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REGISTERED NUMBER: 01068311 (England and Wales)

























Financial Statements

for the Year Ended 31 December 2023

for

Custom Transformers Limited

Custom Transformers Limited (Registered number: 01068311)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Custom Transformers Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: K Baldwin
J C Pike
Mrs D P Baldwin
Mrs L L Pike





SECRETARY: J C Pike





REGISTERED OFFICE: Unit 23 Whitewalls
Easton Grey
Nr. Malmesbury
Wiltshire
SN16 0RD





REGISTERED NUMBER: 01068311 (England and Wales)





ACCOUNTANTS: Mander Duffill
Chartered Accountants
The Old Post Office
41-43 Market Place
Chippenham
Wiltshire
SN15 3HR

Custom Transformers Limited (Registered number: 01068311)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,852 13,114

CURRENT ASSETS
Stocks 205,071 133,507
Debtors 5 241,314 146,757
Cash at bank 150,320 311,379
596,705 591,643
CREDITORS
Amounts falling due within one year 6 128,809 129,796
NET CURRENT ASSETS 467,896 461,847
TOTAL ASSETS LESS CURRENT
LIABILITIES

478,748

474,961

PROVISIONS FOR LIABILITIES 2,713 2,492
NET ASSETS 476,035 472,469

CAPITAL AND RESERVES
Called up share capital 766 766
Capital redemption reserve 4,284 4,284
Retained earnings 470,985 467,419
SHAREHOLDERS' FUNDS 476,035 472,469

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Custom Transformers Limited (Registered number: 01068311)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2024 and were signed on its behalf by:




K Baldwin - Director



J C Pike - Director


Custom Transformers Limited (Registered number: 01068311)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Custom Transformers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 15% on reducing balance

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture or completion.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 20 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 692,650
DEPRECIATION
At 1 January 2023 679,536
Charge for year 2,262
At 31 December 2023 681,798
NET BOOK VALUE
At 31 December 2023 10,852
At 31 December 2022 13,114

Custom Transformers Limited (Registered number: 01068311)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 177,766 140,987
Other debtors 63,548 5,770
241,314 146,757

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 60,903 33,523
Other creditors 67,906 96,273
128,809 129,796

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 3,553 5,456
Between one and five years 1,560 2,719
5,113 8,175