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REGISTERED NUMBER: 06414779 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

CFEL Limited

CFEL Limited (Registered number: 06414779)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CFEL Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: C J Filor





SECRETARY: Mrs P A Filor





REGISTERED OFFICE: 2 Thorn Park
Spreyton
Nr.crediton
Devon
EX17 5AG





REGISTERED NUMBER: 06414779 (England and Wales)





ACCOUNTANTS: Blue Sky
Chartered Accountants
The Old Dairy
Cadhay
Ottery St Mary
Devon
EX11 1QT

CFEL Limited (Registered number: 06414779)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,688 3,039
2,688 3,039

CURRENT ASSETS
Debtors 6 83,392 75,097
Cash at bank 64,976 78,029
148,368 153,126
CREDITORS
Amounts falling due within one year 7 21,276 24,251
NET CURRENT ASSETS 127,092 128,875
TOTAL ASSETS LESS CURRENT
LIABILITIES

129,780

131,914

CREDITORS
Amounts falling due after more than one year 8 (7,225 ) (12,325 )

PROVISIONS FOR LIABILITIES (324 ) (370 )
NET ASSETS 122,231 119,219

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 122,131 119,119
SHAREHOLDERS' FUNDS 122,231 119,219

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 director acknowledges his 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.

CFEL Limited (Registered number: 06414779)

Balance Sheet - 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 director and authorised for issue on 18 September 2024 and were signed by:





C J Filor - Director


CFEL Limited (Registered number: 06414779)

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

1. Statutory information

CFEL 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.
Plant and machinery etc - 25% on cost and 20% on reducing balance

Financial instruments
(i) Financial assets
Basic financial assets, including trade and other debtors are initially recognised at the transaction price and therefore stated at amortisation cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortisation cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

CFEL Limited (Registered number: 06414779)

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.

Hire purchase and leasing commitments
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 3 (2022 - 3 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 January 2023
and 31 December 2023 105,000
Amortisation
At 1 January 2023
and 31 December 2023 105,000
Net book value
At 31 December 2023 -
At 31 December 2022 -

CFEL Limited (Registered number: 06414779)

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

5. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 January 2023 3,794 4,486 8,280
Additions - 765 765
At 31 December 2023 3,794 5,251 9,045
Depreciation
At 1 January 2023 2,271 2,970 5,241
Charge for year 305 811 1,116
At 31 December 2023 2,576 3,781 6,357
Net book value
At 31 December 2023 1,218 1,470 2,688
At 31 December 2022 1,523 1,516 3,039

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 27,890 5,930
Amounts recoverable on contract 800 800
Other debtors 54,702 68,367
83,392 75,097

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 5,100 5,100
Trade creditors 110 159
Taxation and social security 13,166 16,242
Other creditors 2,900 2,750
21,276 24,251

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 7,225 12,325

CFEL Limited (Registered number: 06414779)

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

9. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
C J Filor
Balance outstanding at start of year 66,065 63,416
Amounts advanced 29,615 66,065
Amounts repaid (69,055 ) (63,416 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,625 66,065