Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-3111falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-06-01No description of principal activity10falsetrue 08053157 2023-06-01 2024-05-31 08053157 2022-06-01 2023-05-31 08053157 2024-05-31 08053157 2023-05-31 08053157 c:Director1 2023-06-01 2024-05-31 08053157 d:PlantMachinery 2023-06-01 2024-05-31 08053157 d:PlantMachinery 2024-05-31 08053157 d:PlantMachinery 2023-05-31 08053157 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08053157 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 08053157 d:MotorVehicles 2023-06-01 2024-05-31 08053157 d:MotorVehicles 2024-05-31 08053157 d:MotorVehicles 2023-05-31 08053157 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08053157 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 08053157 d:FurnitureFittings 2023-06-01 2024-05-31 08053157 d:FurnitureFittings 2024-05-31 08053157 d:FurnitureFittings 2023-05-31 08053157 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08053157 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 08053157 d:OfficeEquipment 2023-06-01 2024-05-31 08053157 d:OfficeEquipment 2024-05-31 08053157 d:OfficeEquipment 2023-05-31 08053157 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08053157 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 08053157 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08053157 d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 08053157 d:CurrentFinancialInstruments 2024-05-31 08053157 d:CurrentFinancialInstruments 2023-05-31 08053157 d:Non-currentFinancialInstruments 2024-05-31 08053157 d:Non-currentFinancialInstruments 2023-05-31 08053157 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 08053157 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 08053157 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 08053157 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 08053157 d:ShareCapital 2024-05-31 08053157 d:ShareCapital 2023-05-31 08053157 d:RetainedEarningsAccumulatedLosses 2024-05-31 08053157 d:RetainedEarningsAccumulatedLosses 2023-05-31 08053157 c:OrdinaryShareClass1 2023-06-01 2024-05-31 08053157 c:OrdinaryShareClass1 2024-05-31 08053157 c:OrdinaryShareClass1 2023-05-31 08053157 c:FRS102 2023-06-01 2024-05-31 08053157 c:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 08053157 c:FullAccounts 2023-06-01 2024-05-31 08053157 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08053157 d:WithinOneYear 2024-05-31 08053157 d:WithinOneYear 2023-05-31 08053157 2 2023-06-01 2024-05-31 08053157 7 2023-06-01 2024-05-31 08053157 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-05-31 08053157 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-31 08053157 d:LeasedAssetsHeldAsLessee 2024-05-31 08053157 d:LeasedAssetsHeldAsLessee 2023-05-31 08053157 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08053157










365 Concrete Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 May 2024

 
365 Concrete Ltd
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of 365 Concrete Ltd for the year ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 365 Concrete Ltd for the year ended 31 May 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of 365 Concrete Ltd, as a body, in accordance with the terms of our engagement letter dated 25 January 2023Our work has been undertaken solely to prepare for your approval the financial statements of 365 Concrete Ltd and state those matters that we have agreed to state to the Board of directors of 365 Concrete Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 365 Concrete Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that 365 Concrete Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of 365 Concrete Ltd. You consider that 365 Concrete Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of 365 Concrete Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Sandwich
27 February 2025
Page 1

 
365 Concrete Ltd
Registered number: 08053157

Balance sheet
As at 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
385,460
418,422

  
385,460
418,422

Current assets
  

Stocks
  
24,919
19,919

Debtors: amounts falling due within one year
 5 
438,982
622,024

Cash at bank and in hand
  
45,912
87,565

  
509,813
729,508

Creditors: amounts falling due within one year
 6 
(845,240)
(644,931)

Net current (liabilities)/assets
  
 
 
(335,427)
 
 
84,577

Total assets less current liabilities
  
50,033
502,999

Creditors: amounts falling due after more than one year
 7 
(19,908)
(53,791)

  

Net assets
  
30,125
449,208


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
30,025
449,108

  
30,125
449,208


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 February 2025.

R A Gorman
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
365 Concrete Ltd
 

 
Notes to the financial statements
For the year ended 31 May 2024

1.


General information

365 Concrete Ltd is a private company limited by shares and is incorporated in England with registration number 08053157. The registered office address of the company is Kreston Reeves LLP, Innovation house, Innovation Way, Discovery Park, Sandwich, Kent, England CT13 9FF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

These financial statements are rounded to the nearest pound.
The company's functional and presentational currency is Pounds Sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
365 Concrete Ltd
 

 
Notes to the financial statements
For the year ended 31 May 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
15%
Motor vehicles
-
20 - 25%
Fixtures & fittings
-
15%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
365 Concrete Ltd
 

 
Notes to the financial statements
For the year ended 31 May 2024

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.13

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
365 Concrete Ltd
 

 
Notes to the financial statements
For the year ended 31 May 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 11).


4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 June 2023
423,897
1,148,701
57,799
32,145
1,662,542


Additions
9,482
-
133,552
941
143,975


Disposals
(29,000)
-
-
-
(29,000)



At 31 May 2024

404,379
1,148,701
191,351
33,086
1,777,517



Depreciation


At 1 June 2023
368,748
787,557
57,737
30,078
1,244,120


Charge for the year on owned assets
29,867
73,968
12,526
1,446
117,807


Charge for the year on financed assets
-
59,130
-
-
59,130


Disposals
(29,000)
-
-
-
(29,000)



At 31 May 2024

369,615
920,655
70,263
31,524
1,392,057



Net book value



At 31 May 2024
34,764
228,046
121,088
1,562
385,460



At 31 May 2023
55,149
361,144
62
2,067
418,422

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
13,540
72,670

13,540
72,670

Page 6

 
365 Concrete Ltd
 

 
Notes to the financial statements
For the year ended 31 May 2024

5.


Debtors

2024
2023
£
£


Trade debtors
108,062
146,268

Amounts owed by group undertakings
254,358
392,180

Other debtors
7,220
632

Prepayments and accrued income
69,342
82,944

438,982
622,024



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,015
9,767

Trade creditors
534,776
302,937

Amounts owed to group undertakings
171,307
157,515

Other taxation and social security
9,634
37,949

Obligations under finance lease and hire purchase contracts
23,868
86,012

Other creditors
55,980
45,801

Accruals and deferred income
39,660
4,950

845,240
644,931



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
19,908
29,923

Net obligations under finance leases and hire purchase contracts
-
23,868

19,908
53,791


The hire purchase contracts are secured via a fixed charge over the assets to which they relate.

Page 7

 
365 Concrete Ltd
 

 
Notes to the financial statements
For the year ended 31 May 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



9.


Commitments under operating leases

At 31 May 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
120,000
120,000

120,000
120,000


10.


Related party transactions

All related party transactions during the current and prior periods, including key management compesation, were concluded under normal market conditions.


11.


Controlling party

The ultimate controlling party is Mr R A Gorman by virtue of his 100% shareholding of the holding company.

Page 8