Company Registration No. 2696217 (England and Wales)
CONCRETE RESTORATIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
CONCRETE RESTORATIONS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
CONCRETE RESTORATIONS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CONCRETE RESTORATIONS LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The following reproduces text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited financial statements set out on pages 2 to 8 have been extracted.

"In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Concrete Restorations Limited for the year ended 31 March 2024 set out on pages 3 to 10 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 https://www.accaglobal.com/gb/en/about-us/regulation/rulebook.html.

Our work has been undertaken solely to prepare for your approval the financial statements of Concrete Restorations Limited and state those matters that we have agreed to state to the Board of Directors of Concrete Restorations 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 Concrete Restorations Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Concrete Restorations 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 Concrete Restorations Limited. You consider that Concrete Restorations 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 Concrete Restorations 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.

 

 

John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
"
21 November 2024
CONCRETE RESTORATIONS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
393,161
387,175
Current assets
Stocks
29,484
41,884
Debtors
4
478,425
116,130
Cash at bank and in hand
593
69,055
508,502
227,069
Creditors: amounts falling due within one year
5
(387,286)
(159,641)
Net current assets
121,216
67,428
Total assets less current liabilities
514,377
454,603
Creditors: amounts falling due after more than one year
6
(48,596)
(61,118)
Provisions for liabilities
7
(22,354)
(22,354)
Net assets
443,427
371,131
Capital and reserves
Called up share capital
8
20,000
20,000
Revaluation reserve
9
157,646
157,646
Profit and loss reserves
10
265,781
193,485
Total equity
443,427
371,131

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

CONCRETE RESTORATIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 20 November 2024 and are signed on its behalf by:
Mr P N Griffiths
Director
Company Registration No. 2696217
CONCRETE RESTORATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Concrete Restorations Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, Kirkland House, 11-15 Peterborough Road, Harrow, Middlesex, HA1 2AX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include the revaluation of long leasehold property. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that will probably be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Long Leasehold land and buildings
0% per annum
Plant and equipment
15% per annum on reducing balance method
Motor vans
20% per annum on reducing balance method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

No depreciation is provided on long leasehold property used for the company's activities. It is the company's policy to maintain these property in a continuous state of sound repair and to extend and improve the property from time to time, and accordingly, it is considered that the anticipated useful life of the property is such that any charge for depreciation would be insignificant.

CONCRETE RESTORATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Financial instruments
Basic financial assets

Basic financial assets, which include debtors 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade creditors, and other creditors 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

CONCRETE RESTORATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
17
23
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 April 2023
310,605
247,693
558,298
Additions
-
0
21,606
21,606
At 31 March 2024
310,605
269,299
579,904
Depreciation and impairment
At 1 April 2023
-
0
171,123
171,123
Depreciation charged in the year
-
0
15,620
15,620
At 31 March 2024
-
0
186,743
186,743
Carrying amount
At 31 March 2024
310,605
82,556
393,161
At 31 March 2023
310,605
76,570
387,175

The fair value of the leasehold property has been arrived at on the basis of a valuation carried out at 31 March 2024 by the Directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Long leasehold property
2024
2023
£
£
Cost
130,605
130,605
CONCRETE RESTORATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
402,752
57,088
Corporation tax recoverable
2,928
2,928
Other debtors
69,248
44,288
474,928
104,304
Deferred tax asset
3,497
11,826
478,425
116,130
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
78,390
-
0
Trade creditors
186,215
98,560
Corporation tax
55,335
-
0
Other taxation and social security
22,725
3,583
Other creditors
44,621
57,498
387,286
159,641

The bank overdraft is secured by fixed and floating charge over leasehold property at Unit 1, Bell Industrial Estate London, W4 5HB including goodwill, book debts, building, fixtures fixed, plant and machinery.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
48,596
61,118
CONCRETE RESTORATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Balances:
£
£
£
£
Accelerated capital allowances
-
-
8,329
1,762
Tax losses
-
-
(4,832)
10,064
Revaluations
22,354
22,354
-
-
22,354
22,354
3,497
11,826
2024
Movements in the year:
£
Liability at 1 April 2023
10,528
Charge to profit or loss
8,329
Liability at 31 March 2024
18,857
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
20,000
20,000
20,000
20,000
9
Revaluation reserve
2024
2023
£
£
At the beginning and end of the year
157,646
157,646
10
Profit and loss reserves

The movements in the reserves for the year ended 31 March 2024 and 31 March 2023 are dividend paid and profit for the year.

11
Directors' transactions

Dividends totalling £145,000 (2023 - £75,000) were paid in the year in respect of shares held by the company's directors.

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