CANNOCK BUILDING SERVICES LIMITED

Company Registration Number:
08019528 (England and Wales)

Unaudited statutory accounts for the year ended 30 April 2024

Period of accounts

Start date: 1 May 2023

End date: 30 April 2024

CANNOCK BUILDING SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2024

Balance sheet
Additional notes
Balance sheet notes

CANNOCK BUILDING SERVICES LIMITED

Balance sheet

As at 30 April 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 9,028 12,028
Total fixed assets: 9,028 12,028
Current assets
Stocks: 4 256,254 778,981
Debtors: 5 1,203,252 1,248,264
Cash at bank and in hand: 813,734 497,866
Total current assets: 2,273,240 2,525,111
Creditors: amounts falling due within one year: 6 ( 1,343,634 ) ( 1,850,025 )
Net current assets (liabilities): 929,606 675,086
Total assets less current liabilities: 938,634 687,114
Creditors: amounts falling due after more than one year: 7 ( 90,625 ) ( 178,125 )
Provision for liabilities: ( 2,257 )
Total net assets (liabilities): 845,752 508,989
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 845,751 508,988
Total Shareholders' funds: 845,752 508,989

The notes form part of these financial statements

CANNOCK BUILDING SERVICES LIMITED

Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 19 November 2024
and signed on behalf of the board by:

Name: GARY KENNA
Status: Director

The notes form part of these financial statements

CANNOCK BUILDING SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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.

    Tangible fixed assets depreciation policy

    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: Motor vehicles 25% per annum reducing balance method Office equipment 25% per annum reducing balance method

    Other accounting policies

    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. 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. 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. 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. Leases Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. 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. 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.

CANNOCK BUILDING SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 11 10

CANNOCK BUILDING SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 May 2023 9,043 33,284 42,327
Additions
Disposals
Revaluations
Transfers
At 30 April 2024 9,043 33,284 42,327
Depreciation
At 1 May 2023 7,839 22,460 30,299
Charge for year 300 2,700 3,000
On disposals
Other adjustments
At 30 April 2024 8,139 25,160 33,299
Net book value
At 30 April 2024 904 8,124 9,028
At 30 April 2023 1,204 10,824 12,028

CANNOCK BUILDING SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Stocks

2024 2023
£ £
Stocks 256,254 778,981
Total 256,254 778,981

CANNOCK BUILDING SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Debtors

2024 2023
£ £
Trade debtors 1,066,276 1,081,526
Other debtors 136,976 166,738
Total 1,203,252 1,248,264

CANNOCK BUILDING SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 87,500 87,500
Trade creditors 1,089,175 1,685,738
Taxation and social security 127,446 21,783
Accruals and deferred income 4,500
Other creditors 39,513 50,504
Total 1,343,634 1,850,025

CANNOCK BUILDING SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 90,625 178,125
Total 90,625 178,125