Company registration number: 01877409
Unaudited financial statements
for the year ended 30 September 2024
for
Castlebroom Engineering Limited
Pages for filing with the Registrar
Company registration number: 01877409
Castlebroom Engineering Limited
Balance sheet
as at 30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 658,023 601,791
658,023 601,791
Current assets
Stocks 311,407 309,518
Debtors 267,503 288,691
Cash at bank and in hand 321,246 290,489
900,156 888,698
Creditors: amounts falling due within one
year
(203,698) (242,169)
Net current assets 696,458 646,529
Total assets less current liabilities 1,354,481 1,248,320
Creditors: Amounts falling due after more
than one year
5 (143,644) (68,557)
Provisions for liabilities (81,524) (81,524)
NET ASSETS 1,129,313 1,098,239
Capital and reserves
Called up share capital 114 114
Profit and loss account 1,129,199 1,098,125
TOTAL EQUITY 1,129,313 1,098,239
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 30 September 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 01877409
Castlebroom Engineering Limited
Balance sheet - continued
as at 30 September 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 5 June 2025 and signed on its behalf by:
Mr S Pegg, Director
5 June 2025
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Castlebroom Engineering Limited
Notes to the financial statements
for the year ended 30 September 2024
1 Company information
Castlebroom Engineering Limited is a private company registered in England and Wales. Its registered number is 01877409. The company is limited by shares. Its registered office is Unit10, Farthing Road Industrial Estate, Ipswich, IP1 5AP.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings:
Freehold property - 2% straight line
Plant and machinery etc.:
Improvements to property - 20% straight line
Plant and machinery - 20% reducing balance
Fixtures & fittings - 25% reducing balance
Motor vehicles - 20% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
3
Castlebroom Engineering Limited
Notes to the financial statements - continued
for the year ended 30 September 2024
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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 taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 11 (2023 - 9).
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Castlebroom Engineering Limited
Notes to the financial statements - continued
for the year ended 30 September 2024
4 Tangible fixed assets
Land and
buildings
Plant and
machinery
etc.
Totals
£ £ £
Cost
At 1 October 2023 162,048 439,743 601,791
At 30 September 2024 162,048 439,743 601,791
Depreciation
Charge for year - (56,232) (56,232)
At 30 September 2024 - (56,232) (56,232)
Net book value
At 30 September 2024 162,048 495,975 658,023
At 30 September 2023 162,048 439,743 601,791
If Land and Buildings had not been revalued, Land and Buildings would have been included at the following historical cost:
2024 2023
£ £
Cost 364,864 -
Accumulated depreciation 107,473 -
5 Creditors: amounts falling due after more than five years
2024 2023
£ £
Repayable otherwise than by instalments
Bank loans 143,644 -
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