Registered number
05873658
Commercial and Industrial Enterprises Limited
Filleted Accounts
31 March 2022
Commercial and Industrial Enterprises Limited
Registered number: 05873658
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 700,000 702,188
Investments 4 55,763 54,743
755,763 756,931
Current assets
Stocks 160,000 -
Debtors 5 560,948 701,971
Investments held as current assets 6 323,100 537,250
Cash at bank and in hand 161,400 109,381
1,205,448 1,348,602
Creditors: amounts falling due within one year 7 (865,013) (686,340)
Net current assets 340,435 662,262
Total assets less current liabilities 1,096,198 1,419,193
Creditors: amounts falling due after more than one year 8 (32,067) (193,703)
Net assets 1,064,131 1,225,490
Capital and reserves
Called up share capital 1,480,002 1,480,002
Profit and loss account (415,871) (254,512)
Shareholders' funds 1,064,131 1,225,490
The director is 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 director acknowledges his 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.
Marina Wright
Director
Approved by the board on 6 September 2022
Commercial and Industrial Enterprises Limited
Notes to the Accounts
for the year ended 31 March 2022
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2021 700,000 12,382 712,382
Disposals - (12,382) (12,382)
At 31 March 2022 700,000 - 700,000
Depreciation
At 1 April 2021 - 10,194 10,194
On disposals - (10,194) (10,194)
At 31 March 2022 - - -
Net book value
At 31 March 2022 700,000 - 700,000
At 31 March 2021 700,000 2,188 702,188
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 April 2021 40,899 13,844 54,743
Additions 1,020 - 1,020
At 31 March 2022 41,919 13,844 55,763
5 Debtors 2022 2021
£ £
Trade debtors - 216,165
Amounts owed by group undertakings and undertakings in which the company has a participating interest 179,906 189,834
Other debtors 381,042 295,972
560,948 701,971
6 Investments held as current assets 2022 2021
£ £
Fair value
Unlisted investments 323,100 537,250
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments (201,900) -
7 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 9,600 -
Trade creditors 14,556 36,182
Amounts owed to group undertakings and undertakings in which the company has a participating interest 68,177 256,740
Taxation and social security costs 12,294 34,615
Other creditors 760,386 358,803
865,013 686,340
8 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 32,067 50,000
Other creditors - 143,703
32,067 193,703
9 Loans 2022 2021
£ £
Creditors include:
Instalments falling due for payment after more than five years - 50,000
10 Other information
Commercial and Industrial Enterprises Limited is a private company limited by shares and incorporated in England. Its registered office is:
Interpark House
7 Down Street
London
England
W1J 7AJ
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