REGISTERED NUMBER: |
CTA Developments Limited |
Unaudited Financial Statements for the Year Ended 31 October 2023 |
REGISTERED NUMBER: |
CTA Developments Limited |
Unaudited Financial Statements for the Year Ended 31 October 2023 |
CTA Developments Limited (Registered number: 09268805) |
Contents of the Financial Statements |
for the Year Ended 31 October 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
CTA Developments Limited |
Company Information |
for the Year Ended 31 October 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
5 Queen Street |
Great Yarmouth |
Norfolk |
NR30 2QP |
CTA Developments Limited (Registered number: 09268805) |
Statement of Financial Position |
31 October 2023 |
31/10/23 | 31/10/22 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Prepayments and accrued income |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets/(liabilities) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
( |
) |
Provisions for liabilities | 10 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Retained earnings |
Shareholders' funds |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
CTA Developments Limited (Registered number: 09268805) |
Statement of Financial Position - continued |
31 October 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
CTA Developments Limited (Registered number: 09268805) |
Notes to the Financial Statements |
for the Year Ended 31 October 2023 |
1. | Statutory information |
CTA Developments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents revenue recognised by the company, excluding value added tax, of work done during the year and derives from the provision of services falling within the companys ordinary activities. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
Motor vehicles 25% per annum reducing balance basis |
Plant & machinery 15% per annum reducing balance basis |
Stock & work in progress |
Stock & Work in progress is valued at the lower of cost and net realisable value. |
Financial instruments |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financial transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
CTA Developments Limited (Registered number: 09268805) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
2. | Accounting policies - continued |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
Cost |
At 1 November 2022 |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 October 2023 |
Depreciation |
At 1 November 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 October 2023 |
Net book value |
At 31 October 2023 |
At 31 October 2022 |
5. | Debtors: amounts falling due within one year |
31/10/23 | 31/10/22 |
£ | £ |
Other debtors |
VAT |
6. | Creditors: amounts falling due within one year |
31/10/23 | 31/10/22 |
£ | £ |
Other loans (see note 8) |
Hire purchase contracts |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | 1,007 | - |
Other creditors |
Directors' current accounts | 79,143 | 50,404 |
CTA Developments Limited (Registered number: 09268805) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
7. | Creditors: amounts falling due after more than one year |
31/10/23 | 31/10/22 |
£ | £ |
Hire purchase contracts |
8. | Loans |
An analysis of the maturity of loans is given below: |
31/10/23 | 31/10/22 |
£ | £ |
Amounts falling due within one year or on demand: |
Other loans |
9. | Secured debts |
The following secured debts are included within creditors: |
31/10/23 | 31/10/22 |
£ | £ |
Other loans |
Hire purchase contracts | - | 7,740 |
The companys bank overdraft is secured by way of a personal guarantee from the company directors. |
Amounts due under hire purchase contracts are secured upon the asset concerned. |
10. | Provisions for liabilities |
31/10/23 | 31/10/22 |
£ | £ |
Deferred tax | 3,192 | 6,787 |
Deferred |
tax |
£ |
Balance at 1 November 2022 |
Credit to Income Statement during year | ( |
) |
Balance at 31 October 2023 |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/10/23 | 31/10/22 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
12. | Related party disclosures |
a) During the year directors CT & Mrs H Appleton made advances to the company which were unsecured and interest free. At the year end the company owed directors CT Appleton & Mrs H Appleton £79,143 (2022 £50,404) |
CTA Developments Limited (Registered number: 09268805) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
13. | Ultimate controlling party |
CT Appleton & Mrs H Appleton are the companys ultimate controllers by virtue of their majority shareholding. |