Company Registration No. 06927618 (England and Wales)
CAXTON BUILDERS (MIDLANDS) LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CAXTON BUILDERS (MIDLANDS) LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
31 December 2024
30 November 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
150,319
169,080
Current assets
Stocks
-
52,148
Debtors
5
5,566,368
4,631,870
Cash at bank and in hand
32,343
246,668
5,598,711
4,930,686
Creditors: amounts falling due within one year
6
(3,733,298)
(3,154,789)
Net current assets
1,865,413
1,775,897
Total assets less current liabilities
2,015,732
1,944,977
Creditors: amounts falling due after more than one year
7
(121,300)
(385,116)
Provisions for liabilities
(19,600)
(20,000)
Net assets
1,874,832
1,539,861
Capital and reserves
Called up share capital
125
125
Profit and loss reserves
1,874,707
1,539,736
Total equity
1,874,832
1,539,861

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 July 2025 and are signed on its behalf by:
Mr CP Bellamy
Director
Company registration number 06927618 (England and Wales)
CAXTON BUILDERS (MIDLANDS) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Caxton Builders (Midlands) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 36 Raymond Street, Shelton, Stoke-on-Trent, Staffordshire, ST1 4DP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Caxton Midlands Group Limited. These consolidated financial statements are available from the registered office, 36 Raymond Street Shelton, Stoke-on-Trent, Staffordshire, ST1 4DP.

1.2
Going concern

Attrue the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Reporting period

During the period, the company changed its accounting reference date from 30 November to 31 December. As a result, the current financial statements report on a 13-month period from 1 December 2023 to 31 December 2024, whereas the comparative figures represent a 12-month period ended 30 November 2023.

 

Accordingly, the profit and loss account for the current period reflect 13 months of trading activity, and are therefore not directly comparable with the prior year figures.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for work done in respect of construction contracts, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts and settlement discounts.

CAXTON BUILDERS (MIDLANDS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
33% straight line
Motor vehicles
25% reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.8
Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

 

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

 

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

 

 

CAXTON BUILDERS (MIDLANDS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.9
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

CAXTON BUILDERS (MIDLANDS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised 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 calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

CAXTON BUILDERS (MIDLANDS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

 

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2023
Number
Number
41
41
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2023
209,759
102,409
68,513
380,681
Additions
45,060
27,041
-
0
72,101
Disposals
(61,136)
-
0
(31,256)
(92,392)
At 31 December 2024
193,683
129,450
37,257
360,390
Depreciation and impairment
At 1 December 2023
99,372
73,893
38,336
211,601
Depreciation charged in the period
32,570
21,779
6,057
60,406
Eliminated in respect of disposals
(43,376)
-
0
(18,560)
(61,936)
At 31 December 2024
88,566
95,672
25,833
210,071
Carrying amount
At 31 December 2024
105,117
33,778
11,424
150,319
At 30 November 2023
110,387
28,516
30,177
169,080
CAXTON BUILDERS (MIDLANDS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,941,211
2,061,794
Amounts owed by group undertakings
3,135,598
1,898,075
Other debtors
489,559
672,001
5,566,368
4,631,870
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
8
204,498
472,717
Obligations under finance leases
28,168
32,314
Trade creditors
2,702,879
2,008,659
Corporation tax
165,972
149,669
Other taxation and social security
144,932
132,273
Other creditors
37,173
290,280
Accruals and deferred income
449,676
68,877
3,733,298
3,154,789
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
8
86,534
344,738
Obligations under finance leases
34,766
40,378
121,300
385,116

Obligations under finance leases are secured on the assets to which they relate.

8
Loans and overdrafts
2024
2023
£
£
Bank loans
291,032
512,568
Bank overdrafts
-
0
304,887
291,032
817,455
Payable within one year
204,498
472,717
Payable after one year
86,534
344,738
CAXTON BUILDERS (MIDLANDS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
8
Loans and overdrafts
(Continued)
- 8 -

Bank loans are secured by an unlimited debenture on the assets of the company and by an unlimited debenture on the assets of fellow group undertaking Caxton Property Developments Limited. The bank loans are repayable by instalments.

The overdraft is secured on the trade debtors of the company under a debt factoring arrangement.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Karen Staley FCA BSc (Hons)
Statutory Auditor:
Geens Limited
Date of audit report:
24 July 2025
10
Related party transactions
Transactions with related parties

The company has taken advantage of the exemption in FRS 102 from the requirement to disclose transactions with the parent company and wholly owned group subsidiary companies on the grounds that consolidated financial statements are prepared by the parent company.

 

Transactions and balances with related parties include the following:

 

Caxton Distribution Limited is a company controlled by the directors of Caxton Builders (Midlands) Limited:

 

Stofix UK Limited is a company controlled by the directors of Caxton Builders (Midlands) Limited.

 

Caxton Mechanical & Engineering Limited is a company which a director of Caxton Builders (Midlands) Limited exercises significant influence.

 

All amounts owed are payable on demand and no interest is charged.

 

 

CAXTON BUILDERS (MIDLANDS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 9 -
11
Parent company

The immediate and ultimate parent company is Caxton Midlands Group Limited a company registered in England. Caxton Builders (Midlands) Limited is included in the group accounts of Caxton Midlands Group Limited, which are available from the registered office address:

 

36 Raymond Street

Shelton

Stoke-on-Trent

Staffordshire

ST1 4DP

 

The company is controlled by company director, John Webber, who is the majority shareholder of Caxton Midlands Group Limited.

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