Company registration number 00420909 (England and Wales)
CHELTENHAM ROAD ENGINEERING CO.LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
CHELTENHAM ROAD ENGINEERING CO.LIMITED
COMPANY INFORMATION
Directors
Mr D M Draper
Mr P M Draper
Secretary
Mr P M Draper
Company number
00420909
Registered office
Anchor Works
Evesham Road
Astwood Bank
Redditch
Worcestershire
B96 6DU
Accountants
Jerroms GCN Limited
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
CHELTENHAM ROAD ENGINEERING CO.LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 6
CHELTENHAM ROAD ENGINEERING CO.LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF CHELTENHAM ROAD ENGINEERING CO.LIMITED
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cheltenham Road Engineering Co.Limited for the year ended 31 January 2023 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the board of directors of Cheltenham Road Engineering Co.Limited, as a body, in accordance with the terms of our engagement letter dated 17 October 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Cheltenham Road Engineering Co.Limited and state those matters that we have agreed to state to the board of directors of Cheltenham Road Engineering Co.Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cheltenham Road Engineering Co.Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Cheltenham Road Engineering Co.Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cheltenham Road Engineering Co.Limited. You consider that Cheltenham Road Engineering Co.Limited 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 financial statements of Cheltenham Road Engineering Co.Limited. 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 financial statements.

Jerroms GCN Limited
17 October 2023
Chartered Certified Accountants
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
CHELTENHAM ROAD ENGINEERING CO.LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 JANUARY 2023
31 January 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,155
4,206
Current assets
Debtors
4
120,932
157,365
Creditors: amounts falling due within one year
5
(54,996)
(77,621)
Net current assets
65,936
79,744
Total assets less current liabilities
69,091
83,950
Creditors: amounts falling due after more than one year
6
(35,555)
(54,990)
Net assets
33,536
28,960
Capital and reserves
Called up share capital
860
860
Profit and loss reserves
32,676
28,100
Total equity
33,536
28,960

The notes on pages 4 to 6 form part of these financial statements.

CHELTENHAM ROAD ENGINEERING CO.LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 JANUARY 2023
31 January 2023
- 3 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 17 October 2023 and are signed on its behalf by:
Mr D M Draper
Mr P M Draper
Director
Director
Company Registration No. 00420909
CHELTENHAM ROAD ENGINEERING CO.LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 4 -
1
Accounting policies
Company information

Cheltenham Road Engineering Co.Limited is a private company limited by shares incorporated in England and Wales. The registered office is Anchor Works, Evesham Road, Astwood Bank, Redditch, Worcestershire, B96 6DU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.3
Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

 

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when the cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

 

Depreciation is charged so as to allocate the cost of the assets less their residual value over their estimated useful lives, on a reducing balance basis.

 

Depreciation is provided on the following basis:

 

     Plant and machinery    -     25%     RB or 12.5% on cost as appropriate

     Fixtures and fittings    -     20%     on cost

     Motor vehicles     -     25%     on reducing balance

 

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

 

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

CHELTENHAM ROAD ENGINEERING CO.LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 5 -
1.4
Taxation
Current tax

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

 

Current or deferred taxation assets and liabilities are not discounted.

 

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

 

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2022 and 31 January 2023
329,064
1,700
3,860
334,624
Depreciation and impairment
At 1 February 2022
326,268
1,700
2,450
330,418
Depreciation charged in the year
699
-
0
352
1,051
At 31 January 2023
326,967
1,700
2,802
331,469
Carrying amount
At 31 January 2023
2,097
-
0
1,058
3,155
At 31 January 2022
2,796
-
0
1,410
4,206
CHELTENHAM ROAD ENGINEERING CO.LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 6 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
41,079
53,924
Amounts owed by undertakings in which the company has a participating interest
77,921
103,040
Other debtors
1,932
308
Prepayments and accrued income
-
0
93
120,932
157,365
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
22,661
30,895
Trade creditors
30,660
45,051
Accruals and deferred income
1,675
1,675
54,996
77,621

The bank overdraft and factoring account are secured by a debenture dated 3 March 2006 in favour of Lloyds Bank plc, an all assets debenture dated 7 January 2010 in favour of Lloyds Commercial Finance Limited and a legal mortgage dated 20 October 2008 in favour of Lloyds Bank plc.

6
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
35,555
54,990
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