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COMPANY REGISTRATION NUMBER: 03315781
CBAC Services Ltd
Unaudited Financial Statements
30 April 2024
CBAC Services Ltd
Financial Statements
Year ended 30 April 2024
Contents
Page
Director's report
1
Report to the director on the preparation of the unaudited statutory financial statements
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
6
CBAC Services Ltd
Director's Report
Year ended 30 April 2024
The director presents his report and the unaudited financial statements of the company for the year ended 30 April 2024 .
Principal activities
The principal activity of the company during the year was Building services and the installation and maintenance of air conditioning equipment.
Director
The director who served the company during the year was as follows:
Mr C Burrows
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 14 January 2025 and signed on behalf of the board by:
Mr C Burrows
Mr C Burrows
Director
Company Secretary
CBAC Services Ltd
Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of CBAC Services Ltd
Year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of CBAC Services Ltd for the year ended 30 April 2024, which comprise the statement of income and retained earnings, statement of financial position and the 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 www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of CBAC Services Ltd in accordance with the terms of our engagement letter dated 30 October 2014. Our work has been undertaken solely to prepare for your approval the financial statements of CBAC Services Ltd and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at 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 CBAC Services Ltd and its director for our work or for this report.
It is your duty to ensure that CBAC Services Ltd 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 CBAC Services Ltd. You consider that CBAC Services Ltd 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 CBAC Services Ltd. 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.
S R A ACCOUTANCY & TAXATION SERVICES Chartered accountants
Unit 11+13 Purdeys way Rochford Essex SS4 1ND
14 January 2025
CBAC Services Ltd
Statement of Income and Retained Earnings
Year ended 30 April 2024
2024
2023
Note
£
£
Turnover
892,763
683,116
Cost of sales
677,415
481,294
---------
---------
Gross profit
215,348
201,822
Distribution costs
41,205
46,562
Administrative expenses
123,180
157,630
---------
---------
Operating profit/(loss)
50,963
( 2,370)
Interest payable and similar expenses
2,196
3,522
---------
---------
Profit/(loss) before taxation
5
48,767
( 5,892)
Tax on profit/(loss)
1,181
--------
-------
Profit/(loss) for the financial year and total comprehensive income
48,767
( 7,073)
--------
-------
Dividends paid and payable
( 33,500)
( 30,000)
Retained earnings at the start of the year
144,934
182,007
---------
---------
Retained earnings at the end of the year
160,201
144,934
---------
---------
All the activities of the company are from continuing operations.
CBAC Services Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
74,385
84,246
Current assets
Stocks
5,000
5,500
Debtors
7
183,459
90,480
Cash at bank and in hand
77,036
89,838
---------
---------
265,495
185,818
Creditors: amounts falling due within one year
8
158,779
81,319
---------
---------
Net current assets
106,716
104,499
---------
---------
Total assets less current liabilities
181,101
188,745
Creditors: amounts falling due after more than one year
9
20,800
43,711
---------
---------
Net assets
160,301
145,034
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
160,201
144,934
---------
---------
Shareholders funds
160,301
145,034
---------
---------
These financial statements have been prepared 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'.
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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CBAC Services Ltd
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 14 January 2025 , and are signed on behalf of the board by:
Mr C Burrows
Director
Company registration number: 03315781
CBAC Services Ltd
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 11 Purdeys Way, Rochford, Essex, SS4 1ND, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
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.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
Fixtures and Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Stocks
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 6 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
23,746
28,893
--------
--------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 May 2023
24,331
131,003
155,334
Additions
21,813
21,813
Disposals
( 32,001)
( 32,001)
--------
---------
---------
At 30 April 2024
24,331
120,815
145,146
--------
---------
---------
Depreciation
At 1 May 2023
10,989
60,099
71,088
Charge for the year
3,336
20,410
23,746
Disposals
( 24,073)
( 24,073)
--------
---------
---------
At 30 April 2024
14,325
56,436
70,761
--------
---------
---------
Carrying amount
At 30 April 2024
10,006
64,379
74,385
--------
---------
---------
At 30 April 2023
13,342
70,904
84,246
--------
---------
---------
7. Debtors
2024
2023
£
£
Trade debtors
180,830
88,903
Other debtors
2,629
1,577
---------
--------
183,459
90,480
---------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
96,442
26,306
Corporation tax
944
Social security and other taxes
16,758
18,825
Other creditors
35,579
25,244
---------
--------
158,779
81,319
---------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
14,999
24,999
Other creditors
5,801
18,712
--------
--------
20,800
43,711
--------
--------