Catfoss Cabin Hire Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08326596 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Catfoss Cabin Hire Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B. Foreman

Mrs. R. P. Foreman

REGISTERED OFFICE:

Rasher House

Catfoss Lane

Brandesburton

Driffield

East Yorkshire

YO25 8EJ

REGISTERED NUMBER:

08326596 (England and Wales)

ACCOUNTANTS:

ESR Accountancy

Suite C

The Hall

Lairgate

Beverley

East Yorkshire

HU17 8HL

BANKERS:

HSBC Bank plc

Humber Commercial Centre

Merit House

Priory Park West

Hessle

East Yorkshire

HU13 9PB

FIXED ASSETS

Tangible assets

4

3,963,148

4,137,811

CURRENT ASSETS

Debtors

5

489,828

673,587

Cash at bank

28,553

191,315

518,381

864,902

CREDITORS

Amounts falling due within one year

6

1,856,842

1,640,601

NET CURRENT LIABILITIES

(1,338,461

)

(775,699

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,624,687

3,362,112

CREDITORS

Amounts falling due after more than one year

7

2,335,604

2,756,399

NET ASSETS

289,083

605,713

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

9

618,815

621,907

Capital contribution reserve

650,000

650,000

Retained earnings

(979,734

)

(666,196

)

SHAREHOLDERS' FUNDS

289,083

605,713

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2020 and were signed on its behalf by:

B. Foreman - Director

1.	STATUTORY INFORMATION

Catfoss Cabin Hire Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land

-

20% on cost

Plant and machinery etc

-

50% on cost, 25% on cost, 20% on cost, 10% on cost and not provided

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.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Hire purchase and leasing commitments

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2018 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

Computer

leasehold

property

machinery

equipment

Totals

£

£

£

£

£

COST

At 1 January 2019

3,572

130,300

4,771,942

72,674

4,978,488

Additions

-

-

310,740

1,056

311,796

Disposals

-

-

(182,021

)

-

(182,021

)

At 31 December 2019

3,572

130,300

4,900,661

73,730

5,108,263

DEPRECIATION

At 1 January 2019

2,262

48,696

761,142

28,577

840,677

Charge for year

714

19,263

275,874

15,620

311,471

Eliminated on disposal

-

-

(7,033

)

-

(7,033

)

At 31 December 2019

2,976

67,959

1,029,983

44,197

1,145,115

NET BOOK VALUE

At 31 December 2019

596

62,341

3,870,678

29,533

3,963,148

At 31 December 2018

1,310

81,604

4,010,800

44,097

4,137,811

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 January 2019

4,666,657

Additions

208,187

Disposals

(84,885

)

At 31 December 2019

4,789,959

DEPRECIATION

At 1 January 2019

677,887

Charge for year

261,830

Eliminated on disposal

(4,454

)

At 31 December 2019

935,263

NET BOOK VALUE

At 31 December 2019

3,854,696

At 31 December 2018

3,988,770

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

180,776

355,283

Amounts owed by group undertakings

297,991

292,990

Prepayments

11,061

25,314

489,828

673,587

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Shareholders loans

51,000

51,000

Hire purchase contracts

420,795

375,487

Trade creditors

101,836

192,783

Factoring account

1,521

179,403

Amounts owed to group undertakings

1,180,100

718,090

Social security and other taxes

21,336

24,896

VAT

50,925

39,487

Accrued expenses

29,329

59,455

1,856,842

1,640,601

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.19

31.12.18

£

£

Hire purchase contracts

2,335,604

2,756,399

Amounts falling due in more than five years:

Repayable by instalments

Hire purchase

116,463

770,199

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.19

31.12.18

£

£

Factoring

1,521

179,403

Hire purchase contracts

2,756,399

3,131,886

2,757,920

3,311,289

The factoring facility provided by Reward Capital and the Loan facility provided by Close are secured via a

debenture creating a fixed and floating charge over the company's assets.

The obligations due under hire purchase contracts are secured against specific assets plus a debenture

creating a fixed and floating charge over the company's assets.

Director Ben Foreman has director guarantees in place for both the Reward Capital factoring facility and the

Loan facility with Close at the year end.

9.

RESERVES

Revaluation

reserve

£

At 1 January 2019

621,907

Revaluation applicable to disposals

(3,092

)

At 31 December 2019

618,815

10.	ULTIMATE CONTROLLING PARTY