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Registration number: 09544159

CW Build Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

CW Build Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

CW Build Limited

(Registration number: 09544159)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

45,860

47,862

Current assets

 

Debtors

5

53,479

50,452

Cash at bank and in hand

 

318,834

282,007

 

372,313

332,459

Creditors: Amounts falling due within one year

6

(206,412)

(159,898)

Net current assets

 

165,901

172,561

Total assets less current liabilities

 

211,761

220,423

Creditors: Amounts falling due after more than one year

6

(9,167)

(19,167)

Provisions for liabilities

(11,465)

(11,966)

Net assets

 

191,129

189,290

Capital and reserves

 

Called up share capital

100

100

Retained earnings

191,029

189,190

Shareholders' funds

 

191,129

189,290

 

CW Build Limited

(Registration number: 09544159)
Balance Sheet as at 30 June 2024

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:

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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 February 2025
 

Mr G Walker
Director

   
     
 

CW Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
Unit E1
Reme Drive
Heathpark Industrial Estate
Honiton
Devon
EX14 1SE

The principal place of business is:
Unit A
Country House Estate
Whimple
Exeter
Devon
EX5 2NL

These financial statements were authorised for issue by the director on 10 February 2025.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The accounts have been prepared on the going concern basis.

 

CW Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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 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.

Tax

The tax expense for the period comprises current and deferred 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:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Furniture, fittings and equipment

25% straight line

Plant and equipment

25% straight line

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.

 

CW Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

CW Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 2 (2023 - 2).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

15,545

2,571

80,444

98,560

Additions

7,925

-

12,000

19,925

Disposals

(10,340)

-

-

(10,340)

At 30 June 2024

13,130

2,571

92,444

108,145

Depreciation

At 1 July 2023

9,052

2,078

39,568

50,698

Charge for the year

2,502

390

13,219

16,111

Eliminated on disposal

(4,524)

-

-

(4,524)

At 30 June 2024

7,030

2,468

52,787

62,285

Carrying amount

At 30 June 2024

6,100

103

39,657

45,860

At 30 June 2023

6,493

493

40,876

47,862

5

Debtors

2024
£

2023
£

Trade debtors

27,254

-

Prepayments

5,225

6,010

Other debtors

21,000

44,442

53,479

50,452

 

CW Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Due within one year

Note

2024
£

2023
£

 

Loans and borrowings

7

10,000

10,000

Trade creditors

 

44,818

62,282

Amounts due to related parties

42,400

67,400

Social security and other taxes

 

48,945

5,918

Accruals

 

3,150

3,169

Corporation tax liability

57,099

11,129

 

206,412

159,898

Due after one year

 

Loans and borrowings

7

9,167

19,167

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

9,167

19,167

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000