11 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 03134610 2023-01-01 2023-12-31 03134610 2023-12-31 03134610 2022-12-31 03134610 2022-01-01 2022-12-31 03134610 2022-12-31 03134610 2021-12-31 03134610 core:FurnitureFittings 2023-01-01 2023-12-31 03134610 bus:LeadAgentIfApplicable 2023-01-01 2023-12-31 03134610 bus:Director1 2023-01-01 2023-12-31 03134610 core:PlantMachinery 2022-12-31 03134610 core:FurnitureFittings 2022-12-31 03134610 core:MotorVehicles 2022-12-31 03134610 core:PlantMachinery 2023-12-31 03134610 core:FurnitureFittings 2023-12-31 03134610 core:MotorVehicles 2023-12-31 03134610 core:PlantMachinery 2023-01-01 2023-12-31 03134610 core:MotorVehicles 2023-01-01 2023-12-31 03134610 core:WithinOneYear 2023-12-31 03134610 core:WithinOneYear 2022-12-31 03134610 core:AfterOneYear 2023-12-31 03134610 core:AfterOneYear 2022-12-31 03134610 core:ShareCapital 2023-12-31 03134610 core:ShareCapital 2022-12-31 03134610 core:RetainedEarningsAccumulatedLosses 2023-12-31 03134610 core:RetainedEarningsAccumulatedLosses 2022-12-31 03134610 core:PlantMachinery 2022-12-31 03134610 core:FurnitureFittings 2022-12-31 03134610 core:MotorVehicles 2022-12-31 03134610 bus:SmallEntities 2023-01-01 2023-12-31 03134610 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03134610 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03134610 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03134610 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 03134610
C.M.F. (Slough) Limited
Filleted Unaudited Financial Statements
Year ended
31 December 2023
C.M.F. (Slough) Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
C.M.F. (Slough) Limited
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of C.M.F. (Slough) Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of C.M.F. (Slough) Limited for the year ended 31 December 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
PORTER GARLAND Chartered accountants
Communication House Victoria Avenue Camberley Surrey GU15 3HX
17 June 2024
C.M.F. (Slough) Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
129,648
86,186
Current assets
Stocks
74,331
74,250
Debtors
6
164,306
163,121
Cash at bank and in hand
3,703
---------
---------
242,340
237,371
Creditors: amounts falling due within one year
7
298,673
233,440
---------
---------
Net current (liabilities)/assets
( 56,333)
3,931
---------
--------
Total assets less current liabilities
73,315
90,117
Creditors: amounts falling due after more than one year
8
15,868
25,617
--------
--------
Net assets
57,447
64,500
--------
--------
Capital and reserves
Called up share capital
2,000
2,000
Profit and loss account
55,447
62,500
--------
--------
Shareholders funds
57,447
64,500
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
C.M.F. (Slough) Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 17 June 2024 , and are signed on behalf of the board by:
Mr J Rouse
Director
Company registration number: 03134610
C.M.F. (Slough) Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 4, Priors Way Industrial Estate, Priors Way, Maidenhead, Berkshire, SL6 2HP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is dependent upon the continued support from its parent company. The parent company has confirmed their willingness to provide this continued support to the company for the foreseeable future and therefore the directors have prepared these financial statements on the going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
5% straight line (from 15% straight line)
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
10% straight line (from 25% reducing balance)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2022: 11 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023
150,526
45,406
22,690
218,622
Additions
11,445
2,272
13,717
Transfers
36,311
( 36,311)
---------
--------
--------
---------
At 31 December 2023
198,282
9,095
24,962
232,339
---------
--------
--------
---------
Depreciation
At 1 January 2023
96,631
15,194
20,611
132,436
Charge for the year
( 24,218)
177
( 5,704)
( 29,745)
Transfers
7,559
( 7,559)
---------
--------
--------
---------
At 31 December 2023
79,972
7,812
14,907
102,691
---------
--------
--------
---------
Carrying amount
At 31 December 2023
118,310
1,283
10,055
129,648
---------
--------
--------
---------
At 31 December 2022
53,895
30,212
2,079
86,186
---------
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
110,999
61,021
Amounts owed by group undertakings and undertakings in which the company has a participating interest
5,698
Other debtors
53,307
96,402
---------
---------
164,306
163,121
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
11,052
91,582
Trade creditors
107,730
79,992
Amounts owed to group undertakings and undertakings in which the company has a participating interest
4,420
Social security and other taxes
63,114
32,786
Other creditors
112,357
29,080
---------
---------
298,673
233,440
---------
---------
The company has granted a fixed and floating charge on its assets to secure a loan.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
15,868
25,617
--------
--------
9. Other financial commitments
The company had total guarantees and commitments at the year end of £613,008 (2022: £697,037).
10. Director's advances, credits and guarantees
The directors loan account is not disclosed as permitted under Section 1A of FRS 102.
11. Controlling party
The company is a wholly owned subsidiary of BRN Holdings Ltd. The Registered Office of the parent company is Communication House, Victoria Avenue, Camberley, Surrey GU15 3HX.