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Company registration number: 10470792
Cape Fire Engineering Limited
Unaudited filleted financial statements
30 November 2023
Cape Fire Engineering Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Cape Fire Engineering Limited
Directors and other information
Directors Ms L Pearson
Mr G Staschen
Company number 10470792
Registered office 63 Bowmans Way
Dunstable
Bedfordshire
LU6 3LF
Business address 1b Elizabeth Villas
Pitt Road
Epsom
Surrey
KT17 4ET
Accountants Faux & Company
63 Bowmans Way
Dunstable
Bedfordshire
LU6 3LF
Cape Fire Engineering Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Cape Fire Engineering Limited
Year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cape Fire Engineering Limited for the year ended 30 November 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Cape Fire Engineering Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Cape Fire Engineering Limited and state those matters that we have agreed to state to the board of directors of Cape Fire Engineering Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cape Fire Engineering Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Cape Fire Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cape Fire Engineering Limited. You consider that Cape Fire Engineering Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Cape Fire Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Faux & Company
Chartered Certified Accountants
63 Bowmans Way
Dunstable
Bedfordshire
LU6 3LF
28 November 2024
Cape Fire Engineering Limited
Statement of financial position
30 November 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 61,484 27,920
_______ _______
61,484 27,920
Current assets
Debtors 6 269,943 178,603
Cash at bank and in hand 205,446 114,283
_______ _______
475,389 292,886
Creditors: amounts falling due
within one year 7 ( 213,010) ( 132,386)
_______ _______
Net current assets 262,379 160,500
_______ _______
Total assets less current liabilities 323,863 188,420
Creditors: amounts falling due
after more than one year 8 ( 48,651) ( 24,905)
Provisions for liabilities ( 13,823) -
_______ _______
Net assets 261,389 163,515
_______ _______
Capital and reserves
Called up share capital 300 300
Profit and loss account 261,089 163,215
_______ _______
Shareholders funds 261,389 163,515
_______ _______
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 November 2024 , and are signed on behalf of the board by:
Mr G Staschen
Director
Company registration number: 10470792
Cape Fire Engineering Limited
Statement of changes in equity
Year ended 30 November 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 December 2021 300 19,812 20,112
Profit for the year 259,503 259,503
_______ _______ _______
Total comprehensive income for the year - 259,503 259,503
Dividends paid and payable ( 116,100) ( 116,100)
_______ _______ _______
Total investments by and distributions to owners - ( 116,100) ( 116,100)
_______ _______ _______
At 30 November 2022 and 1 December 2022 300 163,215 163,515
Profit for the year 248,874 248,874
_______ _______ _______
Total comprehensive income for the year - 248,874 248,874
Dividends paid and payable ( 151,000) ( 151,000)
_______ _______ _______
Total investments by and distributions to owners - ( 151,000) ( 151,000)
_______ _______ _______
At 30 November 2023 300 261,089 261,389
_______ _______ _______
Cape Fire Engineering Limited
Notes to the financial statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 63 Bowmans Way, Dunstable, Bedfordshire, LU6 3LF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Staff costs
The average number of persons employed by the company during the year amounted to 3 (2022: 2 ).
The aggregate payroll costs incurred during the year were:
2023 2022
£ £
Wages and salaries 31,832 28,800
Social security costs 294 3,435
_______ _______
32,126 32,235
_______ _______
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 December 2022 43,000 - 43,000
Additions 8,639 40,889 49,528
_______ _______ _______
At 30 November 2023 51,639 40,889 92,528
_______ _______ _______
Depreciation
At 1 December 2022 15,080 - 15,080
Charge for the year 5,741 10,223 15,964
_______ _______ _______
At 30 November 2023 20,821 10,223 31,044
_______ _______ _______
Carrying amount
At 30 November 2023 30,818 30,666 61,484
_______ _______ _______
At 30 November 2022 27,920 - 27,920
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 204,187 135,377
Other debtors 65,756 43,226
_______ _______
269,943 178,603
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 10,920 10,920
Corporation tax 141,699 78,980
Other creditors 60,391 42,486
_______ _______
213,010 132,386
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 14,905 24,905
Other creditors 33,746 -
_______ _______
48,651 24,905
_______ _______
The company's loan was taken during the previous period under the government backed business bounce back scheme.
9. Other financial commitments
During the year under review, the company purchased a van under a hire purchase arrangement. This HP agreement is secured on the vehicle.
10. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
2023 2022
£ £
Ms L Pearson 25 25
Mr G Staschen 89 89
_______ _______
114 114
_______ _______