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Company Registration No. 05044293 (England and Wales)
COSTELLO AND BURGE LIMITED Unaudited accounts for the year ended 31 March 2024
COSTELLO AND BURGE LIMITED Unaudited accounts Contents
Page
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COSTELLO AND BURGE LIMITED Company Information for the year ended 31 March 2024
Directors
Mr A P Burge Mr M Costello
Secretary
M L Costello
Company Number
05044293 (England and Wales)
Registered Office
115 Eppleworth Road Cottingham East Yorkshire HU16 5YG United Kingdom
Accountants
Kendall Accountancy Services Limited 2 Exeter Street New Village Road Cottingham East Yorkshire HU16 4LU
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COSTELLO AND BURGE LIMITED Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
46,917 
66,653 
Current assets
Inventories
1,000 
1,000 
Debtors
39,999 
101,148 
Cash at bank and in hand
98,228 
71,337 
139,227 
173,485 
Creditors: amounts falling due within one year
(122,550)
(127,643)
Net current assets
16,677 
45,842 
Total assets less current liabilities
63,594 
112,495 
Creditors: amounts falling due after more than one year
(16,587)
(26,854)
Provisions for liabilities
Deferred tax
(8,914)
(12,664)
Net assets
38,093 
72,977 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
38,091 
72,975 
Shareholders' funds
38,093 
72,977 
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 directors acknowledge their 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 of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by
Mr M Costello Director Company Registration No. 05044293
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COSTELLO AND BURGE LIMITED Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
COSTELLO AND BURGE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05044293. The registered office is 115 Eppleworth Road, Cottingham, East Yorkshire, HU16 5YG, United Kingdom.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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
20% on cost
Motor vehicles
25% on reducing balance basis
Fixtures & fittings
20% on cost
Computer equipment
20% on cost
Turnover
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.
Inventories
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.
Leased assets
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.
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COSTELLO AND BURGE LIMITED Notes to the Accounts for the year ended 31 March 2024
Government grants
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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
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.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
9,547 
110,745 
609 
120,901 
Disposals
- 
(10,927)
- 
(10,927)
At 31 March 2024
9,547 
99,818 
609 
109,974 
Depreciation
At 1 April 2023
6,883 
46,756 
609 
54,248 
Charge for the year
577 
13,016 
- 
13,593 
On disposals
- 
(4,784)
- 
(4,784)
At 31 March 2024
7,460 
54,988 
609 
63,057 
Net book value
At 31 March 2024
2,087 
44,830 
- 
46,917 
At 31 March 2023
2,664 
63,989 
- 
66,653 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
2,289 
7,458 
Trade debtors
36,328 
93,690 
Other debtors
1,382 
- 
39,999 
101,148 
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COSTELLO AND BURGE LIMITED Notes to the Accounts for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
9,991 
9,605 
Trade creditors
56,997 
65,628 
Taxes and social security
12,691 
11,586 
Other creditors
4,825 
2,781 
Loans from directors
38,046 
38,043 
122,550 
127,643 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
16,587 
26,854 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Transactions with related parties
At 31/03/2024 Costello and Burge Limited owes Costello and Burge Holdings Limited £2000.
10
Average number of employees
During the year the average number of employees was 6 (2023: 6).
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