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COMPANY REGISTRATION NUMBER: 07052070
Cheshire Waterproofing Limited
Filleted Unaudited Financial Statements
31 May 2024
Cheshire Waterproofing Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
24,052
13,098
Current assets
Debtors
6
54,344
228,923
Cash at bank and in hand
629,398
309,688
---------
---------
683,742
538,611
Creditors: amounts falling due within one year
7
116,997
74,534
---------
---------
Net current assets
566,745
464,077
---------
---------
Total assets less current liabilities
590,797
477,175
Provisions
Taxation including deferred tax
2,488
2,488
---------
---------
Net assets
588,309
474,687
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
588,308
474,686
---------
---------
Shareholders funds
588,309
474,687
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Cheshire Waterproofing Limited
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 24 January 2025 , and are signed on behalf of the board by:
Mr P Dahl
Director
Company registration number: 07052070
Cheshire Waterproofing Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 19 Forest Drive, Broughton, Chester, CH4 0QT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings. Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2023
4,970
2,653
48,411
56,034
Additions
19,000
19,000
Disposals
( 700)
( 700)
-------
-------
--------
--------
At 31 May 2024
4,970
1,953
67,411
74,334
-------
-------
--------
--------
Depreciation
At 1 June 2023
4,483
2,244
36,209
42,936
Charge for the year
122
95
7,800
8,017
Disposals
( 671)
( 671)
-------
-------
--------
--------
At 31 May 2024
4,605
1,668
44,009
50,282
-------
-------
--------
--------
Carrying amount
At 31 May 2024
365
285
23,402
24,052
-------
-------
--------
--------
At 31 May 2023
487
409
12,202
13,098
-------
-------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
22,202
199,789
Other debtors
32,142
29,134
--------
---------
54,344
228,923
--------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
11,779
6,894
Social security and other taxes
101,798
62,454
Other creditors
3,420
5,186
---------
--------
116,997
74,534
---------
--------
8. Director's advances, credits and guarantees
The director operated a current account with the company, the opening balance of which was £26,482 (2023 £26,144) in debit and the closing balance was £28,375 (2023 £26,482) in debit. Interest is charged on the loan at the prescribed rate of 2.25% in the year and the loan is repayable upon demand.