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Registered number: 07787623
CTC (Planning) Limited
Financial Statements
For The Year Ended 30 April 2024
NJR Accountancy Services Limited
14 Victoria Square
Droitwich Spa
Worcestershire
WR9 8DS
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 07787623
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,003 19,688
Investments 5 51 52
16,054 19,740
CURRENT ASSETS
Stocks 6 229,752 204,961
Debtors 7 516,764 620,382
Cash at bank and in hand 98,520 134,051
845,036 959,394
Creditors: Amounts Falling Due Within One Year 8 (30,083 ) (41,958 )
NET CURRENT ASSETS (LIABILITIES) 814,953 917,436
TOTAL ASSETS LESS CURRENT LIABILITIES 831,007 937,176
Creditors: Amounts Falling Due After More Than One Year 9 (12,387 ) (22,403 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,284 ) (453 )
NET ASSETS 816,336 914,320
CAPITAL AND RESERVES
Called up share capital 10 69 69
Income Statement 816,267 914,251
SHAREHOLDERS' FUNDS 816,336 914,320
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr T Waldron
Director
18th December 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
CTC (Planning) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07787623 . The registered office is 14 Victoria Square, Droitwich Spa, WR9 8DS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on reduncing balance
Fixtures & Fittings 25% on reduncing balance
Computer Equipment 25% on reduncing balance
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 19,708 13,500 1,665 34,873
Additions - 1,650 - 1,650
As at 30 April 2024 19,708 15,150 1,665 36,523
Depreciation
As at 1 May 2023 11,394 3,375 416 15,185
Provided during the period 2,079 2,944 312 5,335
As at 30 April 2024 13,473 6,319 728 20,520
...CONTINUED
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Net Book Value
As at 30 April 2024 6,235 8,831 937 16,003
As at 1 May 2023 8,314 10,125 1,249 19,688
5. Investments
Unlisted
£
Cost
As at 1 May 2023 52
Disposals (1 )
As at 30 April 2024 51
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 51
As at 1 May 2023 52
6. Stocks
2024 2023
£ £
Work in progress 229,752 204,961
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,500 5,250
Amounts owed by group undertakings 458,654 613,835
Other debtors 47,610 1,297
516,764 620,382
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,236 4,837
Bank loans and overdrafts 10,000 10,000
Amounts owed to group undertakings 5,443 26,091
Other creditors 700 629
Taxation and social security 6,704 401
30,083 41,958
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,387 22,403
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 69 69
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr T Waldron 164,500 53,250
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