Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09732591 2023-01-01 2023-12-31 09732591 2022-01-01 2022-12-31 09732591 2023-12-31 09732591 2022-12-31 09732591 c:Director2 2023-01-01 2023-12-31 09732591 d:PlantMachinery 2023-01-01 2023-12-31 09732591 d:PlantMachinery 2023-12-31 09732591 d:PlantMachinery 2022-12-31 09732591 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09732591 d:CurrentFinancialInstruments 2023-12-31 09732591 d:CurrentFinancialInstruments 2022-12-31 09732591 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09732591 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09732591 d:ShareCapital 2023-12-31 09732591 d:ShareCapital 2022-12-31 09732591 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09732591 d:RetainedEarningsAccumulatedLosses 2023-12-31 09732591 d:RetainedEarningsAccumulatedLosses 2022-12-31 09732591 c:OrdinaryShareClass1 2023-01-01 2023-12-31 09732591 c:OrdinaryShareClass1 2023-12-31 09732591 c:OrdinaryShareClass1 2022-12-31 09732591 c:FRS102 2023-01-01 2023-12-31 09732591 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09732591 c:FullAccounts 2023-01-01 2023-12-31 09732591 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09732591 2 2023-01-01 2023-12-31 09732591 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09732591










CUSTOM FASTENERS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CUSTOM FASTENERS LIMITED
REGISTERED NUMBER:09732591

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
-
2,374

  
-
2,374

Current assets
  

Stocks
 6 
-
5,000

Debtors: amounts falling due within one year
 7 
-
442

Cash at bank and in hand
 8 
306
1,467

  
306
6,909

Creditors: amounts falling due within one year
 9 
-
(15,520)

Net current assets/(liabilities)
  
 
 
306
 
 
(8,611)

Total assets less current liabilities
  
306
(6,237)

  

Net assets/(liabilities)
  
306
(6,237)


Capital and reserves
  

Called up share capital 
 10 
2
2

Profit and loss account
 11 
304
(6,239)

  
306
(6,237)


Page 1

 
CUSTOM FASTENERS LIMITED
REGISTERED NUMBER:09732591
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2024.




J L Hockly
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CUSTOM FASTENERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Custom Fasteners Limited (09732591) is a private limited company, incorporated in England and Wales,with its registered office and principal place of business at Unit 7, Dyffryn Industrial Estate, Pool Road, Newtown, Powys, SY16 3BD.
The principal activity of the Company is the supply of plated and stainless steel fasteners.
On 31 December 2023 the company ceased to trade.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements are prepared on a break up basis following the cessation of trade.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
CUSTOM FASTENERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
CUSTOM FASTENERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
CUSTOM FASTENERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Plant and machinery

£





At 1 January 2023
5,134


Disposals
(5,134)



At 31 December 2023

-





At 1 January 2023
2,760


Charge for the year on owned assets
237


Disposals
(2,997)



At 31 December 2023

-



Net book value



At 31 December 2023
-



At 31 December 2022
2,374


6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
-
5,000

-
5,000



7.


Debtors

2023
2022
£
£


Other debtors
-
442

-
442


Page 6

 
CUSTOM FASTENERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
306
1,467

306
1,467



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
274

Other creditors
-
14,296

Accruals and deferred income
-
950

-
15,520



10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



11.


Reserves

Profit and loss account

The profit and loss account represents the accumulated profits of the Company since incorporation less distributions made to shareholders. 


12.


Related party transactions

During the year, a loan owed to Harry Hockly Motorsports Limited of £9,437 was written off.  Both companies are under common control.

 
Page 7