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Company Registration No. 01855059 (England and Wales)
Charles Endirect Limited Unaudited accounts for the year ended 31 March 2022
Charles Endirect Limited Unaudited accounts Contents
Page
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Charles Endirect Limited Statement of financial position as at 31 March 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
809,116 
841,125 
Current assets
Inventories
1,435,430 
1,433,505 
Debtors
590,165 
1,054,894 
Cash at bank and in hand
2,011,945 
1,692,160 
4,037,540 
4,180,559 
Creditors: amounts falling due within one year
(911,071)
(1,318,634)
Net current assets
3,126,469 
2,861,925 
Total assets less current liabilities
3,935,585 
3,703,050 
Creditors: amounts falling due after more than one year
(8,913)
(29,555)
Provisions for liabilities
Deferred tax
(14,156)
(20,157)
Net assets
3,912,516 
3,653,338 
Capital and reserves
Called up share capital
700 
700 
Capital redemption reserve
300 
300 
Profit and loss account
3,911,516 
3,652,338 
Shareholders' funds
3,912,516 
3,653,338 
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 July 2022 and were signed on its behalf by
N J Charles Director Company Registration No. 01855059
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Charles Endirect Limited Notes to the Accounts for the year ended 31 March 2022
1
Statutory information
Charles Endirect Limited is a private company, limited by shares, registered in England and Wales, registration number 01855059. The registered office is Wessex Way, Wincanton Business Park, Wincanton, Somerset, BA9 9RR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the cost less residual value of assets over their estimated useful lives:
Land & buildings
Buildings straight line over 25 years, land not depreciated
Plant & machinery
25% straight line
Motor vehicles
25% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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Charles Endirect Limited Notes to the Accounts for the year ended 31 March 2022
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Investments in jointly controlled entities
The company has adopted the cost model and measures its investment in jointly controlled entities at cost less any accumulated impairment losses recognised in accordance with FRS 102 Section 27 Impairment of Assets.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2021
75,200 
Disposals
(75,200)
At 31 March 2022
- 
Amortisation
At 1 April 2021
75,200 
On disposals
(75,200)
At 31 March 2022
- 
Net book value
At 31 March 2022
- 
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Charles Endirect Limited Notes to the Accounts for the year ended 31 March 2022
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2021
889,715 
967,534 
132,663 
1,989,912 
Additions
- 
48,104 
- 
48,104 
Disposals
- 
(180,388)
- 
(180,388)
At 31 March 2022
889,715 
835,250 
132,663 
1,857,628 
Depreciation
At 1 April 2021
204,627 
872,626 
71,534 
1,148,787 
Charge for the year
17,015 
39,263 
22,881 
79,159 
On disposals
- 
(179,434)
- 
(179,434)
At 31 March 2022
221,642 
732,455 
94,415 
1,048,512 
Net book value
At 31 March 2022
668,073 
102,795 
38,248 
809,116 
At 31 March 2021
685,088 
94,908 
61,129 
841,125 
2022 
2021 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
32,459 
60,414 
6
Debtors: amounts falling due within one year
2022 
2021 
£ 
£ 
Trade debtors
557,565 
1,021,826 
Accrued income and prepayments
32,200 
23,199 
Other debtors
400 
9,869 
590,165 
1,054,894 
7
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
VAT
224,537 
235,800 
Obligations under finance leases and hire purchase contracts
20,642 
21,714 
Trade creditors
326,585 
481,646 
Taxes and social security
125,340 
143,852 
Other creditors
23,586 
540 
Accruals
190,381 
381,195 
Deferred income
- 
53,887 
911,071 
1,318,634 
The finance leases and hire purchase contracts are secured on the assets concerned.
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Charles Endirect Limited Notes to the Accounts for the year ended 31 March 2022
8
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Obligations under finance leases and hire purchase contracts
8,913 
29,555 
The finance leases and hire purchase contracts are secured on the assets concerned.
9
Capital commitments
2022 
2021 
£ 
£ 
Amounts contracted but not provided for in the accounts
- 
19,496 
10
Operating lease commitments
2022 
2021 
£ 
£ 
At 31 March 2022 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
52,077 
30,260 
11
Average number of employees
During the year the average number of employees was 34 (2021: 33).
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