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REGISTERED NUMBER: 04238584 (England and Wales)


















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Custom Electronics Holdings Ltd

Custom Electronics Holdings Ltd (Registered number: 04238584)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Custom Electronics Holdings Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr R S Banks
Mr P Banks
Ms V L Leptourgos





SECRETARY: Mr R S Banks





REGISTERED OFFICE: Brigham House
93 High Street
Biggleswade
Bedfordshire
SG18 0LD





REGISTERED NUMBER: 04238584 (England and Wales)





ACCOUNTANTS: George Hay Partnership LLP
Chartered Accountants
Brigham House
High Street
Biggleswade
Bedfordshire
SG18 0LD

Custom Electronics Holdings Ltd (Registered number: 04238584)

Abridged Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 479 1
Investments 5 600 600
Investment property 6 700,000 700,000
701,079 700,601

CURRENT ASSETS
Debtors 27,781 347,233
Cash at bank 299,117 20,585
326,898 367,818
CREDITORS
Amounts falling due within one year 54,976 83,912
NET CURRENT ASSETS 271,922 283,906
TOTAL ASSETS LESS CURRENT
LIABILITIES

973,001

984,507

PROVISIONS FOR LIABILITIES 90,700 68,900
NET ASSETS 882,301 915,607

CAPITAL AND RESERVES
Called up share capital 7 600 600
Fair value reserve 411,869 433,669
Retained earnings 469,832 481,338
SHAREHOLDERS' FUNDS 882,301 915,607

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Custom Electronics Holdings Ltd (Registered number: 04238584)

Abridged Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 July 2024 and were signed on its behalf by:





Mr R S Banks - Director


Custom Electronics Holdings Ltd (Registered number: 04238584)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Custom Electronics Holdings Ltd 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Custom Electronics Holdings Ltd (Registered number: 04238584)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 7,067
Additions 541
At 31 March 2024 7,608
DEPRECIATION
At 1 April 2023 7,066
Charge for year 63
At 31 March 2024 7,129
NET BOOK VALUE
At 31 March 2024 479
At 31 March 2023 1

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2023
and 31 March 2024 600
NET BOOK VALUE
At 31 March 2024 600
At 31 March 2023 600

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 700,000
NET BOOK VALUE
At 31 March 2024 700,000
At 31 March 2023 700,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2016 402,569
Valuation in 2022 100,000
Cost 197,431
700,000

Custom Electronics Holdings Ltd (Registered number: 04238584)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 197,431 197,431

Investment property was valued on an open market basis on 31 March 2023 by the directors .

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
600 Ordinary £1 600 600