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Logo On Report
Registered Number: 13851402


 

 

 

CVD TECHNOLOGY LTD


Abridged Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts CVD Technology Ltd for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CVD Technology Ltd for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made solely to the Board of Directors of CVD Technology Ltd , as a body, in accordance with the terms of our engagement letter dated 24 July 2024. Our work has been undertaken solely to prepare for your approval the accounts of CVD Technology Ltd and state those matters that we have agreed to state to the Board of Directors of CVD Technology Ltd, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CVD Technology Ltd and its Board of Directors as a body for our work or for this report
It is your duty to ensure that CVD Technology Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit CVD Technology Ltd. You consider that CVD Technology Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of CVD Technology Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Rivington Accounts Ltd
Bank House
6-8 Church Street
Adlington
Lancashire
PR7 4EX
24 July 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 32,924    235 
Investments 4 1   
32,925    235 
Current assets      
Debtors 1,854    150 
Cash at bank and in hand 34,819    80,203 
36,673    80,353 
Creditors: amount falling due within one year (237)   (32,177)
Net current assets 36,436    48,176 
 
Total assets less current liabilities 69,361    48,411 
Provisions for liabilities (218)  
Net assets 69,143    48,411 
 

Capital and reserves
     
Called up share capital 10   
Profit and loss account 69,133    48,411 
Shareholders' funds 69,143    48,411 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 24 July 2024 and were signed by:


-------------------------------
Philip Evans
Director
2
General Information
CVD Technology Ltd is a private company, limited by shares, registered in , registration number 13851402, registration address Bank House 6-8 Church Street, Adlington, Chorley, Lancashire, PR7 4EX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 February 2023     313    313 
Additions 38,599    1,000      39,599 
Disposals      
At 31 January 2024 38,599    1,000    313    39,912 
Depreciation
At 01 February 2023     78    78 
Charge for year 6,821    30    59    6,910 
On disposals      
At 31 January 2024 6,821    30    137    6,988 
Net book values
Closing balance as at 31 January 2024 31,778    970    176    32,924 
Opening balance as at 01 February 2023     235    235 


4.

Investments

Cost Investments in group undertakings   Total
  £   £
At 01 February 2023  
Additions 1    1 
Transfer to/from tangible fixed assets  
Disposals  
At 31 January 2024 1    1 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
CVD PROCESS ENGINEERING LIMITED50,000 

CVD TECHNOLOGY LIMITED is a 50% shareholder in CVD PROCESS ENGINEERING LIMITED. Director Phil Evans is also a director of CVD PROCESS ENGINEERING LIMITED. During the year a £50,000 dividend was paid to CVD TECHNOLOGY LIMITED from CVD PROCESS ENGINEERING LIMITED.
3