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Company No: 06157103 (England and Wales)

CF&L LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

CF&L LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

CF&L LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
CF&L LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Clive David Morris
Deborah Julia Morris
SECRETARY Deborah Julia Morris
REGISTERED OFFICE 5th Floor Dencora Court
Tylers Avenue
Southend-On-Sea
SS1 2BB
United Kingdom
COMPANY NUMBER 06157103 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
CF&L LIMITED

BALANCE SHEET

As at 31 March 2024
CF&L LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 255,289 227,719
255,289 227,719
Current assets
Debtors 4 5,623,569 5,424,778
Cash at bank and in hand 181 3,743
5,623,750 5,428,521
Creditors: amounts falling due within one year 5 ( 3,528,989) ( 3,609,242)
Net current assets 2,094,761 1,819,279
Total assets less current liabilities 2,350,050 2,046,998
Creditors: amounts falling due after more than one year 6 ( 383,938) ( 568,855)
Net assets 1,966,112 1,478,143
Capital and reserves
Called-up share capital 7 618,000 618,000
Profit and loss account 1,348,112 860,143
Total shareholders' funds 1,966,112 1,478,143

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of CF&L Limited (registered number: 06157103) were approved and authorised for issue by the Board of Directors on 15 November 2024. They were signed on its behalf by:

Deborah Julia Morris
Director
CF&L LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
CF&L LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

CF&L Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5th Floor Dencora Court, Tylers Avenue, Southend-On-Sea, SS1 2BB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 17 20

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 780,219 780,219
Additions 161,378 161,378
Disposals ( 40,926) ( 40,926)
At 31 March 2024 900,671 900,671
Accumulated depreciation
At 01 April 2023 552,500 552,500
Charge for the financial year 119,313 119,313
Disposals ( 26,431) ( 26,431)
At 31 March 2024 645,382 645,382
Net book value
At 31 March 2024 255,289 255,289
At 31 March 2023 227,719 227,719

4. Debtors

2024 2023
£ £
Trade debtors 2,879,552 2,871,239
Amounts owed by Group undertakings 2,700,547 2,488,441
Other debtors 43,470 65,098
5,623,569 5,424,778

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 110,158 134,325
Trade creditors 76,211 266,562
Amounts owed to Group undertakings 628,923 238,914
Other taxation and social security 12,218 0
Obligations under finance leases and hire purchase contracts 56,612 73,322
Other creditors 2,644,867 2,896,119
3,528,989 3,609,242

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 219,375 410,429
Obligations under finance leases and hire purchase contracts 164,563 158,426
383,938 568,855

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
550,000 Ordinary shares of £ 1.00 each 550,000 550,000
68,000 Preference shares of £ 1.00 each 68,000 68,000
618,000 618,000