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Registration number: 6834841

Cable Termination Components Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Cable Termination Components Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Cable Termination Components Limited

Company Information

Directors

Mr Christopher Harris

Mr Andrew Bell

Registered office

Unit G
Brunel Court
Stroudwater Business Park
Stonehouse
Gloucestershire
GL10 3SW

Accountants

Periscope Group Limited
Faveo House, 2 Somerville Court
Banbury Business Park
Adderbury
Oxfordshire
OX17 3SN

 

Cable Termination Components Limited

(Registration number: 6834841)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

24,170

31,164

Current assets

 

Stocks

5

347,422

345,387

Debtors

6

560,656

548,369

Cash at bank and in hand

 

11,962

11,147

 

920,040

904,903

Creditors: Amounts falling due within one year

7

(810,627)

(793,182)

Net current assets

 

109,413

111,721

Total assets less current liabilities

 

133,583

142,885

Creditors: Amounts falling due after more than one year

7

(48,914)

(95,003)

Provisions for liabilities

(4,592)

(5,921)

Net assets

 

80,077

41,961

Capital and reserves

 

Called up share capital

8

4

4

Retained earnings

80,073

41,957

Shareholders' funds

 

80,077

41,961

For the financial year ending 30 April 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 Profit and Loss Account.

Approved and authorised by the Board on 13 January 2025 and signed on its behalf by:
 

 

Cable Termination Components Limited

(Registration number: 6834841)
Balance Sheet as at 30 April 2024

.........................................
Mr Christopher Harris
Director

.........................................
Mr Andrew Bell
Director

 

Cable Termination Components Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit G
Brunel Court
Stroudwater Business Park
Stonehouse
Gloucestershire
GL10 3SW

These financial statements were authorised for issue by the Board on 13 January 2025.

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.

Going concern

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

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 sales/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 and deferred 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.

 

Cable Termination Components Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

Reducing balance 25%

Fixtures and fittings

Reducing balance 15%

Motor vehicles

Reducing balance 25%

Office equipment

Straight line 33%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Cable Termination Components Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Cable Termination Components Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 12).

 

Cable Termination Components Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

29,277

25,909

7,500

62,686

At 30 April 2024

29,277

25,909

7,500

62,686

Depreciation

At 1 May 2023

19,625

6,882

5,015

31,522

Charge for the year

1,616

4,757

621

6,994

At 30 April 2024

21,241

11,639

5,636

38,516

Carrying amount

At 30 April 2024

8,036

14,270

1,864

24,170

At 30 April 2023

9,652

19,027

2,485

31,164

5

Stocks

2024
£

2023
£

Other inventories

347,422

345,387

6

Debtors

Current

2024
£

2023
£

Trade debtors

552,571

539,546

Prepayments

4,850

5,588

Other debtors

3,235

3,235

 

560,656

548,369

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

234,378

258,547

Trade creditors

 

426,753

417,570

Taxation and social security

 

104,614

97,725

Other creditors

 

44,882

19,340

 

810,627

793,182

Creditors: amounts falling due after more than one year

 

Cable Termination Components Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

48,914

95,003

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

4

4

4

4

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

43,333

40,000

Hire purchase contracts

5,581

55,003

48,914

95,003

Current loans and borrowings

2024
£

2023
£

Bank borrowings

228,289

252,458

Hire purchase contracts

6,089

6,089

234,378

258,547

10

Dividends

2024

2023

£

£

Final dividend of £Nil (2023 - £Nil) per ordinary share

-

-

Interim dividend of £67,000.00 (2023 - £94,000.00) per ordinary share

186,000

258,000

186,000

258,000

 

 

11

Related party transactions

 

Cable Termination Components Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

15,912

15,912

Contributions paid to money purchase schemes

11,500

16,000

27,412

31,912

Dividends paid to directors

2024
£

2023
£

Mr Andrew Bell

Dividend

26,000

35,000

 

 

Mr Christopher Harris

Dividend

67,000

94,000