Registered number
10028603
CAG DEVELOPMENTS LTD
Filleted Accounts
29 February 2024
CAG DEVELOPMENTS LTD
Registered number: 10028603
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 233,811 183,480
Current assets
Debtors 4 139,789 167,794
Cash at bank and in hand 220,443 380,719
360,232 548,513
Creditors: amounts falling due within one year 5 (221,859) (228,297)
Net current assets 138,373 320,216
Total assets less current liabilities 372,184 503,696
Creditors: amounts falling due after more than one year 6 (22,495) (32,500)
Net assets 349,689 471,196
Capital and reserves
Called up share capital 10 10
Profit and loss account 349,679 471,186
Shareholders' funds 349,689 471,196
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C George
Director
Approved by the board on 22 November 2024
CAG DEVELOPMENTS LTD
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Motor vehicles over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 118,450 67,365 98,351 284,166
Additions - 11,935 92,232 104,167
Disposals - (704) (18,576) (19,280)
At 29 February 2024 118,450 78,596 172,007 369,053
Depreciation
At 1 March 2023 - 35,244 65,442 100,686
Charge for the year - 15,719 34,401 50,120
On disposals - (704) (14,860) (15,564)
At 29 February 2024 - 50,259 84,983 135,242
Net book value
At 29 February 2024 118,450 28,337 87,024 233,811
At 28 February 2023 118,450 32,121 32,909 183,480
4 Debtors 2024 2023
£ £
Trade debtors 120,022 155,291
Other debtors 19,767 12,503
139,789 167,794
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 113,199 175,796
Taxation and social security costs 8,813 6,711
Other creditors 99,847 45,790
221,859 228,297
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 22,495 32,500
7 Related party transactions
Directors loan account:

Amount due from (to) the related party b/fwd (£45,790)
Payments made by the Directors (£51,657)
Dividend paid (£2,500)
Payments made to the Directors £100
Amount due from (to) the related party c/fwd (£99,847)

Directors remuneration:
Salaries £218,260
Pension contributions: £42,000
8 Other information
CAG DEVELOPMENTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
8 Primrose Lane
Tetney
GRIMSBY
DN36 5PJ
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