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REGISTERED NUMBER: 01881904 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Carnhill Transformers Limited

Carnhill Transformers Limited (Registered number: 01881904)






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




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Carnhill Transformers Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr J. Hall





SECRETARY: Mrs J. Hall





REGISTERED OFFICE: Unit 5 Oxonian Park
Langford Locks
Kidlington
Oxfordshire
OX5 1FP





REGISTERED NUMBER: 01881904 (England and Wales)





ACCOUNTANTS: Chapman Robinson and Moore Limited
30 Bankside Court
Stationfields
Kidlington
Oxford
OX5 1JE

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Carnhill Transformers Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Carnhill Transformers Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Carnhill Transformers Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Carnhill Transformers Limited and state those matters that we have agreed to state to the director of Carnhill Transformers Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Carnhill Transformers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Carnhill Transformers Limited. You consider that Carnhill Transformers Limited 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 financial statements of Carnhill Transformers Limited. 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 financial statements.






Chapman Robinson and Moore Limited
30 Bankside Court
Stationfields
Kidlington
Oxford
OX5 1JE


Date: .............................................

Carnhill Transformers Limited (Registered number: 01881904)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £   
FIXED ASSETS
Intangible assets 4 548,653 626,832
Tangible assets 5 225,137 260,359
773,790 887,191

CURRENT ASSETS
Stocks 1,379,615 1,381,473
Debtors 6 542,593 721,954
Cash at bank 952,094 655,983
2,874,302 2,759,410
CREDITORS
Amounts falling due within one year 7 (482,400 ) (582,604 )
NET CURRENT ASSETS 2,391,902 2,176,806
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,165,692

3,063,997

CREDITORS
Amounts falling due after more than
one year

8

(141,025

)

(150,989

)

PROVISIONS FOR LIABILITIES 10 (16,636 ) (21,134 )
NET ASSETS 3,008,031 2,891,874

Carnhill Transformers Limited (Registered number: 01881904)

Balance Sheet - continued
31 December 2023

31/12/23 31/12/22
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,007,931 2,891,774
3,008,031 2,891,874

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2024 and were signed by:





Mr J. Hall - Director


Carnhill Transformers Limited (Registered number: 01881904)

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

1. STATUTORY INFORMATION

Carnhill Transformers 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.

Preparation of consolidated financial statements
The financial statements contain information about Carnhill Transformers Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 businesses in 2009, 2013, 2017 and 2021, are being amortised evenly over their estimated useful lives of 5 & 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 4% on reducing balance
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 10% on cost

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


Carnhill Transformers Limited (Registered number: 01881904)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 48 (2022 - 64 ) .

Carnhill Transformers Limited (Registered number: 01881904)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023 1,566,788 - 1,566,788
Additions - 240 240
At 31 December 2023 1,566,788 240 1,567,028
AMORTISATION
At 1 January 2023 939,956 - 939,956
Charge for year 78,419 - 78,419
At 31 December 2023 1,018,375 - 1,018,375
NET BOOK VALUE
At 31 December 2023 548,413 240 548,653
At 31 December 2022 626,832 - 626,832

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 144,236 1,264,830 1,409,066
Additions - 8,195 8,195
Disposals (7,067 ) - (7,067 )
At 31 December 2023 137,169 1,273,025 1,410,194
DEPRECIATION
At 1 January 2023 53,207 1,095,500 1,148,707
Charge for year 3,508 35,945 39,453
Eliminated on disposal (3,103 ) - (3,103 )
At 31 December 2023 53,612 1,131,445 1,185,057
NET BOOK VALUE
At 31 December 2023 83,557 141,580 225,137
At 31 December 2022 91,029 169,330 260,359

Carnhill Transformers Limited (Registered number: 01881904)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 408,199 501,007
Other debtors 134,394 220,947
542,593 721,954

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts 8,599 39,662
Hire purchase contracts (see note 9) - 4,672
Trade creditors 93,204 147,294
Taxation and social security 173,449 172,164
Other creditors 207,148 218,812
482,400 582,604

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/12/23 31/12/22
£    £   
Other creditors 141,025 150,989

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 - 4,672

Non-cancellable operating leases
31/12/23 31/12/22
£    £   
Within one year 143,500 143,500
Between one and five years 574,000 574,000
In more than five years 524,375 667,875
1,241,875 1,385,375

Carnhill Transformers Limited (Registered number: 01881904)

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

10. PROVISIONS FOR LIABILITIES
31/12/23 31/12/22
£    £   
Deferred tax 16,636 21,134

Deferred
tax
£   
Balance at 1 January 2023 21,134
Provided during year (4,498 )
Balance at 31 December 2023 16,636