CASTLEWAY LIMITED - Filleted accounts

Registered number

02975441

CASTLEWAY LIMITED

Filleted Accounts

31 October 2018

CASTLEWAY LIMITED
Registered number:		02975441
Balance Sheet
as at 31 October 2018

Notes			2018			2017
£				£
Fixed assets
Tangible assets	2		39,002			19,893

Current assets
Stocks		5,000			5,000
Debtors	3	60,272			92,951
Cash at bank and in hand		54,508			48,733
		119,780			146,684

Creditors: amounts falling due within one year	4	(94,385)			(107,837)

Net current assets			25,395			38,847

Net assets			64,397			58,740

Capital and reserves
Called up share capital			2			2
Profit and loss account			64,395			58,738

Shareholders' funds			64,397			58,740

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




M Cordwell
Director
Approved by the board on 18 December 2018

CASTLEWAY LIMITED
Notes to the Accounts
for the year ended 31 October 2018


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 November 2017	22,456		108,412		130,868
	Additions	9,281		31,250		40,531
	Disposals	-		(79,412)		(79,412)
	At 31 October 2018	31,737		60,250		91,987

	Depreciation
	At 1 November 2017	20,576		90,399		110,975
	Charge for the year	2,790		10,213		13,003
	On disposals	-		(70,993)		(70,993)
	At 31 October 2018	23,366		29,619		52,985

	Net book value
	At 31 October 2018	8,371		30,631		39,002
	At 31 October 2017	1,880		18,013		19,893


3	Debtors			2018		2017
£					£

	Trade debtors			22,288		54,967
	DLA			37,984		37,984
				60,272		92,951


4	Creditors: amounts falling due within one year			2018		2017
£					£

	Obligations under finance lease and hire purchase contracts			15,850		-
	Trade creditors			11,153		11,187
	Taxation and social security costs			29,182		82,613
	Other creditors			38,200		14,037
				94,385		107,837


5	Other information

	CASTLEWAY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 104
	Solent Business Centre
	Millbrook Road West
	Southampton
	SO15 0HW