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Registered Number: 09230430
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2024

for

CFC HIRE LIMITED

Directors Mr N W Curtis
Mrs L A Curtis
Mr M T Felstead
Registered Number 09230430
Registered Office Worthyvale Manor
Camelford
Cornwall
PL32 9TT
Accountants Metherell Gard
Old Memorial Hall
Morval
Looe
PL13 1PN
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 March 2024
Principal activities
Principal activity of the company during the financial year was of plant hire.
Directors
The directors who served the company throughout the year were as follows:
Mr N W Curtis
Mrs L A Curtis
Mr M T Felstead
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Mr N W Curtis
Director

Date approved: 28 March 2025
2
 
 
Notes
 
2024
£
  2023
£
Turnover 304,687    304,113 
Cost of sales (77,623)   (77,669)
Gross profit 227,064    226,444 
Administrative expenses (190,339)   (243,003)
Operating profit/(loss) 36,725    (16,559)
Interest payable and similar charges (10,058)   (3,455)
Profit/(Loss) on ordinary activities before taxation 26,667    (20,014)
Tax on profit on ordinary activities (5,066)   3,582 
Profit/(Loss) for the financial year 21,601    (16,432)
 
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 128,518    130,736 
128,518    130,736 
Current assets      
Debtors 4 316,079    160,977 
Cash at bank and in hand (48)   17,002 
316,031    177,979 
Creditors: amount falling due within one year 5 (238,140)   (217,216)
Net current assets 77,891    (39,237)
 
Total assets less current liabilities 206,409    91,499 
Creditors: amount falling due after more than one year 6 (118,018)   (24,350)
Provisions for liabilities 7 (23,434)   (23,793)
Net assets 64,957    43,356 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 64,857    43,256 
Shareholders' funds 64,957    43,356 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 28 March 2025 and were signed on its behalf by:


-------------------------------
Mr N W Curtis
Director
4
General Information
CFC Hire Limited is a private company, limited by shares, registered in England and Wales, registration number 09230430, registration address Worthyvale Manor, Camelford, Cornwall, PL32 9TT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 April 2023 273,518    273,518 
Additions 22,000    22,000 
Disposals  
At 31 March 2024 295,518    295,518 
Depreciation
At 01 April 2023 142,782    142,782 
Charge for year 24,218    24,218 
On disposals  
At 31 March 2024 167,000    167,000 
Net book values
Closing balance as at 31 March 2024 128,518    128,518 
Opening balance as at 01 April 2023 130,736    130,736 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 316,079    160,977 
316,079    160,977 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 48,319    70,502 
Bank Loans & Overdrafts 23,654    10,000 
Taxation and Social Security 67,863    58,551 
Obligations under HP/Financial Leases 20,414   
Other Creditors 77,890    78,163 
238,140    217,216 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Trade Creditors  
Obligations under HP/Financial Leases 34,572   
Other Creditors 83,446    24,350 
118,018    24,350 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 23,434    23,793 
23,434    23,793 

5