Company registration number 09967451 (England and Wales)
CIVIC PROJECTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
CIVIC PROJECTS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
CIVIC PROJECTS LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr M Fisher
Company number
09967451
Registered office
Riverside House
Kings Reach Business Park
Yew Street
Stockport
Cheshire
SK4 2HD
Accountants
Hallidays
Riverside House
Kings Reach Business Park
Yew Street
Stockport
Cheshire
SK4 2HD
CIVIC PROJECTS LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
15,058
19,423
Current assets
Stocks
6
434,734
331,125
Debtors
7
117,340
73,682
Cash at bank and in hand
149
139
552,223
404,946
Creditors: amounts falling due within one year
8
(332,621)
(230,188)
Net current assets
219,602
174,758
Total assets less current liabilities
234,660
194,181
Creditors: amounts falling due after more than one year
9
(24,724)
(51,484)
Provisions for liabilities
(716)
-
0
Net assets
209,220
142,697
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
209,120
142,597
Total equity
209,220
142,697

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

CIVIC PROJECTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024
31 January 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 31 October 2024
Mr M Fisher
Director
Company registration number 09967451 (England and Wales)
CIVIC PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
1
Accounting policies
Company information

Civic Projects Limited is a private company limited by shares incorporated in England and Wales. The registered office is Riverside House, Kings Reach Business Park, Yew Street, Stockport, Cheshire, SK4 2HD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis.

1.3
Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

 

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold property improvements
10% Straight Line
Fixtures and fittings
20% Reducing Balance
Computers
25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

CIVIC PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Work In Progress

Contract revenue and contract costs are recognised as revenue and expenses respectively by reference to the stage of completion at the end of the reporting period. The stage of completion of contracts in progress is based on the proportion of costs incurred for work performed to date in relation to the estimated total costs. Reliable estimation of the outcome of construction contracts requires estimated of the stage of completion future costs and collectability of billings.

When the outcome of a construction contract cannot be estimated reliably, revenue is only recognised to the extent of contract costs incurred that it is probable will be recoverable.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

CIVIC PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation
Current tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss,except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

 

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

CIVIC PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Depreciation of owned tangible fixed assets
4,365
6,583
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
2
5
Tangible fixed assets
Leasehold property improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 February 2023 and 31 January 2024
22,803
3,391
7,382
33,576
Depreciation and impairment
At 1 February 2023
9,235
1,088
3,830
14,153
Depreciation charged in the year
2,280
460
1,625
4,365
At 31 January 2024
11,515
1,548
5,455
18,518
Carrying amount
At 31 January 2024
11,288
1,843
1,927
15,058
At 31 January 2023
13,568
2,303
3,552
19,423
CIVIC PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 8 -
6
Work in progress
2024
2023
£
£
Work in progress
434,734
331,125
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
95,826
48,688
Other debtors
21,514
24,994
117,340
73,682
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
63,162
66,543
Trade creditors
2,741
3,822
Taxation and social security
254,697
131,735
Other creditors
12,021
28,088
332,621
230,188
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
24,724
51,484
10
Directors' transactions

At the balance sheet date the amount due from the director was £10,636 (2023: £12,287). This amount is interest free and repayable within 9 months of the year end.

11
Control

The company is controlled by Mr M Fisher by virtue of their shareholding.

2024-01-312023-02-01false31 October 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr M Fisherfalsefalse099674512023-02-012024-01-3109967451bus:Director12023-02-012024-01-3109967451bus:RegisteredOffice2023-02-012024-01-31099674512024-01-31099674512023-01-3109967451core:LeaseholdImprovements2024-01-3109967451core:FurnitureFittings2024-01-3109967451core:ComputerEquipment2024-01-3109967451core:LeaseholdImprovements2023-01-3109967451core:FurnitureFittings2023-01-3109967451core:ComputerEquipment2023-01-3109967451core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3109967451core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3109967451core:Non-currentFinancialInstrumentscore:AfterOneYear2024-01-3109967451core:Non-currentFinancialInstrumentscore:AfterOneYear2023-01-3109967451core:CurrentFinancialInstruments2024-01-3109967451core:CurrentFinancialInstruments2023-01-3109967451core:ShareCapital2024-01-3109967451core:ShareCapital2023-01-3109967451core:RetainedEarningsAccumulatedLosses2024-01-3109967451core:RetainedEarningsAccumulatedLosses2023-01-3109967451core:LeaseholdImprovements2023-02-012024-01-3109967451core:FurnitureFittings2023-02-012024-01-3109967451core:ComputerEquipment2023-02-012024-01-31099674512022-02-012023-01-3109967451core:LeaseholdImprovements2023-01-3109967451core:FurnitureFittings2023-01-3109967451core:ComputerEquipment2023-01-31099674512023-01-3109967451core:WithinOneYear2024-01-3109967451core:WithinOneYear2023-01-3109967451core:Non-currentFinancialInstruments2024-01-3109967451core:Non-currentFinancialInstruments2023-01-3109967451bus:PrivateLimitedCompanyLtd2023-02-012024-01-3109967451bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3109967451bus:FRS1022023-02-012024-01-3109967451bus:AuditExemptWithAccountantsReport2023-02-012024-01-3109967451bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP