Central Conveyor Belting Services Ltd 02011547 false 2023-01-01 2024-03-31 2024-03-31 The principal activity of the company is Repair of Machinery Digita Accounts Production Advanced 6.30.9574.0 true false true 02011547 2023-01-01 2024-03-31 02011547 2024-03-31 02011547 bus:OrdinaryShareClass1 2024-03-31 02011547 bus:OrdinaryShareClass2 2024-03-31 02011547 core:CurrentFinancialInstruments 2024-03-31 02011547 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 02011547 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 02011547 core:CostValuation 2024-03-31 02011547 core:DisposalsDecreaseInInvestments 2024-03-31 02011547 core:FurnitureFittingsToolsEquipment 2024-03-31 02011547 core:LandBuildings 2024-03-31 02011547 core:MotorVehicles 2024-03-31 02011547 bus:SmallEntities 2023-01-01 2024-03-31 02011547 bus:AuditExemptWithAccountantsReport 2023-01-01 2024-03-31 02011547 bus:FilletedAccounts 2023-01-01 2024-03-31 02011547 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2024-03-31 02011547 bus:RegisteredOffice 2023-01-01 2024-03-31 02011547 bus:Director1 2023-01-01 2024-03-31 02011547 bus:Director2 2023-01-01 2024-03-31 02011547 bus:Director3 2023-01-01 2024-03-31 02011547 bus:Director4 2023-01-01 2024-03-31 02011547 bus:OrdinaryShareClass1 2023-01-01 2024-03-31 02011547 bus:OrdinaryShareClass2 2023-01-01 2024-03-31 02011547 bus:PrivateLimitedCompanyLtd 2023-01-01 2024-03-31 02011547 core:FurnitureFittingsToolsEquipment 2023-01-01 2024-03-31 02011547 core:LandBuildings 2023-01-01 2024-03-31 02011547 core:LeaseholdImprovements 2023-01-01 2024-03-31 02011547 core:MotorVehicles 2023-01-01 2024-03-31 02011547 core:OfficeEquipment 2023-01-01 2024-03-31 02011547 core:PlantMachinery 2023-01-01 2024-03-31 02011547 countries:EnglandWales 2023-01-01 2024-03-31 02011547 2022-12-31 02011547 core:CostValuation 2022-12-31 02011547 core:FurnitureFittingsToolsEquipment 2022-12-31 02011547 core:LandBuildings 2022-12-31 02011547 core:MotorVehicles 2022-12-31 02011547 2022-01-01 2022-12-31 02011547 2022-12-31 02011547 bus:OrdinaryShareClass1 2022-12-31 02011547 bus:OrdinaryShareClass2 2022-12-31 02011547 core:CurrentFinancialInstruments 2022-12-31 02011547 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 02011547 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 02011547 core:FurnitureFittingsToolsEquipment 2022-12-31 02011547 core:LandBuildings 2022-12-31 02011547 core:MotorVehicles 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02011547

Central Conveyor Belting Services Ltd

Unaudited Filleted Financial Statements

for the Period from 1 January 2023 to 31 March 2024

 

Central Conveyor Belting Services Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Central Conveyor Belting Services Ltd

Company Information

Directors

Mr Stephen Anthony Hobbs

Mrs Lucie Hobbs

Mr Jeffery James Knight

Mrs Elaine Mary Knight

Registered office

Lindenmuth House
37 Greenham Business Park
Greenham
Thatcham
Berkshire
RG19 6HW

Accountants

Opus Accounting Limited
Chartered Certified Accountants
Lindenmuth House
37 Greenham Business Park
Greenham
Thatcham
Berkshire
RG19 6HW

 

Central Conveyor Belting Services Ltd

(Registration number: 02011547)
Balance Sheet as at 31 March 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

4

176,063

144,445

Investments

5

-

10,000

 

176,063

154,445

Current assets

 

Stocks

6

72,011

53,887

Debtors

7

256,314

391,649

Cash at bank and in hand

 

704,163

649,067

 

1,032,488

1,094,603

Creditors: Amounts falling due within one year

8

(480,432)

(464,086)

Net current assets

 

552,056

630,517

Total assets less current liabilities

 

728,119

784,962

Creditors: Amounts falling due after more than one year

8

(77,953)

(77,098)

Provisions for liabilities

(41,466)

(25,972)

Net assets

 

608,700

681,892

Capital and reserves

 

Called up share capital

9

1,020

1,020

Retained earnings

607,680

680,872

Shareholders' funds

 

608,700

681,892

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 July 2024 and signed on its behalf by:
 

 

Central Conveyor Belting Services Ltd

(Registration number: 02011547)
Balance Sheet as at 31 March 2024 (continued)

.........................................
Mr Jeffery James Knight
Director

 

Central Conveyor Belting Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lindenmuth House
37 Greenham Business Park
Greenham
Thatcham
Berkshire
RG19 6HW
England

The principal place of business is:
Unit 16 Pipers Industrial Estate
Pipers Lane
Thatcham
Berkshire
RG19 4NA

These financial statements were authorised for issue by the Board on 25 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Central Conveyor Belting Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024 (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15 % on cost

Office equipment

15 % on cost

Motor vehicles

25 % on cost

Short Leasehold

10 % on cost

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Central Conveyor Belting Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024 (continued)

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Central Conveyor Belting Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024 (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 14 (2022 - 13).

 

Central Conveyor Belting Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024 (continued)

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

15,524

248,574

231,773

495,871

Additions

-

4,658

120,030

124,688

Disposals

-

-

(72,672)

(72,672)

At 31 March 2024

15,524

253,232

279,131

547,887

Depreciation

At 1 January 2023

7,772

208,574

135,080

351,426

Charge for the period

1,552

9,869

81,649

93,070

Eliminated on disposal

-

-

(72,672)

(72,672)

At 31 March 2024

9,324

218,443

144,057

371,824

Carrying amount

At 31 March 2024

6,200

34,789

135,074

176,063

At 31 December 2022

7,752

40,000

96,693

144,445

Included within the net book value of land and buildings above is £6,200 (2022 - £7,752) in respect of short leasehold land and buildings.
 

5

Investments

2024
£

2022
£

Investments in subsidiaries

-

10,000

Subsidiaries

£

Cost or valuation

At 1 January 2023

10,000

Disposals

(10,000)

At 31 March 2024

-

Provision

Carrying amount

At 31 March 2024

-

At 31 December 2022

10,000

 

Central Conveyor Belting Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024 (continued)

6

Stocks

2024
£

2022
£

Other inventories

72,011

53,887

7

Debtors

Current

2024
£

2022
£

Trade debtors

241,252

372,651

Prepayments

14,073

18,998

Other debtors

989

-

 

256,314

391,649

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2022
£

Due within one year

 

Loans and borrowings

45,850

46,225

Trade creditors

 

248,169

223,096

Taxation and social security

 

163,675

119,609

Accruals and deferred income

 

4,200

5,560

Other creditors

 

18,538

69,596

 

480,432

464,086

Creditors: amounts falling due after more than one year

Note

2024
£

2022
£

Due after one year

 

Loans and borrowings

77,953

77,098

 

Central Conveyor Belting Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024 (continued)

9

Share capital

Allotted, called up and fully paid shares

2024

2022

No.

£

No.

£

Ordinary A of £1 each

1,000

1,000

1,000

1,000

Ordinary B of £0.10 each

200

20

200

20

1,200

1,020

1,200

1,020