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Registration number: 08787467

Corvus Building Solutions Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Corvus Building Solutions Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Corvus Building Solutions Ltd

Company Information

Directors

D. J. Mulligan

J. A. Mulligan

Registered office

Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

Accountants

Robert Whowell & Partners LLP
Chartered AccountantsWestwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

 

Corvus Building Solutions Ltd

(Registration number: 08787467)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

153,925

165,837

Current assets

 

Stocks

6

195,000

235,642

Debtors

7

525,899

635,742

Cash at bank and in hand

 

1,113,339

639,895

 

1,834,238

1,511,279

Creditors: Amounts falling due within one year

8

(709,268)

(489,223)

Net current assets

 

1,124,970

1,022,056

Total assets less current liabilities

 

1,278,895

1,187,893

Provisions for liabilities

(25,318)

(41,459)

Net assets

 

1,253,577

1,146,434

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

1,253,477

1,146,334

Shareholders' funds

 

1,253,577

1,146,434

 

Corvus Building Solutions Ltd

(Registration number: 08787467)
Balance Sheet as at 30 November 2024

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 August 2025 and signed on its behalf by:
 

.........................................
D. J. Mulligan
Director

 

Corvus Building Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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:
Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

These financial statements were authorised for issue by the Board on 28 August 2025.

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.

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 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

 

Corvus Building Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33.33% straight line

Motor vehicles

25% reducing balance

Plant and machinery

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

 

Corvus Building Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

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 debtors.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of stock and work in progress 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. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in the profit and loss account.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

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 the profit and loss account on a straight-line basis over the period of the lease.

 

Corvus Building Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 13).

4

Intangible assets

Goodwill
 £

Total
£

Cost

At 1 December 2023

10,000

10,000

At 30 November 2024

10,000

10,000

Amortisation

At 1 December 2023

10,000

10,000

At 30 November 2024

10,000

10,000

Carrying amount

At 30 November 2024

-

-

At 30 November 2023

-

-

 

Corvus Building Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Tangible assets

Office equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost

At 1 December 2023

26,591

233,657

20,947

281,195

Additions

2,327

56,014

1,165

59,506

Disposals

(5,074)

(56,655)

-

(61,729)

At 30 November 2024

23,844

233,016

22,112

278,972

Depreciation

At 1 December 2023

18,548

84,636

12,174

115,358

Charge for the year

3,801

29,467

2,255

35,523

Eliminated on disposal

(4,998)

(20,836)

-

(25,834)

At 30 November 2024

17,351

93,267

14,429

125,047

Carrying amount

At 30 November 2024

6,493

139,749

7,683

153,925

At 30 November 2023

8,043

149,019

8,775

165,837

6

Stocks

2024
£

2023
£

Work in progress

175,000

210,642

Stocks

20,000

25,000

195,000

235,642

 

Corvus Building Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

432,778

511,995

Prepayments

18,018

55,979

Other debtors

75,103

67,768

 

525,899

635,742

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

339,277

202,846

Taxation and social security

351,083

262,885

Accruals and deferred income

3,871

3,874

Other creditors

15,037

19,618

709,268

489,223

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Corvus Building Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

10

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2024
£

J. A. Mulligan

Directors' loan account

46,425

147,921

(148,520)

45,826

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

J. A. Mulligan

Directors' loan account

37,945

137,000

(128,520)

46,425

During the year the directors received dividends of £148,000. (2023 - £128,000)

During the year rent amounting to £37,500 was paid to the company pension scheme, of which the directors are beneficiaries. (2023 - £37,500)

The company authorised an unsecured, interest-free loan to the directors and a balance of £45,826 was outstanding at the year end (2023 - £46,425). This was repaid on 30 April 2025.