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REGISTERED NUMBER: 09920464 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 August 2024

for

CMT Engineering Limited

CMT Engineering Limited (Registered number: 09920464)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CMT Engineering Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: Mrs A Agrawal





REGISTERED OFFICE: Corngreaves Road
Cradley Heath
West Midlands
B64 7DG





REGISTERED NUMBER: 09920464 (England and Wales)





ACCOUNTANTS: Cox & Co Limited
Chartered Certified Accountants
3 Hagley Court North
The Waterfront
Dudley
West Midlands
DY5 1XF

CMT Engineering Limited (Registered number: 09920464)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 387,633 413,364
387,633 413,364

CURRENT ASSETS
Stocks 3,573,322 3,812,758
Debtors 6 1,721,505 1,879,460
Cash at bank and in hand 410,926 97,187
5,705,753 5,789,405
CREDITORS
Amounts falling due within one year 7 3,614,918 3,886,975
NET CURRENT ASSETS 2,090,835 1,902,430
TOTAL ASSETS LESS CURRENT LIABILITIES 2,478,468 2,315,794

CREDITORS
Amounts falling due after more than one year 8 (413,777 ) (296,355 )

PROVISIONS FOR LIABILITIES (60,863 ) (58,046 )
NET ASSETS 2,003,828 1,961,393

CAPITAL AND RESERVES
Called up share capital 11 500,000 500,000
Other reserves 459,650 459,650
Retained earnings 1,044,178 1,001,743
SHAREHOLDERS' FUNDS 2,003,828 1,961,393

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

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

The director acknowledges her 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.

CMT Engineering Limited (Registered number: 09920464)

Balance Sheet - continued
31 August 2024


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 24 October 2024 and were signed by:





Mrs A Agrawal - Director


CMT Engineering Limited (Registered number: 09920464)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

CMT Engineering 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other intangible fixed assets are being amortised evenly over their estimated useful life of ten years.

Domain name is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost and 10% on cost
Fixtures and fittings - 20% on cost and 10% on cost
Motor vehicles - 33% on cost and 10% on cost
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.

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.

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.

CMT Engineering Limited (Registered number: 09920464)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 42 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 24,987 111 25,098
AMORTISATION
At 1 September 2023
and 31 August 2024 24,987 111 25,098
NET BOOK VALUE
At 31 August 2024 - - -
At 31 August 2023 - - -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 700,490 54,363 62,435 39,994 857,282
Additions 31,751 40,884 5,833 5,652 84,120
Disposals - - (5,833 ) - (5,833 )
At 31 August 2024 732,241 95,247 62,435 45,646 935,569
DEPRECIATION
At 1 September 2023 358,810 18,710 28,999 37,399 443,918
Charge for year 73,138 12,375 16,329 2,176 104,018
At 31 August 2024 431,948 31,085 45,328 39,575 547,936
NET BOOK VALUE
At 31 August 2024 300,293 64,162 17,107 6,071 387,633
At 31 August 2023 341,680 35,653 33,436 2,595 413,364

CMT Engineering Limited (Registered number: 09920464)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 September 2023
and 31 August 2024 8,999
DEPRECIATION
At 1 September 2023 5,249
Charge for year 1,800
At 31 August 2024 7,049
NET BOOK VALUE
At 31 August 2024 1,950
At 31 August 2023 3,750

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 1,603,849 1,783,946
Other debtors 117,656 95,514
1,721,505 1,879,460

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 9) 2,157 1,884
Trade creditors 845,681 1,308,498
Taxation and social security 198,178 211,823
Other creditors 2,568,902 2,364,770
3,614,918 3,886,975

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 9) - 2,157
Other creditors 413,777 294,198
413,777 296,355

CMT Engineering Limited (Registered number: 09920464)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.8.24 31.8.23
£    £   
Net obligations repayable:
Within one year 2,157 1,884
Between one and five years - 2,157
2,157 4,041

Non-cancellable operating leases
31.8.24 31.8.23
£    £   
Within one year 111,000 111,000
Between one and five years 222,000 333,000
333,000 444,000

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Hire purchase contracts 2,157 4,041

Hire purchase is secured upon the asset financed.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
500,000 Ordinary £1 500,000 500,000

12. CONTINGENT LIABILITIES

The Company has guaranteed bank loans of CMT Properties Limited, a company under the common control of the director. At the end of the year the outstanding bank loans subject to the guarantee were £1,795,389 (2023 - £1,832,622).

13. RELATED PARTY DISCLOSURES

Included within other creditors after one year is an unsecured loan from the director. Interest at 8% per annum was charged on the outstanding balance (6% from August 2024). The balance outstanding at 31 August 2024 was £413,777 (2023 - £294,198).

Included within other creditors is a loan of £354,522 (2023 - £307,522) repayable on demand from CMT Properties Limited, a company which is under the control of the director. Interest of 5.74% was charged from 1 August 2021. Prior to this the loan was interest free.

14. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs A Agrawal.