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REGISTERED NUMBER: 05090897 (England and Wales)









Unaudited Financial Statements

for the Period 1 May 2023 to 31 July 2024

for

Close Brothers Rail Limited

Close Brothers Rail Limited (Registered number: 05090897)






Contents of the Financial Statements
for the Period 1 May 2023 to 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Close Brothers Rail Limited

Company Information
for the Period 1 May 2023 to 31 July 2024







DIRECTORS: Mr M Close
Mr A J Close
Mr P Dean





SECRETARY: Mrs K Close





REGISTERED OFFICE: Dovedale House
Hurricane Way
Wickford
Essex
SS11 8YB





REGISTERED NUMBER: 05090897 (England and Wales)





ACCOUNTANTS: DANIEL JAMES
UNIT L
RADFORD BUSINESS CENTRE
RADFORD WAY
BILLERICAY
Essex
CM12 0BZ

Close Brothers Rail Limited (Registered number: 05090897)

Balance Sheet
31 July 2024

31.7.24 30.4.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 3,942,976 2,797,206

CURRENT ASSETS
Stocks 136,000 140,000
Debtors 5 6,232,540 5,317,633
Cash at bank and in hand 1,012,978 952,209
7,381,518 6,409,842
CREDITORS
Amounts falling due within one year 6 1,619,303 1,916,958
NET CURRENT ASSETS 5,762,215 4,492,884
TOTAL ASSETS LESS CURRENT LIABILITIES 9,705,191 7,290,090

CREDITORS
Amounts falling due after more than one year 7 (2,137,218 ) (744,129 )

PROVISIONS FOR LIABILITIES (533,549 ) (276,163 )
NET ASSETS 7,034,424 6,269,798

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 9 516,215 516,215
Retained earnings 6,518,207 5,753,581
SHAREHOLDERS' FUNDS 7,034,424 6,269,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 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.

Close Brothers Rail Limited (Registered number: 05090897)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:




Mr M Close - Director



Mr A Close - Director


Close Brothers Rail Limited (Registered number: 05090897)

Notes to the Financial Statements
for the Period 1 May 2023 to 31 July 2024

1. STATUTORY INFORMATION

Close Brothers Rail 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and Machinery -20% Reducing Balance
Motor Vehicles -20% Reducing Balance
Computer Equipment -20% Reducing Balance
Fixtures and Fittings -20% Reducing Balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the period 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 period 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.

Close Brothers Rail Limited (Registered number: 05090897)

Notes to the Financial Statements - continued
for the Period 1 May 2023 to 31 July 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 period was 42 (2023 - 41 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 May 2023 1,500,000 3,731,310 5,231,310
Additions - 1,496,261 1,496,261
Disposals - (27,251 ) (27,251 )
At 31 July 2024 1,500,000 5,200,320 6,700,320
DEPRECIATION
At 1 May 2023 - 2,434,104 2,434,104
Charge for period - 403,156 403,156
Eliminated on disposal - (79,916 ) (79,916 )
At 31 July 2024 - 2,757,344 2,757,344
NET BOOK VALUE
At 31 July 2024 1,500,000 2,442,976 3,942,976
At 30 April 2023 1,500,000 1,297,206 2,797,206

Cost or valuation at 31 July 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2024 1,500,000 5,200,320 6,700,320

Close Brothers Rail Limited (Registered number: 05090897)

Notes to the Financial Statements - continued
for the Period 1 May 2023 to 31 July 2024

4. TANGIBLE FIXED ASSETS - continued

If Dovedale House had not been revalued it would have been included at the following historical cost:

31.7.24 30.4.23
£    £   
Cost 833,785 833,785

Value of land in freehold land and buildings 1,500,000 1,500,000

Dovedale House was valued on an open market basis on 31 July 2024 by the directors .

5. DEBTORS
31.7.24 30.4.23
£    £   
Amounts falling due within one year:
Trade debtors 1,101,827 2,222,654
Other debtors 2,386,611 977,627
3,488,438 3,200,281

Amounts falling due after more than one year:
Amounts owed by associates 2,744,102 2,117,352

Aggregate amounts 6,232,540 5,317,633

Debtors include money invested into Close Homes Limited, a company under common control. The balance owed at the balance sheet date amounts to £2,337,372 and is repayable on demand, no interest was charged.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 30.4.23
£    £   
Bank loans and overdrafts 122,410 96,358
Hire purchase contracts 349,100 373,941
Trade creditors 486,343 451,595
Taxation and social security 166,885 336,573
Other creditors 494,565 658,491
1,619,303 1,916,958

Close Brothers Rail Limited (Registered number: 05090897)

Notes to the Financial Statements - continued
for the Period 1 May 2023 to 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 30.4.23
£    £   
Bank loans 283,938 246,145
Hire purchase contracts 1,848,656 497,984
Amounts owed to associates 4,624 -
2,137,218 744,129

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 283,938 246,145

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 30.4.23
£    £   
Bank loans 406,348 342,503
Hire Purchase contracts 887,375 789,621
1,293,723 1,132,124

Barclays Bank PLC hold a fixed and floating charges over the undertaking and all property and assets present and future including, goodwill, bookdebts, uncalled capital, buildings, fixtures, fixed plant and machinery.

Hire purchase liabilities are secured by the related assets held under its own agreement.

9. RESERVES

The balance included within the fair value reserve represents any movement during the year in the fair value of the freehold property only. All other asset classes have been accounted for under historic cost less accumulated depreciation.

Close Brothers Rail Limited (Registered number: 05090897)

Notes to the Financial Statements - continued
for the Period 1 May 2023 to 31 July 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 July 2024 and the year ended 30 April 2023:

31.7.24 30.4.23
£    £   
Mr M Close
Balance outstanding at start of period 318,418 250,000
Amounts advanced 121,245 68,418
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 439,663 318,418

Mr A J Close
Balance outstanding at start of period 301,275 250,000
Amounts advanced 68,590 51,275
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 369,865 301,275