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REGISTERED NUMBER: 06736021 (England and Wales)











CHROME NICKEL
ALLOYS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






CHROME NICKEL
ALLOYS LIMITED (REGISTERED NUMBER: 06736021)

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










Page

Balance Sheet 1

Notes to the Financial Statements 2


CHROME NICKEL
ALLOYS LIMITED (REGISTERED NUMBER: 06736021)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 10,129 6,558
10,129 6,558

CURRENT ASSETS
Stocks 316,607 274,510
Debtors 6 242,380 364,239
Cash at bank and in hand 4,400 44,816
563,387 683,565
CREDITORS
Amounts falling due within one year 7 338,427 563,529
NET CURRENT ASSETS 224,960 120,036
TOTAL ASSETS LESS CURRENT
LIABILITIES

235,089

126,594

CREDITORS
Amounts falling due after more than one
year

8

(89,547

)

(3,994

)

PROVISIONS FOR LIABILITIES (1,924 ) -
NET ASSETS 143,618 122,600

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 143,518 122,500
SHAREHOLDERS' FUNDS 143,618 122,600

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 director and authorised for issue on 3 September 2024 and were signed by:





A Clark - Director


CHROME NICKEL
ALLOYS LIMITED (REGISTERED NUMBER: 06736021)

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


1. STATUTORY INFORMATION

Chrome Nickel Alloys 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: 06736021

Registered office: Unit B Bracknell House
Pywell Road
Corby
Northamptonshire
NN17 5XJ

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 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.

Computer software is being amortised evenly over its estimated useful life of three years.

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
Fixtures and fittings - 33% on cost
Computer equipment - 25% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses. Cost includes costs directly attributable to making the asset capable of
operating as intended.

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

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.

CHROME NICKEL
ALLOYS LIMITED (REGISTERED NUMBER: 06736021)

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


2. ACCOUNTING POLICIES - continued

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Debtors and creditors
Debtors receivable / creditors payable within one year are measured at transaction price (less any impairment losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest method (less any impairment losses on debtors) for bad and doubtful debts.

Any losses arising from impairment are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 January 2023
and 31 December 2023 18,552
AMORTISATION
At 1 January 2023
and 31 December 2023 18,552
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

CHROME NICKEL
ALLOYS LIMITED (REGISTERED NUMBER: 06736021)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 27,302 - 2,496 29,798
Additions - 5,936 - 5,936
At 31 December 2023 27,302 5,936 2,496 35,734
DEPRECIATION
At 1 January 2023 21,980 - 1,260 23,240
Charge for year 1,331 412 622 2,365
At 31 December 2023 23,311 412 1,882 25,605
NET BOOK VALUE
At 31 December 2023 3,991 5,524 614 10,129
At 31 December 2022 5,322 - 1,236 6,558

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 223,534 320,074
Amounts owed by group undertakings - 96
Other debtors 18,846 44,069
242,380 364,239

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 16,480 428
Hire purchase contracts 3,686 3,686
Trade creditors 112,942 200,625
Amounts owed to group undertakings 51,939 94,261
Taxation and social security 5,923 3
Other creditors 147,457 264,526
338,427 563,529

CHROME NICKEL
ALLOYS LIMITED (REGISTERED NUMBER: 06736021)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 89,240 -
Hire purchase contracts 307 3,994
89,547 3,994

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 3,993 7,680
Invoice factoring 85,120 131,055
89,113 138,735

Hire purchase contracts are secured against the assets to which they relate. Factoring liabilities are included within Other creditors on the Balance Sheet and are secured against all of the assets of the company by the way of a fixed and floating charge.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

CHROME NICKEL
ALLOYS LIMITED (REGISTERED NUMBER: 06736021)

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


11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion
Included within the comparative figures were stocks of £274,510 for which the value could not be verified. This is the first year that the company has been audited and we were unable to attend the counting of physical stock at the Company's main premises where the value totalled £274,510 of this amount. This is the first year we have acted as auditor for this company and in turn we have been unable to gain assurance over this value within the comparative figures. No such restrictions applied to the stock count for the 31 December 2023 year end and we have identified no concerns in respect for the current year.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Karl Hobbins FCCA (Senior Statutory Auditor)
for and on behalf of CFW Accountants LLP

12. ULTIMATE CONTROLLING PARTY

The controlling party is the company's parent company Clark Partners Limited.

Its registered office can be found at 10 Cricketers Green, Weldon, Corby, NN17 3LP.