Registered number
08418855
Cromwell Builders Limited
Unaudited Filleted Accounts
28 February 2025
Cromwell Builders Limited
Registered number: 08418855
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 76,393 68,272
Current assets
Debtors 4 66,094 67,445
Cash at bank and in hand 234,535 94,823
300,629 162,268
Creditors: amounts falling due within one year 5 (194,490) (114,295)
Net current assets 106,139 47,973
Total assets less current liabilities 182,532 116,245
Creditors: amounts falling due after more than one year 6 (12,139) (6,116)
Net assets 170,393 110,129
Capital and reserves
Called up share capital 100 100
Profit and loss account 170,293 110,029
Shareholders' funds 170,393 110,129
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.
Stefan Apostol
Director
Approved by the board on 27 May 2025
Cromwell Builders Limited
Notes to the Accounts
for the year ended 28 February 2025
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% reducing balance
Motor vehicles 25% reducing balance
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 March 2024 93,795 123,209 217,004
Additions - 42,943 42,943
Disposals - (39,429) (39,429)
At 28 February 2025 93,795 126,723 220,518
Depreciation
At 1 March 2024 63,943 84,789 148,732
Charge for the year 7,463 18,002 25,465
On disposals - (30,072) (30,072)
At 28 February 2025 71,406 72,719 144,125
Net book value
At 28 February 2025 22,389 54,004 76,393
At 29 February 2024 29,852 38,420 68,272
4 Debtors 2025 2024
£ £
Trade debtors 28,990 36,415
Other debtors 37,104 31,030
66,094 67,445
5 Creditors: amounts falling due within one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 14,247 8,155
Trade creditors 37,564 25,194
Taxation and social security costs 51,711 54,085
Other creditors 90,968 26,861
194,490 114,295
6 Creditors: amounts falling due after one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 12,139 6,116
7 Controlling party
The company is under the contol of Mr S Apostol, Mrs A Apostol and Mr P Apostol.
8 Other information
Cromwell Builders Limited is a private company limited by shares and incorporated in England. Its registered office is 17 Bryanston Avenue, Twickenham, TW2 6HP.
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