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COMPANY REGISTRATION NUMBER: 02821714
CAS Engineering Limited
Filleted Unaudited Financial Statements
30 June 2023
CAS Engineering Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
2,784
2,635
Current assets
Stocks
16,525
18,549
Debtors
6
524,062
969,393
Cash at bank and in hand
245,882
218,046
---------
------------
786,469
1,205,988
Creditors: amounts falling due within one year
7
461,837
863,258
---------
------------
Net current assets
324,632
342,730
---------
---------
Total assets less current liabilities
327,416
345,365
---------
---------
Net assets
327,416
345,365
---------
---------
Capital and reserves
Called up share capital
2,000
2,000
Profit and loss account
325,416
343,365
---------
---------
Shareholders funds
327,416
345,365
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 September 2023 , and are signed on behalf of the board by:
A G Smith
Director
Company registration number: 02821714
CAS Engineering Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1a &2a, Aston Works, West End, Aston, Oxon, OX18 2DQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
20% reducing balance
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 6 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 July 2022
1,636
835
32,214
34,685
Additions
808
808
-------
----
--------
--------
At 30 June 2023
1,636
835
33,022
35,493
-------
----
--------
--------
Depreciation
At 1 July 2022
1,636
835
29,579
32,050
Charge for the year
659
659
-------
----
--------
--------
At 30 June 2023
1,636
835
30,238
32,709
-------
----
--------
--------
Carrying amount
At 30 June 2023
2,784
2,784
-------
----
--------
--------
At 30 June 2022
2,635
2,635
-------
----
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
261,305
573,542
Other debtors
262,757
395,851
---------
---------
524,062
969,393
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
32,208
90,929
Corporation tax
32,249
9,086
Social security and other taxes
32,221
22,495
Other creditors
365,159
740,748
---------
---------
461,837
863,258
---------
---------
8. Related party transactions
Included within sales are management charges of £359,000 (2022: £252,00) to Wohr UK Ltd, a company under common control. Included within other debtors is £70,000 (2022:£nil) outstanding from Wohr UK Ltd.