Registered number
06316973
CJS CNC Machining Ltd
Filleted Accounts
31 July 2023
CJS CNC Machining Ltd
Registered number: 06316973
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 148,674 125,562
Current assets
Stocks 8,750 9,722
Debtors 5 41,768 45,922
Cash at bank and in hand 18,804 33,294
69,322 88,938
Creditors: amounts falling due within one year 6 (40,093) (39,624)
Net current assets 29,229 49,314
Total assets less current liabilities 177,903 174,876
Creditors: amounts falling due after more than one year 7 (18,500) (27,750)
Provisions for liabilities (28,248) (23,856)
Net assets 131,155 123,270
Capital and reserves
Called up share capital 100 100
Profit and loss account 131,055 123,170
Shareholder's funds 131,155 123,270
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C Smith
Director
Approved by the board on 9 October 2023
CJS CNC Machining Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 4 years
Plant and machinery over 10 years
Office equipment over 3.3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company, including the director 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 32,000
At 31 July 2023 32,000
Amortisation
At 1 August 2022 32,000
At 31 July 2023 32,000
Net book value
At 31 July 2023 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Office equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 4,128 196,088 33,945 234,161
Additions - 40,597 1,592 42,189
At 31 July 2023 4,128 236,685 35,537 276,350
Depreciation
At 1 August 2022 4,122 104,477 - 108,599
Charge for the year - 13,596 5,481 19,077
At 31 July 2023 4,122 118,073 5,481 127,676
Net book value
At 31 July 2023 6 118,612 30,056 148,674
At 31 July 2022 6 91,611 33,945 125,562
5 Debtors 2023 2022
£ £
Trade debtors 40,984 36,501
Other debtors 784 9,421
41,768 45,922
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,250 9,250
Trade creditors 11,633 3,852
Taxation and social security costs 3,251 5,495
Other creditors 15,959 21,027
40,093 39,624
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,500 27,750
8 Controlling party
The company is controlled by its Director, Mr C Smith.
9 Other information
CJS CNC Machining Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Blue Barns Business Park
Old Ipswich Road, Ardleigh
Colchester
Essex
CO7 7FX
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