| Registered Number:04608635 |
For the year ended 30 September 2024
England and Wales
Unaudited Financial Statements
For the year ended 30 September 2024
Craig West Turf Limited
Contents Page
1
Statement of Financial Position
2 to 7
Notes to the Financial Statements
Craig West Turf Limited
Statement of Financial Position
2023
2024
-
802
2
| Property, plant and equipment |
265,363
280,626
3
265,363
281,428
54,432
63,543
4
| Trade and other receivables |
688,148
704,335
5
106,021
| Cash and cash equivalents |
141,379
909,257
848,601
| Trade and other payables: amounts falling due within one |
| year |
(808,560)
(893,385)
6
40,041
15,872
Net current assets
| Total assets less current liabilities |
281,235
321,469
| Trade and other payables: amounts falling due after more |
| than one year |
(180,012)
(95,714)
7
(61,000)
(65,200)
| Provisions for liabilities |
124,521
Net assets
76,257
1,000
1,000
123,521
75,257
124,521
76,257
Shareholders' funds
| For the year ended 30 September 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006 |
| The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
1 of 7
For the year ended 30 September 2024
Craig West Turf Limited
Statement of Financial Position Continued
| These financial statements were approved and authorised for issue by the Board on 23 June 2025 and were signed by: |
| The notes form part of these financial statements |
2 of 7
For the year ended 30 September 2024
Craig West Turf Limited
Notes to the Financial Statements
Statutory Information
| Craig West Turf Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
| number 04608635. |
Craig West Turf Limited
Gloucester Road,
Avonmouth,
Bristol
BS11 9AQ
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
| Companies Act 2006. The financial statements have been prepared under the historical costs convention. |
Revenue recognition
| Turnover comprises both the invoiced value of goods and services supplied by the company (net of Value Added Tax & trade discounts) and the movement in the value of uninvoiced amounts due under contract. |
Goodwill
| Goodwill is recorded at cost less amortisation and any provision for impairment, over its estimated remaining useful life. The estimated useful life of goodwill ranges from 10 to 20 years. |
Intangible assets
| Intangible fixed assets are recorded at cost and amortised over the estimated useful life on a straight line basis over the following periods: Computer software 2 Years Web-site creation costs 2 Years |
Property, plant and equipment
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives. Details of all of the rates of depreciation and basis applied are as follows:. |
Land and buildings
Plant and machinery
Computer equipment
Motor vehicles
Fixtures and fittings
| A higher depreciation rate of 50% is applied in respect of the capitalised cost of small tools and mobile telephones. |
Inventories
| Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Deferred tax
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. The provision is made based on the expected timing of reversals at anticipated future rates that have been substantially enacted at the statement of financial position date. |
3 of 7
For the year ended 30 September 2024
Craig West Turf Limited
Notes to the Financial Statements Continued
Hire purchase and leasing commitments
| Where the company enters into a lease that entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Where an asset is obtained under such a lease, or under a hire purchase agreement, the asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful life. Future instalments under such leases or contracts, net of finance charges, are included within creditors. Amounts payable are apportioned between the finance element, which is charged to the profit and loss account, and the capital element, which reduces the outstanding obligation for future capital repayments. Leases, not accounted for as finance leases (including the lease of land & buildings), are classed as operating leases and the rental charges 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 contributes to a defined contribution pension scheme (under Payroll Auto Enrolment arrangements) for the benefit of most of its directors and employees. Contributions payable are charged to the profit and loss account in relation to the payroll period in which they arise. |
| 2. Intangible fixed assets |
Goodwill
120,000
125,350
5,350
125,350
120,000
5,350
124,548
120,000
4,548
802
-
802
Charge for year
125,350
120,000
5,350
-
-
-
-
802
802
4 of 7
For the year ended 30 September 2024
Craig West Turf Limited
Notes to the Financial Statements Continued
| 3. Property, plant and equipment |
Motor vehicles
490,578
15,649
4,308
320,678
82,419
67,524
67,012
1,807
826
21,850
42,529
-
(3,040)
-
(15,925)
(3,150)
-
(22,115)
67,524
326,603
5,134
14,416
535,475
121,798
| Provision for depreciation and impairment |
209,952
8,542
3,533
121,581
40,323
35,973
Charge for year
73,442
2,372
463
50,200
13,644
6,763
(13,282)
(2,921)
-
(7,211)
(3,150)
-
270,112
7,993
3,996
164,570
50,817
42,736
24,788
70,981
162,033
1,138
6,423
265,363
31,551
42,096
199,097
775
7,107
280,626
2023
2024
63,543
54,432
| 5. Trade and other receivables |
2023
2024
622,982
597,843
| Prepayments and accrued income |
77,355
81,925
3,998
8,380
688,148
704,335
5 of 7
For the year ended 30 September 2024
Craig West Turf Limited
Notes to the Financial Statements Continued
| 6. Trade and other payables: amounts falling due within one year |
2023
2024
43,955
43,955
652,429
543,150
| Taxation and social security |
63,173
59,137
| Accruals and deferred income |
46,920
43,995
26,512
49,915
| Obligations under HP/Financial leases |
48,008
55,308
12,388
13,100
893,385
808,560
| 7. Trade and other payables: amounts falling due after more than one year |
2023
2024
-
45,713
134,299
95,714
| Obligations under HP/Financial leases |
95,714
180,012
| All of the above amounts at 30 September 2024 and 30 September 2023, fell due for payment within two to five years. |
| 8. Related party transactions |
| There were no related party transactions other than movements on the directors' current accounts. There were |
| movements on three directors' current accounts, including one joint directors' account, during the year. The current |
| account of Mr S West became overdrawn for short periods of time, by a maximum of £9,961, during the prior year |
| ended 30 September 2023. The total of the short term advances to Mr S West during the year ended 30 September |
| 2023 amounted to £22,090. The loan account was returned to credit before 30 September 2023. |
| The total directors' loan account balances outstanding, and due to the company, at 30 September 2024 was £Nil |
| (2023 £Nil). The total amount owed by the company to a number of the directors (and members of their families who |
| are Participators) at the end of the year amounted to £35,523 (2023 £61,059). |
| With effect from May 2018, one director has (jointly with other non-connected parties) provided a personal guarantee |
| in respect of a joint (with another unconnected party) ten year lease. This is in relation to the premises from which |
| the Company trades with the other 50% joint non-connected tenant. The total annual rent payable under the joint |
| lease is £70,000 (plus VAT) per annum. |
| Two directors have each provided joint personal guarantees in respect of all assets that have been purchased under |
| Hire Purchase or Finance Lease agreements. The outstanding balances on the HP and Finance Lease agreements |
| at 30 September 2024 amounted to £143,722 (2023 £189,607). The total future commitments under these |
| arrangements at 30 September 2024 amounted to £162,282 (2023 £217,908). The two directors have also provided |
| a joint personal guarantee of £30,000 to one of the Company's major suppliers. |
6 of 7
For the year ended 30 September 2024
Craig West Turf Limited
Notes to the Financial Statements Continued
| 9. Guarantees and other financial commitments |
| At 30 September 2024 and 30 September 2023, the Company had obligations under an operating lease for land and |
| buildings, which expires in May 2028. At the end of the year the total obligation amounted to £210,000 (2023 |
| £280,000); of which £70,000 (2023 £70,000) falls due within one year, and £140,000 (2023 £210,000) falls due |
| within two to five years. |
| The 2024 and 2023 lease commitments relate to the Company's maximum potential obligations under a lease from |
| May 2018 when the Company became an equal 50% party to a joint lease. Under the terms of this lease the |
| Company became jointly liable for the whole of the rent payable of £700,000 over the original ten year term. |
| At 30 September 2024 (and at 30 September 2023) the Company had further obligations under an operating lease |
| for plant and equipment, which expires in June 2027 (2021: December 2023). At the end of the year the total |
| obligation amounted to £5,709 (2023 £7,785); of which £2,076 (2023 £2,076) falls due within one year, and £3,633 |
| (2023 £5,709) falls due within two to five years. |
| The value of these commitments are stated exclusive of VAT. |
| 10. Average number of persons employed |
During the year the average number of employees was 19 (2023 : 19)
7 of 7