Company registration number 12761163 (England and Wales)
CENTRAL FENCING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
PAGES FOR FILING WITH REGISTRAR
CENTRAL FENCING LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
CENTRAL FENCING LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 JULY 2022
31 July 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
30,640
13,807
Current assets
Stocks
3,000
3,000
Debtors
56,221
38,631
Cash at bank and in hand
11,121
8,813
70,342
50,444
Creditors: amounts falling due within one year
(57,142)
(30,143)
Net current assets
13,200
20,301
Total assets less current liabilities
43,840
34,108
Provisions for liabilities
(5,679)
-
0
Net assets
38,161
34,108
Capital and reserves
Called up share capital
4
100
100
Profit and loss reserves
38,061
34,008
Total equity
38,161
34,108

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

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 July 2022 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.

CENTRAL FENCING LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 JULY 2022
31 July 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 November 2023 and are signed on its behalf by:
Mrs J Lowe
R Lowe
Director
Director
Company Registration No. 12761163
CENTRAL FENCING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
- 3 -
1
Accounting policies
Company information

Central Fencing Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lion Buildings, 8 Market Place, Uttoxeter, Staffordshire, ST14 8HP.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
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.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% reducing balance
Computers
20% reducing balance
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.5
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 current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

CENTRAL FENCING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

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

2022
2021
Number
Number
Total
2
2
CENTRAL FENCING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
- 5 -
3
Tangible fixed assets
Total
£
Cost
At 1 August 2021
17,983
Additions
27,017
At 31 July 2022
45,000
Depreciation and impairment
At 1 August 2021
4,176
Depreciation charged in the year
10,184
At 31 July 2022
14,360
Carrying amount
At 31 July 2022
30,640
At 31 July 2021
13,807
4
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
5
Directors' advances, credits and guarantees

The amount owed from the director’s at the balance sheet date is included in debtors. Interest is being charged per the official rates of interest set out by H M Revenue & Customs, under the beneficial loan arrangement rules.

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