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Registration number: 07341799

C B Ductwork Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 August 2024

 

C B Ductwork Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

C B Ductwork Services Limited

Company Information

Director

Mr Christopher Brennan

Registered office

Suite G18
Genesis Centre
Innovation Way
Stoke on Trent
ST6 4BF

Accountants

FHS Accounting Limited
Chartered Certified Accountants
Suite G18
Genesis Centre
Innovation Way
Stoke on Trent
ST6 4BF

 

C B Ductwork Services Limited

(Registration number: 07341799)
Balance Sheet as at 29 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

6,002

7,647

Current assets

 

Stocks

6

800

1,000

Debtors

7

58,708

47,066

Cash at bank and in hand

 

616

1,143

 

60,124

49,209

Creditors: Amounts falling due within one year

8

(24,302)

(24,544)

Net current assets

 

35,822

24,665

Total assets less current liabilities

 

41,824

32,312

Creditors: Amounts falling due after more than one year

8

(5,726)

(11,598)

Net assets

 

36,098

20,714

Capital and reserves

 

Called up share capital

1

1

Retained earnings

36,097

20,713

Shareholders' funds

 

36,098

20,714

For the financial year ending 29 August 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 March 2025
 

 

C B Ductwork Services Limited

(Registration number: 07341799)
Balance Sheet as at 29 August 2024

.........................................
Mr Christopher Brennan
Director

 

C B Ductwork Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 August 2024

1

General information

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

The address of its registered office is:
Suite G18
Genesis Centre
Innovation Way
Stoke on Trent
ST6 4BF

These financial statements were authorised for issue by the director on 26 March 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.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

 

C B Ductwork Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 August 2024

Tax

The tax expense for the period comprises current 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.

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 & Machinery

15% Reducing Balance

Office Equipment

33% Reducing Balance

Motor Vehicle

25% Reducing Balance

Impairment

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.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
 

 

C B Ductwork Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 August 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

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.

Financial instruments

Recognition and measurement
A financial asset or financial liability is recognised only when the company 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.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis or similar credit risk characteristics.


 

 

C B Ductwork Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 August 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

C B Ductwork Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 August 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 30 August 2023

30,000

30,000

At 29 August 2024

30,000

30,000

Amortisation

At 30 August 2023

30,000

30,000

At 29 August 2024

30,000

30,000

Carrying amount

At 29 August 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 30 August 2023

4,653

16,000

20,653

Additions

175

-

175

At 29 August 2024

4,828

16,000

20,828

Depreciation

At 30 August 2023

3,475

9,531

13,006

Charge for the year

203

1,617

1,820

At 29 August 2024

3,678

11,148

14,826

Carrying amount

At 29 August 2024

1,150

4,852

6,002

At 29 August 2023

1,178

6,469

7,647

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings.
 

 

C B Ductwork Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 August 2024

6

Stocks

2024
£

2023
£

Other inventories

800

1,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

24,855

19,881

Other debtors

33,853

27,185

 

58,708

47,066

 

C B Ductwork Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 August 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

5,872

5,872

Trade creditors

 

4,154

-

Taxation and social security

 

12,919

17,027

Accruals and deferred income

 

1,295

1,645

Other creditors

 

62

-

 

24,302

24,544

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

5,726

11,598

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

5,726

11,598

2024
£

2023
£

Current loans and borrowings

Bank borrowings

5,872

5,872

10

Related party transactions

All transactions undertaken with related parties were under normal market conditions and/or not material.

 

C B Ductwork Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 August 2024

11

Non adjusting events after the financial period

There are no material events to report up to the date of approval of the financial statements by the board.