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REGISTERED NUMBER: 09462836 (England and Wales)










CASWELL BAY CONSTRUCTION LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






CASWELL BAY CONSTRUCTION LTD (REGISTERED NUMBER: 09462836)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

CASWELL BAY CONSTRUCTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: K Banfield
Mrs S Banfield





SECRETARY: Mrs S Banfield





REGISTERED OFFICE: C/O Bevan Buckland LLP
Ground Floor
Cardigan House
Swansea
SA7 9LA





REGISTERED NUMBER: 09462836 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

CASWELL BAY CONSTRUCTION LTD (REGISTERED NUMBER: 09462836)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,917 18,223
Investment property 5 1,601,553 1,545,382
1,611,470 1,563,605

CURRENT ASSETS
Stocks 407,610 397,865
Debtors 6 6,118 1,539
Cash at bank 60,186 44,218
473,914 443,622
CREDITORS
Amounts falling due within one year 7 580,976 568,620
NET CURRENT LIABILITIES (107,062 ) (124,998 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,504,408

1,438,607

CREDITORS
Amounts falling due after more than one year 8 (938,168 ) (845,828 )

PROVISIONS FOR LIABILITIES (133,228 ) (134,692 )
NET ASSETS 433,012 458,087

CAPITAL AND RESERVES
Called up share capital 10 10
Fair value reserve 10 419,283 419,283
Retained earnings 13,719 38,794
SHAREHOLDERS' FUNDS 433,012 458,087

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

CASWELL BAY CONSTRUCTION LTD (REGISTERED NUMBER: 09462836)

BALANCE SHEET - continued
29 FEBRUARY 2024



The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:





K Banfield - Director


CASWELL BAY CONSTRUCTION LTD (REGISTERED NUMBER: 09462836)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Caswell Bay Construction Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents sales of purchased properties on completion and invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated on the purchase of properties, including all expenses incurred on the redevelopment of the property before sale.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

CASWELL BAY CONSTRUCTION LTD (REGISTERED NUMBER: 09462836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Cash at bank and cash in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Functional and presentation currency
The company's functional and presentation currency is pounds sterling.

Going Concern
The company continues to adopt the going concern basis in preparing its financial statements.

Basic financial assets
Basic financial assets, which include trade and other receivables 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.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, 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 receipts discounted at a market rate of interest.

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

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

CASWELL BAY CONSTRUCTION LTD (REGISTERED NUMBER: 09462836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property Machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2023
and 29 February 2024 1,960 13,827 4,739 26,488 47,014
DEPRECIATION
At 1 March 2023 - 13,478 2,069 13,244 28,791
Charge for year - 349 1,335 6,622 8,306
At 29 February 2024 - 13,827 3,404 19,866 37,097
NET BOOK VALUE
At 29 February 2024 1,960 - 1,335 6,622 9,917
At 28 February 2023 1,960 349 2,670 13,244 18,223

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 1,545,382
Additions 56,171
At 29 February 2024 1,601,553
NET BOOK VALUE
At 29 February 2024 1,601,553
At 28 February 2023 1,545,382

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2021 247,582
Valuation in 2022 275,413
Valuation in 2023 43,541
Cost 1,035,017
1,601,553

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 937,018 880,847

Investment property was valued on an open market basis on 28 March 2023 by the directors .

CASWELL BAY CONSTRUCTION LTD (REGISTERED NUMBER: 09462836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,220 -
Prepayments 1,898 1,539
6,118 1,539

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 311,222 311,033
Trade creditors 1,000 1,000
Tax 4,449 4,822
Other creditors 9,313 6,962
Directors' current accounts 253,307 242,559
Accrued expenses 1,685 2,244
580,976 568,620

Included in other creditors are loans of £5,000 from family members of the directors. These loans are interest free and repayable on demand.

At the year end there is an amount of £253,307.34 owed to the director, this is provided on terms that are interest-free and repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 20,536 39,361
Bank loans - 2-5 years 21,545 30,292
Bank loans more 5 yr by instal 896,087 776,175
938,168 845,828

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 896,087 776,175

CASWELL BAY CONSTRUCTION LTD (REGISTERED NUMBER: 09462836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. SECURED DEBTS

Lendinvest Btl LTD
2 london House, Beach Road, Penclawdd, Swansea, SA4 3YP.
Contains fixed charge.
Contains negative pledge.

Lendinvest Btl Limited
1 London House, Beach Road, Penclawdd, Swansea, SA4 3YP - freehold - CYM783207.
Contains negative pledge.

Lendinvest Btl Limited
171 frampton road, gorseinon, swansea SA4 4YG registered at hm land registry with title number WA340158.
Contains fixed charge.
Contains negative pledge.

Lendinvest Btl Limited
25 dale close fforestfach swansea SA5 4NX.
Contains fixed charge.
Contains negative pledge.

Lendinvest Btl Limited
90 samlet road, swansea enterprise park, swansea, SA7 9AF.
Contains fixed charge.
Contains negative pledge.

Lendinvest Btl Limited
98 manor road, manselton, swansea, SA5 9PN.
Contains fixed charge.
Contains negative pledge.

Joanna Bunkham
The land and buildings known as 36 hendre-foilan road swansea registered under title number WA186633.

Lendinvest Btl Limited
29 gethin close, gendros, swansea, SA5 8DX.
Contains fixed charge.
Contains negative pledge.

Colcap Financial UK Ltd
101 Lime Street, Gorseinon, Swansea, SA4 4EF
Contains negative pledge.

10. RESERVES
Fair
value
reserve
£   
At 1 March 2023
and 29 February 2024 419,283

Included in reserves is investment fair value reserve of £419,283 which is non-distributable to the shareholders.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CASWELL BAY CONSTRUCTION LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Caswell Bay Construction Ltd for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Caswell Bay Construction Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Caswell Bay Construction Ltd and state those matters that we have agreed to state to the Board of Directors of Caswell Bay Construction Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Caswell Bay Construction Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Caswell Bay Construction Ltd 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 Caswell Bay Construction Ltd. You consider that Caswell Bay Construction Ltd 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 Caswell Bay Construction Ltd. 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.






Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


19 November 2024