Commercial Refurbishment Specialists Limited 11491919 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is building contractors Digita Accounts Production Advanced 6.30.9574.0 true true 11491919 2023-04-01 2024-03-31 11491919 2024-03-31 11491919 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-03-31 11491919 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2024-03-31 11491919 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2024-03-31 11491919 bus:OrdinaryShareClass4 bus:Non-cumulativeShares 2024-03-31 11491919 core:CurrentFinancialInstruments 2024-03-31 11491919 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11491919 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 11491919 core:FurnitureFittingsToolsEquipment 2024-03-31 11491919 core:MotorVehicles 2024-03-31 11491919 bus:SmallEntities 2023-04-01 2024-03-31 11491919 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11491919 bus:FilletedAccounts 2023-04-01 2024-03-31 11491919 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11491919 bus:RegisteredOffice 2023-04-01 2024-03-31 11491919 bus:Director1 2023-04-01 2024-03-31 11491919 bus:Director2 2023-04-01 2024-03-31 11491919 bus:Director3 2023-04-01 2024-03-31 11491919 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-04-01 2024-03-31 11491919 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2023-04-01 2024-03-31 11491919 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2023-04-01 2024-03-31 11491919 bus:OrdinaryShareClass4 bus:Non-cumulativeShares 2023-04-01 2024-03-31 11491919 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11491919 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 11491919 core:MotorVehicles 2023-04-01 2024-03-31 11491919 countries:AllCountries 2023-04-01 2024-03-31 11491919 2023-03-31 11491919 core:FurnitureFittingsToolsEquipment 2023-03-31 11491919 core:MotorVehicles 2023-03-31 11491919 2022-04-01 2023-03-31 11491919 2023-03-31 11491919 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-03-31 11491919 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2023-03-31 11491919 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2023-03-31 11491919 bus:OrdinaryShareClass4 bus:Non-cumulativeShares 2023-03-31 11491919 core:CurrentFinancialInstruments 2023-03-31 11491919 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11491919 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 11491919 core:FurnitureFittingsToolsEquipment 2023-03-31 11491919 core:MotorVehicles 2023-03-31 11491919 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-04-01 2023-03-31 11491919 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2022-04-01 2023-03-31 11491919 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2022-04-01 2023-03-31 11491919 bus:OrdinaryShareClass4 bus:Non-cumulativeShares 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11491919

Commercial Refurbishment Specialists Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Commercial Refurbishment Specialists Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Commercial Refurbishment Specialists Limited

Company Information

Directors

W Holten

J Jardine

I Jardine

Registered office

Ground Floor
Unit 11
Charter Point Way
Leicestershire
LE65 1NF

Accountants

Cheryl Major Ltd
Chartered Accountant
16 Elliot Close
Whetstone
Leicester
Leicestershire
LE8 6QX

 

Commercial Refurbishment Specialists Limited

(Registration number: 11491919)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

15,360

10,116

Current assets

 

Stocks

5

21,000

60,342

Debtors

6

295,395

161,392

Cash at bank and in hand

 

86,556

130,653

 

402,951

352,387

Prepayments and accrued income

 

1,762

7,744

Creditors: Amounts falling due within one year

(303,999)

(317,214)

Net current assets

 

100,714

42,917

Total assets less current liabilities

 

116,074

53,033

Creditors: Amounts falling due after more than one year

(18,378)

(28,151)

Provisions for liabilities

(3,840)

-

Accruals and deferred income

 

(1,600)

(1,441)

Net assets

 

92,256

23,441

Capital and reserves

 

Called up share capital

7

153

153

Retained earnings

92,103

23,288

Shareholders' funds

 

92,256

23,441

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Commercial Refurbishment Specialists Limited

(Registration number: 11491919)
Abridged Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 8 November 2024 and signed on its behalf by:
 

.........................................
W Holten
Director

.........................................
J Jardine
Director

.........................................
I Jardine
Director

 

Commercial Refurbishment Specialists Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Ground Floor
Unit 11
Charter Point Way
Leicestershire
LE65 1NF

These financial statements were authorised for issue by the Board on 8 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

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.

 

Commercial Refurbishment Specialists Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Commercial Refurbishment Specialists Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Commercial Refurbishment Specialists Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

14,995

3,000

17,995

Additions

9,142

-

9,142

At 31 March 2024

24,137

3,000

27,137

Depreciation

At 1 April 2023

5,828

2,051

7,879

Charge for the year

3,661

237

3,898

At 31 March 2024

9,489

2,288

11,777

Carrying amount

At 31 March 2024

14,648

712

15,360

At 31 March 2023

9,167

949

10,116

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Work in progress

21,000

60,342

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

 

Commercial Refurbishment Specialists Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

2024

2023

No.

£

No.

£

Ordinary share of £1 each

150

150

150

150

Ordinary A of £1 each

1

1

1

1

Ordinary B of £1 each

1

1

1

1

Ordinary C of £1 each

1

1

1

1

153

153

153

153

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £748.60 (2023 - £651.92) per each Ordinary share

112,290

97,788

Interim dividend of £1.00 per each Ordinary A

5,833

14,133

Interim dividend of £1.00 per each Ordinary B

5,833

14,133

Interim dividend of £1.00 per each Ordinary C

5,833

14,133

129,790

140,188