Company registration number 03275056 (England and Wales)
CIVIL ENGINEERING CONTRACTORS ASSOCIATION (SOUTHERN) LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
CIVIL ENGINEERING CONTRACTORS ASSOCIATION (SOUTHERN) LTD
COMPANY INFORMATION
Directors
Mrs S Barratt (Chair)
Mr D Allen
Mr J Breheny
Mr R Clancy
Mr A Cox
Mr B Crofton
Mr T Dodds
Ms A Green
(Appointed 24 March 2022)
Mr J Kinirons
(Appointed 1 December 2022)
Mr A Pritchard
Mr James Tallon
(Appointed 24 March 2022)
Mr Kevin Valentine
(Appointed 24 March 2022)
Company number
03275056
Registered office
Suite 1, 2nd Floor, East Wing
Metro House
Northgate, Chichester
West Sussex
PO19 1BE
Auditor
Bohorun & Co Ltd
6 Howley Park Business Village
Pullan Way
Leeds
LS27 0BZ
CIVIL ENGINEERING CONTRACTORS ASSOCIATION (SOUTHERN) LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
CIVIL ENGINEERING CONTRACTORS ASSOCIATION (SOUTHERN) LTD
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
5
512
682
Current assets
Debtors
6
39,605
39,117
Cash at bank and in hand
558,199
609,870
597,804
648,987
Creditors: amounts falling due within one year
7
(75,741)
(44,862)
Net current assets
522,063
604,125
Net assets
522,575
604,807
Reserves
Income and expenditure account
522,575
604,807
Members' funds
522,575
604,807
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 March 2023 and are signed on its behalf by:
Mrs S Barratt (Chair)
Mr D Allen
Director
Director
Company Registration No. 03275056
CIVIL ENGINEERING CONTRACTORS ASSOCIATION (SOUTHERN) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information
Civil Engineering Contractors Association (Southern) Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Suite 1, 2nd Floor, East Wing, Metro House, Northgate, Chichester, West Sussex, PO19 1BE.
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 amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
1.3
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% of written down value per annum
Computer equipment
1/3 of cost per annum to reduce them to a nominal value
1.4
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of twelve months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
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 statement of financial position 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
CIVIL ENGINEERING CONTRACTORS ASSOCIATION (SOUTHERN) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including trade and other payables are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.6
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income and expenditure 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.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
6
7
CIVIL ENGINEERING CONTRACTORS ASSOCIATION (SOUTHERN) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
4
Taxation
2022
2021
£
£
Current tax
UK corporation tax on profits for the current period
11,300
Adjustments in respect of prior periods
(108)
(49)
Total current tax
(108)
11,251
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022 and 31 December 2022
43,038
Depreciation and impairment
At 1 January 2022
42,356
Depreciation charged in the year
170
At 31 December 2022
42,526
Carrying amount
At 31 December 2022
512
At 31 December 2021
682
6
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
39,605
39,117
7
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
19,963
Corporation tax
11,300
Other taxation and social security
11,430
9,055
Other creditors
44,348
24,507
75,741
44,862
CIVIL ENGINEERING CONTRACTORS ASSOCIATION (SOUTHERN) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
8
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
9
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
D P Bohorun FCCA
Statutory Auditor:
Bohorun & Co Ltd
10
Related party transactions
The Company is a member of the Civil Engineering Contractors Association, to which £195,936 (2021 - £210,155) was paid as a subscription for the year.