Cambium Construction Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 11801129 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2022

for

Cambium Construction Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Pratt

REGISTERED OFFICE:

Wayfarers Barn

Abbotstone Road

Fobdow

Alresford

Hampshire

SO24 9TD

REGISTERED NUMBER:

11801129 (England and Wales)

ACCOUNTANTS:

Butler & Co Alresford Limited

Chartered Accountants

Bennett House

The Dean

Alresford

Hampshire

SO24 9BH

FIXED ASSETS

Tangible assets

4

3,220

4,222

CURRENT ASSETS

Stocks

1,727,104

519,685

Debtors

5

83,223

35,682

Cash at bank

5,636

25,286

1,815,963

580,653

CREDITORS

Amounts falling due within one year

6

1,821,327

541,250

NET CURRENT (LIABILITIES)/ASSETS

(5,364

)

39,403

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,144

)

43,625

CREDITORS

Amounts falling due after more than one year

7

36,667

46,857

NET LIABILITIES

(38,811

)

(3,232

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

(38,911

)

(3,332

)

SHAREHOLDERS' DEFICIT

(38,811

)

(3,232

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 November 2022 and were signed by:

M Pratt - Director

1.	STATUTORY INFORMATION

Cambium Construction 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The director has undertaken a review of the anticipated future income and expenses and believes there is sufficient evidence to justify the decision to prepare the accounts on a going concern basis and the company will be able to meet its liabilities and any commitments which will fall due in the twelve months from the date these financial statements are approved.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% reducing balance basis

Computer equipment

-

25% on cost

Government grants

Government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value and includes cost of land, materials, direct labour and construction overheads appropriate to the relevant stage of construction.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

3.

EMPLOYEES

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 March 2021

and 28 February 2022

3,800

1,576

5,376

DEPRECIATION

At 1 March 2021

760

394

1,154

Charge for year

608

394

1,002

At 28 February 2022

1,368

788

2,156

NET BOOK VALUE

At 28 February 2022

2,432

788

3,220

At 28 February 2021

3,040

1,182

4,222

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

83,223

35,682

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

10,000

3,143

Other creditors

1,811,327

538,107

1,821,327

541,250

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

36,667

46,857

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

7,033

8.	DEFERRED TAX

£

Balance at 1 March 2021

(1,620

)

Accelerated capital allowances

612

Unrelieved trading losses

(2,383

)

Balance at 28 February 2022

(3,391

)

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100

10.	RELATED PARTY DISCLOSURES

The intercompany loans are unsecured and have been facilitated from companies under the common control of a director. The loans are on an arms-length basis and are unsecured.

A project has is being undertaken on an arms-length basis with a related party. The director has confirmed this project has not yet been completed.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Cambium (Holdings) Limited.

The ultimate controlling party is M Pratt.

12.	IMPACT OF COVID-19

The director has considered the impact of the COVID-19 pandemic on the company and whilst generally detrimental, it has not affected the company's ability to continue in operational existence.