Cable Coiling Limited 10786996 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is that of the wholesale of machine tools. Digita Accounts Production Advanced 6.30.9574.0 true true 10786996 2022-06-01 2023-05-31 10786996 2023-05-31 10786996 core:CurrentFinancialInstruments 2023-05-31 10786996 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 10786996 core:OfficeEquipment 2023-05-31 10786996 bus:SmallEntities 2022-06-01 2023-05-31 10786996 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 10786996 bus:FullAccounts 2022-06-01 2023-05-31 10786996 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 10786996 bus:RegisteredOffice 2022-06-01 2023-05-31 10786996 bus:Director1 2022-06-01 2023-05-31 10786996 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 10786996 core:OfficeEquipment 2022-06-01 2023-05-31 10786996 countries:EnglandWales 2022-06-01 2023-05-31 10786996 2022-05-31 10786996 core:OfficeEquipment 2022-05-31 10786996 2021-06-01 2022-05-31 10786996 2022-05-31 10786996 core:CurrentFinancialInstruments 2022-05-31 10786996 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 10786996 core:OfficeEquipment 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 10786996

Cable Coiling Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Cable Coiling Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Cable Coiling Limited

(Registration number: 10786996)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

295

394

Current assets

 

Debtors

6

4,248

1,356

Cash at bank and in hand

 

8,692

10,924

 

12,940

12,280

Creditors: Amounts falling due within one year

7

(13,235)

(11,185)

Net current (liabilities)/assets

 

(295)

1,095

Net assets

 

-

1,489

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(100)

1,389

Shareholders' funds

 

-

1,489

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 February 2024 and signed on its behalf by:
 

.........................................
P D Delaney
Director

 

Cable Coiling Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale machine tools. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Cable Coiling Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Taxation

2023

2022

£

£

Corporation tax

-

(384)

Deferred tax

-

-

-

(384)

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Cable Coiling Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 June 2022

694

694

At 31 May 2023

694

694

Depreciation

At 1 June 2022

300

300

Charge for the year

99

99

At 31 May 2023

399

399

Carrying amount

At 31 May 2023

295

295

At 31 May 2022

394

394

6

Debtors

Current

2023
£

2022
£

Trade debtors

4,248

972

Other debtors

-

384

 

4,248

1,356

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

2,032

365

Taxation and social security

533

1,378

Other creditors

10,670

9,442

13,235

11,185

 

Cable Coiling Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

8

Related party transactions

Other transactions with directors

Mr P Delaney had a directors loan with the company. As at year ended 31st May 2023 the company owed him £8,234 (2022: £8,242).