Company Registration No. 3179355 (England and Wales)
Castle Doors LTD
Unaudited accounts
for the year ended 31 March 2024
Castle Doors LTD
Unaudited accounts
Contents
Castle Doors LTD
Statement of financial position
as at 31 March 2024
Tangible assets
271,317
235,049
Inventories
365,890
278,185
Cash at bank and in hand
211,241
370,931
Creditors: amounts falling due within one year
(427,746)
(417,819)
Net current assets
477,438
463,665
Net assets
748,755
698,714
Called up share capital
10
10
Profit and loss account
748,745
698,704
Shareholders' funds
748,755
698,714
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 October 2024 and were signed on its behalf by
Lee Moon
Director
Company Registration No. 3179355
Castle Doors LTD
Notes to the Accounts
for the year ended 31 March 2024
Castle Doors LTD is a private company, limited by shares, registered in England and Wales, registration number 3179355. The registered office is UNIT 19 Fort Industrial Park, Chester Rd, Dunlop Way, Birmingham, West Midlands, B35 7AR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on the reducing balance
Motor vehicles
20% on the reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Castle Doors LTD
Notes to the Accounts
for the year ended 31 March 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2023
429,466
261,760
691,226
Additions
8,038
127,232
135,270
Disposals
(24,146)
(91,120)
(115,266)
At 31 March 2024
413,358
297,872
711,230
At 1 April 2023
297,477
158,700
456,177
Charge for the year
33,923
42,373
76,296
On disposals
(19,846)
(72,714)
(92,560)
At 31 March 2024
311,554
128,359
439,913
At 31 March 2024
101,804
169,513
271,317
At 31 March 2023
131,989
103,060
235,049
Amounts falling due within one year
Trade debtors
328,053
232,368
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
32,801
41,572
Obligations under finance leases and hire purchase contracts
101,416
65,443
Trade creditors
222,922
239,425
Taxes and social security
22,061
38,770
Loans from directors
201
309
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
Castle Doors LTD
Notes to the Accounts
for the year ended 31 March 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan Account
309
-
108
201
9
Average number of employees
During the year the average number of employees was 32 (2023: 32).