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Registration number: 06055686

CMB Bristol Limited

Filleted Annual Report and Audited Abridged Financial Statements

for the Year Ended 31 March 2024

 

CMB Bristol Limited

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Abridged Financial Statements

3 to 7

 

CMB Bristol Limited

Company Information

Directors

Mr S Borley

Mr CS Baker

Company secretary

Mr M Camilleri

Registered office

Ground Floor 1 Alexandra Gate
Ffordd Pengam
Cardiff
South Wales
CF24 2SA

Auditors

HSJ Audit Limited
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

CMB Bristol Limited

(Registration number: 06055686)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

3,375,834

3,539,878

Cash at bank and in hand

 

818

818

 

3,376,652

3,540,696

Prepayments and accrued income

 

5,053

30,289

Creditors: Amounts falling due within one year

5.1

(2,229,250)

(2,399,949)

Total assets less current liabilities

 

1,152,455

1,171,036

Accruals and deferred income

 

(6,688)

(29,331)

Net assets

 

1,145,767

1,141,705

Capital and reserves

 

Called up share capital

6

70,000

70,000

Capital redemption reserve

30,000

30,000

Retained earnings

1,045,767

1,041,705

Shareholders' funds

 

1,145,767

1,141,705

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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 October 2024 and signed on its behalf by:
 

.........................................

Mr S Borley
Director

 

CMB Bristol Limited

Notes to the Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Ground Floor 1 Alexandra Gate
Ffordd Pengam
Cardiff
South Wales
CF24 2SA

These financial statements were authorised for issue by the Board on 4 October 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 abridged 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 abridged 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.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 11 October 2024 was Andrew Hill, who signed for and on behalf of HSJ Audit Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

CMB Bristol Limited

Notes to the Abridged Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current 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.

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

Fixtures, fittings and equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

CMB Bristol Limited

Notes to the Abridged Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 10).

 

CMB Bristol Limited

Notes to the Abridged Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Fixtures, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

2,745

2,745

At 31 March 2024

2,745

2,745

Depreciation

At 1 April 2023

2,745

2,745

At 31 March 2024

2,745

2,745

Carrying amount

At 31 March 2024

-

-

5

Creditors

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts which are secured of £2,082,974 (2023 - £2,101,852).

 

CMB Bristol Limited

Notes to the Abridged Financial Statements for the Year Ended 31 March 2024

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

70,000

70,000

70,000

70,000

       

7

Dividends

2024

2023

£

£

Interim dividend of £Nil (2023 - £1.38) per ordinary share

-

96,949

 

 

8

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

Mr AV Norris

Directors loan account

-

80,000

80,000

Summary of transactions with parent

Relationship: Parent company
 During the year the company provided subcontract services to the parent company. The value of these services in the year was £900,361 (2023 - £1,204,930). The total labour recharged to the company during the year was £77,603 (2023 - £67,764). The parent company cross charged management charges amounting to £95,122 (2023 - £115,253) for administration and insurance services. At the balance sheet date the amount due from the parent company was £3,123,761 (2023 - £3,336,581).
 

Summary of transactions with other related parties

Relationship: Common director and shareholder
 During the year the company provided an unsecured, interest free, repayable on demand loan to its related party companies. At the balance sheet date the amount due from the related party companies was £172,073 (2023 - £203,297).