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Registration number: 09000931

Craven Surface Treatments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Craven Surface Treatments Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Craven Surface Treatments Ltd

Company Information

Directors

Mr A T Heaton

Mrs C Heaton

Registered office

Unit 1
Engine Shed Lane
Skipton
North Yorkshire
BD23 1UP

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Craven Surface Treatments Ltd
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Craven Surface Treatments Ltd for the year ended 30 April 2024 as set out on pages 3 to 8 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Craven Surface Treatments Ltd, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Craven Surface Treatments Ltd and state those matters that we have agreed to state to the Board of Directors of Craven Surface Treatments Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Craven Surface Treatments Ltd and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of Craven Surface Treatments 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 accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

4 March 2025

 

Craven Surface Treatments Ltd

(Registration number: 09000931)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

9,444

10,759

Current assets

 

Debtors

5

62,449

105,950

Cash at bank and in hand

 

60,727

16,178

 

123,176

122,128

Creditors: Amounts falling due within one year

6

(23,020)

(15,325)

Net current assets

 

100,156

106,803

Total assets less current liabilities

 

109,600

117,562

Creditors: Amounts falling due after more than one year

6

(11,735)

(21,735)

Net assets

 

97,865

95,827

Capital and reserves

 

Called up share capital

100

100

Retained earnings

97,765

95,727

Shareholders' funds

 

97,865

95,827

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 March 2025 and signed on its behalf by:
 

.........................................
Mr A T Heaton
Director

 

Craven Surface Treatments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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 1
Engine Shed Lane
Skipton
North Yorkshire
BD23 1UP

These financial statements were authorised for issue by the Board on 4 March 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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, tools and equipment

20% 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.

 

Craven Surface Treatments Ltd

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

Trade 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.

Trade creditors

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

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.

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.

 

Craven Surface Treatments Ltd

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 5 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

21,333

2,703

24,036

Additions

3,000

-

3,000

At 30 April 2024

24,333

2,703

27,036

Depreciation

At 1 May 2023

10,833

2,444

13,277

Charge for the year

4,250

65

4,315

At 30 April 2024

15,083

2,509

17,592

Carrying amount

At 30 April 2024

9,250

194

9,444

At 30 April 2023

10,500

259

10,759

5

Debtors

2024
£

2023
£

Trade debtors

47,764

6,726

Other debtors

14,685

99,224

62,449

105,950

 

Craven Surface Treatments Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

10,000

10,000

Trade creditors

 

6,084

4,545

Taxation and social security

 

4,999

-

Accruals and deferred income

 

1,080

780

Other creditors

 

857

-

 

23,020

15,325

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

11,735

21,735

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

11,735

21,735

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

8

Financial commitments, guarantees and contingencies

A fixed and floating charge is secured against the company's assets by nature of a cross guarantee for a loan facility entered into by ATH (NDT) Ltd.

 

Craven Surface Treatments Ltd

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

9

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Repayments by director
£

At 30 April 2024
£

Mr A T Heaton

Repayable on demand; interest charged at the official rate

1,441

(1,890)

(449)

Mrs C Heaton

Repayable on demand; interest charged at the official rate

1,422

(1,890)

(468)

2023

At 1 May 2022
£

Advances to director
£

At 30 April 2023
£

Mr A T Heaton

Repayable on demand; interest charged at the official rate

(299)

1,740

1,441

Mrs C Heaton

Repayable on demand; interest charged at the official rate

(318)

1,740

1,422

Summary of transactions with associates


The directors, Mr A Heaton & Mrs C Heaton, are the controlling party of both Craven NDT Services Limited and ATH (NDT) Ltd.

 
Craven NDT Services Limited continued to advance loan facilities to ATH (NDT) Ltd during the year. This resulted in a balance owing to Craven NDT Services Limited of £8,415 (2023 - £89,275).