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REGISTERED NUMBER: 07025673 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CATHEM LIMITED

CATHEM LIMITED (REGISTERED NUMBER: 07025673)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


CATHEM LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: J H M Jansen
A Mumtaz
D J Holden





REGISTERED OFFICE: Glenfield Industrial Park Site 1
Philips Road
Blackburn
Lancashire
BB1 5RZ





REGISTERED NUMBER: 07025673 (England and Wales)





AUDITORS: Moss & Williamson Limited
Chartered Accountants
Statutory Auditor
Booth Street Chambers
Ashton-under-Lyne
Lancashire
OL6 7LQ

CATHEM LIMITED (REGISTERED NUMBER: 07025673)

ABRIDGED BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 195,696 239,310
195,696 239,310

CURRENT ASSETS
Stocks 47,586 46,047
Debtors 264,677 204,803
Cash at bank and in hand 1,471,321 1,393,827
1,783,584 1,644,677
CREDITORS
Amounts falling due within one year 431,948 324,138
NET CURRENT ASSETS 1,351,636 1,320,539
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,547,332

1,559,849

CREDITORS
Amounts falling due after more than one
year

(158,190

)

(193,542

)

PROVISIONS FOR LIABILITIES (48,922 ) (59,180 )
NET ASSETS 1,340,220 1,307,127

CAPITAL AND RESERVES
Called up share capital 85,000 85,000
Share premium 29,549 29,549
Retained earnings 1,225,671 1,192,578
SHAREHOLDERS' FUNDS 1,340,220 1,307,127

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 September 2024 and were signed on its behalf by:



A Mumtaz - Director


CATHEM LIMITED (REGISTERED NUMBER: 07025673)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Cathem 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.

Turnover
Turnover represents the amounts receivable for the sale of goods, net of VAT and discounts. It is recognised when the goods are despatched to or collected by the customer.

Goodwill
Goodwill is initially measured at cost. It is subsequently measured at cost less accumulated amortisation and less any accumulated impairment losses. The intangible asset included in the financial statements represents the amount paid for goodwill in relation to the acquisition of a business in 2009. The cost has been fully written off over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost

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

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

CATHEM LIMITED (REGISTERED NUMBER: 07025673)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The directors have assessed the appropriateness of the going concern concept in relation to these financial statements and consider that the accounts should be prepared on a going concern basis. This conclusion has been reached based upon having access to sufficient funds to be able to meet its liabilities and obligations as they fall due for at least 12 months from approving these financial statements.

The directors continue to monitor the impact of Brexit and the geopolitical situation in Ukraine on the company but, in their opinion, it has been minimal so far. The directors therefore believe the going concern assumption to be appropriate given the company's working capital position.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 45,000
AMORTISATION
At 1 January 2023
and 31 December 2023 45,000
NET BOOK VALUE

At 31 December 2023 -
At 31 December 2022 -

CATHEM LIMITED (REGISTERED NUMBER: 07025673)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 434,746
DEPRECIATION
At 1 January 2023 195,436
Charge for year 43,614
At 31 December 2023 239,050
NET BOOK VALUE
At 31 December 2023 195,696
At 31 December 2022 239,310

The net book value of tangible fixed assets includes £ 188,059 (2022 - £ 220,788 ) in respect of assets held under hire purchase contracts.

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 193,542 223,133

Hire purchase balances are secured against the fixed assets that they have financed.

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Evans FCA (Senior Statutory Auditor)
for and on behalf of Moss & Williamson Limited

8. OTHER FINANCIAL COMMITMENTS

At 31 December 2023 the company had commitments in respect of non-cancellable operating leases of £10,842 (2022: £54,208).

The company operates a defined contribution pension scheme for the benefit of all its employees. At 31 December 2023 there were unpaid contributions of £6,704 (2022: £1,828).

9. ULTIMATE CONTROLLING PARTY

The controlling party is J H M Jansen.