2023-01-012023-12-312023-12-31false11393836CES ADVANCED COMPOSITES UK 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CES ADVANCED COMPOSITES UK LTD

Registered Number
11393836
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

CES ADVANCED COMPOSITES UK LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Yuksel Acik
Damla Sen

Registered Address

3, Blake House
Admirals Way
London
E14 9UJ

Registered Number

11393836 (England and Wales)
CES ADVANCED COMPOSITES UK LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets471,086526,882
Investments5,0001,185,795
476,0861,712,677
Current assets
Stocks3268,886320,454
Debtors2,582,784860,013
Cash at bank and on hand121,656394,792
2,973,3261,575,259
Creditors amounts falling due within one year4(2,452,801)(3,962,038)
Net current assets (liabilities)520,525(2,386,779)
Total assets less current liabilities996,611(674,102)
Creditors amounts falling due after one year5(732,721)-
Provisions for liabilities6(11,226)(10,793)
Net assets252,664(684,895)
Capital and reserves
Called up share capital867,100100
Profit and loss account(614,436)(684,995)
Shareholders' funds252,664(684,895)
The financial statements were approved and authorised for issue by the Board of Directors on 22 August 2024, and are signed on its behalf by:
Yuksel Acik
Director
Registered Company No. 11393836
CES ADVANCED COMPOSITES UK LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year106
3.Stocks

2023

2022

££
Finished goods268,886320,454
Total268,886320,454
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables2,126,8823,766,829
Taxation and social security143,06112,351
Other creditors182,858182,858
Total2,452,8013,962,038
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2023

2022

££
Other creditors732,721-
Total732,721-
6.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)11,22610,793
Total11,22610,793