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REGISTERED NUMBER: 09104037 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 January 2024

for

CT Ipswich Limited

CT Ipswich Limited (Registered number: 09104037)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CT Ipswich Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: N S Braybrooke
Mrs K D Lourenco





SECRETARY: Mrs L Braybrooke





REGISTERED OFFICE: 8 Olympus Close
Ipswich
Suffolk
IP1 5LN





REGISTERED NUMBER: 09104037 (England and Wales)





ACCOUNTANTS: Knights Lowe Ltd
Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ

CT Ipswich Limited (Registered number: 09104037)

Statement of Financial Position
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 265,860 106,214

CURRENT ASSETS
Stocks 599,629 632,970
Debtors 5 644,267 533,732
Cash at bank and in hand 184,955 241,199
1,428,851 1,407,901
CREDITORS
Amounts falling due within one year 6 638,666 574,244
NET CURRENT ASSETS 790,185 833,657
TOTAL ASSETS LESS CURRENT LIABILITIES 1,056,045 939,871

CREDITORS
Amounts falling due after more than one
year

7

(157,693

)

(4,861

)

PROVISIONS FOR LIABILITIES 10 (51,637 ) -
NET ASSETS 846,715 935,010

CAPITAL AND RESERVES
Called up share capital 11 250,000 250,000
Retained earnings 596,715 685,010
SHAREHOLDERS' FUNDS 846,715 935,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CT Ipswich Limited (Registered number: 09104037)

Statement of Financial Position - continued
31 January 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





N S Braybrooke - Director


CT Ipswich Limited (Registered number: 09104037)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

CT Ipswich 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net sales of goods excluding VAT and is recognised at the point at which the goods are collected by or delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - in accordance with the property lease
Plant and machinery - various based on estimated life of asset
Motor vehicles - 5 years straight line

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

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, bank facilities and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.


CT Ipswich Limited (Registered number: 09104037)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates two defined contribution pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds. Contributions payable for the year are charged to the profit and loss account.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 29 ) .

CT Ipswich Limited (Registered number: 09104037)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 February 2023 34,052 335,707 83,741 453,500
Additions - 20,275 179,770 200,045
Disposals - (17,168 ) - (17,168 )
At 31 January 2024 34,052 338,814 263,511 636,377
DEPRECIATION
At 1 February 2023 34,052 290,134 23,100 347,286
Charge for year - 19,450 20,949 40,399
Eliminated on disposal - (17,168 ) - (17,168 )
At 31 January 2024 34,052 292,416 44,049 370,517
NET BOOK VALUE
At 31 January 2024 - 46,398 219,462 265,860
At 31 January 2023 - 45,573 60,641 106,214

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2023
and 31 January 2024 34,000
DEPRECIATION
At 1 February 2023 7,250
Charge for year 5,800
At 31 January 2024 13,050
NET BOOK VALUE
At 31 January 2024 20,950
At 31 January 2023 26,750

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 373,935 351,116
Other debtors 270,332 182,616
644,267 533,732

CT Ipswich Limited (Registered number: 09104037)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 4,861 5,833
Trade creditors 289,140 182,592
Amounts owed to group undertakings 175,446 64,295
Taxation and social security 60,752 133,948
Other creditors 108,467 187,576
638,666 574,244

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) - 4,861
Amounts owed to group undertakings 157,693 -
157,693 4,861

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 4,861 5,833
Between one and five years - 4,861
4,861 10,694

Non-cancellable operating leases
2024 2023
£    £   
Within one year 209,500 234,500
Between one and five years 284,000 434,000
In more than five years 152,250 211,750
645,750 880,250

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 4,861 10,694

CT Ipswich Limited (Registered number: 09104037)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

10. PROVISIONS FOR LIABILITIES
2024
£   
Deferred tax
Accelerated capital allowances 51,637

Deferred
tax
£   
Balance at 1 February 2023 (6,985 )
Charge to Statement of Income and Retained Earnings during year 58,622
Balance at 31 January 2024 51,637

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
250,000 Ordinary £1 250,000 250,000