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REGISTERED NUMBER: SC276517 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Custom & Contract Power Solutions Ltd

Custom & Contract Power Solutions Ltd (Registered number: SC276517)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Custom & Contract Power Solutions Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: George Fry
Angela Elizabeth Margaret Fry
Dennis Malcolm Jones
Jean Frances Jones
Nigel Scott
Mark T Jones





SECRETARY: Jean Frances Jones





REGISTERED OFFICE: 1 Craigmyle Gardens
Clovenfords
Galashiels
TD1 3LP





REGISTERED NUMBER: SC276517 (Scotland)





ACCOUNTANT: EQ Chartered Accountants
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Custom & Contract Power Solutions Ltd (Registered number: SC276517)

Statement of Financial Position
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 3 12,910 19,282

CURRENT ASSETS
Inventories 14,799 10,851
Debtors 4 19,936 287,925
Cash at bank 815,595 370,022
850,330 668,798
CREDITORS
Amounts falling due within one year 5 79,743 126,835
NET CURRENT ASSETS 770,587 541,963
TOTAL ASSETS LESS CURRENT
LIABILITIES

783,497

561,245

PROVISIONS FOR LIABILITIES 3,000 3,500
NET ASSETS 780,497 557,745

CAPITAL AND RESERVES
Called up share capital 450 450
Retained earnings 780,047 557,295
SHAREHOLDERS' FUNDS 780,497 557,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 & Contract Power Solutions Ltd (Registered number: SC276517)

Statement of Financial Position - continued
31 December 2023


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

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 29 August 2024 and were signed on its behalf by:




Dennis Malcolm Jones - Director



George Fry - Director


Custom & Contract Power Solutions Ltd (Registered number: SC276517)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. 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.

The directors are of the opinion that the company can continue to meet its obligations as they fall due for the foreseeable future. As a consequence the directors have prepared the financial statements on the going concern basis.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

Custom & Contract Power Solutions Ltd (Registered number: SC276517)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 January 2023 47,361
Disposals (6,537 )
At 31 December 2023 40,824
DEPRECIATION
At 1 January 2023 28,079
Charge for year 4,303
Eliminated on disposal (4,468 )
At 31 December 2023 27,914
NET BOOK VALUE
At 31 December 2023 12,910
At 31 December 2022 19,282

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 16,061 259,637
Other debtors 3,875 28,288
19,936 287,925

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 588 22,559
Taxation and social security 77,370 102,156
Other creditors 1,785 2,120
79,743 126,835