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REGISTERED NUMBER: 07278411 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

CUSTOM WORLD DORSET LIMITED

CUSTOM WORLD DORSET LIMITED (REGISTERED NUMBER: 07278411)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CUSTOM WORLD DORSET LIMITED

COMPANY INFORMATION
for the Year Ended 31ST DECEMBER 2023







DIRECTORS: S D Hire
F Hyka





REGISTERED OFFICE: 38 Cobham Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7NP





REGISTERED NUMBER: 07278411 (England and Wales)





ACCOUNTANTS: Underwood Barron LLP
Monks Brook House
13 - 17 Hursley Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2FW

CUSTOM WORLD DORSET LIMITED (REGISTERED NUMBER: 07278411)

BALANCE SHEET
31ST DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 45,658 56,964
45,658 56,964

CURRENT ASSETS
Stocks 20,940 28,407
Debtors 6 200,547 222,242
Cash at bank and in hand 10,960 43,376
232,447 294,025
CREDITORS
Amounts falling due within one year 7 146,831 175,060
NET CURRENT ASSETS 85,616 118,965
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,274

175,929

CREDITORS
Amounts falling due after more than one year 8 (9,113 ) (30,964 )

PROVISIONS FOR LIABILITIES (9,772 ) (9,301 )
NET ASSETS 112,389 135,664

CAPITAL AND RESERVES
Called up share capital 120 120
Share premium 79,980 79,980
Retained earnings 32,289 55,564
SHAREHOLDERS' FUNDS 112,389 135,664

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.

CUSTOM WORLD DORSET LIMITED (REGISTERED NUMBER: 07278411)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th June 2024 and were signed on its behalf by:




S D Hire - Director



F Hyka - Director


CUSTOM WORLD DORSET LIMITED (REGISTERED NUMBER: 07278411)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Custom World Dorset Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents the amount derived from the ordinary activities of the company, excluding value added tax.

Goodwill
Goodwill is being amortised evenly over its estimated useful life of 10 years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost, 20% on reducing balance, 15% on reducing balance and 15% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

CUSTOM WORLD DORSET LIMITED (REGISTERED NUMBER: 07278411)

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 the 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 paid 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 250,000
AMORTISATION
At 1st January 2023
and 31st December 2023 250,000
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023 140,114
Disposals (996 )
At 31st December 2023 139,118
DEPRECIATION
At 1st January 2023 83,150
Charge for year 11,306
Eliminated on disposal (996 )
At 31st December 2023 93,460
NET BOOK VALUE
At 31st December 2023 45,658
At 31st December 2022 56,964

CUSTOM WORLD DORSET LIMITED (REGISTERED NUMBER: 07278411)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST DECEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st January 2023 50,325
Transfer to ownership (26,500 )
At 31st December 2023 23,825
DEPRECIATION
At 1st January 2023 27,384
Charge for year 2,408
Transfer to ownership (13,190 )
At 31st December 2023 16,602
NET BOOK VALUE
At 31st December 2023 7,223
At 31st December 2022 22,941

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,626 3,533
Amounts owed by group undertakings 109,240 120,224
Other debtors 89,681 98,485
200,547 222,242

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 17,500 17,500
Hire purchase contracts (see note 9) 4,352 8,318
Trade creditors 41,283 58,243
Taxation and social security 59,137 67,155
Other creditors 24,559 23,844
146,831 175,060

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 8,750 26,250
Hire purchase contracts (see note 9) 363 4,714
9,113 30,964

CUSTOM WORLD DORSET LIMITED (REGISTERED NUMBER: 07278411)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST DECEMBER 2023

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 4,352 8,318
Between one and five years 363 4,714
4,715 13,032

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 9,939 21,636