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Company No: 09100774 (England and Wales)

CP GROUNDWORKS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

CP GROUNDWORKS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

CP GROUNDWORKS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
CP GROUNDWORKS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 102,107 188,181
102,107 188,181
Current assets
Debtors 4 1,095,780 1,252,472
Cash at bank and in hand 220,935 183,995
1,316,715 1,436,467
Creditors: amounts falling due within one year 5 ( 393,576) ( 605,434)
Net current assets 923,139 831,033
Total assets less current liabilities 1,025,246 1,019,214
Creditors: amounts falling due after more than one year 6 ( 21,490) ( 65,009)
Provision for liabilities 7 ( 25,526) ( 47,045)
Net assets 978,230 907,160
Capital and reserves
Called-up share capital 3 3
Profit and loss account 978,227 907,157
Total shareholder's funds 978,230 907,160

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of CP Groundworks Limited (registered number: 09100774) were approved and authorised for issue by the Director. They were signed on its behalf by:

Christian Edward Larter
Director

01 February 2025

CP GROUNDWORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
CP GROUNDWORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

CP Groundworks Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Larking Gowen 1st Floor Prospect House, Rouen Road, Norwich, NR1 1RE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Income Statement over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 5

3. Tangible assets

Vehicles Total
£ £
Cost
At 01 July 2023 370,348 370,348
Additions 7,165 7,165
Disposals ( 118,405) ( 118,405)
At 30 June 2024 259,108 259,108
Accumulated depreciation
At 01 July 2023 182,167 182,167
Charge for the financial year 64,399 64,399
Disposals ( 89,565) ( 89,565)
At 30 June 2024 157,001 157,001
Net book value
At 30 June 2024 102,107 102,107
At 30 June 2023 188,181 188,181
Leased assets included above:
Net book value
At 30 June 2024 94,232 94,232
At 30 June 2023 183,586 183,586

4. Debtors

2024 2023
£ £
Trade debtors 364,699 441,911
Other debtors 731,081 810,561
1,095,780 1,252,472

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,001 10,000
Trade creditors 178,165 119,559
Corporation tax 53,661 77,333
CIS withheld 32,620 0
Other taxation and social security 4,983 9,372
Obligations under finance leases and hire purchase contracts (secured) 33,519 61,798
Other creditors 80,627 327,372
393,576 605,434

Included in other creditors are secured creditors of £80,131 (2023: £272,131)
Included in obligations under finance leases and hire purchase contracts are secured creditors of £33,519 (2023: £61,798)

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 14,166 24,167
Obligations under finance leases and hire purchase contracts (secured) 7,324 40,842
21,490 65,009

Included in obligations under finances leases and hire purchase contracts are secured creditors of £7,324 (2023: £40,842)

7. Provision for liabilities

2024 2023
£ £
Deferred tax 25,526 47,045
Deferred taxation Total
£ £
At 01 July 2023 47,045 47,045
Credited to the Income Statement ( 21,519) ( 21,519)
At 30 June 2024 25,526 25,526

Deferred tax

2024 2023
£ £
Accelerated capital allowances 25,526 47,045
Provision for deferred tax 25,526 47,045

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Director's loan account 6,844 462

The loan has been settled post year end resulting in no section 455 tax being due on the above balance.