10
28/02/2023
2023-02-28
true
false
false
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No description of principal activities is disclosed
2022-03-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
06815179
2022-03-01
2023-02-28
06815179
2023-02-28
06815179
2022-02-28
06815179
2021-03-01
2022-02-28
06815179
2022-02-28
06815179
2021-02-28
06815179
core:LandBuildings
core:LongLeaseholdAssets
2022-03-01
2023-02-28
06815179
core:PlantMachinery
2022-03-01
2023-02-28
06815179
core:FurnitureFittingsToolsEquipment
2022-03-01
2023-02-28
06815179
core:MotorVehicles
2022-03-01
2023-02-28
06815179
bus:Director1
2022-03-01
2023-02-28
06815179
bus:Director2
2022-03-01
2023-02-28
06815179
bus:Director3
2022-03-01
2023-02-28
06815179
core:LandBuildings
core:LongLeaseholdAssets
2022-02-28
06815179
core:PlantMachinery
2022-02-28
06815179
core:FurnitureFittingsToolsEquipment
2022-02-28
06815179
core:MotorVehicles
2022-02-28
06815179
core:LandBuildings
core:LongLeaseholdAssets
2023-02-28
06815179
core:PlantMachinery
2023-02-28
06815179
core:FurnitureFittingsToolsEquipment
2023-02-28
06815179
core:MotorVehicles
2023-02-28
06815179
core:WithinOneYear
2023-02-28
06815179
core:WithinOneYear
2022-02-28
06815179
core:AfterOneYear
2022-02-28
06815179
core:LandBuildings
core:LongLeaseholdAssets
2022-02-28
06815179
core:ShareCapital
2023-02-28
06815179
core:ShareCapital
2022-02-28
06815179
core:HedgingReserve
2023-02-28
06815179
core:HedgingReserve
2022-02-28
06815179
core:RetainedEarningsAccumulatedLosses
2023-02-28
06815179
core:RetainedEarningsAccumulatedLosses
2022-02-28
06815179
core:HedgingReserve
2022-02-28
06815179
core:HedgingReserve
2021-02-28
06815179
core:HedgingReserve
2021-03-01
2022-02-28
06815179
core:PlantMachinery
2022-02-28
06815179
core:FurnitureFittingsToolsEquipment
2022-02-28
06815179
core:MotorVehicles
2022-02-28
06815179
bus:Director1
2022-02-28
06815179
bus:Director1
2023-02-28
06815179
bus:Director2
2022-02-28
06815179
bus:Director2
2023-02-28
06815179
bus:Director3
2022-02-28
06815179
bus:Director3
2023-02-28
06815179
bus:Director1
2021-02-28
06815179
bus:Director1
2022-02-28
06815179
bus:Director2
2021-02-28
06815179
bus:Director2
2022-02-28
06815179
bus:Director3
2021-02-28
06815179
bus:Director3
2022-02-28
06815179
bus:Director1
2021-03-01
2022-02-28
06815179
bus:Director2
2021-03-01
2022-02-28
06815179
bus:Director3
2021-03-01
2022-02-28
06815179
bus:SmallEntities
2022-03-01
2023-02-28
06815179
bus:AuditExempt-NoAccountantsReport
2022-03-01
2023-02-28
06815179
bus:FullAccounts
2022-03-01
2023-02-28
06815179
bus:SmallCompaniesRegimeForAccounts
2022-03-01
2023-02-28
06815179
bus:PrivateLimitedCompanyLtd
2022-03-01
2023-02-28
06815179
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-03-01
2023-02-28
06815179
core:InvestmentPropertiesRevaluationReserve
2022-02-28
06815179
core:InvestmentPropertiesRevaluationReserve
2021-02-28
06815179
core:InvestmentPropertiesRevaluationReserve
2021-03-01
2022-02-28
06815179
core:InvestmentPropertiesRevaluationReserve
2023-02-28
06815179
1
2022-03-01
2023-02-28
COUNTY BUILDING SERVICES LIMITED
Unaudited filleted financial statements
28 February 2023
Company registration number
06815179
COUNTY BUILDING SERVICES LIMITED
Contents
Statement of financial position
Notes to the financial statements
COUNTY BUILDING SERVICES LIMITED
Statement of financial position
28 February 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
1,076,781 |
|
|
|
1,225,696 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
1,076,781 |
|
|
|
1,225,696 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
17,830 |
|
|
|
16,275 |
|
|
Debtors |
|
6 |
1,929,610 |
|
|
|
1,888,340 |
|
|
Cash at bank and in hand |
|
|
2,364,423 |
|
|
|
2,502,749 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
4,311,863 |
|
|
|
4,407,364 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
787,282) |
|
|
|
(
806,412) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
3,524,581 |
|
|
|
3,600,952 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
4,601,362 |
|
|
|
4,826,648 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
8 |
|
|
- |
|
|
|
(
286,713) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
127,799) |
|
|
|
(
162,711) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
4,473,563 |
|
|
|
4,377,224 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
104 |
|
|
|
104 |
Fair value reserve |
|
|
|
|
53,681 |
|
|
|
53,681 |
Profit and loss account |
|
|
|
|
4,419,778 |
|
|
|
4,323,439 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
4,473,563 |
|
|
|
4,377,224 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 28 February 2023 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
27 July 2023
, and are signed on behalf of the board by:
Mr M P Killick
Director
Company registration number:
06815179
COUNTY BUILDING SERVICES LIMITED
Notes to the financial statements
Year ended 28 February 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Poplar Farm, Ivychurch, New Romney, Kent, TN29 0AU.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These financial statements have been prepared on the going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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 measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Investment property |
- |
Investment properties are depreciated on a straight line over
50 years to net realisable value
|
|
|
Long leasehold property |
- |
1 % |
straight line |
|
Plant and machinery |
- |
20 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
20 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
10
(2022:
10
).
5.
Tangible assets
|
|
Long leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 March 2022 |
626,879 |
197,532 |
89,087 |
776,282 |
1,689,780 |
|
|
|
Additions |
- |
- |
- |
36,418 |
36,418 |
|
|
|
Disposals |
- |
- |
(
6,525) |
(
109,420) |
(
115,945) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 28 February 2023 |
626,879 |
197,532 |
82,562 |
703,280 |
1,610,253 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 March 2022 |
4,869 |
35,504 |
16,878 |
406,833 |
464,084 |
|
|
|
Charge for the year |
4,869 |
32,406 |
14,219 |
90,805 |
142,299 |
|
|
|
Disposals |
- |
- |
(
5,410) |
(
67,501) |
(
72,911) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 28 February 2023 |
9,738 |
67,910 |
25,687 |
430,137 |
533,472 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 28 February 2023 |
617,141 |
129,622 |
56,875 |
273,143 |
1,076,781 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 28 February 2022 |
622,010 |
162,028 |
72,209 |
369,449 |
1,225,696 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
Investment property
Included within the above is investment property measured at fair value as follows:
|
|
£ |
|
At 1 March 2022 and 28 February 2023 |
140,000 |
|
|
_______ |
|
|
|
At the year end investment properties have been valued by the directors of the company using market conditions. No independent professional valuation has been undertaken
.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
|
|
|
|
|
|
|
|
|
|
|
Long leasehold property |
Total |
|
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
|
At 28 February 2023 |
|
|
|
|
|
|
|
|
Aggregate cost |
555,305 |
555,305 |
|
|
|
|
|
|
Aggregate depreciation |
(9,738) |
(9,738) |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Carrying amount |
545,567 |
545,567 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 28 February 2022 |
|
|
|
|
|
|
|
|
Aggregate cost |
555,305 |
555,305 |
|
|
|
|
|
|
Aggregate depreciation |
(4,869) |
(4,869) |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Carrying amount |
550,436 |
550,436 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
733,908 |
729,282 |
|
Other debtors |
|
1,195,702 |
1,159,058 |
|
|
|
_______ |
_______ |
|
|
|
1,929,610 |
1,888,340 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
- |
31,308 |
|
Trade creditors |
|
377,095 |
377,050 |
|
Corporation tax |
|
305,237 |
246,724 |
|
Social security and other taxes |
|
29,942 |
32,472 |
|
Other creditors |
|
75,008 |
118,858 |
|
|
|
_______ |
_______ |
|
|
|
787,282 |
806,412 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
- |
278,931 |
|
Other creditors |
|
- |
7,782 |
|
|
|
_______ |
_______ |
|
|
|
- |
286,713 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The bank loan was secured via a charge held by the Bank over the freehold property of the company.
Included within creditors: amounts falling due after more than one year is an amount of £ -
(2022 £ 144,518 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The loan was settled during this financial year.
9.
Fair value reserve
Included within other reserves is the fair value reserve as follows:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
At start of year |
|
53,681 |
45,825 |
|
Reclassification from fair value reserve to profit and loss account |
|
- |
7,856 |
|
|
|
_______ |
_______ |
|
At end of year |
|
53,681 |
53,681 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr M P Killick |
25,294 |
(
706) |
(
25,294) |
(
706) |
|
|
|
Mr S Killick |
(
1) |
(
3,250) |
- |
(
3,251) |
|
|
|
Mr B Killick |
(
467) |
(
3,250) |
- |
(
3,717) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
24,826 |
(
7,206) |
(
25,294) |
(
7,674) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr M P Killick |
(
413,259) |
- |
438,553 |
25,294 |
|
|
|
Mr S Killick |
10,267 |
- |
(
10,268) |
(
1) |
|
|
|
Mr B Killick |
583 |
- |
(
1,050) |
(
467) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
(
402,409) |
- |
427,235 |
24,826 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
Balances between the company and the directors are interest free, unsecured and repayable on demand.
11.
Controlling party
The company is controlled by the director,
Mr M.P. Killick
, the majority shareholder.