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REGISTERED NUMBER: 13326850 (England and Wales)








REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

CORNFIELD CONSTRUCTION LTD

CORNFIELD CONSTRUCTION LTD (REGISTERED NUMBER: 13326850)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 8


CORNFIELD CONSTRUCTION LTD

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: Mr E J Travis
Mrs F Travis





REGISTERED OFFICE: 79 Macclesfield Road
Hazel Grove
Stockport
SK7 6BG





REGISTERED NUMBER: 13326850 (England and Wales)





ACCOUNTANTS: Cadishead Accountancy Services Limited
Britannic House
657 Liverpool Road
Irlam
Manchester
Lancashire
M44 5XD

CORNFIELD CONSTRUCTION LTD (REGISTERED NUMBER: 13326850)

REPORT OF THE DIRECTORS
for the Year Ended 31 May 2024

The directors present their report with the financial statements of the company for the year ended 31 May 2024.

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1 June 2023 to the date of this report.

The beneficial interests of the directors holding office at 31 May 2024 in the shares of the company, according to the register of directors' interests, were as follows:

31.5.24 1.6.23
Ordinary shares of £1 each
Mr E J Travis 1 1
Mrs F Travis 1 1

These directors did not hold any non-beneficial interests in the shares of the company.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr E J Travis - Director


26 February 2025

CORNFIELD CONSTRUCTION LTD (REGISTERED NUMBER: 13326850)

BALANCE SHEET
31 May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 51,186 14,923

CURRENT ASSETS
Inventories 29,000 11,200
Debtors 5 1,128 -
Cash at bank and in hand 4,456 4,156
34,584 15,356
CREDITORS
Amounts falling due within one year 6 (46,163 ) (49,807 )
NET CURRENT LIABILITIES (11,579 ) (34,451 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,607

(19,528

)

CREDITORS
Amounts falling due after more than one
year

7

(38,225

)

(2,140

)

PROVISIONS FOR LIABILITIES (2,127 ) -
NET LIABILITIES (745 ) (21,668 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (747 ) (21,670 )
SHAREHOLDERS' FUNDS (745 ) (21,668 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

CORNFIELD CONSTRUCTION LTD (REGISTERED NUMBER: 13326850)

BALANCE SHEET - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:





Mr E J Travis - Director


CORNFIELD CONSTRUCTION LTD (REGISTERED NUMBER: 13326850)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Cornfield Construction Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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.

CORNFIELD CONSTRUCTION LTD (REGISTERED NUMBER: 13326850)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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 operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 4,007 21,981 406 26,394
Additions 95 53,264 - 53,359
At 31 May 2024 4,102 75,245 406 79,753
DEPRECIATION
At 1 June 2023 1,753 9,617 101 11,471
Charge for year 587 16,407 102 17,096
At 31 May 2024 2,340 26,024 203 28,567
NET BOOK VALUE
At 31 May 2024 1,762 49,221 203 51,186
At 31 May 2023 2,254 12,364 305 14,923

CORNFIELD CONSTRUCTION LTD (REGISTERED NUMBER: 13326850)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023 16,981
Additions 53,264
At 31 May 2024 70,245
DEPRECIATION
At 1 June 2023 7,429
Charge for year 15,704
At 31 May 2024 23,133
NET BOOK VALUE
At 31 May 2024 47,112
At 31 May 2023 9,552

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 1,128 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts (see note 8) 10,433 3,154
Trade creditors 27,220 22,363
Taxation and social security - 17,182
Other creditors 8,510 7,108
46,163 49,807

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts (see note 8) 38,225 2,140

CORNFIELD CONSTRUCTION LTD (REGISTERED NUMBER: 13326850)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.24 31.5.23
£    £   
Net obligations repayable:
Within one year 10,433 3,154
Between one and five years 38,225 2,140
48,658 5,294

Non-cancellable operating leases
31.5.24 31.5.23
£    £   
Within one year 360 360

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Hire purchase contracts 48,658 5,294

Hire purchase loans are secured on the assets to which they elate.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
Mr E J Travis
Balance outstanding at start of year - 9,955
Amounts repaid - (9,955 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr E J Travis.