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REGISTERED NUMBER: 06335216 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

CAMBRIDGE TRANSFORMERS LIMITED

CAMBRIDGE TRANSFORMERS LIMITED (REGISTERED NUMBER: 06335216)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CAMBRIDGE TRANSFORMERS LIMITED

COMPANY INFORMATION
For The Year Ended 31 October 2023







DIRECTOR: R M Lovesy





SECRETARY: E A Lovesy





REGISTERED OFFICE: 54 Elm Drive
St Ives
Cambridgeshire
PE27 6UA





REGISTERED NUMBER: 06335216 (England and Wales)





ACCOUNTANTS: TC CH Limited
4 Office Village
Forder Way
Cygnet Park, Hampton
Peterborough
Cambridgeshire
PE7 8GX

CAMBRIDGE TRANSFORMERS LIMITED (REGISTERED NUMBER: 06335216)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 7,246 8,329

CURRENT ASSETS
Debtors 6 4,434 51,484
Cash at bank 306,211 336,899
310,645 388,383
CREDITORS
Amounts falling due within one year 7 37,982 59,787
NET CURRENT ASSETS 272,663 328,596
TOTAL ASSETS LESS CURRENT LIABILITIES 279,909 336,925

PROVISIONS FOR LIABILITIES 8 1,377 1,583
NET ASSETS 278,532 335,342

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 278,432 335,242
SHAREHOLDERS' FUNDS 278,532 335,342

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 30 July 2024 and were signed by:





R M Lovesy - Director


CAMBRIDGE TRANSFORMERS LIMITED (REGISTERED NUMBER: 06335216)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 October 2023


1. STATUTORY INFORMATION

Cambridge Transformers 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

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 - 5% on cost
Plant and machinery - 20% on reducing balance

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

CAMBRIDGE TRANSFORMERS LIMITED (REGISTERED NUMBER: 06335216)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 October 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

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.

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.

Debtors
Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. 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.

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

CAMBRIDGE TRANSFORMERS LIMITED (REGISTERED NUMBER: 06335216)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 October 2023


5. TANGIBLE FIXED ASSETS
Long Plant and
leasehold machinery Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 18,912 1,812 20,724
DEPRECIATION
At 1 November 2022 11,268 1,127 12,395
Charge for year 946 137 1,083
At 31 October 2023 12,214 1,264 13,478
NET BOOK VALUE
At 31 October 2023 6,698 548 7,246
At 31 October 2022 7,644 685 8,329

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Deferred consideration - 51,438
Tax 4,434 -
Prepayments and accrued income - 46
4,434 51,484

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 7
Corporation tax - 14,351
Social security and other taxes - (165 )
Pension contributions payable - 3,244
VAT - 194
Directors' current accounts 36,532 40,741
Accrued expenses 1,450 1,415
37,982 59,787

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,377 1,583

Deferred
tax
£   
Balance at 1 November 2022 1,583
Credit to Income Statement during year (206 )
Balance at 31 October 2023 1,377

CAMBRIDGE TRANSFORMERS LIMITED (REGISTERED NUMBER: 06335216)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 October 2023


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £0.10 100 100

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £28,129 (2022 - £37,243) were paid to the director .

Included in creditors is an amount owed to the director, Mr R M Lovesy, of £36,532 (2022: £40,741). This loan is interest free and repayable on demand

11. ULTIMATE CONTROLLING PARTY

The controlling party is R M Lovesy by virtue of his ownership of the issued ordinary share capital.