Registered number
09561159
Complete Material Handling Limited
Filleted Accounts
31 October 2023
Complete Material Handling Limited
Registered number: 09561159
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 612 816
Tangible assets 4 78,338 63,097
78,950 63,913
Current assets
Stocks 743,512 621,373
Debtors 5 244,272 286,514
Cash at bank and in hand 210,865 53,569
1,198,649 961,456
Creditors: amounts falling due within one year 6 (815,535) (633,591)
Net current assets 383,114 327,865
Total assets less current liabilities 462,064 391,778
Creditors: amounts falling due after more than one year 7 (139,180) (199,424)
Provisions for liabilities (19,585) (11,989)
Net assets 303,299 180,365
Capital and reserves
Called up share capital 102 101
Profit and loss account 303,197 180,264
Shareholders' funds 303,299 180,365
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 K A Richardson
Director
Approved by the board on 28 March 2024
Complete Material Handling Limited
Notes to the Accounts
for the year ended 31 October 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.
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 at the following rates:
Computer Equipment 15% reducing balance
Office Equipment 15% reducing balance
Plant and machinery 15% & 25% reducing balance
Stocks
Stocks are measured at the lower of cost. 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 the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is 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. 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. 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. 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 12 11
3 Intangible fixed assets £
Website:
Cost
At 1 November 2022 2,039
At 31 October 2023 2,039
Amortisation
At 1 November 2022 1,223
Provided during the year 204
At 31 October 2023 1,427
Net book value
At 31 October 2023 612
At 31 October 2022 816
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Computer equipment Office equipment Plant and machinery Total
£ £ £ £
Cost
At 1 November 2022 5,739 3,017 116,131 124,887
Additions - 3,253 32,435 35,688
At 31 October 2023 5,739 6,270 148,566 160,575
Depreciation
At 1 November 2022 3,208 1,259 57,323 61,790
Charge for the year 380 546 19,521 20,447
At 31 October 2023 3,588 1,805 76,844 82,237
Net book value
At 31 October 2023 2,151 4,465 71,722 78,338
At 31 October 2022 2,531 1,758 58,808 63,097
5 Debtors 2023 2022
£ £
Trade debtors 215,316 248,692
Other debtors 28,956 37,822
244,272 286,514
6 Creditors: amounts falling due within one year 2023 2022
£ £
Loans 10,000 11,220
Obligations under finance lease and hire purchase contracts 186,408 260,132
Trade creditors 550,165 305,440
Taxation and social security costs 62,093 55,969
Other creditors 6,869 830
815,535 633,591
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,898 24,019
Obligations under finance lease and hire purchase contracts 123,282 175,405
139,180 199,424
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr K A Richardson
Directors loan account 2,240 - - 2,240
2,240 - - 2,240
9 Controlling party
The company is controlled by its directors and Imperator Group Ltd.
10 Other information
Complete Material Handling Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 High Street
Stanley
Co Durham
DH9 0DQ
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