CENTRAL SHROPSHIRE HOLDINGS LTD
Company registration number 09257741 (England and Wales)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
CENTRAL SHROPSHIRE HOLDINGS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
CENTRAL SHROPSHIRE HOLDINGS LTD
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
898,315
877,676
Investments
4
111
111
898,426
877,787
Current assets
Debtors
5
386,738
580,322
Cash at bank and in hand
607,907
844,862
994,645
1,425,184
Creditors: amounts falling due within one year
6
(157,327)
(255,981)
Net current assets
837,318
1,169,203
Total assets less current liabilities
1,735,744
2,046,990
Creditors: amounts falling due after more than one year
7
(225,127)
(241,698)
Provisions for liabilities
(7,562)
(4,744)
Net assets
1,503,055
1,800,548
Capital and reserves
Called up share capital
8
102
102
Profit and loss reserves
1,502,953
1,800,446
Total equity
1,503,055
1,800,548
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CENTRAL SHROPSHIRE HOLDINGS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 14 December 2022 and are signed on its behalf by:
Mr B J Butler
Director
Company Registration No. 09257741
CENTRAL SHROPSHIRE HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Company information
Central Shropshire Holdings Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
1 Brassey Road, Old Potts Way, Shrewsbury, Shropshire, SY3 7FA.
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 a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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 property
No depreciation
Plant and machinery
25% pa reducing balance
Fixtures, fittings & equipment
15% pa reducing balance
Motor vehicles
25% pa reducing balance
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 directors consider that freehold property is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
CENTRAL SHROPSHIRE HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
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.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
CENTRAL SHROPSHIRE HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
2
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2021
623,574
689,875
1,313,449
Additions
167,259
167,259
Disposals
(188,373)
(188,373)
At 31 March 2022
623,574
668,761
1,292,335
Depreciation and impairment
At 1 April 2021
435,773
435,773
Depreciation charged in the year
71,513
71,513
Eliminated in respect of disposals
(113,266)
(113,266)
At 31 March 2022
394,020
394,020
Carrying amount
At 31 March 2022
623,574
274,741
898,315
At 31 March 2021
623,574
254,102
877,676
4
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
111
111
CENTRAL SHROPSHIRE HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 6 -
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
30,139
11,113
Corporation tax recoverable
32,500
32,500
Amounts owed by group undertakings
216,499
129,178
Other debtors
107,600
107,531
386,738
280,322
2022
2021
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
300,000
Total debtors
386,738
580,322
6
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
24,667
24,667
Trade creditors
2,691
380
Corporation tax
69,407
Other taxation and social security
32,603
87,275
Other creditors
97,366
74,252
157,327
255,981
The bank borrowings are secured
against the Company's assets.
7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
225,127
241,698
8
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary Shares of £1 each
100
100
100
100
B Ordinary Share of £1 each
1
1
1
1
C Ordinary Share of £1 each
1
1
1
1
102
102
102
102
CENTRAL SHROPSHIRE HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
8
Called up share capital
(Continued)
- 7 -
The A Ordinary Shares carry full voting and capital distribution rights, as well as dividend rights.
The B Ordinary Share and the C Ordinary Share carry dividend rights only.
Each class of Ordinary Share does not rank pari passu for dividend entitlement purposes.
9
Related party transactions
Transactions with related parties
The following amounts were outstanding at the reporting end date:
Included in debtors is a balance of £
2
1
6,499
(202
1
: £
429,178
) owed by the subsidiary Butler Groundworks Limited. No interest is paid on this amount.