Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-31true12false2024-04-01falseNo description of principal activity14falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02747361 2024-04-01 2025-03-31 02747361 2023-04-01 2024-03-31 02747361 2025-03-31 02747361 2024-03-31 02747361 c:Director2 2024-04-01 2025-03-31 02747361 c:Director3 2024-04-01 2025-03-31 02747361 d:Buildings d:ShortLeaseholdAssets 2024-04-01 2025-03-31 02747361 d:Buildings d:ShortLeaseholdAssets 2025-03-31 02747361 d:Buildings d:ShortLeaseholdAssets 2024-03-31 02747361 d:PlantMachinery 2024-04-01 2025-03-31 02747361 d:PlantMachinery 2025-03-31 02747361 d:PlantMachinery 2024-03-31 02747361 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 02747361 d:MotorVehicles 2024-04-01 2025-03-31 02747361 d:MotorVehicles 2025-03-31 02747361 d:MotorVehicles 2024-03-31 02747361 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 02747361 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 02747361 d:CurrentFinancialInstruments 2025-03-31 02747361 d:CurrentFinancialInstruments 2024-03-31 02747361 d:Non-currentFinancialInstruments 2025-03-31 02747361 d:Non-currentFinancialInstruments 2024-03-31 02747361 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 02747361 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 02747361 d:Non-currentFinancialInstruments d:AfterOneYear 2025-03-31 02747361 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 02747361 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2025-03-31 02747361 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 02747361 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2025-03-31 02747361 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 02747361 d:ShareCapital 2025-03-31 02747361 d:ShareCapital 2024-03-31 02747361 d:CapitalRedemptionReserve 2025-03-31 02747361 d:CapitalRedemptionReserve 2024-03-31 02747361 d:RetainedEarningsAccumulatedLosses 2025-03-31 02747361 d:RetainedEarningsAccumulatedLosses 2024-03-31 02747361 c:FRS102 2024-04-01 2025-03-31 02747361 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 02747361 c:FullAccounts 2024-04-01 2025-03-31 02747361 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 02747361 d:WithinOneYear 2025-03-31 02747361 d:WithinOneYear 2024-03-31 02747361 2 2024-04-01 2025-03-31 02747361 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: 02747361









CONNAUGHT ACCESS FLOORING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

 
CONNAUGHT ACCESS FLOORING LIMITED
REGISTERED NUMBER: 02747361

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
53,227
64,238

Current assets
  

Stocks
  
281,849
260,415

Debtors: amounts falling due within one year
 5 
5,707,441
6,565,187

Cash at bank and in hand
  
503,646
940,222

  
6,492,936
7,765,824

Creditors: amounts falling due within one year
 6 
(1,082,122)
(3,032,501)

Net current assets
  
 
 
5,410,814
 
 
4,733,323

Total assets less current liabilities
  
5,464,041
4,797,561

Creditors: amounts falling due after more than one year
 7 
-
(191,669)

  

Net assets
  
5,464,041
4,605,892


Capital and reserves
  

Called up share capital 
  
500
500

Capital redemption reserve
  
500
500

Profit and loss account
  
5,463,041
4,604,892

  
5,464,041
4,605,892


Page 1

 
CONNAUGHT ACCESS FLOORING LIMITED
REGISTERED NUMBER: 02747361
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 July 2025.




P de Ste Croix
B Hope
Director
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CONNAUGHT ACCESS FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Connaught Access Flooring Limited (the 'Company') is a private company limited by shares and incorporated in England and Wales. The Company's principal business is that of a specialist flooring contractor. The Company's registered office is located at Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. In making their assessment the directors have prepared and reviewed the Company's cashflow forecast for the next 12 months and based on this have concluded that the Company has adequate resources to meet its obligations. 

 
2.3

Revenue

Revenue is stated exclusive of VAT and consists of sales to third parties. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.
Retentions are progress billings that are retained by the customer until certain conditions are met. Once those conditions are met, the customer pays the retention. Retentions are included in Revenue in the Statement of Comprehensive Income and any outstanding balance at the year end is included in the balance sheet under Debtors.
Revenue relating to contracts includes the amount initially agreed in the contract plus any variations in contract work and incentive payments to the extent that it is probable they will result in revenue and can be reliably measured. As soon as the outcome of the contract can be measured reliably, revenue and expense is recognised in the Statement of Comprehensive Income on a stage of completion basis. The stage of completion is determined by reference to a survey of work performed. Any losses are recognised immediately in the Statement of Comprehensive Income as soon as they are foreseen. 
Construction revenue
Contract revenues are recognised using the percentage of completion basis determined by reference to work performed. Customer advances and billings in excess of costs and estimated profits on contracts in progress are shown as liabilities. Losses, if any, are provided for in full as soon as they are anticipated. The percentage of completion method necessarily requires the use of estimates to determine the recorded amount of revenues and contracts in progress. Given this estimation process, it is reasonably possible that changes in future conditions could require a change in the recognised amount of revenue and contracts in progress.
Amounts recoverable on long-term contracts, as shown within debtors, are amounts that have not
yet been invoiced and are stated net of discounts.

Page 3

 
CONNAUGHT ACCESS FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


Page 4

 
CONNAUGHT ACCESS FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.10

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 management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Leasehold improvements
-
Over the length of the lease
Plant and equipment
-
20% to 25% per annum straight line
Motor vehicles
-
20% per annum straight line

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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of income and retained earnings.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
CONNAUGHT ACCESS FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2025
        2024
            No.
            No.







Administration
4
4



Cost of sales
7
5



Management
3
3

14
12

Page 6

 
CONNAUGHT ACCESS FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Tangible fixed assets





Leasehold improv'ments
Plant and equipment
Motor vehicles
Total

£
£
£
£



Cost


At 1 April 2024
122,764
107,273
77,974
308,011


Additions
-
9,781
-
9,781



At 31 March 2025

122,764
117,054
77,974
317,792



Depreciation


At 1 April 2024
121,404
89,717
32,652
243,773


Charge for the year on owned assets
272
8,450
12,070
20,792



At 31 March 2025

121,676
98,167
44,722
264,565



Net book value



At 31 March 2025
1,088
18,887
33,252
53,227



At 31 March 2024
1,360
17,556
45,322
64,238


5.


Debtors

2025
2024
£
£


Trade debtors
492,862
1,098,183

Amounts owed by group undertakings
4,738,125
2,298,125

Other debtors
142,400
2,622,901

Prepayments
87,459
48,136

Amounts recoverable on long term contracts
246,595
497,842

5,707,441
6,565,187


Page 7

 
CONNAUGHT ACCESS FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loans
-
100,000

Trade creditors
365,634
708,659

Amounts owed to group undertakings
18,735
18,735

Corporation tax
373,610
365,681

Other taxation and social security
80,168
40,070

Other creditors
13,229
4,701

Accruals
230,746
1,794,655

1,082,122
3,032,501



7.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
-
191,669



8.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Bank loans
-
100,000

Amounts falling due 1-2 years

Bank loans
-
100,000

Amounts falling due 2-5 years

Bank loans
-
91,669


-
291,669


Interest on the loan is charged at 4.74% above base rate. Repayments are payable over 59 months starting from the 13th month following the facility drawdown. 
A director provided a £50,000 personal guarantee against bank loans amounting to £500,000. 
The loan was repaid during the current year. 

Page 8

 
CONNAUGHT ACCESS FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £13,070 (2024 - £40,673). Contributions totalling £5,652 (2024 - £4,701) were payable to the fund at the balance sheet date and are included in creditors.


10.


Commitments under operating leases

At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Not later than 1 year
18,000
18,000

18,000
18,000


11.


Related party transactions

At the year end, the company was owed £4,738,125 (2024 - £2,298,225) by group companies.
At the year end, the company owed £18,735 
(2024 - £18,735) to group companies.
At the year end, an amount of £Nil 
(2024 - £2,035,105) was owed by a director.


12.


Controlling party

The immediate holding company is Connaught Access Flooring Holdings Limited and the ultimate holding company is C.A.F Group Holdings Limited.

 
Page 9