Classic and Custom Works Limited 08239302 false 2024-05-01 2025-04-30 2025-04-30 The principal activity of the company is Repair and modification of motor vehicles Digita Accounts Production Advanced 6.30.9574.0 true true 08239302 2024-05-01 2025-04-30 08239302 2025-04-30 08239302 bus:OrdinaryShareClass1 2025-04-30 08239302 core:CurrentFinancialInstruments 2025-04-30 08239302 core:CurrentFinancialInstruments core:WithinOneYear 2025-04-30 08239302 core:Non-currentFinancialInstruments 2025-04-30 08239302 core:Non-currentFinancialInstruments core:AfterOneYear 2025-04-30 08239302 core:FurnitureFittingsToolsEquipment 2025-04-30 08239302 1 2025-04-30 08239302 bus:SmallEntities 2024-05-01 2025-04-30 08239302 bus:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 08239302 bus:FilletedAccounts 2024-05-01 2025-04-30 08239302 bus:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 08239302 bus:RegisteredOffice 2024-05-01 2025-04-30 08239302 bus:Director1 2024-05-01 2025-04-30 08239302 bus:Director2 2024-05-01 2025-04-30 08239302 bus:OrdinaryShareClass1 2024-05-01 2025-04-30 08239302 bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 08239302 core:FurnitureFittingsToolsEquipment 2024-05-01 2025-04-30 08239302 core:PlantMachinery 2024-05-01 2025-04-30 08239302 1 2024-05-01 2025-04-30 08239302 countries:England 2024-05-01 2025-04-30 08239302 2024-04-30 08239302 core:FurnitureFittingsToolsEquipment 2024-04-30 08239302 2023-05-01 2024-04-30 08239302 2024-04-30 08239302 bus:OrdinaryShareClass1 2024-04-30 08239302 core:CurrentFinancialInstruments 2024-04-30 08239302 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 08239302 core:Non-currentFinancialInstruments 2024-04-30 08239302 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 08239302 core:FurnitureFittingsToolsEquipment 2024-04-30 08239302 1 2024-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08239302

Classic and Custom Works Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2025

 

Classic and Custom Works Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Classic and Custom Works Limited

Company Information

Directors

K J Robertson

R A Smith

Registered office

Unit 2b Penn Street Works
Penn Street
Amersham
Buckinghamshire
HP7 0FA

Accountants

Sable & Argent Limited
2 Elvetham Crescent
Fleet
Hampshire
GU51 1BU

 

Classic and Custom Works Limited

(Registration number: 08239302)
Balance Sheet as at 30 April 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

360

351

Current assets

 

Cash at bank and in hand

 

3,694

3,253

Creditors: Amounts falling due within one year

5

(23,841)

(43,724)

Net current liabilities

 

(20,147)

(40,471)

Total assets less current liabilities

 

(19,787)

(40,120)

Creditors: Amounts falling due after more than one year

5

(9,382)

(11,475)

Net liabilities

 

(29,169)

(51,595)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(29,269)

(51,695)

Shareholders' deficit

 

(29,169)

(51,595)

For the financial year ending 30 April 2025 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 22 May 2025 and signed on its behalf by:
 

R A Smith
Director

   
     
 

Classic and Custom Works Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1

General information

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

The address of its registered office is:
Unit 2b Penn Street Works
Penn Street
Amersham
Buckinghamshire
HP7 0FA

These financial statements were authorised for issue by the Board on 22 May 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.

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.

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

Equipment

25% p.a. straight line on cost

 

Classic and Custom Works Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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.

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 at the transaction price 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. 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.

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 at the transaction price.

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.

3

Staff numbers

The average number of persons (including directors) employed by the company in the year was 2 (2024: 2).

 

Classic and Custom Works Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4

Tangible assets

Equipment
 £

Total
£

Cost or valuation

At 1 May 2024

476

476

Additions

167

167

At 30 April 2025

643

643

Depreciation

At 1 May 2024

125

125

Charge for the year

158

158

At 30 April 2025

283

283

Carrying amount

At 30 April 2025

360

360

At 30 April 2024

351

351

5

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

6

3,663

3,215

Trade creditors

 

9,402

3,088

Taxation and social security

 

5,548

17,424

Accruals and deferred income

 

834

650

Other creditors

 

4,394

19,347

 

23,841

43,724

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

6

9,382

11,475

 

Classic and Custom Works Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

6

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

9,382

11,475

Current loans and borrowings

2025
£

2024
£

Bank borrowings

2,077

2,026

Bank overdrafts

1,586

1,189

3,663

3,215

Bank borrowings

Bank loan is denominated in sterling with a nominal interest rate of 2.5%, and the final instalment is due on 1 July 2030. The carrying amount at year end is £11,459 (2024: £13,501).

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100