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REGISTERED NUMBER: 04509778 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 AUGUST 2024

FOR

CORYTON COMMERCIALS LIMITED

CORYTON COMMERCIALS LIMITED (REGISTERED NUMBER: 04509778)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CORYTON COMMERCIALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 AUGUST 2024







DIRECTORS: E C Green
R T Green





SECRETARY: R T Green





REGISTERED OFFICE: Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA





REGISTERED NUMBER: 04509778 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

CORYTON COMMERCIALS LIMITED (REGISTERED NUMBER: 04509778)

BALANCE SHEET
30 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 161,801 128,090

CURRENT ASSETS
Stocks 285,689 248,897
Debtors 5 681,966 613,061
Cash at bank 53,031 91,207
1,020,686 953,165
CREDITORS
Amounts falling due within one year 6 752,639 659,518
NET CURRENT ASSETS 268,047 293,647
TOTAL ASSETS LESS CURRENT
LIABILITIES

429,848

421,737

CREDITORS
Amounts falling due after more than one
year

7

8,717

59,428
NET ASSETS 421,131 362,309

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 421,129 362,307
SHAREHOLDERS' FUNDS 421,131 362,309

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 August 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.

CORYTON COMMERCIALS LIMITED (REGISTERED NUMBER: 04509778)

BALANCE SHEET - continued
30 AUGUST 2024


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.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





R T Green - Director


CORYTON COMMERCIALS LIMITED (REGISTERED NUMBER: 04509778)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 AUGUST 2024

1. STATUTORY INFORMATION

Coryton Commercials Limited 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.

Turnover
Turnover represents net 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - over the period of the lease
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

CORYTON COMMERCIALS LIMITED (REGISTERED NUMBER: 04509778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtor factoring
The factored debts are recourse and therefore a separate presentation has been adopted.
Trade debtors are shown gross and proceeds from the factoring company have been included in creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 26 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 31 August 2023 64,229 311,257 190,135 11,823 577,444
Additions - 89,863 5,000 - 94,863
At 30 August 2024 64,229 401,120 195,135 11,823 672,307
DEPRECIATION
At 31 August 2023 43,568 283,241 119,589 2,956 449,354
Charge for year 10,578 29,470 18,887 2,217 61,152
At 30 August 2024 54,146 312,711 138,476 5,173 510,506
NET BOOK VALUE
At 30 August 2024 10,083 88,409 56,659 6,650 161,801
At 30 August 2023 20,661 28,016 70,546 8,867 128,090

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 31 August 2023
and 30 August 2024 114,636
DEPRECIATION
At 31 August 2023 55,461
Charge for year 14,794
At 30 August 2024 70,255
NET BOOK VALUE
At 30 August 2024 44,381
At 30 August 2023 59,175

CORYTON COMMERCIALS LIMITED (REGISTERED NUMBER: 04509778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 AUGUST 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 677,744 611,849
Other debtors 3,000 -
Prepayments 1,222 1,212
681,966 613,061

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,301 10,055
RBS invoice factoring 115,725 104,877
Hire purchase contracts (see note 8) 40,410 16,598
Trade creditors 281,310 156,580
Tax 27,387 22,069
Social security and other taxes 36,014 40,469
VAT 121,241 129,711
Other creditors 8,914 26,413
Directors' loan accounts 1,809 769
Accrued expenses 109,528 151,977
752,639 659,518

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 8,717 19,018
Hire purchase contracts (see note 8) - 40,410
8,717 59,428

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 40,410 16,598
Between one and five years - 40,410
40,410 57,008

CORYTON COMMERCIALS LIMITED (REGISTERED NUMBER: 04509778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 AUGUST 2024

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 456,410 419,148
Between one and five years 554,667 974,864
1,011,077 1,394,012

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
RBS invoice factoring 115,725 104,877
Hire purchase contracts 40,410 57,008
156,135 161,885

The RBS factoring creditor is secured by a debenture over all of the company's assets.
A personal guarantee limited to £30,000 has also been given by the directors.

The hire purchase is secured against the company vehicles to which it relates.