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REGISTERED NUMBER: 08564037 (England and Wales)

















FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

FOR

CPS VALVES & FITTINGS LIMITED

CPS VALVES & FITTINGS LIMITED (REGISTERED NUMBER: 08564037)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CPS VALVES & FITTINGS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024







DIRECTORS: Mrs. G Wheldon
Mr. S Wheldon



REGISTERED OFFICE: 11 Ashfield Park
Whickham
Tyne and Wear
NE16 4SQ



REGISTERED NUMBER: 08564037 (England and Wales)



ACCOUNTANTS: Read, Milburn & Co
71 Howard Street
North Shields
Tyne and Wear
NE30 1AF



BANKERS: Lloyds Bank plc
Whickham

CPS VALVES & FITTINGS LIMITED (REGISTERED NUMBER: 08564037)

BALANCE SHEET
31 DECEMBER 2024

2024 2024
Notes £    £   
CURRENT ASSETS
Debtors 5 688,523 72,572
Cash at bank 53,099 790,108
741,622 862,680
CREDITORS
Amounts falling due within one year 6 22,304 90,551
NET CURRENT ASSETS 719,318 772,129
TOTAL ASSETS LESS CURRENT
LIABILITIES

719,318

772,129

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 719,218 772,029
SHAREHOLDERS' FUNDS 719,318 772,129

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CPS VALVES & FITTINGS LIMITED (REGISTERED NUMBER: 08564037)

BALANCE SHEET - continued
31 DECEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2025 and were signed on its behalf by:





Mr. S Wheldon - Director


CPS VALVES & FITTINGS LIMITED (REGISTERED NUMBER: 08564037)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

1. STATUTORY INFORMATION

CPS Valves & Fittings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced goods and services provided, excluding VAT. Income is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Financial instruments
All financial assets and financial liabilities of the company qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


CPS VALVES & FITTINGS LIMITED (REGISTERED NUMBER: 08564037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2024 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2024 2,016
Disposals (2,016 )
At 31 December 2024 -
DEPRECIATION
At 1 April 2024 2,016
Eliminated on disposal (2,016 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -

CPS VALVES & FITTINGS LIMITED (REGISTERED NUMBER: 08564037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Trade debtors - 72,572
Other debtors 688,523 -
688,523 72,572

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Trade creditors - 23,646
Taxation and social security 8,755 61,570
Other creditors 13,549 5,335
22,304 90,551

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 December 2024 and the year ended 31 March 2024:

2024 2024
£    £   
Mr. S Wheldon and Mrs. G Wheldon
Balance outstanding at start of period - -
Amounts advanced 674,032 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 674,032 -

8. ULTIMATE CONTROLLING PARTY

The controlling party is the board of directors.