Registered number
09257382
CR Building Contractors Limited
Filleted Accounts
31 October 2024
CR Building Contractors Limited
Registered number: 09257382
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 241,697 96,385
Current assets
Work in progress 428,930 391,248
Debtors 4 1,122,310 976,963
Cash at bank and in hand 16 130
1,551,256 1,368,341
Creditors: amounts falling due within one year 5 (642,751) (531,802)
Net current assets 908,505 836,539
Total assets less current liabilities 1,150,202 932,924
Creditors: amounts falling due after more than one year 6 (399,991) (560,019)
Provisions for liabilities (35,008) (23,606)
Net assets 715,203 349,299
Capital and reserves
Called up share capital 100 100
Profit and loss account 715,103 349,199
Shareholders' funds 715,203 349,299
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Radescu
Director
Approved by the board on 21 May 2025
CR Building Contractors Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% on reducing balance
Motor vehicles 25% on reducing balance
Leasehold property over the lease term
Work in progress
Work in progress is measured at the lower of cost and net realisable value. Cost is determined using the first in first out method. The carrying amount of work in progress is recognised in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Leasehold property Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 2,453 12,632 205,947 221,032
Additions 6,630 98,400 99,995 205,025
At 31 October 2024 9,083 111,032 305,942 426,057
Depreciation
At 1 November 2023 490 11,564 112,593 124,647
Charge for the year 920 10,456 48,337 59,713
At 31 October 2024 1,410 22,020 160,930 184,360
Net book value
At 31 October 2024 7,673 89,012 145,012 241,697
At 31 October 2023 1,963 1,068 93,354 96,385
4 Debtors 2024 2023
£ £
Amounts owed by related undertakings 519,768 713,906
Accrued income 544,165 69,708
Prepayments 42,589 188,849
Other debtors 15,788 4,500
1,122,310 976,963
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 291,826 307,968
Obligations under finance lease and hire purchase contracts 58,649 34,543
Taxation and social security costs 45,021 43,468
Director's current account 104,058 2,987
Deferred income and accruals 3,500 2,500
VAT liability - 10,972
Net wages payable 6,150 6,900
Other creditors 133,547 122,464
642,751 531,802
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 326,174 505,898
Obligations under finance lease and hire purchase contracts 73,817 54,121
399,991 560,019
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 559,440 784,610
With a fixed and floating charge over all assets.
Unsecured bank loans 17,369 46,451
Unsecured bank loan is comprised of loan received under the Government's 'Bounce Back Loan'
scheme.
8 Related party transactions
Included within the debtors is an amount of £230,796 (2023: £445,795) owed from CR Developments & Constructions Ltd, a related company of which Mr C Radescu is the sole director and shareholder.
Included within the debtors is an amount of £288,611 (2023: £268,111) owed from CR Property Investments Ltd, a related company of which Mr C Radescu is the sole director.
9 Controlling party
The ultimate controlling party is Mr C Radescu. His control comes by virtue of shareholding, directorship and day to day running of the business.
10 Other information
CR Building Contractors Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Green Close
London
NW9 8AT
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