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COMPANY REGISTRATION NUMBER: 14736939
Cambrensis Civil Engineering Limited
Unaudited Financial Statements
31 March 2024
Cambrensis Civil Engineering Limited
Financial Statements
Period from 17 March 2023 to 31 March 2024
CONTENTS
PAGE
Officers and professional advisers
1
Directors' report
2
Report to the board of directors on the preparation of the unaudited statutory financial statements
3
Statement of comprehensive income
4
Statement of financial position
5
Statement of changes in equity
7
Notes to the financial statements
8
Cambrensis Civil Engineering Limited
Officers and Professional Advisers
The board of directors
Mr A Griffiths (Appointed 17 March 2023)
Mr T C Davies (Appointed 02 October 2024)
Mr T James (Appointed 02 October 2024)
Mr T L Rosser (Appointed 02 October 2024)
Mr H N Thomas (Appointed 02 October 2024)
Registered office
21 Nevill Street
Gwent
Abergavenny
Wales
NP7 5AA
Accountants
James & Uzzell Ltd
Chartered Certified Accountants
Axis 15, Axis Court
Mallard Way
Riverside Business Park
Swansea
SA7 0AJ
Cambrensis Civil Engineering Limited
Directors' Report
Period from 17 March 2023 to 31 March 2024
The directors present their report and the unaudited financial statements of the company for the period ended 31 March 2024 .
DIRECTORS
The directors who served the company during the period were as follows:
Mr A Griffiths (Appointed 17 March 2023)
Mr T C Davies (Appointed 02 October 2024)
Mr T James (Appointed 02 October 2024)
Mr T L Rosser (Appointed 02 October 2024)
Mr H N Thomas (Appointed 02 October 2024)
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 14 October 2024 and signed on behalf of the board by:
T C Davies
Mr T C Davies
Director
Cambrensis Civil Engineering Limited
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Cambrensis Civil Engineering Limited
Period from 17 March 2023 to 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cambrensis Civil Engineering Limited for the period ended 31 March 2024, which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
James & Uzzell Ltd Chartered Certified Accountants
Axis 15, Axis Court Mallard Way Riverside Business Park Swansea SA7 0AJ
17 October 2024
Cambrensis Civil Engineering Limited
Statement of Comprehensive Income
Period from 17 March 2023 to 31 March 2024
Period from
17 Mar 23 to
31 Mar 24
Note
£
TURNOVER
878,962
Cost of sales
452,166
---------
GROSS PROFIT
426,796
Administrative expenses
356,390
---------
OPERATING PROFIT
4
70,406
Other interest receivable and similar income
6
9,713
Interest payable and similar expenses
7
975
---------
PROFIT BEFORE TAXATION
79,144
Tax on profit
23,488
--------
PROFIT FOR THE FINANCIAL PERIOD AND TOTAL COMPREHENSIVE INCOME
55,656
--------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the period as set out above.
Cambrensis Civil Engineering Limited
Statement of Financial Position
31 March 2024
31 Mar 24
Note
£
FIXED ASSETS
Tangible assets
8
222,509
CURRENT ASSETS
Debtors
9
1,102,955
Cash at bank and in hand
607,321
------------
1,710,276
CREDITORS: amounts falling due within one year
10
335,151
------------
NET CURRENT ASSETS
1,375,125
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,597,634
CREDITORS: amounts falling due after more than one year
11
1,518,489
PROVISIONS
23,488
------------
NET ASSETS
55,657
------------
CAPITAL AND RESERVES
Called up share capital
12
1
Profit and loss account
55,656
--------
SHAREHOLDERS FUNDS
55,657
--------
These financial statements have been prepared 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'.
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Cambrensis Civil Engineering Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 14 October 2024 , and are signed on behalf of the board by:
Mr T James
Director
Company registration number: 14736939
Cambrensis Civil Engineering Limited
Statement of Changes in Equity
Period from 17 March 2023 to 31 March 2024
Called up share capital
Profit and loss account
Total
£
£
£
AT 17 MARCH 2023
Profit for the period
55,656
55,656
----
--------
--------
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD
55,656
55,656
Issue of shares
1
1
----
----
----
TOTAL INVESTMENTS BY AND DISTRIBUTIONS TO OWNERS
1
1
----
--------
--------
AT 31 MARCH 2024
1
55,656
55,657
----
--------
--------
Cambrensis Civil Engineering Limited
Notes to the Financial Statements
Period from 17 March 2023 to 31 March 2024
1. GENERAL INFORMATION
Cambrensis Civil Engineering Limited is a private company limited by shares incorporated in England & Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities are civil engineering.
2. STATEMENT OF COMPLIANCE
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102)', Section 1A for Small Entities and the Companies Act 2006.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The reporting period of these financial statements is 13 months. These financial statements only include the results of the individual entity made up to 31 March 2024. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
The director has considered the future trading position of the company and is confident that the going concern principle can be applied to the financial statements. The director has also pledged his support to the company.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Critical accounting estimates and assumptions
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below
(i) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 12 for the carrying amount of the property plant and equipment, and the depreciation accounting policy for the useful economic lives for each class of assets.
(ii) Impairment of debtors
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 13 for the net carrying amount of the debtors and associated impairment provision.
(iii) Goodwill and intangible fixed assets
Accounting standards require the recognition of intangible assets as part of a business combination. The methods used to value such intangible assets require the use of estimates. Future results are impacted by the amortisation periods adopted and changes to the estimated useful lives would result in different effects on the profit and loss account and balance sheet. Goodwill is amortised and tested at least annually for impairment along with finite lives of intangible assets and other assets. Tests for impairment are based on subjective assumptions.
(iv) Accounting for construction contracts
Recognition of turnover and profit is based on judgements made in respect of the ultimate profitability of a contract. Such judgements are arrived at through the use of estimates in relation to costs and value of work performed to date and to be performed in bringing contracts to completion, including satisfaction of maintenance responsibilities. These estimates are made by reference to recovery of pre-contract costs, surveys of progress against the construction programme, changes in work scope, the contractual terms under which the work is being performed including the recoverability of any unagreed income from variations on the likely outcome of discussions on claims, costs incurred and external certification of the work performed. The company has the appropriate control procedures to ensure all estimates are determined on a consistent basis and subject to appropriate review and authorisation.
(v) Provisions
Estimates are used in determining the value of provisions when recognised. This will be based on historical information, known expectations and reasonable outcomes
(viii) Going Concern
The assessment of going concern may include the use of critical judgements in respect of impact of various external factors such as political, economic and social issues. Material uncertainties are considered in this regard
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: Rendering of services When the outcome of a transaction can be estimated reliably, turnover from insert detail is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to insert detail. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. Construction contracts When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to insert detail. Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable. When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision. Interest receivable Interest income is recognised using the effective interest method.
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Tangible assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% straight line
Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Leases
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. Where goods are sold using finance leases, the entity recognises turnover from the sale of goods and the rights to receive future lease payments as a debtor. Minimum lease payments are apportioned between finance income and the reduction of the lease debtor with finance income allocated so as to produce a constant periodic rate of interest on the net investment in the finance lease. Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
4. OPERATING PROFIT
Operating profit or loss is stated after charging:
Period from
17 Mar 23 to
31 Mar 24
£
Depreciation of tangible assets
4,285
------
5. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 11 .
6. OTHER INTEREST RECEIVABLE AND SIMILAR INCOME
Period from
17 Mar 23 to
31 Mar 24
£
Interest on cash and cash equivalents
9,713
------
7. INTEREST PAYABLE AND SIMILAR EXPENSES
Period from
17 Mar 23 to
31 Mar 24
£
Interest on obligations under finance leases and hire purchase contracts
975
----
8. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 17 March 2023
Additions
7,240
4,205
215,349
226,794
------
------
---------
---------
At 31 March 2024
7,240
4,205
215,349
226,794
------
------
---------
---------
Depreciation
At 17 March 2023
Charge for the period
385
417
3,483
4,285
------
------
---------
---------
At 31 March 2024
385
417
3,483
4,285
------
------
---------
---------
Carrying amount
At 31 March 2024
6,855
3,788
211,866
222,509
------
------
---------
---------
9. DEBTORS
31 Mar 24
£
Trade debtors
524,043
Other debtors
578,912
------------
1,102,955
------------
10. CREDITORS: amounts falling due within one year
31 Mar 24
£
Trade creditors
124,044
Social security and other taxes
25,046
Other creditors
186,061
---------
335,151
---------
The total amount of secured liabilities is £22,871 relating to hire purchase contracts. These are secured over the assets to which they relate.
11. CREDITORS: amounts falling due after more than one year
31 Mar 24
£
Other creditors
1,518,489
------------
The total amount of secured liabilities is £18,489 relating to hire purchase contracts. These are secured over the assets to which they relate.
12. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
31 Mar 24
No.
£
Ordinary shares of £ 1 each
1
1
----
----
13. RELATED PARTY TRANSACTIONS
At the year end, the company owed the director £1,499,999. No interest has been charged on this balance.