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REGISTERED NUMBER: 01712515 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

C. Y. FINISHES LIMITED

C. Y. FINISHES LIMITED (REGISTERED NUMBER: 01712515)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C. Y. FINISHES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: I C Passey





SECRETARY: Mrs G Passey





REGISTERED OFFICE: 25 St Thomas Street
Winchester
Hampshire
SO23 9HJ





REGISTERED NUMBER: 01712515 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

C. Y. FINISHES LIMITED (REGISTERED NUMBER: 01712515)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,187 12,586

CURRENT ASSETS
Stocks 11,651 10,951
Debtors 5 489,876 460,134
Cash at bank 9,151 15,210
510,678 486,295
CREDITORS
Amounts falling due within one year 6 163,384 138,978
NET CURRENT ASSETS 347,294 347,317
TOTAL ASSETS LESS CURRENT
LIABILITIES

355,481

359,903

CREDITORS
Amounts falling due after more than one
year

7

15,224

26,396
NET ASSETS 340,257 333,507

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Share premium 10,000 10,000
Capital redemption reserve 30,000 30,000
Retained earnings 270,257 263,507
SHAREHOLDERS' FUNDS 340,257 333,507

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

C. Y. FINISHES LIMITED (REGISTERED NUMBER: 01712515)

BALANCE SHEET - continued
30 APRIL 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2024 and were signed by:





I C Passey - Director


C. Y. FINISHES LIMITED (REGISTERED NUMBER: 01712515)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

C. Y. Finishes 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.

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.
Short leasehold - 16.6% on cost
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

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 Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

C. Y. FINISHES LIMITED (REGISTERED NUMBER: 01712515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 May 2023
and 30 April 2024 8,388 2,122 349,304
DEPRECIATION
At 1 May 2023 8,388 2,122 336,723
Charge for year - - 4,399
At 30 April 2024 8,388 2,122 341,122
NET BOOK VALUE
At 30 April 2024 - - 8,182
At 30 April 2023 - - 12,581

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 26,785 4,585 391,184
DEPRECIATION
At 1 May 2023 26,784 4,581 378,598
Charge for year - - 4,399
At 30 April 2024 26,784 4,581 382,997
NET BOOK VALUE
At 30 April 2024 1 4 8,187
At 30 April 2023 1 4 12,586

C. Y. FINISHES LIMITED (REGISTERED NUMBER: 01712515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 90,389 97,818
Amounts owed by group undertakings 349,969 323,373
Other debtors 11,239 4,932
Prepayments 38,279 34,011
489,876 460,134

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 1,671 19,243
Hire purchase contracts 1,854 1,854
Trade creditors 80,299 67,708
Amounts owed to group undertakings 41,000 -
Tax 2,765 6,387
Social security and other taxes 5,677 6,571
VAT 12,159 16,228
Other creditors 1,459 1,487
Accruals and deferred income 6,500 9,500
163,384 138,978

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 1,515 10,833
Hire purchase contracts 3,709 5,563
15,224 26,396

8. RELATED PARTY DISCLOSURES

The company has made / received interest free loans to the following group companies at 30 April 2024:

Ipera Coatings Limited - Debtor £349,969 (2023: £318,373).
CY Sheet Metal Limited - Creditor £41,000 (2023: Debtor - £5,000).

9. ULTIMATE CONTROLLING PARTY

The controlling party is Ipera Coatings Limited.

The ultimate controlling party is I C Passey.