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COMPANY REGISTRATION NUMBER: 03003395

Cardinal Cast Slates Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Cardinal Cast Slates Ltd

Contents

Statement of Financial Position

1 to 2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 8

 

Cardinal Cast Slates Ltd

Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

169,689

155,942

Current assets

 

Stocks

6

102,539

91,643

Debtors

7

178,505

205,016

Cash at bank and in hand

 

933,939

731,904

 

1,214,983

1,028,563

Creditors: Amounts falling due within one year

8

(178,971)

(177,392)

Net current assets

 

1,036,012

851,171

Total assets less current liabilities

 

1,205,701

1,007,113

Provisions for liabilities

(6,114)

(828)

Net assets

 

1,199,587

1,006,285

Capital and reserves

 

Called up share capital

9

1,000

1,000

Capital redemption reserve

1

1

Retained earnings

1,198,586

1,005,284

Shareholders' funds

 

1,199,587

1,006,285

For the financial year ending 31 December 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.

Company registration number: :03003395

Approved and authorised by the Board on 14 April 2025 and signed on its behalf by:
 

 

Cardinal Cast Slates Ltd

Statement of Financial Position as at 31 December 2024 (continued)

Mr T G A Richards
Director

Mr R A Parsons
Director

 
     
 

Cardinal Cast Slates Ltd

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 January 2024

1,000

1

1,005,284

1,006,285

Profit for the year

-

-

193,302

193,302

At 31 December 2024

1,000

1

1,198,586

1,199,587

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 January 2023

1,000

1

858,983

859,984

Profit for the year

-

-

164,301

164,301

Dividends

-

-

(18,000)

(18,000)

At 31 December 2023

1,000

1

1,005,284

1,006,285

 

Cardinal Cast Slates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Claywell Farm
Aston Road
Ducklington
Witney
Oxfordshire
OX29 7QZ

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.

 

Cardinal Cast Slates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Plant & Equipment

25% straight line

Computer Equipment

25% straight line

Leasehold improvements

26 years straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Cardinal Cast Slates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 15).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

18,861

15,272

 

Cardinal Cast Slates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5

Tangible assets

Short leasehold land and buildings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

197,012

510,470

4,724

712,206

Additions

-

32,608

-

32,608

At 31 December 2024

197,012

543,078

4,724

744,814

Depreciation

At 1 January 2024

44,382

507,158

4,724

556,264

Charge for the year

7,397

11,464

-

18,861

At 31 December 2024

51,779

518,622

4,724

575,125

Carrying amount

At 31 December 2024

145,233

24,456

-

169,689

At 31 December 2023

152,630

3,312

-

155,942

Included within the net book value of land and buildings above is £145,233 (2023 - £152,630) in respect of short leasehold land and buildings.
 

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

102,539

91,643

7

Debtors

Current

2024
£

2023
£

Trade debtors

156,872

168,385

Prepayments

14,687

16,127

Other debtors

6,946

20,504

 

178,505

205,016

 

Cardinal Cast Slates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

4,851

13,475

Taxation and social security

144,609

137,732

Accruals and deferred income

22,707

19,192

Other creditors

6,804

6,993

178,971

177,392

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000