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REGISTERED NUMBER: 01712515 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

C. Y. FINISHES LIMITED

C. Y. FINISHES LIMITED (REGISTERED NUMBER: 01712515)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C. Y. FINISHES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTOR: I C Passey





SECRETARY: Mrs G Passey





REGISTERED OFFICE: 25 St Thomas Street
Winchester
Hampshire
SO23 9HJ





REGISTERED NUMBER: 01712515 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

C. Y. FINISHES LIMITED (REGISTERED NUMBER: 01712515)

BALANCE SHEET
30 APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,586 16,985

CURRENT ASSETS
Stocks 10,951 10,251
Debtors 5 460,134 430,981
Cash at bank 15,210 12,916
486,295 454,148
CREDITORS
Amounts falling due within one year 6 138,978 118,615
NET CURRENT ASSETS 347,317 335,533
TOTAL ASSETS LESS CURRENT
LIABILITIES

359,903

352,518

CREDITORS
Amounts falling due after more than one
year

7

26,396

41,384
NET ASSETS 333,507 311,134

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Share premium 10,000 10,000
Capital redemption reserve 30,000 30,000
Retained earnings 263,507 241,134
SHAREHOLDERS' FUNDS 333,507 311,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

C. Y. FINISHES LIMITED (REGISTERED NUMBER: 01712515)

BALANCE SHEET - continued
30 APRIL 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 January 2024 and were signed by:





I C Passey - Director


C. Y. FINISHES LIMITED (REGISTERED NUMBER: 01712515)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

C. Y. Finishes 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.
Short leasehold - 16.6% on cost
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

C. Y. FINISHES LIMITED (REGISTERED NUMBER: 01712515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued

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 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 May 2022
and 30 April 2023 8,388 2,122 349,304
DEPRECIATION
At 1 May 2022 8,388 2,122 332,324
Charge for year - - 4,399
At 30 April 2023 8,388 2,122 336,723
NET BOOK VALUE
At 30 April 2023 - - 12,581
At 30 April 2022 - - 16,980

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2022
and 30 April 2023 26,785 4,585 391,184
DEPRECIATION
At 1 May 2022 26,784 4,581 374,199
Charge for year - - 4,399
At 30 April 2023 26,784 4,581 378,598
NET BOOK VALUE
At 30 April 2023 1 4 12,586
At 30 April 2022 1 4 16,985

C. Y. FINISHES LIMITED (REGISTERED NUMBER: 01712515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 97,818 109,657
Amounts owed by group undertakings 323,373 287,548
Other debtors 4,932 3,604
Prepayments 34,011 30,172
460,134 430,981

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 19,243 3,091
Hire purchase contracts 1,854 2,225
Trade creditors 67,708 52,764
Tax 6,387 9,690
Social security and other taxes 6,571 5,981
VAT 16,228 24,709
Other creditors 1,487 1,155
Accruals and deferred income 9,500 9,000
138,978 118,615

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 10,833 20,833
Hire purchase contracts 5,563 10,551
26,396 41,384

8. RELATED PARTY DISCLOSURES

The company has made / received interest free loans to the following group companies at 30 April 2023:

Ipera Coatings Limited - Debtor £318,373 (2022: £287,548).
CY Sheet Metal Limited - Debtor £5,000 (2022: £nil).

9. ULTIMATE CONTROLLING PARTY

The controlling party is Ipera Coatings Limited.

The ultimate controlling party is I C Passey.