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REGISTERED NUMBER: 08520648 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023

FOR

COMPANY FOR ELECTRONIC INDUSTRIAL
AUTOMATION (CEIA) LIMITED

COMPANY FOR ELECTRONIC INDUSTRIAL
AUTOMATION (CEIA) LIMITED (REGISTERED NUMBER: 08520648)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


COMPANY FOR ELECTRONIC INDUSTRIAL
AUTOMATION (CEIA) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







Director: J Cook



Secretary: Athos Business Solutions Limited



Registered office: 1623 Warwick Road
Knowle
Solihull
West Midlands
B93 9LF



Registered number: 08520648 (England and Wales)



Auditors: Derek Young & Co Accountants LLP
Charetered Accountants
Estate House
Evesham Street
Worcestershire
B97 4HP



Accountants: Athos Business Solutions Limited
1623 Warwick Road
Knowle
Solihull
West Midlands
B93 9LF

COMPANY FOR ELECTRONIC INDUSTRIAL
AUTOMATION (CEIA) LIMITED (REGISTERED NUMBER: 08520648)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,417,926 1,458,842

CURRENT ASSETS
Stocks 1,063,460 548,430
Debtors 5 936,120 146,785
Cash at bank and in hand 5,272,470 2,379,064
7,272,050 3,074,279
CREDITORS
Amounts falling due within one year 6 3,796,919 698,933
NET CURRENT ASSETS 3,475,131 2,375,346
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,893,057

3,834,188

CREDITORS
Amounts falling due after more than one
year

7

-

(176,515

)

PROVISIONS FOR LIABILITIES (10,654 ) (9,404 )
NET ASSETS 4,882,403 3,648,269

CAPITAL AND RESERVES
Called up share capital 605,000 605,000
Retained earnings 4,277,403 3,043,269
4,882,403 3,648,269

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 director and authorised for issue on 2 April 2024 and were signed by:



J Cook - Director


COMPANY FOR ELECTRONIC INDUSTRIAL
AUTOMATION (CEIA) LIMITED (REGISTERED NUMBER: 08520648)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Company For Electronic Industrial Automation (CEIA) 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions between group companies.

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.
Long leasehold - 2% on cost
Improvements to property - 2% on cost
Plant and machinery - 20% on cost
Fixtures & Fittings - 20% on cost
Motor vehicles - 20% on cost
Office equipment - 25% on cost

Tangible fixed assets are stated at cost less depreciation.

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 Income Statement, 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.


COMPANY FOR ELECTRONIC INDUSTRIAL
AUTOMATION (CEIA) LIMITED (REGISTERED NUMBER: 08520648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

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.

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

COMPANY FOR ELECTRONIC INDUSTRIAL
AUTOMATION (CEIA) LIMITED (REGISTERED NUMBER: 08520648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
Cost
At 1 January 2023 1,267,404 271,391 12,257
Additions - - 593
Disposals - - -
At 31 December 2023 1,267,404 271,391 12,850
Depreciation
At 1 January 2023 135,150 25,097 9,175
Charge for year 25,348 5,428 1,046
Eliminated on disposal - - -
At 31 December 2023 160,498 30,525 10,221
Net book value
At 31 December 2023 1,106,906 240,866 2,629
At 31 December 2022 1,132,254 246,294 3,082

Fixtures Motor Office
& Fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 January 2023 134,579 123,180 65,422 1,874,233
Additions - 35,567 1,225 37,385
Disposals - (25,525 ) - (25,525 )
At 31 December 2023 134,579 133,222 66,647 1,886,093
Depreciation
At 1 January 2023 120,333 82,662 42,974 415,391
Charge for year 13,128 25,459 7,892 78,301
Eliminated on disposal - (25,525 ) - (25,525 )
At 31 December 2023 133,461 82,596 50,866 468,167
Net book value
At 31 December 2023 1,118 50,626 15,781 1,417,926
At 31 December 2022 14,246 40,518 22,448 1,458,842

COMPANY FOR ELECTRONIC INDUSTRIAL
AUTOMATION (CEIA) LIMITED (REGISTERED NUMBER: 08520648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 820,810 31,981
Other debtors 115,310 114,804
936,120 146,785

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 177,824 324,325
Trade creditors 27,620 13,364
Amounts owed to group undertakings 1,141,952 48,475
Taxation and social security 841,304 205,390
Other creditors 1,608,219 107,379
3,796,919 698,933

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 176,515

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 103,131

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 14,496 -
Between one and five years 32,498 30,092
46,994 30,092

COMPANY FOR ELECTRONIC INDUSTRIAL
AUTOMATION (CEIA) LIMITED (REGISTERED NUMBER: 08520648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 177,824 500,840

Lloyds Bank PLC holds a fixed & floating charge dated 10 July 2017 over all property & assets present & future, including goodwill, book debts, uncalled capital, buildings, fixtures & fixed plant & machinery and a general pledge.

The bank also holds a 1st legal charge dated 08 September 2017 over the leasehold property known as Unit 7 Adams Way, Springfield Business Park, Alcester.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

Stephen Young BSc FCA (Senior Statutory Auditor)
for and on behalf of Derek Young & Co Accountants LLP

11. ULTIMATE CONTROLLING PARTY

The company is under the control of Costruzioni Elettroniche Industriali Automatismi S.p.A. C.E.I.A. S.p.A. by virtue of a controlling interest of 100% of the issued ordinary share capital.

Copies of the parent company's financial statements can be obtained from Costruzioni Elettroniche Industriali Automatismi S.p.A, Zona Industriale, 54, 52041, Viciomaggio AR, Italy.

The ultimate parent company is CEIA di Manneschi Giovanni & Benedetti Rosanna S.R.L.

The director does not consider there to be any single controlling party.