Company Registration No. 10410547 (England and Wales)
CS Grab Hire And Groundworks Ltd
Unaudited accounts
for the year ended 31 October 2024
CS Grab Hire And Groundworks Ltd
Unaudited accounts
Contents
CS Grab Hire And Groundworks Ltd
Company Information
for the year ended 31 October 2024
Company Number
10410547 (England and Wales)
Registered Office
25 Derwen Way
Abergavenny
NP7 6DL
Accountants
Next Level Accountants Limited
35 Goddard Way
Tuffley
Gloucester
Gloucestershire
GL4 0YA
CS Grab Hire And Groundworks Ltd
Statement of financial position
as at 31 October 2024
Tangible assets
76,245
110,761
Cash at bank and in hand
2,692
23,754
Creditors: amounts falling due within one year
(30,691)
(62,857)
Net current liabilities
(21,999)
(35,797)
Total assets less current liabilities
54,246
74,964
Creditors: amounts falling due after more than one year
(29,826)
(42,667)
Provisions for liabilities
Deferred tax
(14,487)
(21,045)
Called up share capital
2
2
Profit and loss account
9,931
11,250
Shareholders' funds
9,933
11,252
For the year ending 31 October 2024 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 November 2024 and were signed on its behalf by
Craig Smith
Director
Company Registration No. 10410547
CS Grab Hire And Groundworks Ltd
Notes to the Accounts
for the year ended 31 October 2024
CS Grab Hire And Groundworks Ltd is a private company, limited by shares, registered in England and Wales, registration number 10410547. The registered office is 25 Derwen Way, Abergavenny, NP7 6DL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Reducing Balance
Plant & machinery
20% Reducing Balance
Motor vehicles
20% Reducing Balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
CS Grab Hire And Groundworks Ltd
Notes to the Accounts
for the year ended 31 October 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2023
25,530
168,798
41,136
235,464
Disposals
-
(41,570)
(6,031)
(47,601)
At 31 October 2024
25,530
127,228
35,105
187,863
At 1 November 2023
7,038
91,804
25,861
124,703
Charge for the year
1,849
17,710
9,675
29,234
On disposals
-
(36,288)
(6,031)
(42,319)
At 31 October 2024
8,887
73,226
29,505
111,618
At 31 October 2024
16,643
54,002
5,600
76,245
At 31 October 2023
18,492
76,994
15,275
110,761
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,018
6,018
Obligations under finance leases and hire purchase contracts
7,688
11,636
Amounts owed to group undertakings and other participating interests
3,000
-
Taxes and social security
1,662
-
Loans from directors
8,121
31,807
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
4,697
12,385
CS Grab Hire And Groundworks Ltd
Notes to the Accounts
for the year ended 31 October 2024
The company shall be liable for significant decommissioning costs should the company cease to trade. The director discloses that there are large amounts of waste product that are stored at the company premises that will require professional disposal to the cost of at least £50,000.
Whilst the company continues to trade as a going concern, it is only appropriate to disclose this contingent liability as a footnote to the accounts.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).