Silverfin false false 31/03/2024 01/04/2023 31/03/2024 C R Jones 28/03/2006 D L Morgan 28/03/2006 24 September 2024 The principal activity of the Company during the financial year was the design and manufacture of communication, audio and amplification systems, fire telephones, emergency voice alarms, evacuation systems, public address and nurse call systems and ancillary products. 02457082 2024-03-31 02457082 bus:Director1 2024-03-31 02457082 bus:Director2 2024-03-31 02457082 2023-03-31 02457082 core:CurrentFinancialInstruments 2024-03-31 02457082 core:CurrentFinancialInstruments 2023-03-31 02457082 core:ShareCapital 2024-03-31 02457082 core:ShareCapital 2023-03-31 02457082 core:CapitalRedemptionReserve 2024-03-31 02457082 core:CapitalRedemptionReserve 2023-03-31 02457082 core:RetainedEarningsAccumulatedLosses 2024-03-31 02457082 core:RetainedEarningsAccumulatedLosses 2023-03-31 02457082 core:PlantMachinery 2023-03-31 02457082 core:OfficeEquipment 2023-03-31 02457082 core:PlantMachinery 2024-03-31 02457082 core:OfficeEquipment 2024-03-31 02457082 2023-04-01 2024-03-31 02457082 bus:FilletedAccounts 2023-04-01 2024-03-31 02457082 bus:SmallEntities 2023-04-01 2024-03-31 02457082 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 02457082 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02457082 bus:Director1 2023-04-01 2024-03-31 02457082 bus:Director2 2023-04-01 2024-03-31 02457082 core:PlantMachinery 2023-04-01 2024-03-31 02457082 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 02457082 2022-04-01 2023-03-31 02457082 core:OfficeEquipment 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 02457082 (England and Wales)

CAMEO SYSTEMS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

CAMEO SYSTEMS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

CAMEO SYSTEMS LIMITED

BALANCE SHEET

As at 31 March 2024
CAMEO SYSTEMS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 11,777 13,153
11,777 13,153
Current assets
Stocks 4 245,663 263,436
Debtors 5 196,942 263,732
Cash at bank and in hand 160,619 90,056
603,224 617,224
Creditors: amounts falling due within one year 6 ( 194,800) ( 207,311)
Net current assets 408,424 409,913
Total assets less current liabilities 420,201 423,066
Provision for liabilities ( 2,944) ( 2,499)
Net assets 417,257 420,567
Capital and reserves
Called-up share capital 3,000 3,000
Capital redemption reserve 2,000 2,000
Profit and loss account 412,257 415,567
Total shareholder's funds 417,257 420,567

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Cameo Systems Limited (registered number: 02457082) were approved and authorised for issue by the Board of Directors on 24 September 2024. They were signed on its behalf by:

D L Morgan
Director
CAMEO SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
CAMEO SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cameo Systems Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 29 Haviland Road, Ferndown Industrial Estate, Wimborne, BH21 7SA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date . Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received and receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

3. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 April 2023 33,061 18,574 51,635
Additions 800 4,158 4,958
Disposals 0 ( 5,780) ( 5,780)
At 31 March 2024 33,861 16,952 50,813
Accumulated depreciation
At 01 April 2023 28,600 9,882 38,482
Charge for the financial year 1,376 4,760 6,136
Disposals 0 ( 5,582) ( 5,582)
At 31 March 2024 29,976 9,060 39,036
Net book value
At 31 March 2024 3,885 7,892 11,777
At 31 March 2023 4,461 8,692 13,153

4. Stocks

2024 2023
£ £
Stocks 245,663 263,436

5. Debtors

2024 2023
£ £
Trade debtors 192,346 261,369
Other debtors 4,596 2,363
196,942 263,732

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 69,676 94,888
Taxation and social security 120,319 108,716
Other creditors 4,805 3,707
194,800 207,311

7. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Other 0 4,500

8. Ultimate controlling party

Parent Company:

Cameo Systems Holdings Limited
29 Haviland Road, Ferndown Industrial Estate, Wimborne, Dorset, United Kingdom, BH21 7SA