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
COSTELLO AND BURGE LIMITED
Company Information
for the year ended 31 March 2024
Directors
Mr A P Burge
Mr M 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
COSTELLO AND BURGE LIMITED
Statement of financial position
as at 31 March 2024
Tangible assets
46,917
66,653
Cash at bank and in hand
98,228
71,337
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)
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
COSTELLO AND BURGE LIMITED
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
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 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 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.
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.
COSTELLO AND BURGE LIMITED
Notes to the Accounts
for the year ended 31 March 2024
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 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.
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
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
At 31 March 2024
2,087
44,830
-
46,917
At 31 March 2023
2,664
63,989
-
66,653
Amounts falling due within one year
Trade debtors
36,328
93,690
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
7
Creditors: amounts falling due after more than one year
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).