Company Registration No. 05993740 (England and Wales)
C.A.B. Services (UK) Ltd
Unaudited accounts
for the year ended 31 March 2023
C.A.B. Services (UK) Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
129,515
113,385
Cash at bank and in hand
24,247
40,935
Creditors: amounts falling due within one year
(78,048)
(100,749)
Net current liabilities
(3,235)
(21,013)
Total assets less current liabilities
126,280
92,372
Creditors: amounts falling due after more than one year
(41,543)
(62,691)
Provisions for liabilities
Deferred tax
(24,608)
(21,543)
Called up share capital
50
50
Profit and loss account
60,079
8,088
Shareholders' funds
60,129
8,138
For the year ending 31 March 2023 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 director acknowledges his 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 and authorised for issue on 10 October 2023 and were signed on its behalf by
C A Breward
Director
Company Registration No. 05993740
C.A.B. Services (UK) Ltd
Notes to the Accounts
for the year ended 31 March 2023
C.A.B. Services (UK) Ltd is a private company, limited by shares, registered in England and Wales, registration number 05993740. The registered office is The Old Brickworks, Buckle Street, Honeybourne, Worcestershire, WR11 8QE, 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.
The comparatives have been restated following prior year adjustments to reclassify loan repayments to rental costs and the associated tax impact. A further adjustment has been made to recognise the deferred tax liability which arose on the purchase of the van fleet.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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.
The accounts are presented in £ sterling.
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 assets over their estimated useful lives:
Land & buildings
Buildings 10% straight line
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
25% reducing balance
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.
C.A.B. Services (UK) Ltd
Notes to the Accounts
for the year ended 31 March 2023
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.
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.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2022
40,000
60,541
222,958
12,838
336,337
Additions
-
45,799
-
1,607
47,406
At 31 March 2023
40,000
106,340
222,958
14,445
383,743
At 1 April 2022
20,000
33,598
158,377
10,977
222,952
Charge for the year
4,000
10,498
16,145
633
31,276
At 31 March 2023
24,000
44,096
174,522
11,610
254,228
At 31 March 2023
16,000
62,244
48,436
2,835
129,515
At 31 March 2022
20,000
26,943
64,581
1,861
113,385
Amounts falling due within one year
Trade debtors
43,642
37,562
Accrued income and prepayments
2,119
1,145
C.A.B. Services (UK) Ltd
Notes to the Accounts
for the year ended 31 March 2023
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
16,940
17,218
Obligations under finance leases and hire purchase contracts
22,259
18,027
Taxes and social security
9,519
10,704
Loans from directors
10,845
32,058
The bank overdraft is repayable on demand and is secured on the company's vans.
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
8,111
14,420
8
Deferred taxation
2023
2022
Accelerated capital allowances
24,608
21,543
Provision at start of year
21,543
19,282
Charged to the profit and loss account
3,065
2,261
Provision at end of year
24,608
21,543
Allotted, called up and fully paid:
50 Ordinary shares of £1 each
50
50
10
Operating lease commitments
2023
2022
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
4,136
3,588
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Average number of employees
During the year the average number of employees was 8 (2022: 7).