Company registration number 04107089 (England and Wales)
CURRALL LEWIS & MARTIN (CONSTRUCTION) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CURRALL LEWIS & MARTIN (CONSTRUCTION) LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
CURRALL LEWIS & MARTIN (CONSTRUCTION) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
481,842
461,260
Current assets
Debtors
5
961,286
1,188,760
Cash at bank and in hand
908,478
1,077,975
1,869,764
2,266,735
Creditors: amounts falling due within one year
6
(1,046,592)
(1,421,531)
Net current assets
823,172
845,204
Total assets less current liabilities
1,305,014
1,306,464
Provisions for liabilities
8
(56,230)
(67,525)
Net assets
1,248,784
1,238,939
Capital and reserves
Called up share capital
9
250
250
Revaluation reserve
126,058
131,642
Capital redemption reserve
150
150
Profit and loss reserves
1,122,326
1,106,897
Total equity
1,248,784
1,238,939
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 income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 25 July 2025 and are signed on its behalf by:
Mr R D Pinfield
Director
Company registration number 04107089 (England and Wales)
CURRALL LEWIS & MARTIN (CONSTRUCTION) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 January 2023
250
75,392
150
1,808,917
1,884,709
Year ended 31 December 2023:
Loss
-
-
-
(524,643)
(524,643)
Other comprehensive income:
Revaluation of tangible fixed assets
-
75,000
-
-
75,000
Tax relating to other comprehensive income
-
(18,750)
-
(18,750)
Total comprehensive income
-
56,250
-
(524,643)
(468,393)
Dividends
-
-
-
(177,377)
(177,377)
Balance at 31 December 2023
250
131,642
150
1,106,897
1,238,939
Year ended 31 December 2024:
Profit
-
-
-
205,341
205,341
Other comprehensive income:
Tax relating to other comprehensive income
-
(5,584)
-
(5,584)
Total comprehensive income
-
(5,584)
-
205,341
199,757
Dividends
-
-
-
(189,912)
(189,912)
Balance at 31 December 2024
250
126,058
150
1,122,326
1,248,784
CURRALL LEWIS & MARTIN (CONSTRUCTION) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Currall Lewis & Martin (Construction) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
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 £.
1.2
Going concern
After making enquiries and reviewing successful contract tenders starting within one year from the date the financial statements are signed the Directors have formed a judgement that, as at the date of approving the financial statements, there is a reasonable expectation that the Company has adequate resources to continue in existence for the foreseeable future.true
In making this assessment the Board of Directors has undertaken a thorough review of contracts under way and start date and timing of new contracts. They have also considered potential impacts of current uncertainties in the wider economy.
This review demonstrates that the group has sufficient working capital for the foreseeable future. In light of the assessment, the directors remain of the view that the Company will be able to operate and meet its liabilities as they fall due for payment throughout the year. The financial statements have accordingly been prepared on a going concern basis.
1.3
Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as the proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Full provision is made for the losses on all contracts in the year in which they are first foreseen.
1.4
Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by the management.
The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
CURRALL LEWIS & MARTIN (CONSTRUCTION) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
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:
Freehold land and buildings
open market value
Plant and equipment
33% on cost
Fixtures and fittings
33% on cost
Computers
33% on cost
Motor vehicles
33% on cost
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.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Assets held under finance leases are depreciated over the life of the lease.
1.5
Cash and cash equivalents
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.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
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.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.
1.7
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
CURRALL LEWIS & MARTIN (CONSTRUCTION) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.8
Leases
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
1.9
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
1.10
Amounts recoverable on long term contracts, which are included in debtors are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.
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.
Critical judgements
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Property valuation
The company's freehold properties are held at their valuation, taking into account the most reliable evidence at each reporting date. The details of any such valuation is shown in note 5 to these financial statements. The total revaluation reserve generated from any such revaluations, including the deferred tax consideration on the revaluation is £126,058 (2023 : £131,642), as shown on the balance sheet.
Valuation of work in progress
Work in progress is valued at £612,485 and is presented by both sales and cost provisions within debtors and creditors accordingly. Work in progress for each contract is calculated following a review of after date applications raised.
CURRALL LEWIS & MARTIN (CONSTRUCTION) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
52
49
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost or valuation
At 1 January 2024
425,000
22,396
3,486
48,392
421,130
920,404
Disposals
(33,750)
(33,750)
At 31 December 2024
425,000
22,396
3,486
48,392
387,380
886,654
Depreciation and impairment
At 1 January 2024
22,396
3,486
48,392
384,870
459,144
Depreciation charged in the year
29,451
29,451
Eliminated in respect of disposals
(33,750)
(33,750)
Exceptional depreciation adjustment
(50,033)
(50,033)
At 31 December 2024
22,396
3,486
48,392
330,538
404,812
Carrying amount
At 31 December 2024
425,000
56,842
481,842
At 31 December 2023
425,000
36,260
461,260
Land and buildings with a carrying amount of £425,000 were revalued at 23 February 2024 by Bruton Knowles Limited, independent valuers not connected with the company, on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.
The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:
Freehold land and buildings
2024
2023
£
£
Cost
256,923
256,923
CURRALL LEWIS & MARTIN (CONSTRUCTION) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
710,146
1,099,894
Other debtors
217,445
59,818
Prepayments and accrued income
33,695
29,048
961,286
1,188,760
6
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
7
698
Trade creditors
698,967
944,307
Corporation tax
55,449
14,466
Other taxation and social security
61,689
82,570
Other creditors
144,246
302,164
Accruals and deferred income
86,241
77,326
1,046,592
1,421,531
7
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
698
Hire purchase creditors are secured on the assets to which they relate.
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
56,230
67,525
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
250
250
250
250
CURRALL LEWIS & MARTIN (CONSTRUCTION) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
10
Directors' transactions
Dividends totalling £189,912 (2023 - £177,377) were paid in the year in respect of shares held by the company's directors.
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
K Griffiths
-
611
33,721
(23,031)
11,301
M Daccus
-
6,946
38,714
(23,031)
22,629
R Pinfield
-
4,803
31,875
(23,133)
13,545
12,360
104,310
(69,195)
47,475
11
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:
give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Senior Statutory Auditor:
Mr Alan Jones FCCA
Statutory Auditor:
Sumer Auditco Limited
Date of audit report:
28 July 2025
2024-12-312024-01-01falsefalsefalse28 July 2025CCH SoftwareCCH Accounts Production 2025.200No description of principal activityMr K J GriffithsMr M P DaccusMr R D PinfieldMrs D J Pinfield041070892024-01-012024-12-31041070892024-12-31041070892023-12-3104107089core:LandBuildingscore:OwnedOrFreeholdAssets2024-12-3104107089core:PlantMachinery2024-12-3104107089core:FurnitureFittings2024-12-3104107089core:ComputerEquipment2024-12-3104107089core:MotorVehicles2024-12-3104107089core:LandBuildingscore:OwnedOrFreeholdAssets2023-12-3104107089core:PlantMachinery2023-12-3104107089core:FurnitureFittings2023-12-3104107089core:ComputerEquipment2023-12-3104107089core:MotorVehicles2023-12-3104107089core:CurrentFinancialInstruments2024-12-3104107089core:CurrentFinancialInstruments2023-12-3104107089core:ShareCapital2024-12-3104107089core:ShareCapital2023-12-3104107089core:RevaluationReserve2024-12-3104107089core:RevaluationReserve2023-12-3104107089core:CapitalRedemptionReserve2024-12-3104107089core:CapitalRedemptionReserve2023-12-3104107089core:RetainedEarningsAccumulatedLosses2024-12-3104107089core:RetainedEarningsAccumulatedLosses2023-12-3104107089core:ShareCapital2022-12-3104107089core:RevaluationReserve2022-12-3104107089core:CapitalRedemptionReserve2022-12-3104107089core:RetainedEarningsAccumulatedLosses2022-12-31041070892022-12-3104107089core:ShareCapitalOrdinaryShareClass12024-12-3104107089core:ShareCapitalOrdinaryShareClass12023-12-3104107089bus:Director32024-01-012024-12-3104107089core:RetainedEarningsAccumulatedLosses2023-01-012023-12-31041070892023-01-012023-12-3104107089core:RetainedEarningsAccumulatedLosses2024-01-012024-12-3104107089core:RevaluationReserve2023-01-012023-12-3104107089core:RevaluationReserve2024-01-012024-12-3104107089core:LandBuildingscore:OwnedOrFreeholdAssets2024-01-012024-12-3104107089core:PlantMachinery2024-01-012024-12-3104107089core:FurnitureFittings2024-01-012024-12-3104107089core:ComputerEquipment2024-01-012024-12-3104107089core:MotorVehicles2024-01-012024-12-3104107089core:LandBuildingscore:OwnedOrFreeholdAssets2023-12-3104107089core:PlantMachinery2023-12-3104107089core:FurnitureFittings2023-12-3104107089core:ComputerEquipment2023-12-3104107089core:MotorVehicles2023-12-31041070892023-12-3104107089core:WithinOneYear2024-12-3104107089core:WithinOneYear2023-12-3104107089bus:OrdinaryShareClass12024-01-012024-12-3104107089bus:OrdinaryShareClass12024-12-3104107089bus:OrdinaryShareClass12023-12-3104107089bus:Director12023-12-3104107089bus:Director12024-12-3104107089bus:Director22023-12-3104107089bus:Director22024-12-3104107089bus:Director32023-12-3104107089bus:Director32024-12-3104107089bus:Director12024-01-012024-12-3104107089bus:Director22024-01-012024-12-3104107089bus:PrivateLimitedCompanyLtd2024-01-012024-12-3104107089bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3104107089bus:FRS1022024-01-012024-12-3104107089bus:Audited2024-01-012024-12-3104107089bus:CompanySecretary12024-01-012024-12-3104107089bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP