Registered number
06316973
CJS CNC Machining Ltd
Filleted Accounts
31 July 2024
CJS CNC Machining Ltd
Registered number: 06316973
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 130,870 148,674
Current assets
Stocks 3,900 8,750
Debtors 5 21,443 41,768
Cash at bank and in hand 49,240 18,804
74,583 69,322
Creditors: amounts falling due within one year 6 (34,934) (40,093)
Net current assets 39,649 29,229
Total assets less current liabilities 170,519 177,903
Creditors: amounts falling due after more than one year 7 (9,250) (18,500)
Provisions for liabilities (23,856) (28,248)
Net assets 137,413 131,155
Capital and reserves
Called up share capital 100 100
Profit and loss account 137,313 131,055
Shareholder's funds 137,413 131,155
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr C Smith
Director
Approved by the board on 12 August 2024
CJS CNC Machining Ltd
Notes to the Accounts
for the year ended 31 July 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 over 4 years
Plant and machinery over 10 years
Office equipment over 3.3 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 recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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, including the director 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 32,000
At 31 July 2024 32,000
Amortisation
At 1 August 2023 32,000
At 31 July 2024 32,000
Net book value
At 31 July 2024 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Office equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 4,128 236,685 35,537 276,350
Additions - - 5,500 5,500
Disposals (2,626) (16,275) - (18,901)
At 31 July 2024 1,502 220,410 41,037 262,949
Depreciation
At 1 August 2023 4,122 118,073 5,481 127,676
Charge for the year - 17,203 5,966 23,169
On disposals (2,623) (16,143) - (18,766)
At 31 July 2024 1,499 119,133 11,447 132,079
Net book value
At 31 July 2024 3 101,277 29,590 130,870
At 31 July 2023 6 118,612 30,056 148,674
5 Debtors 2024 2023
£ £
Trade debtors 19,460 40,984
Other debtors 1,983 784
21,443 41,768
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,250 9,250
Trade creditors 463 11,633
Taxation and social security costs 17,930 3,251
Other creditors 7,291 15,959
34,934 40,093
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,250 18,500
8 Controlling party
The company is controlled by its Director, Mr C Smith.
9 Other information
CJS CNC Machining Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Blue Barns Business Park
Old Ipswich Road, Ardleigh
Colchester
Essex
CO7 7FX
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