Registered number
13862636
(England & Wales)
CVC (NW) Ltd
Filleted Accounts
29 February 2024
CVC (NW) Ltd
Registered number: 13862636
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,736 3,648
Current assets
Stocks 175,333 283,648
Debtors 4 15,103 41,870
Cash at bank and in hand 111,932 22,510
302,368 348,028
Creditors: amounts falling due within one year 5 (273,358) (347,231)
Net current assets 29,010 797
Net assets 31,746 4,445
Capital and reserves
Called up share capital 10 10
Profit and loss account 31,736 4,435
Shareholder's funds 31,746 4,445
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mohsin Ibrahim
Director
Approved by the board on 19 November 2024
CVC (NW) Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 4,560
At 29 February 2024 4,560
Depreciation
At 1 March 2023 912
Charge for the year 912
At 29 February 2024 1,824
Net book value
At 29 February 2024 2,736
At 28 February 2023 3,648
4 Debtors 2024 2023
£ £
Other debtors 15,103 41,870
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,427 65,471
Other loans - 55,580
Trade creditors 229,141 189,891
Taxation and social security costs 13,522 5,810
Other creditors 16,433 25,557
Director's account 1,835 3,422
Accruals and deferred income 3,000 1,500
273,358 347,231
6 Related party transactions
Directors account as shown in note 5 above is owed to the director Mr Mohsin Ibrahim. The loan is unsecured, interest free and repayable on demand.
7 Controlling party
The ultimate controlling party is the director Mr Mohsin Ibrahim who owns 100% of the issued and allotted share capital.
8 Other information
CVC (NW) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
200 Old Bank Lane
Blackburn
Lancashire
BB1 2HU
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