Registration number:
CFE Lighting Ltd
for the Year Ended 30 April 2024
CFE Lighting Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
CFE Lighting Ltd
Company Information
Director |
Mr C Baldwin |
Registered office |
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Auditors |
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CFE Lighting Ltd
(Registration number: 09680713)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(997,663) |
(967,619) |
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Shareholders' deficit |
(997,563) |
(967,519) |
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
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CFE Lighting Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
The financial statements contain information about CFE Lighting Ltd as an individual company.
The functional currency is considered to be Pounds Sterling because it is the operational currency of the primary economic environment in which the company operates.
Audit report
Going concern
The financial statements have been prepared on a going concern basis. The director has a reasonable expectation that the company has adequate resources to continue in operational existence for at least a year from the date of approval of the financial statements by virtue of a commitment from the Baldwin Engineering Holdings Limited Group to finance its operations. The director thus continues to adopt the going concern basis for accounting in preparing the annual financial statements.
Tax
The tax expense for the period comprises deferred 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.
CFE Lighting Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
The current Corporation 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.
Intangible assets
Intangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated amortisation and accumulated impairment losses. Internally generated development costs are identified where there is an expectation that this cost can be reliably measured and will generate probable future economic benefits which will exceed one year are recognised as an intangible asset.
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:
Asset class |
Amortisation method and rate |
Development costs |
Over 3 years |
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 over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Property improvements |
10% Straight line per annum |
Furniture, fittings and equipment |
15% Reducing balance per annum |
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.
CFE Lighting Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
Trade debtors
Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.
Trade debtors and other receivables are recognised initially at the transaction price less provision for impairment. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Trade creditors and other payables are recognised at the original transaction price.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit And Loss Account as interest payable over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation, and a reliable estimate can be made of the amount of the obligation.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
CFE Lighting Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
Financial instruments
Classification
Recognition and measurement
Impairment
Current versus non-current classification
Staff numbers |
The average number of persons employed by the company (including the director) during the year was
CFE Lighting Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 May 2023 |
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At 30 April 2024 |
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Depreciation |
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At 1 May 2023 |
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Charge for the year |
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At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Stocks |
2024 |
2023 |
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Raw materials and consumables |
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Work in progress |
- |
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Debtors |
Note |
2024 |
2023 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Prepayments |
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Other debtors |
- |
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CFE Lighting Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
- |
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Creditors: amounts falling due after more than one year
2024 |
2023 |
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Due after one year |
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Other non-current financial liabilities |
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Loans and borrowings |
Current loans and borrowings
2024 |
2023 |
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Bank overdrafts |
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Related party transactions |
Summary of transactions with parent
Baldwin Engineering Holdings Limited
CFE Lighting Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
Summary of transactions with other related parties
Subsidiary companies of Baldwin Engineering Holdings Limited Group
During the year the company advanced unsecured, interest-free loans to Baldwin Technical Services Limited, a fellow subsidiary of Baldwin Engineering Holdings Limited Group. At 30 April 2024 the amounts recoverable in respect of loans amounted to £180,595 (2023 - £43,287). There are no fixed terms for repayment and the loan is recoverable on demand.
Parent and ultimate parent undertaking |
The company's immediate parent is
The largest and smallest group into which these financial statements are consolidated is Baldwin Engineering Holdings Limited. The consolidated financial statements of Baldwin Engineering Holdings
Limited are available upon request from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.