CI Wales and West Limited 02785202 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the administration of a group buying and wholesaling operation for the electrical trade Digita Accounts Production Advanced 6.30.9574.0 true true 02785202 2023-04-01 2024-03-31 02785202 2024-03-31 02785202 bus:OrdinaryShareClass1 2024-03-31 02785202 bus:OtherShareClass1 2024-03-31 02785202 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-03-31 02785202 core:CurrentFinancialInstruments 2024-03-31 02785202 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 02785202 bus:SmallEntities 2023-04-01 2024-03-31 02785202 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 02785202 bus:FilletedAccounts 2023-04-01 2024-03-31 02785202 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02785202 bus:RegisteredOffice 2023-04-01 2024-03-31 02785202 bus:Director4 2023-04-01 2024-03-31 02785202 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 02785202 bus:OtherShareClass1 2023-04-01 2024-03-31 02785202 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02785202 countries:EnglandWales 2023-04-01 2024-03-31 02785202 2022-04-01 2023-03-31 02785202 2023-03-31 02785202 bus:OrdinaryShareClass1 2023-03-31 02785202 bus:OtherShareClass1 2023-03-31 02785202 core:CurrentFinancialInstruments 2023-03-31 02785202 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02785202

CI Wales and West Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

CI Wales and West Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

CI Wales and West Limited

(Registration number: 02785202)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Other financial assets

4

1,392

1,392

Current assets

 

Debtors

5

9,640

10,921

Cash at bank and in hand

 

61,585

59,905

 

71,225

70,826

Creditors: Amounts falling due within one year

6

(41,865)

(39,963)

Net current assets

 

29,360

30,863

Net assets

 

30,752

32,255

Capital and reserves

 

Called up share capital

7

14,801

14,801

Profit and loss account

15,951

17,454

Shareholders' funds

 

30,752

32,255

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 16 September 2024 and signed on its behalf by:
 


S.A. Palmer
Director

 

CI Wales and West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Castle Street
Bridgwater
Somerset
TA6 3DT

Principal activity

The principal activity of the company is the administration of a group buying and wholesaling operation for the electrical trade

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

CI Wales and West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

CI Wales and West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

1,392

1,392

At 31 March 2024

1,392

1,392

Impairment

Carrying amount

At 31 March 2024

1,392

1,392

5

Debtors

2024
£

2023
£

Other debtors

9,640

10,921

9,640

10,921

 

CI Wales and West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

1,148

470

Other creditors

40,717

39,493

41,865

39,963

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary 'A' shares of £200 each

74

14,800

74

14,800

Subscriber share of £1 each

1

1

1

1

75

14,801

75

14,801

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.