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REGISTERED NUMBER: 03503767 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

CONEY BROTHERS DRY CONSTRUCTION LIMITED

CONEY BROTHERS DRY CONSTRUCTION LIMITED (REGISTERED NUMBER: 03503767)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CONEY BROTHERS DRY CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: N B Sherress
S H Coney
F J Sherress
A Coney





SECRETARY: N B Sherress





REGISTERED OFFICE: 30/34 North Street
Hailsham
East Sussex
BN27 1DW





REGISTERED NUMBER: 03503767 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Ltd
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

CONEY BROTHERS DRY CONSTRUCTION LIMITED (REGISTERED NUMBER: 03503767)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 103,930 138,044
103,930 138,044

CURRENT ASSETS
Stocks 124,485 139,485
Debtors 6 3,228,102 3,041,604
Cash at bank 878,405 904,915
4,230,992 4,086,004
CREDITORS
Amounts falling due within one year 7 (1,505,848 ) (1,430,314 )
NET CURRENT ASSETS 2,725,144 2,655,690
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,829,074

2,793,734

CREDITORS
Amounts falling due after more than one
year

8

(50,460

)

(69,906

)

PROVISIONS FOR LIABILITIES (18,364 ) (24,758 )
NET ASSETS 2,760,250 2,699,070

CAPITAL AND RESERVES
Called up share capital 9 66,666 66,666
Share premium 52,165 52,165
Capital redemption reserve 33,334 33,334
Retained earnings 2,608,085 2,546,905
SHAREHOLDERS' FUNDS 2,760,250 2,699,070

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

CONEY BROTHERS DRY CONSTRUCTION LIMITED (REGISTERED NUMBER: 03503767)

BALANCE SHEET - continued
30 JUNE 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by:





N B Sherress - Director


CONEY BROTHERS DRY CONSTRUCTION LIMITED (REGISTERED NUMBER: 03503767)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Coney Brothers Dry Construction Limited 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


CONEY BROTHERS DRY CONSTRUCTION LIMITED (REGISTERED NUMBER: 03503767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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 12 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 50,000
AMORTISATION
At 1 July 2023
and 30 June 2024 50,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

CONEY BROTHERS DRY CONSTRUCTION LIMITED (REGISTERED NUMBER: 03503767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 68,849 341,425 410,274
DEPRECIATION
At 1 July 2023 60,615 211,615 272,230
Charge for year 2,202 31,912 34,114
At 30 June 2024 62,817 243,527 306,344
NET BOOK VALUE
At 30 June 2024 6,032 97,898 103,930
At 30 June 2023 8,234 129,810 138,044

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023
and 30 June 2024 112,649
DEPRECIATION
At 1 July 2023 24,522
Charge for year 21,491
At 30 June 2024 46,013
NET BOOK VALUE
At 30 June 2024 66,636
At 30 June 2023 88,127

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 376,252 106,189
Amounts owed by group undertakings 2,464,621 1,578,883
Amounts recoverable on contract 338,387 1,276,231
Other debtors 48,842 80,301
3,228,102 3,041,604

CONEY BROTHERS DRY CONSTRUCTION LIMITED (REGISTERED NUMBER: 03503767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 19,446 17,743
Trade creditors 1,256,942 1,056,132
Taxation and social security 141,594 264,770
Other creditors 87,866 91,669
1,505,848 1,430,314

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 50,460 69,906

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
16,667 Ordinary A £1 16,667 16,667
16,666 Ordinary B £1 16,666 16,666
16,667 Ordinary C £1 16,667 16,667
16,666 Ordinary D £1 16,666 16,666
66,666 66,666

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
N B Sherress
Balance outstanding at start of year - 942,665
Amounts advanced - 11,855
Amounts repaid - (954,520 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

11. RELATED PARTY DISCLOSURES

During the year the company entered into the following transactions with related parties:

Coney Brothers Pension Trust, a scheme set up for the benefit of the directors:
- rent paid £4,712 (2023: £18,850).

12. ULTIMATE CONTROLLING PARTY

The company is controlled by CBDC Holdings Ltd who acquired 100% of the issued share capital on 30 September 2022.

The Ultimate controlling party is Nick Sherress.