Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3132023-04-01falseNo description of principal activity3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03670181 2023-04-01 2024-03-31 03670181 2022-04-01 2023-03-31 03670181 2024-03-31 03670181 2023-03-31 03670181 c:Director1 2023-04-01 2024-03-31 03670181 d:PlantMachinery 2023-04-01 2024-03-31 03670181 d:PlantMachinery 2024-03-31 03670181 d:PlantMachinery 2023-03-31 03670181 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03670181 d:MotorVehicles 2023-04-01 2024-03-31 03670181 d:MotorVehicles 2024-03-31 03670181 d:MotorVehicles 2023-03-31 03670181 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03670181 d:FurnitureFittings 2023-04-01 2024-03-31 03670181 d:FurnitureFittings 2024-03-31 03670181 d:FurnitureFittings 2023-03-31 03670181 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03670181 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03670181 d:CurrentFinancialInstruments 2024-03-31 03670181 d:CurrentFinancialInstruments 2023-03-31 03670181 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03670181 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03670181 d:ShareCapital 2024-03-31 03670181 d:ShareCapital 2023-03-31 03670181 d:RetainedEarningsAccumulatedLosses 2024-03-31 03670181 d:RetainedEarningsAccumulatedLosses 2023-03-31 03670181 c:FRS102 2023-04-01 2024-03-31 03670181 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03670181 c:FullAccounts 2023-04-01 2024-03-31 03670181 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 03670181






COLCHESTER FAN SYSTEMS LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










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COLCHESTER FAN SYSTEMS LTD
REGISTERED NUMBER:03670181

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
1,511

  
-
1,511

Current assets
  

Stocks
  
-
2,700

Debtors: amounts falling due within one year
 5 
5,552
-

Cash at bank and in hand
 6 
11,453
52,352

  
17,005
55,052

Creditors: amounts falling due within one year
 7 
(4,354)
(18,734)

Net current assets
  
 
 
12,651
 
 
36,318

Total assets less current liabilities
  
12,651
37,829

  

Net assets
  
12,651
37,829


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
12,551
37,729

  
12,651
37,829


Page 1

 
COLCHESTER FAN SYSTEMS LTD
REGISTERED NUMBER:03670181
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M J Dutton
Director

Date: 23 April 2024

Page 2

 
COLCHESTER FAN SYSTEMS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Colchester Fan Systems Limited is a private company limited by shares, incorporated in England and Wales. It's registered office is Blower House, Sunnymead Farm Units, Alresford Road, Wivenhoe, Essex, CO7 9JZ.
The principal activity of the company continued to be that of the manufacture and supply of bespoke fan systems.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
COLCHESTER FAN SYSTEMS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
COLCHESTER FAN SYSTEMS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and on a reducing balance basis..

Depreciation is provided on the following basis:

Plant & machinery
-
25% of cost
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
COLCHESTER FAN SYSTEMS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance Sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 6

 
COLCHESTER FAN SYSTEMS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£





At 1 April 2023
18,866
18,281
9,917
47,064


Disposals
(18,866)
(18,281)
(9,917)
(47,064)



At 31 March 2024

-
-
-
-





At 1 April 2023
18,866
18,148
8,539
45,553


Charge for the year on owned assets
-
33
453
486


Disposals
(18,866)
(18,181)
(8,992)
(46,039)



At 31 March 2024

-
-
-
-



Net book value



At 31 March 2024
-
-
-
-



At 31 March 2023
-
133
1,378
1,511


5.


Debtors

2024
2023
£
£


Tax recoverable
5,552
-

5,552
-



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
11,453
52,352

11,453
52,352


Page 7

 
COLCHESTER FAN SYSTEMS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
1,191

Other taxation and social security
2,340
8,146

Other creditors
104
7,512

Accruals and deferred income
1,910
1,885

4,354
18,734


 
Page 8