REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2022 |
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CABLE ROAD CONTAINERS LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2022 |
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FOR |
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CABLE ROAD CONTAINERS LTD |
CABLE ROAD CONTAINERS LTD (REGISTERED NUMBER: SC447988) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 August 2022 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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CABLE ROAD CONTAINERS LTD |
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COMPANY INFORMATION |
for the year ended 31 August 2022 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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CABLE ROAD CONTAINERS LTD (REGISTERED NUMBER: SC447988) |
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STATEMENT OF FINANCIAL POSITION |
31 August 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Non distributable reserve |
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Retained earnings |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
CABLE ROAD CONTAINERS LTD (REGISTERED NUMBER: SC447988) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 August 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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CABLE ROAD CONTAINERS LTD (REGISTERED NUMBER: SC447988) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 August 2022 |
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1. | STATUTORY INFORMATION |
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Cable Road Containers Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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At 31 August 2022, the company had net current liabilities of £70,013 (2021 - £48,988) The company relies on the continued support of the director to finance its short term working capital requirements. The director considers it appropriate to prepare the statements on a going concern basis as he expects that this support will continue for the foreseeable future. |
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TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates in relation to rental of containers. |
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TANGIBLE FIXED ASSETS |
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Plant and machinery | - |
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Motor vehicles | - |
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GOVERNMENT GRANTS |
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate. Job Retention Scheme grants relates to staff that have been furloughed due to the COVID-19 pandemic. The Small Business grants relates to assistance with business costs due to the COVID-19 pandemic. |
CABLE ROAD CONTAINERS LTD (REGISTERED NUMBER: SC447988) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2022 |
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2. | ACCOUNTING POLICIES - continued |
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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, loans to related parties and investments in non-puttable ordinary shares. |
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Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. |
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For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract |
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TAXATION |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
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DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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HIRE PURCHASE AND LEASING COMMITMENTS |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
CABLE ROAD CONTAINERS LTD (REGISTERED NUMBER: SC447988) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2022 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 September 2021 |
and 31 August 2022 |
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DEPRECIATION |
At 1 September 2021 |
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Charge for year | ( |
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At 31 August 2022 |
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NET BOOK VALUE |
At 31 August 2022 |
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At 31 August 2021 |
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Plant was revalued in the year ended 31 August 2017 to its open market value by the directors using relevant market evidence available at that time. The directors consider the current carrying value to represent the valuation of the asset category as at the year end date. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts (see note 8) |
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Taxation and social security |
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Other creditors |
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Obligations under finance leases and hire purchase contracts are secured against the related assets. |
CABLE ROAD CONTAINERS LTD (REGISTERED NUMBER: SC447988) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2022 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
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Hire purchase contracts (see note 8) |
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Other creditors |
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Obligations under finance leases and hire purchase contracts are secured against the related assets. |
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8. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2022 | 2021 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable operating | leases |
2022 | 2021 |
£ | £ |
Within one year |
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Between one and five years |
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9. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | 18,084 | 11,098 |
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Deferred |
tax |
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Balance at 1 September 2021 |
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Charge to Income Statement during year |
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Balance at 31 August 2022 |
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CABLE ROAD CONTAINERS LTD (REGISTERED NUMBER: SC447988) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2022 |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 August 2022 and 31 August 2021: |
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2022 | 2021 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Interest of 2% has been charged where the overdrawn loan balance exceeds £10,000. There are no fixed terms of repayment. |