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Registration number: 02916345

Complete Business Installations Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Complete Business Installations Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Complete Business Installations Limited

Company Information

Director

Mr BP Turner

Company secretary

Mr BP Turner

Registered office

Barton Building
Arundel Road
Uxbridge
Middlesex
UB8 2RR

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Complete Business Installations Limited

(Registration number: 02916345)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

170,561

24,373

Current assets

 

Stocks

5

-

47,823

Debtors

6

847,420

739,160

Cash at bank and in hand

 

560,433

687,953

 

1,407,853

1,474,936

Creditors: Amounts falling due within one year

7

(353,344)

(335,035)

Net current assets

 

1,054,509

1,139,901

Total assets less current liabilities

 

1,225,070

1,164,274

Creditors: Amounts falling due after more than one year

7

(43,817)

(10,737)

Provisions for liabilities

(28,000)

(6,000)

Net assets

 

1,153,253

1,147,537

Capital and reserves

 

Called up share capital

102

102

Retained earnings

1,153,151

1,147,435

Shareholders' funds

 

1,153,253

1,147,537

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 September 2024
 

 

Complete Business Installations Limited

(Registration number: 02916345)
Balance Sheet as at 31 December 2023

.........................................
Mr BP Turner
Company secretary and director

 

Complete Business Installations Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
Barton Building
Arundel Road
Uxbridge
Middlesex
UB8 2RR

These financial statements were authorised for issue by the director on 25 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the sale of goods. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Complete Business Installations Limited

Notes to the Financial Statements for the Year Ended 31 December 2023


Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% Straight line basis

Furniture, fittings and equipment

25% Straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for items sold or services performed in the ordinary course of business. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) 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 inventories 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

Complete Business Installations Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 26 (2022 - 27).

 

Complete Business Installations Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

-

24,453

86,592

111,045

Additions

46,790

79,712

56,233

182,735

Disposals

-

(4,075)

(32,699)

(36,774)

At 31 December 2023

46,790

100,090

110,126

257,006

Depreciation

At 1 January 2023

-

21,536

65,136

86,672

Charge for the year

3,509

16,471

16,567

36,547

Eliminated on disposal

-

(4,075)

(32,699)

(36,774)

At 31 December 2023

3,509

33,932

49,004

86,445

Carrying amount

At 31 December 2023

43,281

66,158

61,122

170,561

At 31 December 2022

-

2,917

21,456

24,373

Included within the net book value of land and buildings above is £43,281 (2022 - £Nil) in respect of short leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

-

47,823

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

614,121

630,463

Amounts owed by related parties

10

-

30,043

Prepayments

 

60,233

21,739

Other debtors

 

173,066

56,915

   

847,420

739,160

 

Complete Business Installations Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

17,772

12,760

Trade creditors

 

215,372

135,071

Taxation and social security

 

97,981

104,126

Other creditors

 

8,743

19,992

Accrued expenses

 

13,476

17,086

Corporation tax

 

-

46,000

 

353,344

335,035

Due after one year

 

Loans and borrowings

8

43,817

10,737

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

43,817

10,737

 

Complete Business Installations Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Hire purchase contracts

43,817

10,737

Current loans and borrowings

2023
£

2022
£

Hire purchase contracts

17,772

12,760

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £2,217,865 (2022 - £2,308,632).

10

Related party transactions

Transactions with the director

2023

At 1 January 2023
£

Repayments by director
£

At 31 December 2023
£

Mr BP Turner

Advance

30,043

(30,043)

-

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

Mr BP Turner

Advance

20,531

33,501

(23,989)

30,043