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REGISTERED NUMBER: 04964265 (England and Wales)










CLASS OFFICE EQUIPMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






CLASS OFFICE EQUIPMENT LIMITED (REGISTERED NUMBER: 04964265)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 7


CLASS OFFICE EQUIPMENT LIMITED (REGISTERED NUMBER: 04964265)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 117,000 132,000
Tangible assets 5 43,576 68,395
160,576 200,395

CURRENT ASSETS
Stocks 1,526 2,478
Debtors 6 128,713 142,890
Cash at bank 60,172 43,392
190,411 188,760
CREDITORS
Amounts falling due within one year 7 205,154 148,970
NET CURRENT (LIABILITIES)/ASSETS (14,743 ) 39,790
TOTAL ASSETS LESS CURRENT LIABILITIES 145,833 240,185

CREDITORS
Amounts falling due after more than one year 8 21,300 49,864
NET ASSETS 124,533 190,321

CAPITAL AND RESERVES
Called up share capital 10 225 175
Retained earnings 124,308 190,146
SHAREHOLDERS' FUNDS 124,533 190,321

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

CLASS OFFICE EQUIPMENT LIMITED (REGISTERED NUMBER: 04964265)

BALANCE SHEET - continued
31ST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th August 2024 and were signed on its behalf by:




L D Kellett - Director



J M Kellett - Director


CLASS OFFICE EQUIPMENT LIMITED (REGISTERED NUMBER: 04964265)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Class Office Equipment Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04964265

Registered office: Unit 713a
Street 3
Thorp Arch Estate
Wetherby
LS23 7FY

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
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.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its useful life as follows:

Short leasehold- Over the lease term
Fixtures and fittings- 25% on reducing balance
Motor vehicles- 33% on reducing balance
Computer equipment- 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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

CLASS OFFICE EQUIPMENT LIMITED (REGISTERED NUMBER: 04964265)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals payable under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, was being amortised evenly over 50 years up to the year ended 31st December 2016. The policy was revised in the year ending 31st December 2017 and is now being written off at a rate of £15,000 per annum.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 300,000
AMORTISATION
At 1st January 2023 168,000
Charge for year 15,000
At 31st December 2023 183,000
NET BOOK VALUE
At 31st December 2023 117,000
At 31st December 2022 132,000

CLASS OFFICE EQUIPMENT LIMITED (REGISTERED NUMBER: 04964265)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st January 2023 6,427 20,914 64,905 10,878 103,124
Disposals - - (21,495 ) - (21,495 )
At 31st December 2023 6,427 20,914 43,410 10,878 81,629
DEPRECIATION
At 1st January 2023 6,427 15,898 5,669 6,735 34,729
Charge for year - 1,254 4,197 1,105 6,556
Eliminated on disposal - - (3,232 ) - (3,232 )
At 31st December 2023 6,427 17,152 6,634 7,840 38,053
NET BOOK VALUE
At 31st December 2023 - 3,762 36,776 3,038 43,576
At 31st December 2022 - 5,016 59,236 4,143 68,395

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st January 2023 45,164
Disposals (21,495 )
At 31st December 2023 23,669
DEPRECIATION
At 1st January 2023 3,921
Eliminated on disposal (3,232 )
At 31st December 2023 689
NET BOOK VALUE
At 31st December 2023 22,980
At 31st December 2022 41,243

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 128,713 142,890

CLASS OFFICE EQUIPMENT LIMITED (REGISTERED NUMBER: 04964265)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,000 12,000
Hire purchase contracts (see note 9) 4,334 8,003
Trade creditors 101,058 105,565
Taxation and social security 20,977 17,584
Other creditors 66,785 5,818
205,154 148,970

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 17,000 29,000
Hire purchase contracts (see note 9) 4,300 20,864
21,300 49,864

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 4,334 8,003
Between one and five years 4,300 20,864
8,634 28,867


Non-cancellableoperating leases
2023 2022
£ £
Within one year 5,937 7,917
Between one and two years - 5,937
5,937 13,854

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary "A" Shares £1 100 100
50 Ordinary "B" Shares £1 50 50
25 Ordinary "C" Shares £1 25 25
25 Ordinary "D" Shares £1 25 -
25 Ordinary "E" Shares £1 25 -
225 175

CLASS OFFICE EQUIPMENT LIMITED (REGISTERED NUMBER: 04964265)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


10. CALLED UP SHARE CAPITAL - continued

The following shares were issued during the year for cash at par :

25 Ordinary "D" Shares shares of £1
25 Ordinary "E" Shares shares of £1