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Registration number: 03123708

CAM (Trading) Ltd

Unaudited Financial Statements

for the Year Ended 31 January 2023

 

CAM (Trading) Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 7

 

CAM (Trading) Ltd

Company Information

Director

Mrs A J E Court

Company secretary

Mrs A J E Court

Registered office

The Wharf
Tavistock
Devon
PL19 8AT

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
CAM (Trading) Ltd
for the Year Ended 31 January 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CAM (Trading) Ltd for the year ended 31 January 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of CAM (Trading) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of CAM (Trading) Ltd and state those matters that we have agreed to state to the Board of Directors of CAM (Trading) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CAM (Trading) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that CAM (Trading) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of CAM (Trading) Ltd. You consider that CAM (Trading) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of CAM (Trading) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

2 October 2023

 

CAM (Trading) Ltd

(Registration number: 03123708)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,415

3,722

Current assets

 

Stocks

4,342

4,462

Debtors

5

38,265

35,814

Cash at bank and in hand

 

22,072

14,745

 

64,679

55,021

Creditors: Amounts falling due within one year

6

(18,408)

(15,050)

Net current assets

 

46,271

39,971

Total assets less current liabilities

 

47,686

43,693

Creditors: Amounts falling due after more than one year

6

(32,709)

(37,440)

Net assets

 

14,977

6,253

Capital and reserves

 

Called up share capital

3,000

3,000

Retained earnings

11,977

3,253

Shareholders' funds

 

14,977

6,253

 

CAM (Trading) Ltd

(Registration number: 03123708)
Balance Sheet as at 31 January 2023

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 6 October 2023
 

.........................................

Mrs A J E Court

Company secretary and director

 

CAM (Trading) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Wharf
Tavistock
Devon
PL19 8AT

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The accounts have been prepared on a going concern basis, taking into account the impact on the business caused by the Coronavirus outbreak. To cope with the outbreak the business accessed the relevant emergency government support available to support it through the lockdown, and expects to be in a position to commence normal trading once the peak of the crisis has passed.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% straight line

 

CAM (Trading) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2022 - 9).

4

Tangible assets

Fixtures and fittings
 £

Total
£

Cost or valuation

At 1 February 2022

18,560

18,560

Additions

675

675

At 31 January 2023

19,235

19,235

Depreciation

At 1 February 2022

14,838

14,838

Charge for the year

2,982

2,982

At 31 January 2023

17,820

17,820

Carrying amount

At 31 January 2023

1,415

1,415

At 31 January 2022

3,722

3,722

 

CAM (Trading) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

5

Debtors

2023
£

2022
£

Trade debtors

-

472

Other debtors

38,265

35,342

38,265

35,814

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

4,707

4,567

Trade creditors

 

2,336

5,201

Taxation and social security

 

8,456

4,198

Accruals and deferred income

 

1,967

814

Other creditors

 

942

270

 

18,408

15,050

The bank overdraft is secured by Personal Guarantees from the director which are supported by a Second
Charge over her residential property.

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

32,709

37,440

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

32,709

37,440

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,707

4,567