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REGISTERED NUMBER: 04103234 (England and Wales)

















Financial Statements

for the Year Ended 29 February 2024

for

The Cubra Casting Company Limited

The Cubra Casting Company Limited (Registered number: 04103234)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


The Cubra Casting Company Limited

Company Information
for the year ended 29 February 2024







DIRECTORS: J N Ellis
M J Ellis
K D Motherwell



SECRETARY: D B Oakes



REGISTERED OFFICE: Units D1 & D2 Halesfield 21
TELFORD
Shropshire
TF7 4NX



REGISTERED NUMBER: 04103234 (England and Wales)



AUDITORS: WR Partners
Chartered Accountants and Statutory Auditor
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG



BANKERS: Lloyds TSB Bank Plc
The Bridge
Walsall
West Midlands
WS1 1LG

The Cubra Casting Company Limited (Registered number: 04103234)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 141,060 544,174
141,060 544,174

CURRENT ASSETS
Inventories 135,896 236,791
Debtors 6 429,665 410,743
Cash at bank and in hand 376,203 520,362
941,764 1,167,896
CREDITORS
Amounts falling due within one year 7 198,539 387,782
NET CURRENT ASSETS 743,225 780,114
TOTAL ASSETS LESS CURRENT
LIABILITIES

884,285

1,324,288

PROVISIONS FOR LIABILITIES 34,708 45,273
NET ASSETS 849,577 1,279,015

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 8 1,572 172,735
Retained earnings 8 847,005 1,105,280
849,577 1,279,015

The Cubra Casting Company Limited (Registered number: 04103234)

Statement of Financial Position - continued
29 February 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 Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





J N Ellis - Director


The Cubra Casting Company Limited (Registered number: 04103234)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

The Cubra Casting Company 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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold property - 2% straight line
Plant and machinery - 20% straight line
Fixtures and fittings - 20% to 25% straight line
Motor vehicles - 25% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

The Cubra Casting Company Limited (Registered number: 04103234)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
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 15 (2023 - 18 ) .

The Cubra Casting Company Limited (Registered number: 04103234)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 8,001
AMORTISATION
At 1 March 2023
and 29 February 2024 8,001
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 March 2023 337,791 613,668 13,804 10,500 975,763
Additions - 5,285 - - 5,285
Disposals (337,791 ) (202,612 ) - - (540,403 )
At 29 February 2024 - 416,341 13,804 10,500 440,645
DEPRECIATION
At 1 March 2023 26,394 389,261 8,976 6,958 431,589
Charge for year 1,692 78,202 2,011 886 82,791
Eliminated on disposal (28,086 ) (186,709 ) - - (214,795 )
At 29 February 2024 - 280,754 10,987 7,844 299,585
NET BOOK VALUE
At 29 February 2024 - 135,587 2,817 2,656 141,060
At 28 February 2023 311,397 224,407 4,828 3,542 544,174

The Cubra Casting Company Limited (Registered number: 04103234)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

5. PROPERTY, PLANT AND EQUIPMENT - continued

Cost or valuation at 29 February 2024 is represented by:

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Valuation in 2018 (410,093 ) (58,142 ) (12,085 ) (480,320 )
Cost 826,434 71,946 22,585 920,965
416,341 13,804 10,500 440,645

If tangible fixed assets had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 920,965 1,310,167
Aggregate depreciation 781,477 1,000,001

Value of land in freehold land and buildings - 191,871

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 370,166 396,371
Amounts owed by group undertakings 49,915 -
Other debtors 9,584 14,372
429,665 410,743

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 46,436 188,527
Amounts owed to group undertakings - 65,994
Taxation and social security 47,398 89,643
Other creditors 104,705 43,618
198,539 387,782

The Cubra Casting Company Limited (Registered number: 04103234)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2023 1,105,280 172,735 1,278,015
Deficit for the year (104,438 ) (104,438 )
Dividends (325,000 ) (325,000 )
Revaluation - transfer to
retained earnings

171,163

(171,163

)

-

At 29 February 2024 847,005 1,572 848,577

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Helen Pierce (Senior Statutory Auditor)
for and on behalf of WR Partners

10. RELATED PARTY DISCLOSURES

During the year the company operated a loan account with Wrekin Shell Mouldings Ltd, it's parent company.

At the balance sheet date the loan balance was £48,469 (2023: £Nil), no interest was charged on this loan during the year (2023: £Nil).

During the year the company paid dividends of £325,000 (2023: £nil) to Wrekin Shell Mouldings Limited.

11. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking of the company is Wrekin Shell Mouldings Limited.

The registered office and business address of Wrekin Shell Mouldings Limited is Units D1 and D2, Halesfield 21, Telford, TF7 4NX.

A copy of the group accounts can be obtained from Companies House.