Company Registration No. 12294830 (England and Wales)
Countrose Bearings Limited
Unaudited accounts
for the year ended 30 November 2023
Countrose Bearings Limited
Unaudited accounts
Contents
Countrose Bearings Limited
Company Information
for the year ended 30 November 2023
Director
Barry Ernest Robinson
Company Number
12294830 (England and Wales)
Registered Office
Registered Office
39 Knoll Drive
COVENTRY
West Midlands
CV3 5BU
England
Countrose Bearings Limited
Statement of financial position
as at 30 November 2023
Tangible assets
29,574
3,445
Cash at bank and in hand
118,803
157,650
Creditors: amounts falling due within one year
(17,704)
(12,194)
Net current assets
164,031
189,839
Net assets
193,605
193,284
Called up share capital
273
273
Share premium
199,932
199,932
Profit and loss account
(6,600)
(6,921)
Shareholders' funds
193,605
193,284
For the 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. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 August 2024 and were signed on its behalf by
Barry Ernest Robinson
Director
Company Registration No. 12294830
Countrose Bearings Limited
Notes to the Accounts
for the year ended 30 November 2023
Countrose Bearings Limited is a private company, limited by shares, registered in England and Wales, registration number 12294830. The registered office is Registered Office, 39 Knoll Drive, COVENTRY, West Midlands, CV3 5BU, England. The principal place of business is Silverthorne Lane , Cradely Heath , BIRMINGHAM, West Midlands, B64 5AP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 December 2022
2,850
595
3,445
Additions
25,982
147
26,129
At 30 November 2023
28,832
742
29,574
At 30 November 2023
28,832
742
29,574
At 30 November 2022
2,850
595
3,445
Countrose Bearings Limited
Notes to the Accounts
for the year ended 30 November 2023
Amounts falling due within one year
Trade debtors
13,619
11,439
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
14,248
11,860
Allotted, called up and fully paid:
273 Ordinary shares of £1 each
273
273
8
Capital commitments
2023
2022
Amounts contracted but not provided for in the accounts
80,000
100,000
The Company has entered in to a financial agreement to acquire certain Intellectual Property, Tooling, Equipment etc for £100,000.
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).