Company registration number 03474905 (England and Wales)
CEM ENGINEERING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CEM ENGINEERING LTD
COMPANY INFORMATION
Director
R A Jones
Company number
03474905
Registered office
Unit 2 Mallard Industrial Park
Horbury Junction
Wakefield
West Yorkshire
WF4 5QH
Accountants
Calvert Dawson Ltd
288 Oxford Road
Gomersal
Cleckheaton
West Yorkshire
BD19 4PY
CEM ENGINEERING LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CEM ENGINEERING LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
328,488
319,200
Current assets
Stocks
530,129
553,485
Debtors
4
908,038
926,003
Cash at bank and in hand
429,869
269,001
1,868,036
1,748,489
Creditors: amounts falling due within one year
5
(1,585,004)
(1,584,564)
Net current assets
283,032
163,925
Total assets less current liabilities
611,520
483,125
Creditors: amounts falling due after more than one year
6
-
0
(30,721)
Provisions for liabilities
(82,122)
(60,648)
Net assets
529,398
391,756
Capital and reserves
Called up share capital
100
100
Other reserves
37,383
37,383
Profit and loss reserves
491,915
354,273
Total equity
529,398
391,756

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

CEM ENGINEERING LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 14 March 2024
R A Jones
Director
Company registration number 03474905 (England and Wales)
CEM ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

CEM Engineering Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2 Mallard Industrial Park, Horbury Junction, Wakefield, West Yorkshire, WF4 5QH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
straight line over 10 years
Plant and equipment
straight line over 10 years
Fixtures and fittings
straight line over 10 years
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

CEM ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
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.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

CEM ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
24
34
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
128,138
549,916
678,054
Additions
-
0
74,914
74,914
At 31 December 2023
128,138
624,830
752,968
Depreciation and impairment
At 1 January 2023
128,138
230,716
358,854
Depreciation charged in the year
-
0
65,626
65,626
At 31 December 2023
128,138
296,342
424,480
Carrying amount
At 31 December 2023
-
0
328,488
328,488
At 31 December 2022
-
0
319,200
319,200
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
847,379
849,031
Other debtors
60,659
45,716
908,038
894,747
2023
2022
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
31,256
Total debtors
908,038
926,003
CEM ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
595,332
585,208
Corporation tax
5,185
-
0
Other taxation and social security
45,162
39,295
Other creditors
939,325
960,061
1,585,004
1,584,564
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
-
0
30,721
2023-12-312023-01-01false14 March 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityR A Jonesfalse034749052023-01-012023-12-3103474905bus:Director12023-01-012023-12-3103474905bus:RegisteredOffice2023-01-012023-12-31034749052023-12-31034749052022-12-3103474905core:LandBuildings2023-12-3103474905core:OtherPropertyPlantEquipment2023-12-3103474905core:LandBuildings2022-12-3103474905core:OtherPropertyPlantEquipment2022-12-3103474905core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3103474905core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3103474905core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3103474905core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3103474905core:CurrentFinancialInstruments2023-12-3103474905core:CurrentFinancialInstruments2022-12-3103474905core:ShareCapital2023-12-3103474905core:ShareCapital2022-12-3103474905core:OtherMiscellaneousReserve2023-12-3103474905core:OtherMiscellaneousReserve2022-12-3103474905core:RetainedEarningsAccumulatedLosses2023-12-3103474905core:RetainedEarningsAccumulatedLosses2022-12-3103474905core:LandBuildingscore:LongLeaseholdAssets2023-01-012023-12-3103474905core:PlantMachinery2023-01-012023-12-3103474905core:FurnitureFittings2023-01-012023-12-3103474905core:MotorVehicles2023-01-012023-12-31034749052022-01-012022-12-3103474905core:LandBuildings2022-12-3103474905core:OtherPropertyPlantEquipment2022-12-31034749052022-12-3103474905core:LandBuildings2023-01-012023-12-3103474905core:OtherPropertyPlantEquipment2023-01-012023-12-3103474905core:WithinOneYear2023-12-3103474905core:WithinOneYear2022-12-3103474905core:AfterOneYear2023-12-3103474905core:AfterOneYear2022-12-3103474905core:Non-currentFinancialInstruments2023-12-3103474905core:Non-currentFinancialInstruments2022-12-3103474905bus:PrivateLimitedCompanyLtd2023-01-012023-12-3103474905bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103474905bus:FRS1022023-01-012023-12-3103474905bus:AuditExemptWithAccountantsReport2023-01-012023-12-3103474905bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP