Registered number: 11355823 | ||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||
Prepared By: | ||||||||
JAN G GROMADZKI | ||||||||
CHARTERED ACCOUNTANT | ||||||||
13 WOLVERHAMPTON ROAD | ||||||||
CODSALL | ||||||||
WOLVERHAMPTON | ||||||||
WEST MIDLANDS | ||||||||
WV8 1PT |
CASTCO LTD | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
WEST MIDLANDS | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 11355823 | ||||||||
ACCOUNTANTS | ||||||||
JAN G GROMADZKI | ||||||||
CHARTERED ACCOUNTANT | ||||||||
13 WOLVERHAMPTON ROAD | ||||||||
CODSALL | ||||||||
WOLVERHAMPTON | ||||||||
WEST MIDLANDS | ||||||||
WV8 1PT |
CASTCO LTD | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/03/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
CASTCO LTD | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
18,204 | 16,161 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT (LIABILITIES) / ASSETS | ( | 1,906 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 7 | 24,695 | 30,142 | |||||||
NET LIABILITIES | ( | ( | ||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 8 | |||||||||
Profit and loss account | (8,595) | (9,552) | ||||||||
SHAREHOLDERS' FUNDS | ( | ( | ||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
CASTCO LTD | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Going Concern | ||||||||
The company is in a net liability position of £ 8,495 as at 31 March 2024. However the directors have given assurances to the company that they will not draw on at least £ 9,000 of the directors' loan accounts and will make further funds available if required . On this basis the company is considered a going concern and the directors are of the opinion that the company will be able to pay it's debts as they fall due for at least twelve months from the date that the balance sheet was signed. |
1c. Depreciation | ||||||||
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is an indication that any items have suffered impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. | ||||||||
Commercial Vehicles | straight line10% | |||||||
Equipment | straight line10% |
1d. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1e. Turnover | ||||||||
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts, derived from ordinary activities. |
CASTCO LTD | ||||||||
1f. Basis Of Accounting FRS 1021 a | ||||||||
The accounts have been prepared under the historical cost convention and are stated in United Kingdom Pounds Sterling. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
2. EMPLOYEES | ||||||||
2024 | 2023 | |||||||
No. | No. | |||||||
Average number of employees | 2 | |||||||
Key management personnel is restricted to that of the two directors. | ||||||||
3. TANGIBLE FIXED ASSETS | ||||||
Commercial | ||||||
Vehicles | Equipment | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 01/04/2023 | 15,000 | 8,761 | 23,761 | |||
Additions | - | 763 | 763 | |||
Disposals | - | (400) | (400) | |||
At 31/03/2024 | 15,000 | 9,124 | 24,124 | |||
Depreciation | ||||||
At 01/04/2023 | 2,500 | 2,477 | 4,977 | |||
Disposals | - | (400) | (400) | |||
For the year | 1,500 | 900 | 2,400 | |||
At 31/03/2024 | 4,000 | 2,977 | 6,977 | |||
Net Book Amounts | ||||||
At 31/03/2024 | 17,147 | |||||
At 31/03/2023 | 18,784 | |||||
4. STOCK | 2024 | 2023 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
CASTCO LTD | ||||||||
5. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 3,917 | 3,168 | ||||||
Prepayments | 1,443 | 1,587 | ||||||
5,360 | 4,755 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | 4 | 2 | ||||||
VAT | 4,054 | - | ||||||
PAYE control | 698 | 698 | ||||||
Directors current account | 10,470 | 10,470 | ||||||
Accruals | 3,925 | 3,085 | ||||||
19,151 | 14,255 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Barclays Bank UK plc - bounce back loan >1yr | 24,695 | 30,142 | ||||||
24,695 | 30,142 | |||||||
8. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||
CASTCO LTD | ||||||||
9. OTHER FINANCIAL COMMITMENTS | ||||||||
At 31/03/2024 the company was committed to making the following payments under non-cancellable operating leases: | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Operating Leases which expire: | ||||||||
Within one year | 2,275 | 2,100 | ||||||
10. CONTROLLING PARTY | ||||||||
The company is jointly owned in equal proportion by the two directors Mr R Carroll and Mr C J Round. | ||||||||
11. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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12. NATURE OF OPERATIONS AND PRINCIPAL ACTIVITY | ||||||||
The company manufactures and sells ornaments and concrete casts. All of it's activities are carried out within the United Kingdom. | ||||||||
13. GENERAL INFORMATION | ||||||||
Castco Ltd is a private company limited by shares and incorporated in England. Its registered office is 13 Wolverhampton Road, Codsall, Wolverhampton, West Midlands, WV8 1PT. | ||||||||
The financial statements are presented in United Kingdom Pounds Sterling, which is the functional currency of the company. | ||||||||