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Registered number: 04408516
Cam-C Engineering Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04408516
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 5,069 4,318
5,069 4,318
CURRENT ASSETS
Stocks 6 - 1,000
Debtors 7 7,176 12,447
Cash at bank and in hand 13,793 24,548
20,969 37,995
Creditors: Amounts Falling Due Within One Year 8 (119,766 ) (67,554 )
NET CURRENT ASSETS (LIABILITIES) (98,797 ) (29,559 )
TOTAL ASSETS LESS CURRENT LIABILITIES (93,728 ) (25,241 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,025 ) (5,025 )
NET LIABILITIES (98,753 ) (30,266 )
CAPITAL AND RESERVES
Called up share capital 9 50 50
Capital redemption reserve 50 50
Profit and Loss Account (98,853 ) (30,366 )
SHAREHOLDERS' FUNDS (98,753) (30,266)
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Evans
Director
10 July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cam-C Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04408516 . The registered office is 18 Penmain Street, Mount Pleasant, Porth, Mid Glamorgan, CF39 0DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Straight line over the life of the lease
Plant & Machinery 15% reducing balance
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 4
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Manufacturing 3 3
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 1
As at 31 January 2024 1
Amortisation
As at 1 February 2023 1
As at 31 January 2024 1
Net Book Value
As at 31 January 2024 -
As at 1 February 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 February 2023 13,685 92,135 5,000 4,166 114,986
Additions - 5,000 - - 5,000
As at 31 January 2024 13,685 97,135 5,000 4,166 119,986
Depreciation
As at 1 February 2023 13,685 87,817 5,000 4,166 110,668
Provided during the period - 4,249 - - 4,249
As at 31 January 2024 13,685 92,066 5,000 4,166 114,917
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 January 2024 - 5,069 - - 5,069
As at 1 February 2023 - 4,318 - - 4,318
6. Stocks
2024 2023
£ £
Materials - 1,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 12,447
Corporation tax recoverable assets 5,934 -
VAT 1,242 -
7,176 12,447
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax - 917
Other taxes and social security 434 1,449
VAT - 7,682
Net wages - 38
Accruals and deferred income 3,894 3,414
Government grants within one year - -
Director's loan account 33,359 45,092
Amounts owed to group undertakings 82,079 8,962
119,766 67,554
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 50 50
Page 5