Silverfin false 31/01/2023 01/02/2022 31/01/2023 P R Beynon 15/01/2013 S A Beynon 15/01/2013 25 October 2023 The principal activity of the Company during the financial year was consultancy. 08361955 2023-01-31 08361955 bus:Director1 2023-01-31 08361955 bus:Director2 2023-01-31 08361955 2022-01-31 08361955 core:CurrentFinancialInstruments 2023-01-31 08361955 core:CurrentFinancialInstruments 2022-01-31 08361955 core:ShareCapital 2023-01-31 08361955 core:ShareCapital 2022-01-31 08361955 core:RetainedEarningsAccumulatedLosses 2023-01-31 08361955 core:RetainedEarningsAccumulatedLosses 2022-01-31 08361955 core:PlantMachinery 2022-01-31 08361955 core:Vehicles 2022-01-31 08361955 core:ComputerEquipment 2022-01-31 08361955 core:PlantMachinery 2023-01-31 08361955 core:Vehicles 2023-01-31 08361955 core:ComputerEquipment 2023-01-31 08361955 bus:OrdinaryShareClass1 2023-01-31 08361955 2022-02-01 2023-01-31 08361955 bus:FullAccounts 2022-02-01 2023-01-31 08361955 bus:SmallEntities 2022-02-01 2023-01-31 08361955 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 08361955 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 08361955 bus:Director1 2022-02-01 2023-01-31 08361955 bus:Director2 2022-02-01 2023-01-31 08361955 core:PlantMachinery core:TopRangeValue 2022-02-01 2023-01-31 08361955 core:Vehicles 2022-02-01 2023-01-31 08361955 core:ComputerEquipment 2022-02-01 2023-01-31 08361955 2021-02-01 2022-01-31 08361955 core:PlantMachinery 2022-02-01 2023-01-31 08361955 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 08361955 bus:OrdinaryShareClass1 2021-02-01 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08361955 (England and Wales)

CGO TRADING LTD

Unaudited Financial Statements
For the financial year ended 31 January 2023
Pages for filing with the registrar

CGO TRADING LTD

Unaudited Financial Statements

For the financial year ended 31 January 2023

Contents

CGO TRADING LTD

STATEMENT OF FINANCIAL POSITION

As at 31 January 2023
CGO TRADING LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 31,196 37,791
31,196 37,791
Current assets
Debtors 5 28,679 28,463
Cash at bank and in hand 10,639 54,456
39,318 82,919
Creditors: amounts falling due within one year 6 ( 77,518) ( 42,114)
Net current (liabilities)/assets (38,200) 40,805
Total assets less current liabilities (7,004) 78,596
Provision for liabilities ( 1,917) 0
Net (liabilities)/assets ( 8,921) 78,596
Capital and reserves
Called-up share capital 7 3 3
Profit and loss account ( 8,924 ) 78,593
Total shareholders' (deficit)/funds ( 8,921) 78,596

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.

Directors' responsibilities:

The financial statements of CGO Trading Ltd (registered number: 08361955) were approved and authorised for issue by the Director on 25 October 2023. They were signed on its behalf by:

P R Beynon
Director
CGO TRADING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
CGO TRADING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

CGO Trading Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 North Place, Cheltenham, GL50 4DW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 25 % reducing balance
Computer equipment 25 % reducing balance
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.Transition to FRS102

The Company has adopted FRS 102 for the year ended 31 January 2023. The date of transition to FRS 102 was 1 February 2021. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

4. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 February 2022 15,890 34,860 34,471 85,221
Additions 0 0 3,131 3,131
At 31 January 2023 15,890 34,860 37,602 88,352
Accumulated depreciation
At 01 February 2022 3,178 15,251 29,001 47,430
Charge for the financial year 3,178 4,902 1,646 9,726
At 31 January 2023 6,356 20,153 30,647 57,156
Net book value
At 31 January 2023 9,534 14,707 6,955 31,196
At 31 January 2022 12,712 19,609 5,470 37,791

5. Debtors

2023 2022
£ £
Trade debtors 24,000 22,000
Other debtors 4,679 6,463
28,679 28,463

6. Creditors: amounts falling due within one year

2023 2022
£ £
Other taxation and social security 770 0
Other creditors 76,748 42,114
77,518 42,114

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
3 Ordinary shares of £ 1.00 each 3 3

8. Related party transactions

At the balance sheet date, the company has a loan from its directors of £75,224 (2022: £40,615). No interest is being charged and the loan is repayable on demand. Dividends of £54,000 (2022: £20,000) were paid to the directors during the year.