Registered number
07142040
Compressed Air Engineering (Redditch) Limited
Unaudited Filleted Accounts
29 February 2024
Compressed Air Engineering (Redditch) Limited
Registered number: 07142040
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 75,517 60,134
Current assets
Stocks 6,021 2,007
Debtors 4 98,872 163,050
Cash at bank and in hand 198,184 157,013
303,077 322,070
Creditors: amounts falling due within one year 5 (160,795) (150,534)
Net current assets 142,282 171,536
Total assets less current liabilities 217,799 231,670
Creditors: amounts falling due after more than one year 6 - (482)
Provisions for liabilities (9,125) (11,150)
Net assets 208,674 220,038
Capital and reserves
Called up share capital 100 100
Profit and loss account 208,574 219,938
Shareholders' funds 208,674 220,038
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P J Reeves
Director
Approved by the board on 8 August 2024
Compressed Air Engineering (Redditch) Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Plant and machinery over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2023 20,914 86,790 107,704
Additions 8,186 45,917 54,103
Disposals - (16,500) (16,500)
At 29 February 2024 29,100 116,207 145,307
Depreciation
At 1 March 2023 19,373 28,197 47,570
Charge for the year 2,131 21,464 23,595
On disposals - (1,375) (1,375)
At 29 February 2024 21,504 48,286 69,790
Net book value
At 29 February 2024 7,596 67,921 75,517
At 28 February 2023 1,541 58,593 60,134
4 Debtors 2024 2023
£ £
Trade debtors 83,409 158,453
Other debtors 15,463 4,597
98,872 163,050
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 482 5,784
Trade creditors 54,333 64,335
Taxation and social security costs 58,464 70,821
Other creditors 47,516 9,594
160,795 150,534
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 482
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 15,708 1,000
8 Controlling party
The controlling party is P J Reeves who owns 60% of the issued share capital.
9 Other information
Compressed Air Engineering (Redditch) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 37 Peltland Ind Estate
Padgets Lane, South Moons
Redditch
Worcestershire
B98 0RB
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