DEPRECIATION
At 1 February 2023 65,880
Charge for year 29,040
At 31 January 2024 94,920
NET BOOK VALUE
At 31 January 2024 50,080
At 31 January 2023 79,120

9. STOCKS
2024 2023
£    £   
Stocks 702,420 3,227,800

Cawarden Co. Limited (Registered number: 03948225)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,906,576 1,779,296
Amounts owed by participating interests - 9,819
Other debtors 71,429 71,279
Directors' current accounts 4,020 -
VAT - 155,564
Prepayments 85,510 2,858
4,067,535 2,018,816

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 13) 206,062 61,687
Hire purchase contracts (see note 14) 35,391 36,240
Trade creditors 3,079,996 3,929,705
Amounts owed to participating interests 390,217 545,050
Tax - 15,741
Social security and other taxes 102,030 124,415
VAT 195,316 -
Other creditors 56,179 50,707
Directors' current accounts 7,850 4,019
Accrued expenses 15,750 23,000
4,088,791 4,790,564

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 13) 55,000 110,154
Hire purchase contracts (see note 14) - 32,574
55,000 142,728

13. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 206,062 61,687

Amounts falling due between two and five years:
Bank loans - 2-5 years 55,000 110,154

Cawarden Co. Limited (Registered number: 03948225)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

14. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 35,391 36,240
Between one and five years - 32,574
35,391 68,814

15. SECURED DEBTS

The company's bankers held a debenture over all assets of the company dated 10 June 2000.

16. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 71,248 39,131

Deferred
tax
£   
Balance at 1 February 2023 39,131
Provided during year 32,117
Charged to profit and loss
Balance at 31 January 2024 71,248

17. CALLED UP SHARE CAPITAL

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

18. RESERVES
Retained
earnings
£   

At 1 February 2023 1,619,691
Profit for the year 255,226
At 31 January 2024 1,874,917

19. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Pension contributions totalling £9,618 (2023 : £8,757) were payable at the year end and are included in creditors.

Cawarden Co. Limited (Registered number: 03948225)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
W D Crooks
Balance outstanding at start of year 4,019 9,370
Amounts advanced 91,623 92,499
Amounts repaid (99,662 ) (97,850 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,020 ) 4,019

This loan was repaid on 30 June 2024.

21. RELATED PARTY DISCLOSURES

Cawarden Demo Co Limited (a company under common control)
2024 2023
£    £   
Sales 1,062,600 -
Amount due to related party 126,381 490,000

The loan is interest free and there are no fixed repayment terms in operation.

Included in work in progress is £NIL (2023 : £379,000) relating to Cawarden Demo Co Limited.

Fireflux Ltd (a company under common control)
2024 2023
£    £   
Sales 2,629 3,325
Purchases 35,839 27,090
Loans received - 5,000
Amount due from related party - 9,819
Amount due to related party 1,564 -

The loan is interest free and there are no fixed repayment terms in operation.

British & Continental Finance Co. Ltd (a company under common control)
2024 2023
£    £   
Sales 301,472 162,167
Purchases - 96,000
Loans received 248,330 30,000
Amount due to related party 262,272 30,000

The loan is interest free and there are no fixed repayment terms in operation.

22. ULTIMATE CONTROLLING PARTY

The controlling party is W D Crooks.