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Registration number: 08278436

CEEP Connectors Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

CEEP Connectors Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

CEEP Connectors Limited

Company Information

Director

Mr A D King

Registered office

Unit 4, Rake Heath House
London Road
Hill Brow
Liss
Hampshire
GU33 7NT

Accountants

A J Wheeler Ltd - Trading as Howard Smith & Co
Chartered Certified Accountants
338 London Road
Portsmouth
Hampshire
PO2 9JY

 

CEEP Connectors Limited

(Registration number: 08278436)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

4,858

4,095

Current assets

 

Stocks

6

69,117

64,265

Debtors

7

74,574

60,700

Cash at bank and in hand

 

107,533

109,896

 

251,224

234,861

Creditors: Amounts falling due within one year

8

(42,323)

(37,381)

Net current assets

 

208,901

197,480

Total assets less current liabilities

 

213,759

201,575

Creditors: Amounts falling due after more than one year

8

(31,941)

(37,500)

Provisions for liabilities

(923)

(778)

Net assets

 

180,895

163,297

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

179,895

162,297

Shareholders' funds

 

180,895

163,297

For the financial year ending 30 November 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 August 2024
 

 

CEEP Connectors Limited

(Registration number: 08278436)
Balance Sheet as at 30 November 2023

.........................................
Mr A D King
Director

 

CEEP Connectors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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:
Unit 4, Rake Heath House
London Road
Hill Brow
Liss
Hampshire
GU33 7NT

These financial statements were authorised for issue by the director on 27 August 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.

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 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 the company's activities.

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 measured in terms of historical cost in a foreign currency are not retranslated.

 

CEEP Connectors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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

25% on reducing basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Other intangible assets

20% straight line

 

CEEP Connectors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

Borrowings

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.

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 the director) during the year, was 2 (2022 - 2).

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 December 2022

2,565

2,565

At 30 November 2023

2,565

2,565

Amortisation

At 1 December 2022

2,565

2,565

At 30 November 2023

2,565

2,565

Carrying amount

At 30 November 2023

-

-

 

CEEP Connectors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 December 2022

6,769

6,769

Additions

2,383

2,383

At 30 November 2023

9,152

9,152

Depreciation

At 1 December 2022

2,674

2,674

Charge for the year

1,620

1,620

At 30 November 2023

4,294

4,294

Carrying amount

At 30 November 2023

4,858

4,858

At 30 November 2022

4,095

4,095

6

stocks

2023
£

2022
£

Other inventories

69,117

64,265

7

Debtors

Current

2023
£

2022
£

Trade debtors

71,277

57,412

Prepayments

1,376

2,008

Other debtors

1,921

1,280

 

74,574

60,700

 

CEEP Connectors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

5,556

5,556

Trade creditors

 

13,497

13,813

Taxation and social security

 

14,830

15,779

Accruals and deferred income

 

2,344

2,233

Other creditors

 

6,096

-

 

42,323

37,381

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

31,941

37,500

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

31,941

37,500

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,556

5,556

Bank borrowings

Bounce Back Loan is denominated in pounds sterling with a nominal interest rate of 2.50%, and the final instalment is due on 3 November 2029. The carrying amount at year end is £37,497 (2022 - £43,056).

 

CEEP Connectors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

10

Related party transactions

Transactions with the director

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr A D King

Loan to director

1,280

2,141

(1,500)

1,921

         
       

 

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Mr A D King

Loan to director

1,516

1,850

(2,086)

1,280

         
       

 

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,168

12,168

Contributions paid to money purchase schemes

178

178

12,346

12,346