Registered number
08640201
CG Building and Restoration Ltd
Filleted Accounts
31 December 2024
CG Building and Restoration Ltd
Registered number: 08640201
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 73,282 87,390
Current assets
Debtors 4 464,057 420,502
Cash at bank and in hand 104,292 111,162
568,349 531,664
Creditors: amounts falling due within one year 5 (588,896) (409,820)
Net current (liabilities)/assets (20,547) 121,844
Total assets less current liabilities 52,735 209,234
Creditors: amounts falling due after more than one year 6 (465) (108,424)
Provisions for liabilities (9,647) (13,174)
Net assets 42,623 87,636
Capital and reserves
Called up share capital 210 210
Profit and loss account 42,413 87,426
Shareholders' funds 42,623 87,636
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Vernon Carter
Director
Approved by the board on 19 September 2025
CG Building and Restoration Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 15% reducing balance
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 16
3 Tangible fixed assets
Computer equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 38,552 52,107 58,447 149,106
Additions 1,858 549 - 2,407
At 31 December 2024 40,410 52,656 58,447 151,513
Depreciation
At 1 January 2024 15,588 18,154 27,974 61,716
Charge for the year 3,723 5,174 7,618 16,515
At 31 December 2024 19,311 23,328 35,592 78,231
Net book value
At 31 December 2024 21,099 29,328 22,855 73,282
At 31 December 2023 22,964 33,953 30,473 87,390
4 Debtors 2024 2023
£ £
Trade debtors 225,966 152,885
Other debtors 238,091 267,617
464,057 420,502
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 110,941 23,011
Obligations under finance lease and hire purchase contracts 2,125 2,125
Trade creditors 205,838 177,924
Taxation and social security costs 122,324 96,837
Other creditors 147,668 109,923
588,896 409,820
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 105,834
Obligations under finance lease and hire purchase contracts 465 2,590
465 108,424
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years - 23,032
8 Related party transactions
As at 31 December 2024, the company owed the directors the sum of £141,553 (2023: £109,925)
9 Other information
CG Building and Restoration Ltd is a private company limited by shares and incorporated in England. Its registered office is:
24 Howe End
Kirkbymoorside
YO62 6BD
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