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REGISTERED NUMBER: 08564037 (England and Wales)

















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

CPS VALVES & FITTINGS LIMITED

CPS VALVES & FITTINGS LIMITED (REGISTERED NUMBER: 08564037)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CPS VALVES & FITTINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs. G Wheldon
Mr. S Wheldon



REGISTERED OFFICE: 11 Ashfield Park
Whickham
Tyne and Wear
NE16 4SQ



REGISTERED NUMBER: 08564037 (England and Wales)



ACCOUNTANTS: Read, Milburn & Co
71 Howard Street
North Shields
Tyne and Wear
NE30 1AF



BANKERS: Lloyds Bank plc
Whickham

CPS VALVES & FITTINGS LIMITED (REGISTERED NUMBER: 08564037)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks - 21,924
Debtors 5 72,572 15,136
Cash at bank 790,108 793,227
862,680 830,287
CREDITORS
Amounts falling due within one year 6 90,551 138,994
NET CURRENT ASSETS 772,129 691,293
TOTAL ASSETS LESS CURRENT
LIABILITIES

772,129

691,293

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 772,029 691,193
SHAREHOLDERS' FUNDS 772,129 691,293

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:



Mr. S Wheldon - Director


CPS VALVES & FITTINGS LIMITED (REGISTERED NUMBER: 08564037)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

CPS Valves & Fittings 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 net invoiced goods and services provided, excluding VAT. Income is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% 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.

Financial instruments
All financial assets and financial liabilities of the company qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


CPS VALVES & FITTINGS LIMITED (REGISTERED NUMBER: 08564037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 2,016
DEPRECIATION
At 1 April 2023
and 31 March 2024 2,016
NET BOOK VALUE
At 31 March 2024 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 72,572 15,136

CPS VALVES & FITTINGS LIMITED (REGISTERED NUMBER: 08564037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 23,646 65,192
Taxation and social security 61,570 71,564
Other creditors 5,335 2,238
90,551 138,994

7. ULTIMATE CONTROLLING PARTY

The controlling party is the board of directors.