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Company Registration No. 10472327 (England and Wales)
Comet Civils Limited Unaudited accounts for the year ended 31 March 2024
Comet Civils Limited Unaudited accounts Contents
Page
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Comet Civils Limited Company Information for the year ended 31 March 2024
Director
Dr P Little
Company Number
10472327 (England and Wales)
Registered Office
Japonica Cottage St. James Road Netherbury Bridport DT6 5LP
Accountants
Kate Brown The Annexe, Rectory Farm Cranford Road Great Addington, Kettering Northants NN14 4BQ
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Comet Civils Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,413 
3,101 
Current assets
Inventories
6,708 
- 
Debtors
8,157 
13,150 
Cash at bank and in hand
49,346 
63,068 
64,211 
76,218 
Creditors: amounts falling due within one year
(16,274)
(17,576)
Net current assets
47,937 
58,642 
Total assets less current liabilities
50,350 
61,743 
Creditors: amounts falling due after more than one year
(22,500)
(31,667)
Net assets
27,850 
30,076 
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
27,847 
30,073 
Shareholders' funds
27,850 
30,076 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 September 2024 and were signed on its behalf by
Dr P Little Director Company Registration No. 10472327
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Comet Civils Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Comet Civils Limited is a private company, limited by shares, registered in England and Wales, registration number 10472327. The registered office is Japonica Cottage , St. James Road , Netherbury , Bridport , DT6 5LP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Over 4 years
Computer equipment
Over 3 years
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
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 accounts. 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.
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Comet Civils Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
16,285 
1,555 
17,840 
Additions
547 
- 
547 
At 31 March 2024
16,832 
1,555 
18,387 
Depreciation
At 1 April 2023
13,825 
914 
14,739 
Charge for the year
933 
302 
1,235 
At 31 March 2024
14,758 
1,216 
15,974 
Net book value
At 31 March 2024
2,074 
339 
2,413 
At 31 March 2023
2,460 
641 
3,101 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
2,183 
- 
Trade debtors
612 
6,000 
Accrued income and prepayments
5,362 
5,927 
Other debtors
- 
1,223 
8,157 
13,150 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
5,199 
Trade creditors
6,810 
6,472 
Taxes and social security
9,464 
5,905 
16,274 
17,576 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
22,500 
31,667 
8
Average number of employees
During the year the average number of employees was 1 (2023: 2).
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