REGISTERED NUMBER: |
Unaudited Financial Statements For The Year Ended 31 May 2024 |
for |
Castle Coachworks (Northampton) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements For The Year Ended 31 May 2024 |
for |
Castle Coachworks (Northampton) Limited |
Castle Coachworks (Northampton) Limited (Registered number: 03180974) |
Contents of the Financial Statements |
For The Year Ended 31 May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Castle Coachworks (Northampton) Limited |
Company Information |
For The Year Ended 31 May 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
7 Billing Road |
Northampton |
NORTHAMPTONSHIRE |
NN1 5AN |
Castle Coachworks (Northampton) Limited (Registered number: 03180974) |
Balance Sheet |
31 May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
Castle Coachworks (Northampton) Limited (Registered number: 03180974) |
Balance Sheet - continued |
31 May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Castle Coachworks (Northampton) Limited (Registered number: 03180974) |
Notes to the Financial Statements |
For The Year Ended 31 May 2024 |
1. | STATUTORY INFORMATION |
Castle Coachworks (Northampton) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable , excluding discounts,rebates, value added tax and other sales taxes.The following criteria must also be met before revenue is recognised. |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
- the amount of revenue can be measured reliably; |
- it is probable that the Company will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- the costs incurred and the costs to complete the contract can be measured reliably.. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses.Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives,using either a straight line or reducing balance method, as indicated above. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit and loss. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Work in progress |
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and investments. |
Castle Coachworks (Northampton) Limited (Registered number: 03180974) |
Notes to the Financial Statements - continued |
For The Year Ended 31 May 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company contributes to employees personal defined contribution plans. Contributions are recognised in profit or loss as they become payable. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Castle Coachworks (Northampton) Limited (Registered number: 03180974) |
Notes to the Financial Statements - continued |
For The Year Ended 31 May 2024 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Short | Furniture | Spray |
property | leasehold | & fixtures | booth |
£ | £ | £ | £ |
COST |
At 1 June 2023 | 1,524,074 | 288,931 | - | 99,584 |
Additions |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Plant and | Office | Motor | Computer |
machinery | equipment | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 June 2023 | 295,128 | 79,165 | 22,816 | 13,080 | 2,322,778 |
Additions |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Castle Coachworks (Northampton) Limited (Registered number: 03180974) |
Notes to the Financial Statements - continued |
For The Year Ended 31 May 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Short | Plant and | Motor |
leasehold | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 June 2023 |
Additions | 23,234 |
At 31 May 2024 | 23,234 |
DEPRECIATION |
At 1 June 2023 | - |
Charge for year | 2,323 |
At 31 May 2024 | 2,323 |
NET BOOK VALUE |
At 31 May 2024 | 20,911 |
At 31 May 2023 | - |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 June 2023 |
and 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Castle Coachworks (Northampton) Limited (Registered number: 03180974) |
Notes to the Financial Statements - continued |
For The Year Ended 31 May 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts | 58,718 | 52,486 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Castle Coachworks (Northampton) Limited (Registered number: 03180974) |
Notes to the Financial Statements - continued |
For The Year Ended 31 May 2024 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
Balance outstanding at start of year |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |