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REGISTERED NUMBER: 01188011 (England and Wales)















Unaudited Financial Statements for the Year Ended 29th February 2024

for

CATTERALL & WOOD LIMITED

CATTERALL & WOOD LIMITED (REGISTERED NUMBER: 01188011)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CATTERALL & WOOD LIMITED

Company Information
for the Year Ended 29th February 2024







DIRECTORS: Mr A W Catterall
Mr C Catterall





REGISTERED OFFICE: Unit 2, Primrose Bank Mill
Friday Street
Chorley
Lancashire
PR6 0AH





REGISTERED NUMBER: 01188011 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

CATTERALL & WOOD LIMITED (REGISTERED NUMBER: 01188011)

Balance Sheet
29th February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 172,565 175,315

CURRENT ASSETS
Stocks 5 58,691 45,630
Debtors 6 37,508 44,064
Cash at bank and in hand 41,476 62,842
137,675 152,536
CREDITORS
Amounts falling due within one year 7 76,912 95,713
NET CURRENT ASSETS 60,763 56,823
TOTAL ASSETS LESS CURRENT
LIABILITIES

233,328

232,138

CREDITORS
Amounts falling due after more than one
year

8

(35,824

)

(44,545

)

PROVISIONS FOR LIABILITIES (6,344 ) (6,194 )
NET ASSETS 191,160 181,399

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Non distributable reserves 119,500 120,002
Retained earnings 70,660 60,397
SHAREHOLDERS' FUNDS 191,160 181,399

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

The members have not required the company to obtain an audit of its financial statements for the year ended 29th 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.

CATTERALL & WOOD LIMITED (REGISTERED NUMBER: 01188011)

Balance Sheet - continued
29th 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 Board of Directors and authorised for issue on 30th September 2024 and were signed on its behalf by:




Mr A W Catterall - Director



Mr C Catterall - Director


CATTERALL & WOOD LIMITED (REGISTERED NUMBER: 01188011)

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

1. STATUTORY INFORMATION

Catterall & Wood 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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Other financial liabilities
In a departure from FRS 102 Section 1A for small entities, no depreciation is provided in respect of freehold properties. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. The directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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

CATTERALL & WOOD LIMITED (REGISTERED NUMBER: 01188011)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes 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 an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

CATTERALL & WOOD LIMITED (REGISTERED NUMBER: 01188011)

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

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1st March 2023 165,000 74,692 14,870 4,221 258,783
Disposals - - (5,500 ) - (5,500 )
At 29th February 2024 165,000 74,692 9,370 4,221 253,283
DEPRECIATION
At 1st March 2023 - 71,611 7,870 3,987 83,468
Charge for year - 941 1,750 59 2,750
Eliminated on disposal - - (5,500 ) - (5,500 )
At 29th February 2024 - 72,552 4,120 4,046 80,718
NET BOOK VALUE
At 29th February 2024 165,000 2,140 5,250 175 172,565
At 28th February 2023 165,000 3,081 7,000 234 175,315

Cost or valuation at 29th February 2024 is represented by:

Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
Valuation in 2011 209,236 - - - 209,236
Valuation in 2021 (85,000 ) - - - (85,000 )
Cost 40,764 74,692 9,370 4,221 129,047
165,000 74,692 9,370 4,221 253,283

The freehold property was valued on an open market basis on 28 February 2021 by an independent valuer using the fair value method.

5. STOCKS
29.2.24 28.2.23
£    £   
Raw materials 58,691 45,630

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 33,363 41,914
Amounts recoverable on contract 2,945 2,150
Prepayments 1,200 -
37,508 44,064

CATTERALL & WOOD LIMITED (REGISTERED NUMBER: 01188011)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts (see note 9) 4,518 4,407
Trade creditors 43,904 61,037
Tax 15,738 17,817
Social security and other taxes 2,102 2,269
VAT 5,997 5,877
Accruals 4,653 4,306
76,912 95,713

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans (see note 9) 25,663 30,181
Directors' loan accounts 10,161 14,364
35,824 44,545

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,423 11,414

9. LOANS

The bank loan represents a "Bounce Back" loan which is a Government-backed loan in relation to Covid-19.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
10,000 Ordinary £0.10 1,000 1,000

11. RELATED PARTY DISCLOSURES

Included in creditors, amounts due after one year, are loans from the directors of £10,161 (2023: £14,364). There is no interest charged on these loans. The directors don't intend to request payment until such time that the company can sustain it, and therefore they consider the company to be a going concern.