Company registration number 00597288 (England and Wales)
CATTON CONTROL CABLES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
CATTON CONTROL CABLES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CATTON CONTROL CABLES LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
1,000
20,000
Current assets
Stocks
4
856,070
800,131
Debtors
5
1,145,447
1,222,400
Cash at bank and in hand
1,713,114
1,542,909
3,714,631
3,565,440
Creditors: amounts falling due within one year
6
(3,465,123)
(3,350,494)
Net current assets
249,508
214,946
Net assets
250,508
234,946
Capital and reserves
Called up share capital
7
3,300
3,300
Capital redemption reserve
8
282
282
Profit and loss reserves
8
246,926
231,364
Total equity
250,508
234,946
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 4 February 2025 and are signed on its behalf by:
N Catton
Director
Company registration number 00597288 (England and Wales)
CATTON CONTROL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information
Catton Control Cables Limited is a private company, limited by shares, incorporated in England and Wales, United Kingdom. The registered office is 33-35 Kings Road, Hay Mills, Birmingham, B25 8JB. The company registration number is 00597288.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises raw materials, direct materials, work in progress and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the Statement of income and retained earnings. Reversals of impairment losses are also recognised in the Statement of income and retained earnings.
1.5
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within in current liabilities.
CATTON CONTROL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Statement of income and retained earnings in other administrative expenses.
1.7
Taxation
The tax expense represents tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the Statement of income and retained earnings because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the Statement of income and retained earnings for the period.
1.11
Rentals payable under operating leases, including any lease incentives received, are charged to the Statement of income and retained earnings on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
47
49
CATTON CONTROL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
3
Fixed asset investments
2024
2023
£
£
Investments
1,000
20,000
The directors have chosen to adopt the cost model, measuring the investment in associate at cost less any accumulated impairment losses. The directors consider that the carrying amounts of financial assets carried at amortised cost in the financial statements approximate to their fair values.
4
Stocks
2024
2023
£
£
Stocks
856,070
800,131
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,073,129
1,149,975
Other debtors
72,318
72,425
1,145,447
1,222,400
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
573,356
514,180
Amounts owed to group undertakings
2,133,616
2,347,470
Corporation tax
344,834
100,551
Other taxation and social security
156,516
171,154
Other creditors
256,801
217,139
3,465,123
3,350,494
7
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
3,300 Ordinary shares of £1 each
3,300
3,300
CATTON CONTROL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
8
Reserves
Capital redemption reserve
This reserve records the value of the Company's ordinary share capital repurchased from it's shareholders in current and prior periods.
Profit and loss reserves
This reserve records all current and prior period retained profits and losses.
9
Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £87,225 (2023: £80,160). Contributions totalling £nil (2023: £nil) were payable to the fund at the balance sheet date.
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
1,580
12,402
11
Financial commitments, guarantees and contingent liabilities
A group VAT registration is in force. The company is jointly and severally liable for the amount of VAT owed by Catton Cables Limited and Catton Holdings Limited. At the balance sheet date, this amounted to £nil (2022: £nil).
12
Related party transactions
The company has taken advantage of exemption, under the terms of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.
13
Parent company
The company is a subsidiary undertaking of Catton Holdings Limited, which owns 100% of the issued share capital of the company. The parent company's registered address is 33-35 Kings Road, Hay Mills, Birmingham, B25 8JB.
The ultimate parent undertaking is Catton Manufacturing Group Limited, a company registered in England and Wales, with registered office address of 33-35 Kings Road, Yardley, Birmingham, B25 8JB.
The ultimate controlling party is N Catton by virtue of his shareholding in Catton Manufacturing Group Limited.