Registered number
05873658
Commercial and Industrial Enterprises Limited
Filleted Accounts
31 December 2023
Commercial and Industrial Enterprises Limited
Registered number: 05873658
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 700,000 700,000
Investments 4 378,843 379,843
1,078,843 1,079,843
Current assets
Work in Progress 34,894 -
Debtors 5 377,181 726,689
Cash at bank and in hand 205,764 192,374
617,839 919,063
Creditors: amounts falling due within one year 6 (686,253) (870,263)
Net current (liabilities)/assets (68,414) 48,800
Total assets less current liabilities 1,010,429 1,128,643
Creditors: amounts falling due after more than one year 7 (19,798) (24,673)
Net assets 990,631 1,103,970
Capital and reserves
Called up share capital 1,480,002 1,480,002
Profit and loss account (489,371) (376,032)
Shareholders' funds 990,631 1,103,970
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.
Marina Wright
Director
Approved by the board on 18 September 2024
Commercial and Industrial Enterprises Limited
Notes to the Accounts
for the year ended 31 December 2023
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:
Freehold buildings not depreciated
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2023 700,000
At 31 December 2023 700,000
Depreciation
At 31 December 2023 -
Net book value
At 31 December 2023 700,000
At 31 December 2022 700,000
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 January 2023 56,743 323,100 379,843
Revaluation (1,000) - (1,000)
At 31 December 2023 55,743 323,100 378,843
5 Debtors 2023 2022
£ £
Trade debtors 13,989 154,228
Amounts owed by group undertakings and undertakings in which the company has a participating interest 195,042 203,338
Other debtors 168,150 369,123
377,181 726,689
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,187 9,500
Trade creditors 13,236 14,483
Amounts owed to group undertakings and undertakings in which the company has a participating interest 546,881 423,926
Taxation and social security costs 12,714 33,576
Other creditors 106,235 388,778
686,253 870,263
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 19,798 24,673
8 Other information
Commercial and Industrial Enterprises Limited is a private company limited by shares and incorporated in England. Its registered office is:
Interpark House
7 Down Street
London
England
W1J 7AJ
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