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REGISTERED NUMBER: 02620410 (England and Wales)















Castle & Pryor Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024






Castle & Pryor Limited (Registered number: 02620410)

Contents of the Financial Statements
for the year ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Castle & Pryor Limited

Company Information
for the year ended 30 June 2024







Directors: M R Castle
W C Richardson





Registered office: Elles House
4B Invincible Road Industrial Estate
Farnborough
Hampshire
GU14 7QU





Registered number: 02620410 (England and Wales)





Accountants: Cooper Parry Advisory Limited
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP

Castle & Pryor Limited (Registered number: 02620410)

Balance Sheet
30 June 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 655,966 438,153

Current assets
Stocks 64,591 79,851
Debtors 5 369,286 473,837
Cash at bank and in hand 293,684 141,860
727,561 695,548
Creditors
Amounts falling due within one year 6 400,003 328,598
Net current assets 327,558 366,950
Total assets less current liabilities 983,524 805,103

Creditors
Amounts falling due after more than one
year

7

(252,184

)

(163,537

)

Provisions for liabilities (146,759 ) (96,525 )
Net assets 584,581 545,041

Capital and reserves
Called up share capital 8 27,500 27,500
Capital redemption reserve 27,500 27,500
Retained earnings 529,581 490,041
Shareholders' funds 584,581 545,041

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 January 2025 and were signed on its behalf by:



M R Castle - Director


Castle & Pryor Limited (Registered number: 02620410)

Notes to the Financial Statements
for the year ended 30 June 2024


1. Statutory information

Castle & Pryor Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Accounting convention
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 pound.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts, it also includes income received from the rental of part of the leasehold building. Income received from tenants is included in the accounts on an accruals basis.

Turnover relating to long term contracts is recorded at anticipated net sales value of work done less any provisions for unrecoverable amounts. Profit is recognised on long term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses.

Included within other operating income is amounts received under the coronavirus job retention scheme. This is recognised when received.

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:

Land and buildings leasehold1% -10% straight line
Plant and machinery15% - 25% reducing balance
Motor vehicles25% reducing balance

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 charged in the year of disposal.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts.

Castle & Pryor Limited (Registered number: 02620410)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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 is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

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.

Retirement benefits
The company operates a defined contribution scheme for the benefit of its employees and directors. Contributions payable are charged to the profit and loss account in the year they are payable.

Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Castle & Pryor Limited (Registered number: 02620410)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


2. Accounting policies - continued

Government grants
Government grants have been disclosed within other operating income and relates to grants received in respect of the job retention grant scheme in relation to COVID-19 support. The income received in respect of the grant have been recognised on a receivable basis.

Dividends
Dividends are recognised only when paid as a movement in the reserves within the accounts.

Going concern
At 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. Hence the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. Employees and directors

The average number of employees during the year was 19 (2023 - 19 ) .

4. Tangible fixed assets
Plant and Motor
machinery vehicles Totals
£ £ £
Cost
At 1 July 2023 427,052 289,708 716,760
Additions 201,350 179,690 381,040
Disposals (32,533 ) (113,090 ) (145,623 )
At 30 June 2024 595,869 356,308 952,177
Depreciation
At 1 July 2023 166,010 112,597 278,607
Charge for year 60,759 67,053 127,812
Eliminated on disposal (29,952 ) (80,256 ) (110,208 )
At 30 June 2024 196,817 99,394 296,211
Net book value
At 30 June 2024 399,052 256,914 655,966
At 30 June 2023 261,042 177,111 438,153

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 253,229 288,973
Amounts recoverable on contract 7,452 6,901
Other debtors 108,605 177,963
369,286 473,837

Included within other debtors at the year end is £NIL (2023 : £42,651) due from a connected company.

Castle & Pryor Limited (Registered number: 02620410)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


6. Creditors: amounts falling due within one year
2024 2023
£ £
Hire purchase contracts 152,113 67,884
Trade creditors 114,627 162,673
Taxation and social security 22,357 26,733
Other creditors 110,906 71,308
400,003 328,598

The aggregate amount of creditors due within one year for which security has been given amounts to £152,113 (2023 : £67,884).

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Hire purchase contracts 252,184 163,537

The aggregate amount of creditors falling due after more than one year for which security has been given amounts to £252,184 (2023 : £163,537).

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

8. Called up share capital

Number: Class: Nominal Value: 2024 2023

25,000 A1 Ordinary £1 25,000 25,000

2,500 B1 Ordinary £1 2,500 2,500
27,500 27,500