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Company Registration No. 08531944 (England and Wales)
Constant Power Solutions Ltd Unaudited accounts for the year ended 30 April 2024
Constant Power Solutions Ltd Unaudited accounts Contents
Page
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Constant Power Solutions Ltd Company Information for the year ended 30 April 2024
Director
B Wu
Company Number
08531944 (England and Wales)
Registered Office
Unit 4 The Vivars Industrial Centre Vivars Way Canal Road Selby North Yorkshire YO8 8BE England
Accountants
Pure Cloud Accountancy Limited
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Constant Power Solutions Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,280,237 
1,338,609 
Investments
1 
1 
1,280,238 
1,338,610 
Current assets
Inventories
883,442 
1,009,893 
Debtors
686,967 
882,909 
Cash at bank and in hand
1,833 
60,764 
1,572,242 
1,953,566 
Creditors: amounts falling due within one year
(1,175,222)
(1,581,855)
Net current assets
397,020 
371,711 
Total assets less current liabilities
1,677,258 
1,710,321 
Creditors: amounts falling due after more than one year
(671,245)
(708,284)
Provisions for liabilities
Deferred tax
- 
(6,000)
Net assets
1,006,013 
996,037 
Capital and reserves
Called up share capital
2 
4 
Capital redemption reserve
2 
- 
Profit and loss account
1,006,009 
996,033 
Shareholders' funds
1,006,013 
996,037 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 December 2024 and were signed on its behalf by
B Wu Director Company Registration No. 08531944
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Constant Power Solutions Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Constant Power Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 08531944. The registered office is Unit 4 The Vivars Industrial Centre, Vivars Way Canal Road, Selby, North Yorkshire, YO8 8BE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
Presentation currency
The accounts are presented in £ sterling which is the functional currency of the entity.
Going concern
The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
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 for assets and liabilities as at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10 years straight line basis
Motor vehicles
5 years straight line basis
Computer equipment
3 to 4 year straight line basis
Investments
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
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Constant Power Solutions Ltd Notes to the Accounts for the year ended 30 April 2024
Impairment of fixed assets
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.
Inventories
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.
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Constant Power Solutions Ltd Notes to the Accounts for the year ended 30 April 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 May 2023
1,207,067 
85,869 
123,681 
74,294 
50,597 
1,541,508 
Additions
- 
5,395 
- 
1,416 
2,253 
9,064 
Disposals
(539)
- 
(80,110)
- 
- 
(80,649)
At 30 April 2024
1,206,528 
91,264 
43,571 
75,710 
52,850 
1,469,923 
Depreciation
At 1 May 2023
- 
32,335 
78,576 
55,960 
36,028 
202,899 
Charge for the year
- 
8,677 
11,109 
10,579 
11,182 
41,547 
On disposals
- 
- 
(54,760)
- 
- 
(54,760)
At 30 April 2024
- 
41,012 
34,925 
66,539 
47,210 
189,686 
Net book value
At 30 April 2024
1,206,528 
50,252 
8,646 
9,171 
5,640 
1,280,237 
At 30 April 2023
1,207,067 
53,534 
45,105 
18,334 
14,569 
1,338,609 
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 May 2023
1 
Valuation at 30 April 2024
1 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
595,471 
603,656 
Accrued income and prepayments
73,055 
261,550 
Other debtors
18,441 
17,703 
686,967 
882,909 
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Constant Power Solutions Ltd Notes to the Accounts for the year ended 30 April 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
816,202 
896,736 
VAT
71,845 
637 
Trade creditors
215,695 
607,480 
Taxes and social security
(2,856)
5,960 
Other creditors
39,288 
62,366 
Loans from directors
32,380 
5,880 
Accruals
2,668 
2,796 
1,175,222 
1,581,855 
HSBC Bank plc holds a fixed and floating charge over all property and undertaking of the business.
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
671,245 
708,284 
HSBC Bank plc holds a fixed and floating charge over all property and undertaking of the business.
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
4 
10
Capital contribution reserve
On 30 March 2024 the Company purchased 200 £0.01 ordinary shares for cancellation. The aggregate amount paid for these shares was £35,873.03.
11
Transactions with related parties
Included within other creditors is a loan of £34,255 due to a close family member of a director.
12
Average number of employees
During the year the average number of employees was 17 (2023: 23).
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