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REGISTERED NUMBER: 03772881 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

COMTEC ENTERPRISES LIMITED

COMTEC ENTERPRISES LIMITED (REGISTERED NUMBER: 03772881)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COMTEC ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: N D Claxson





REGISTERED OFFICE: Comtec House
46a Albert Road North
Reigate
Surrey
RH2 9EL





REGISTERED NUMBER: 03772881 (England and Wales)





ACCOUNTANTS: Galloways Accounting
First Floor
Ridgeland House
15 Carfax
Horsham
West Sussex
RH12 1DY

COMTEC ENTERPRISES LIMITED (REGISTERED NUMBER: 03772881)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 299,441 330,985

CURRENT ASSETS
Stocks 341,339 348,639
Debtors 4 905,564 1,450,999
Cash at bank 100,000 -
1,346,903 1,799,638
CREDITORS
Amounts falling due within one year 5 1,822,817 1,924,538
NET CURRENT LIABILITIES (475,914 ) (124,900 )
TOTAL ASSETS LESS CURRENT LIABILITIES (176,473 ) 206,085

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (176,475 ) 206,083
(176,473 ) 206,085

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2024 and were signed by:





N D Claxson - Director


COMTEC ENTERPRISES LIMITED (REGISTERED NUMBER: 03772881)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The revenue from support contracts is recognised over the term of the contract.

For contracts that provide services where the company has partially performed its contractual obligations, the company recognises revenue to the extent that it has obtained the right to consideration through its performance.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold Property - Over the term of the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost

Stocks and work in progress
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.

Work in progress relates to costs incurred for long term projects that complete in future periods, valued at the amount deemed recoverable.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over the estimated selling price less costs to complete and sell is recognised as an impairment loss in the profit and loss. Reversals of impairment losses are also recognised in the profit and loss.

Hire purchase and leasing commitments
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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 27 ) .

COMTEC ENTERPRISES LIMITED (REGISTERED NUMBER: 03772881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Motor
Property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 237,909 274,098 907,974 65,494 1,485,475
Additions - - 7,749 - 7,749
Disposals - (108,808 ) (481,720 ) (62,494 ) (653,022 )
At 31 December 2023 237,909 165,290 434,003 3,000 840,202
DEPRECIATION
At 1 January 2023 30,057 262,649 796,290 65,494 1,154,490
Charge for year 2,403 2,424 26,625 - 31,452
Eliminated on disposal - (106,351 ) (476,336 ) (62,494 ) (645,181 )
At 31 December 2023 32,460 158,722 346,579 3,000 540,761
NET BOOK VALUE
At 31 December 2023 205,449 6,568 87,424 - 299,441
At 31 December 2022 207,852 11,449 111,684 - 330,985

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 419,277 580,997
Amounts owed by group undertakings 420,226 798,751
Other debtors 32,800 37,847
Prepayments 33,261 33,404
905,564 1,450,999

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 148,769
Hire purchase contracts (see note 6) - 7,514
Trade creditors 576,180 579,220
Social security and other taxes 227,897 804,252
Other creditors 519,963 261,231
Directors' current accounts 384,194 -
Deferred income 71,711 55,127
Accrued expenses 42,872 68,425
1,822,817 1,924,538

6. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year - 7,514

COMTEC ENTERPRISES LIMITED (REGISTERED NUMBER: 03772881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. RELATED PARTY DISCLOSURES

The following amounts were outstanding at the reporting end date:

2023 2022

Other related parties 27,062 23,692

8. GOING CONCERN

The director has paid particular attention to the likely effects on the business of the current wider economic uncertainty and remains confident that sufficient funding is in place and that the company has adequate resources to enable the company to continue as a going concern for the foreseeable future.