Company Registration No. 02112723 (England and Wales)
Computer Supply Lines Limited
Unaudited accounts
for the year ended 31 May 2023
Computer Supply Lines Limited
Unaudited accounts
Contents
Computer Supply Lines Limited
Company Information
for the year ended 31 May 2023
Company Number
02112723 (England and Wales)
Registered Office
77A Richmond Road
Twickenham
Middlesex
TW1 3AW
England
Accountants
P10 Accountancy Ltd
77A Richmond Road
Twickenham
TW1 3AW
Computer Supply Lines Limited
Statement of financial position
as at 31 May 2023
Tangible assets
3,304
55,305
Cash at bank and in hand
239,126
400,647
Creditors: amounts falling due within one year
(364,581)
(629,421)
Net current assets
185,003
100,791
Total assets less current liabilities
188,307
156,096
Creditors: amounts falling due after more than one year
(20,000)
(40,000)
Net assets
168,307
116,096
Called up share capital
100
100
Profit and loss account
168,207
115,996
Shareholders' funds
168,307
116,096
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 February 2024 and were signed on its behalf by
James Clarke
Director
Company Registration No. 02112723
Computer Supply Lines Limited
Notes to the Accounts
for the year ended 31 May 2023
Computer Supply Lines Limited is a private company, limited by shares, registered in England and Wales, registration number 02112723. The registered office is 77A Richmond Road, Twickenham, Middlesex, TW1 3AW, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balancing
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Computer Supply Lines Limited
Notes to the Accounts
for the year ended 31 May 2023
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 June 2022
26,218
75,839
102,057
Disposals
-
(75,839)
(75,839)
At 31 May 2023
26,218
-
26,218
At 1 June 2022
21,812
24,940
46,752
Charge for the year
1,102
-
1,102
On disposals
-
(24,940)
(24,940)
At 31 May 2023
22,914
-
22,914
At 31 May 2023
3,304
-
3,304
At 31 May 2022
4,406
50,899
55,305
Amounts falling due within one year
Trade debtors
284,573
299,152
Accrued income and prepayments
19,500
21,880
Computer Supply Lines Limited
Notes to the Accounts
for the year ended 31 May 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
-
Trade creditors
289,976
558,629
Taxes and social security
31,483
23,002
Loans from directors
-
35,900
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 6 (2022: 6).