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Company registration number: 08089066
CONSERVATION & RESTORATION LIMITED
Trading as ENGLISH LEADWORKS
Unaudited financial statements
31 March 2024
CONSERVATION & RESTORATION LIMITED
Contents
Directors and other information
Directors report
Accountants report
Statement of income and retained earnings
Statement of financial position
Notes to the financial statements
CONSERVATION & RESTORATION LIMITED
Directors and other information
Directors Mr S Perryman
Mrs T Perryman
Company number 08089066
Registered office 15 Lampits Hill
Corringham
Essex
SS17 9AA
Business address 2 Amyris
Main Road
Marpitt Hill
Kent
TN8 6JH
Accountants A.W. Fenn & Co
15 Lampits Hill
Corringham
Essex
SS17 9AA
Bankers Natwest
80 High Street
Sevenoaks
Kent
TN13 1LR
CONSERVATION & RESTORATION LIMITED
Directors report
Year ended 31st March 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31st March 2024.
Directors
The directors who served the company during the year were as follows:
Mr S Perryman
Mrs T Perryman
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 13 September 2024 and signed on behalf of the board by:
Mr S Perryman
Director
CONSERVATION & RESTORATION LIMITED
Report to the board of directors on the preparation of the
unaudited statutory financial statements of CONSERVATION & RESTORATION LIMITED
Year ended 31st March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of CONSERVATION & RESTORATION LIMITED for the year ended 31st March 2024 which comprise the statement of income and retained earnings, statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of CONSERVATION & RESTORATION LIMITED, as a body, in accordance with the terms of our engagement letter dated 30th September 2021. Our work has been undertaken solely to prepare for your approval the financial statements of CONSERVATION & RESTORATION LIMITED and state those matters that we have agreed to state to the board of directors of CONSERVATION & RESTORATION LIMITED as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CONSERVATION & RESTORATION LIMITED and its board of directors as a body for our work or for this report.
It is your duty to ensure that CONSERVATION & RESTORATION LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of CONSERVATION & RESTORATION LIMITED. You consider that CONSERVATION & RESTORATION LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of CONSERVATION & RESTORATION LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
A.W. Fenn & Co
Chartered Certified Accountants
15 Lampits Hill
Corringham
Essex
SS17 9AA
17th September 2024
CONSERVATION & RESTORATION LIMITED
Statement of income and retained earnings
Year ended 31st March 2024
2024 2023
Note £ £
Turnover 333,543 384,504
Cost of sales ( 151,362) ( 148,354)
_______ _______
Gross profit 182,181 236,150
Administrative expenses ( 107,007) ( 80,704)
_______ _______
Operating profit 75,174 155,446
Other interest receivable and similar income 15 4
Interest payable and similar expenses ( 1,171) ( 1,387)
_______ _______
Profit before taxation 5 74,018 154,063
Tax on profit ( 15,607) ( 29,273)
_______ _______
Profit for the financial year and total comprehensive income 58,411 124,790
_______ _______
Dividends declared and paid or payable during the year ( 70,561) ( 84,160)
Retained earnings at the start of the year 153,326 112,696
_______ _______
Retained earnings at the end of the year 141,176 153,326
_______ _______
All the activities of the company are from continuing operations.
CONSERVATION & RESTORATION LIMITED
Statement of financial position
31st March 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 6 - -
Tangible assets 7 23,151 9,640
_______ _______
23,151 9,640
Current assets
Debtors 8 34,875 27,838
Cash at bank and in hand 212,293 238,961
_______ _______
247,168 266,799
Creditors: amounts falling due
within one year 9 ( 60,921) ( 56,889)
_______ _______
Net current assets 186,247 209,910
_______ _______
Total assets less current liabilities 209,398 219,550
Creditors: amounts falling due
after more than one year 10 ( 24,801) ( 25,833)
Provisions for liabilities ( 4,861) ( 1,831)
_______ _______
Net assets 179,736 191,886
_______ _______
Capital and reserves
Called up share capital 38,560 38,560
Profit and loss account 141,176 153,326
_______ _______
Shareholders funds 179,736 191,886
_______ _______
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.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 13 September 2024 , and are signed on behalf of the board by:
Mr S Perryman
Director
Company registration number: 08089066
CONSERVATION & RESTORATION LIMITED
Notes to the financial statements
Year ended 31st March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Lampits Hill, Corringham, Essex, SS17 9AA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - written off over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25% reducing balance basis
Motor vehicles - 25% reducing balance basis
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible assets 7,717 3,213
_______ _______
6. Intangible assets
Goodwill Total
£ £
Cost
At 1st April 2023 and 31st March 2024 47,050 47,050
_______ _______
Amortisation
At 1st April 2023 and 31st March 2024 47,050 47,050
_______ _______
Carrying amount
At 31st March 2024 - -
_______ _______
At 31st March 2023 - -
_______ _______
7. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1st April 2023 3,006 21,978 24,984
Additions - 30,500 30,500
Disposals - ( 21,978) ( 21,978)
_______ _______ _______
At 31st March 2024 3,006 30,500 33,506
_______ _______ _______
Depreciation
At 1st April 2023 2,638 12,706 15,344
Charge for the year 92 7,625 7,717
Disposals - ( 12,706) ( 12,706)
_______ _______ _______
At 31st March 2024 2,730 7,625 10,355
_______ _______ _______
Carrying amount
At 31st March 2024 276 22,875 23,151
_______ _______ _______
At 31st March 2023 368 9,272 9,640
_______ _______ _______
8. Debtors
2024 2023
£ £
Trade debtors 34,875 27,838
_______ _______
9. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 5,076 1,895
Corporation tax 12,577 29,884
Social security and other taxes 25,040 9,652
Other creditors 8,228 5,458
_______ _______
60,921 56,889
_______ _______
10. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 8,968 -
Other creditors 15,833 25,833
_______ _______
24,801 25,833
_______ _______
11. Related party transactions
The company paid dividends totalling £70,561 (2023 £84,160) during this year, the serving directors receive dividends.
12. Controlling party
The company is controlled by its directors Mr S. Perryman and Mrs T. Perryman.