Registered number
05903811
Charcoal Burner Limited
Filleted Accounts
31 January 2024
Charcoal Burner Limited
Registered number: 05903811
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 22,301 29,943
Tangible assets 4 863 2,593
23,164 32,536
Current assets
Stocks 16,568 16,568
Debtors 5 24,049 25,730
Cash at bank and in hand 140 1,307
40,757 43,605
Creditors: amounts falling due within one year 6 (425,105) (362,570)
Net current liabilities (384,348) (318,965)
Total assets less current liabilities (361,184) (286,429)
Creditors: amounts falling due after more than one year 7 (57,946) (77,939)
Net liabilities (419,130) (364,368)
Capital and reserves
Called up share capital 2 2
Profit and loss account (419,132) (364,370)
Shareholders' funds (419,130) (364,368)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Joslin
Director
Approved by the board on 29 October 2024
Charcoal Burner Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 152,852
At 31 January 2024 152,852
Amortisation
At 1 February 2023 122,909
Provided during the year 7,642
At 31 January 2024 130,551
Net book value
At 31 January 2024 22,301
At 31 January 2023 29,943
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 32,074
Additions 591
At 31 January 2024 32,665
Depreciation
At 1 February 2023 29,481
Charge for the year 2,321
At 31 January 2024 31,802
Net book value
At 31 January 2024 863
At 31 January 2023 2,593
5 Debtors 2024 2023
£ £
Trade debtors 19,520 21,201
Other debtors 4,529 4,529
24,049 25,730
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 13,232 22,027
Trade creditors 40,635 29,837
Taxation and social security costs 242,447 210,194
Other creditors 128,791 100,512
425,105 362,570
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 57,946 77,939
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 10,290 20,280
Secured bank loans 40,695 50,687
The bank loans are secured on the assets and undertaking of the business.
9 Controlling party
The company considers the directors to be its controlling parties.
10 Other information
Charcoal Burner Limited is a private company limited by shares and incorporated in England. Its registered office is:
Weald Drive
Furnace Green
Crawley
West Sussex
RH10 6NY
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