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Registered number: 01316450
Charnwood Machinery Limited
Financial Statements
For The Year Ended 30 June 2024
Cound & Co LLP
Chartered Accountants
1 Princes Court Royal Way
Loughborough
LE11 5XR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01316450
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 928,972 1,044,880
928,972 1,044,880
CURRENT ASSETS
Stocks 5 861,667 1,358,748
Debtors 6 263,862 310,261
Cash at bank and in hand 1,169,234 597,795
2,294,763 2,266,804
Creditors: Amounts Falling Due Within One Year 7 (110,976 ) (128,753 )
NET CURRENT ASSETS (LIABILITIES) 2,183,787 2,138,051
TOTAL ASSETS LESS CURRENT LIABILITIES 3,112,759 3,182,931
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,609 ) (10,927 )
NET ASSETS 3,101,150 3,172,004
CAPITAL AND RESERVES
Called up share capital 8 834 834
Capital redemption reserve 166 166
Profit and Loss Account 3,100,150 3,171,004
SHAREHOLDERS' FUNDS 3,101,150 3,172,004
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A J Cook
Director
19th November 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Charnwood Machinery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01316450 . The registered office is Cedar Court Walker Road, Forest Business Park, Bardon Hill, Coalville, Leicestershire, LE67 1TU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 50 years straight line
Plant & Machinery 20-33% of net book value per annum
Motor Vehicles 25% of net book value per annum
Fixtures & Fittings 15% of net book value per annum
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Taxation expense represents the sum of the tax currently payable and deferred tax. Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered a net liability may crystallise.

2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 12)
12 12
4. Tangible Assets
Land & Property
Freehold Investment Properties Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 July 2023 1,166,837 96,159 71,093 -
Additions - - 4,063 7,260
Disposals - (96,159 ) - -
As at 30 June 2024 1,166,837 - 75,156 7,260
Depreciation
As at 1 July 2023 275,627 - 46,545 -
Provided during the period 23,338 - 5,721 1,452
Disposals - - - -
As at 30 June 2024 298,965 - 52,266 1,452
Net Book Value
As at 30 June 2024 867,872 - 22,890 5,808
As at 1 July 2023 891,210 96,159 24,548 -
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Fixtures & Fittings Total
£ £
Cost
As at 1 July 2023 123,027 1,457,116
Additions 6,893 18,216
Disposals (5,937 ) (102,096 )
As at 30 June 2024 123,983 1,373,236
Depreciation
As at 1 July 2023 90,064 412,236
Provided during the period 7,454 37,965
Disposals (5,937 ) (5,937 )
As at 30 June 2024 91,581 444,264
Net Book Value
As at 30 June 2024 32,402 928,972
As at 1 July 2023 32,963 1,044,880
5. Stocks
2024 2023
£ £
Stock 861,667 1,358,748
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 250,822 299,218
Prepayments and accrued income 8,931 11,043
Corporation tax repayable 4,109 -
263,862 310,261
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 68,636 40,906
Corporation tax - 16,265
VAT 36,759 65,561
Other creditors 792 947
Accruals and deferred income 4,789 5,074
110,976 128,753
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 834 834
9. Off-Balance Sheet Arrangements
Total financial commitments, guarantees & contingencies which are not included in the balance sheet amount to £56,606 (2023: £58,119).
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