Registered number
01843190
Courtprice Limited
Filleted Accounts
30 June 2024
Courtprice Limited
Registered number: 01843190
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 19,600 25,318
Current assets
Debtors 4 217,986 117,341
Cash at bank and in hand 287,315 386,294
505,301 503,635
Creditors: amounts falling due within one year 5 (465,849) (472,931)
Net current assets 39,452 30,704
Net assets 59,052 56,022
Capital and reserves
Called up share capital 5,500 5,500
Profit and loss account 53,552 50,522
Shareholders' funds 59,052 56,022
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R T Berry
Director
Approved by the board on 17 March 2025
Courtprice Limited
Statement of Changes in Equity
for the year ended 30 June 2024
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 July 2022 5,500 - - 56,445 61,945
Loss for the financial year (5,923) (5,923)
At 30 June 2023 5,500 - - 50,522 56,022
At 1 July 2023 5,500 - - 50,522 56,022
Profit for the financial year 3,030 3,030
At 30 June 2024 5,500 - - 53,552 59,052
Courtprice Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over 5 years on a straight line basis
Computer Software 10% and 20% on cost
Office Equipment / Vehicles 25% and 20% on the reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease in equal instalments. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 110,936 80,647 191,583
Additions 463 - 463
At 30 June 2024 111,399 80,647 192,046
Depreciation
At 1 July 2023 106,142 60,123 166,265
Charge for the year 1,051 5,130 6,181
At 30 June 2024 107,193 65,253 172,446
Net book value
At 30 June 2024 4,206 15,394 19,600
At 30 June 2023 4,794 20,524 25,318
4 Debtors 2024 2023
£ £
Trade debtors 207,469 110,787
Other debtors 10,517 6,554
217,986 117,341
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 35,618 31,971
Obligations under finance lease and hire purchase contracts - 6,009
Trade creditors 419,143 414,734
Taxation and social security costs 7,519 6,299
Other creditors 3,569 13,918
465,849 472,931
6 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases
Within 1 year - 15,500
Within 2 to 5 years - 74,917
Over 5 years - -
- 90,417
Following the move to alternative premises, the lease has been terminated by mutual consent, with no penalty on surrender.
7 Controlling party
The company is controlled by the directors, R. T. & Mrs C. I. Berry.
8 Other information
Courtprice Limited is a private company limited by shares and incorporated in England. Its registered office is:
Lloyds Building
10 The Square
Alvechurch
Birmingham
B48 7LA
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