Cavalex Models Limited 10553832 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the manufacture of scale railway models Digita Accounts Production Advanced 6.30.9574.0 true 10553832 2023-02-01 2024-01-31 10553832 2024-01-31 10553832 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-01-31 10553832 core:CurrentFinancialInstruments 2024-01-31 10553832 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 10553832 core:FurnitureFittingsToolsEquipment 2024-01-31 10553832 core:OtherPropertyPlantEquipment 2024-01-31 10553832 bus:SmallEntities 2023-02-01 2024-01-31 10553832 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10553832 bus:FilletedAccounts 2023-02-01 2024-01-31 10553832 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 10553832 bus:RegisteredOffice 2023-02-01 2024-01-31 10553832 bus:Director1 2023-02-01 2024-01-31 10553832 bus:Director2 2023-02-01 2024-01-31 10553832 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-02-01 2024-01-31 10553832 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10553832 bus:Agent1 2023-02-01 2024-01-31 10553832 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 10553832 core:OfficeEquipment 2023-02-01 2024-01-31 10553832 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 10553832 core:PlantMachinery 2023-02-01 2024-01-31 10553832 4 2023-02-01 2024-01-31 10553832 countries:AllCountries 2023-02-01 2024-01-31 10553832 2023-01-31 10553832 core:FurnitureFittingsToolsEquipment 2023-01-31 10553832 core:OtherPropertyPlantEquipment 2023-01-31 10553832 2022-02-01 2023-01-31 10553832 2023-01-31 10553832 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-01-31 10553832 core:CurrentFinancialInstruments 2023-01-31 10553832 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 10553832 core:FurnitureFittingsToolsEquipment 2023-01-31 10553832 core:OtherPropertyPlantEquipment 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registrar

Registration number: 10553832

Cavalex Models Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Cavalex Models Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Cavalex Models Limited

Company Information

Directors

A D Perkins

C A Millward

Registered office

2 Hazel Avenue (Off London Rd)
Black Notley
Braintree
Essex
CM77 8GD

Bankers

Lloyds Bank PLC
1 Legg Street
Chelmsford
Essex
CM1 1JS

Accountants

Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Cavalex Models Limited

(Registration number: 10553832)
Balance Sheet as at 31 January 2024

Note

31 January
2024
£

(As restated)

31 January
2023
£

Fixed assets

 

Tangible assets

4

210,407

177,868

Current assets

 

Stocks

5

29,545

33,350

Debtors

6

257,790

194,514

Cash at bank and in hand

 

119,859

132,981

 

407,194

360,845

Creditors: Amounts falling due within one year

7

(377,925)

(392,983)

Net current assets/(liabilities)

 

29,269

(32,138)

Total assets less current liabilities

 

239,676

145,730

Provisions for liabilities

(22,544)

-

Net assets

 

217,132

145,730

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

217,032

145,630

Shareholders' funds

 

217,132

145,730

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

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 24 October 2024 and signed on its behalf by:
 

A D Perkins
Director

 

Cavalex Models Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

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

The address of its registered office is: 2 Hazel Avenue (Off London Rd), Black Notley, Braintree, Essex, CM77 8GD.

The directors have chosen to adopt FRS 102 Section 1A as the standard for preparing the financial statements for the year ended 31 January 2024, consequently the date of transition to FRS 102 Section 1A was 1 February 2023. There has been no effect caused to the financial statements following the transactions.

These financial statements were authorised for issue by the Board on 24 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 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 financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Reclassification of comparative amounts

The prior period has been restated as a result of depreciation for plant & machinery now being included in cost of sales as opposed to administrative expenses. The adjustment has had no effect of profit before tax, or net assets.

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.

Tax

Current Tax is recognised in the profit and loss account, 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.

Deferred tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Cavalex Models Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

33% straight line

Office equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

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

Stocks

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Share capital

Ordinary shares are classified as equity.

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 2 (2023 - 2).

 

Cavalex Models Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Office equipment
 £

Plant and Machinery
£

Total
£

Cost or valuation

At 1 February 2023

1,357

256,383

257,740

Additions

-

91,757

91,757

At 31 January 2024

1,357

348,140

349,497

Depreciation

At 1 February 2023

448

79,424

79,872

Charge for the year

448

58,770

59,218

At 31 January 2024

896

138,194

139,090

Carrying amount

At 31 January 2024

461

209,946

210,407

At 31 January 2023

909

176,959

177,868

5

Stocks

31 January
2024
£

31 January
2023
£

Stocks

29,545

33,350

6

Debtors

31 January
2024
£

31 January
2023
£

Trade debtors

173,467

171,862

Other debtors

84,174

-

Prepayments

149

22,652

257,790

194,514

 

Cavalex Models Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

31 January
2024
£

31 January
2023
£

Due within one year

Trade creditors

482

22

Other creditors

7,605

3,734

Taxation and social security

66,629

40,801

Accruals and deferred income

303,209

348,426

377,925

392,983

8

Share capital

Allotted, called up and fully paid shares

31 January
2024

31 January
2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100