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Registration number: 11622886

Countrywide Ceilings & Partitions Ltd
Annual Report and
Unaudited Financial Statements

31 October 2024

 

Countrywide Ceilings & Partitions Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Countrywide Ceilings & Partitions Ltd

Balance Sheet
31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,265

3,447

Current assets

 

Debtors

5

406,142

136,644

Cash at bank and in hand

 

43,724

28,119

 

449,866

164,763

Creditors: Amounts falling due within one year

6

(288,113)

(81,116)

Net current assets

 

161,753

83,647

Total assets less current liabilities

 

168,018

87,094

Creditors: Amounts falling due after more than one year

6

(53,733)

(65,538)

Provisions for liabilities

(741)

(741)

Net assets

 

113,544

20,815

Capital and reserves

 

Called up share capital

100

100

Retained earnings

113,444

20,715

Shareholders' funds

 

113,544

20,815

 

Countrywide Ceilings & Partitions Ltd

Balance Sheet
31 October 2024

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 Director acknowledges his 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 Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 June 2025
 

.........................................
Mr A W Derbyshire
Director

   
     

Company Registration Number: 11622886

 

Countrywide Ceilings & Partitions Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
Unit 8
Spring Street Business Park
St Marks Street
Bolton
BL3 6EJ

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. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

Countrywide Ceilings & Partitions Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 October 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Plant and machinery

33% Straight Line

Motor vehicles

20% Straight Line

Computer equipment

20% Straight Line

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.

 

Countrywide Ceilings & Partitions Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 October 2024

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 employed by the Company (including the Director) during the year, was 2 (2023 - 1).

 

Countrywide Ceilings & Partitions Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 October 2024

4

Tangible assets

Office equipment
 £

Computer equipment
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2023

1,268

2,997

1,200

1,738

7,203

Additions

2,331

2,782

-

125

5,238

At 31 October 2024

3,599

5,779

1,200

1,863

12,441

Depreciation

At 1 November 2023

391

996

960

1,409

3,756

Charge for the year

720

1,156

240

304

2,420

At 31 October 2024

1,111

2,152

1,200

1,713

6,176

Carrying amount

At 31 October 2024

2,488

3,627

-

150

6,265

At 31 October 2023

876

2,002

240

329

3,447

 

Countrywide Ceilings & Partitions Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 October 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

30,085

3,419

Prepayments

10,567

6,708

Other debtors

365,490

126,517

 

406,142

136,644

 

Countrywide Ceilings & Partitions Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

9,587

10,435

Trade creditors

 

182,652

44,330

Taxation and social security

 

59,898

24,632

Accruals and deferred income

 

26,022

390

Other creditors

 

9,954

1,329

 

288,113

81,116

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

53,733

65,538

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

16,267

20,006

Other borrowings

37,466

45,532

53,733

65,538

Current loans and borrowings

2024
£

2023
£

Bank borrowings

3,549

3,359

Other borrowings

6,038

7,076

9,587

10,435

 

Countrywide Ceilings & Partitions Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 October 2024

8

Related party transactions

Director's remuneration

The directors are remunerated by the company. The directors consider that their remuneration meets the criteria of being under normal market conditions.
The directors who are also shareholders receive dividends as part of this remuneration package.