C. Caswell Engineering Services Limited 1181487 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is the fabrication and installation of heating and ventilating equipment. Digita Accounts Production Advanced 6.30.9574.0 true true false 1181487 2023-05-01 2024-04-30 1181487 2024-04-30 1181487 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-04-30 1181487 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-04-30 1181487 core:CurrentFinancialInstruments 2024-04-30 1181487 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 1181487 core:Non-currentFinancialInstruments 2024-04-30 1181487 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 1181487 core:FurnitureFittings 2024-04-30 1181487 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 1181487 core:MotorVehicles 2024-04-30 1181487 core:OfficeEquipment 2024-04-30 1181487 core:OtherRelatedParties 2024-04-30 1181487 core:ParentEntities 2024-04-30 1181487 bus:SmallEntities 2023-05-01 2024-04-30 1181487 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 1181487 bus:FilletedAccounts 2023-05-01 2024-04-30 1181487 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 1181487 bus:RegisteredOffice 2023-05-01 2024-04-30 1181487 bus:Director2 2023-05-01 2024-04-30 1181487 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 1181487 core:FurnitureFittings 2023-05-01 2024-04-30 1181487 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 1181487 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 1181487 core:LeaseholdImprovements 2023-05-01 2024-04-30 1181487 core:MotorVehicles 2023-05-01 2024-04-30 1181487 core:OfficeEquipment 2023-05-01 2024-04-30 1181487 core:OtherRelatedParties 2023-05-01 2024-04-30 1181487 core:OtherRelatedParties core:RenderingOrReceivingServices 2023-05-01 2024-04-30 1181487 core:OtherRelatedParties core:SaleOrPurchaseGoods 2023-05-01 2024-04-30 1181487 core:ParentEntities 2023-05-01 2024-04-30 1181487 1 2023-05-01 2024-04-30 1181487 countries:EnglandWales 2023-05-01 2024-04-30 1181487 2023-04-30 1181487 core:FurnitureFittings 2023-04-30 1181487 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 1181487 core:MotorVehicles 2023-04-30 1181487 core:OfficeEquipment 2023-04-30 1181487 core:ParentEntities 2023-04-30 1181487 2022-05-01 2023-04-30 1181487 2023-04-30 1181487 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-04-30 1181487 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-04-30 1181487 core:CurrentFinancialInstruments 2023-04-30 1181487 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 1181487 core:Non-currentFinancialInstruments 2023-04-30 1181487 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 1181487 core:FurnitureFittings 2023-04-30 1181487 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 1181487 core:MotorVehicles 2023-04-30 1181487 core:OfficeEquipment 2023-04-30 1181487 core:OtherRelatedParties 2023-04-30 1181487 core:ParentEntities 2023-04-30 1181487 core:OtherRelatedParties 2022-05-01 2023-04-30 1181487 core:OtherRelatedParties core:RenderingOrReceivingServices 2022-05-01 2023-04-30 1181487 core:OtherRelatedParties core:SaleOrPurchaseGoods 2022-05-01 2023-04-30 1181487 core:ParentEntities 2022-05-01 2023-04-30 1181487 2022-04-30 1181487 core:ParentEntities 2022-04-30 iso4217:GBP xbrli:pure

Registration number: 1181487

C. Caswell Engineering Services Limited
Annual Report and
Unaudited Financial Statements

30 April 2024

 

C. Caswell Engineering Services Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 13

 

C. Caswell Engineering Services Limited

Balance Sheet
30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

325,871

198,065

Current assets

 

Stocks

5

338,541

430,613

Debtors

6

1,522,124

1,124,087

Cash at bank and in hand

 

146,383

171,872

 

2,007,048

1,726,572

Creditors: Amounts falling due within one year

7

(1,611,931)

(1,364,619)

Net current assets

 

395,117

361,953

Total assets less current liabilities

 

720,988

560,018

Creditors: Amounts falling due after more than one year

7

(75,024)

(50,773)

Provisions for liabilities

(26,247)

(26,247)

Net assets

 

619,717

482,998

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

618,717

481,998

Shareholders' funds

 

619,717

482,998

 

C. Caswell Engineering Services Limited

Balance Sheet
30 April 2024

For the financial 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.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 January 2025 and signed on its behalf by:
 

.........................................
Mrs C Branagan
Director

Company Registration Number: 1181487

 

C. Caswell Engineering Services Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Knowsley Road Industrial Estate
Knowsley Road
Haslingden
Rossendale
BB4 4RR

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

C. Caswell Engineering Services Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

C. Caswell Engineering Services Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Asset class

Depreciation method and rate

Improvements to landlord property

10 years

Fixutres and fittings

3 - 10 years

Motor vehicles

5 years

Office equipment

3 - 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

C. Caswell Engineering Services Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

C. Caswell Engineering Services Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 60 (2023 - 63).

 

C. Caswell Engineering Services Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

4

Tangible assets

Improvements to landlord property
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

23,126

677,004

36,099

239,416

975,645

Additions

-

152,672

2,152

52,980

207,804

Disposals

-

-

-

(58,700)

(58,700)

At 30 April 2024

23,126

829,676

38,251

233,696

1,124,749

Depreciation

At 1 May 2023

6,939

545,108

30,774

194,759

777,580

Charge for the year

2,313

56,465

1,036

20,184

79,998

Eliminated on disposal

-

-

-

(58,700)

(58,700)

At 30 April 2024

9,252

601,573

31,810

156,243

798,878

Carrying amount

At 30 April 2024

13,874

228,103

6,441

77,453

325,871

 

C. Caswell Engineering Services Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Improvements to landlord property
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

At 30 April 2023

16,187

131,896

5,325

44,657

198,065

 

C. Caswell Engineering Services Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

5

Stocks

2024
£

2023
£

Raw materials and consumables

328,466

297,546

Work in progress

10,075

133,067

338,541

430,613

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,433,645

1,043,381

Prepayments

88,479

80,656

Other debtors

-

50

 

1,522,124

1,124,087

 

C. Caswell Engineering Services Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

36,960

24,028

Trade creditors

 

645,546

616,495

Amounts owed to Group undertakings and undertakings in which the Company has a participating interest

9

546,748

430,545

Taxation and social security

 

230,071

77,834

Accruals and deferred income

 

6,574

74,997

Other creditors

 

146,032

140,720

 

1,611,931

1,364,619

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

75,024

50,773

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

14,806

25,780

Hire purchase contracts

60,218

24,993

75,024

50,773

Current loans and borrowings

 

C. Caswell Engineering Services Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

2024
£

2023
£

Bank borrowings

10,031

9,801

Hire purchase contracts

26,929

14,227

36,960

24,028

9

Related party transactions

Directors' remuneration

The directors are remunerated by the company. The directors consider that their remuneration meets the criteria of being under normal market conditions.

Summary of transactions with parent

C Caswell Holdings Limited
 The company paid rent of £145,000 (2023 : £107,000) to the parent company in the year.
 The company has an outstanding loan with the parent company. Interest at 7% is applied to the outstanding balance.
 

Loans from related parties

2024

Parent
£

Total
£

At start of period

430,545

430,545

Advanced

116,203

116,203

At end of period

546,748

546,748

2023

Parent
£

Total
£

At start of period

483,562

483,562

Repaid

(53,017)

(53,017)

At end of period

430,545

430,545

 

C. Caswell Engineering Services Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Summary of transactions with other related parties

Konvekta Limited and Firesafe Fire Rated Ductwork Limited
(Other group companies)

 The company sold good and services to other group companies at normal market rates and terms.
 

Income and receivables from related parties

2024

Other related parties
£

Sale of goods

463,047

Receipt of services

303,709

766,756

Amounts receivable from related party

83,093

2023

Other related parties
£

Sale of goods

486,362

Receipt of services

338,863

825,225

Amounts receivable from related party

86,645

10

Parent and ultimate parent undertaking

The ultimate controlling party is C Caswell Holdings Ltd.