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REGISTERED NUMBER: 07012921 (England and Wales)










Group Strategic Report, Report of the Director and

Consolidated Financial Statements

For The Year Ended 31 October 2024

for

CFR Investments Limited

CFR Investments Limited (Registered number: 07012921)






Contents of the Consolidated Financial Statements
For The Year Ended 31 October 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


CFR Investments Limited

Company Information
For The Year Ended 31 October 2024







DIRECTOR: P S Roberts





REGISTERED OFFICE: Barrington House
Kingsditch Lane
Cheltenham
GL51 9NN





REGISTERED NUMBER: 07012921 (England and Wales)





AUDITORS: Kingscott Dix Limited
Chartered Accountants
and Statutory Auditor
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

CFR Investments Limited (Registered number: 07012921)

Group Strategic Report
For The Year Ended 31 October 2024

The director presents his strategic report of the company and the group for the year ended 31 October 2024.

REVIEW OF BUSINESS
The principle activity of the group in the year under review was that of the provider of electrical and mechanical design, installation and maintenance services.

The group's key financial indicators were considered to be Turnover, Gross Profit and Profit before Tax which are detailed on the income statement.

The group has continued to secure repeat business from loyal and valued clients while also expanding into new sectors that offer exciting opportunities for growth. The group's proven track record of impeccable customer service and reliable front-end performance has contributed to this success and will help ensure that these opportunities are both protected and maximized to their full potential.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors have assessed the possible risks facing the group over the next twelve months. The main risk factors include continuing international and UK economic uncertainty and its effect on the supply chain.

The directors believe that focusing on customer service, retaining a lean business model and utilising multiple suppliers will mitigate the possible risks caused by the economic uncertainty, and will also provide continued growth and satisfactory trading results in the future.

While general trading will always remain competitive, the diversity of the group's contracting portfolio, as well as expanding the customer/supplier base, helps manage any exposure to a downturn in any one area. The Board of Directors continually reviewed market conditions to assess both risks and opportunities that the group face..

The group trades with high profile customers who have strong credit ratings in the industry and as such the directors do not believe that the group is significantly adversely exposed in respect of sales made since the year end date.

The directors believe that the group's financial resources will be sufficient to trade for the foreseeable future. The directors will continue to monitor the group's activities and pipeline and act appropriately..

ON BEHALF OF THE BOARD:





P S Roberts - Director


15 April 2025

CFR Investments Limited (Registered number: 07012921)

Report of the Director
For The Year Ended 31 October 2024

The director presents his report with the financial statements of the company and the group for the year ended 31 October 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31 October 2024.

DIRECTOR
P S Roberts held office during the whole of the period from 1 November 2023 to the date of this report.

REPURCHASE OF OWN SHARES
During the year, the company repurchased and cancelled 1 Ordinary B share from its shareholders for £27,800. Please refer to the notes of the financial statements for details of share capital as at 31 October 2024.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Kingscott Dix Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P S Roberts - Director


15 April 2025

Report of the Independent Auditors to the Members of
CFR Investments Limited

Opinion
We have audited the financial statements of CFR Investments Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 October 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
CFR Investments Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
CFR Investments Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In assigning the audit engagement team we ensured that collectively they had the appropriate competence and capabilities to identify non-compliance with laws and regulations, highlight areas of the financial statements particularly susceptible to fraud and conduct appropriate additional enquiries where suspicions or weaknesses became evident.

At the planning stage, we assessed the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur. This involved preliminary planning discussions with management to obtain their assessment of fraud risk, to identify any incidences of fraud during the year and understand the measures and controls they had taken to combat the possibility of fraud.

Our transaction testing and assessment of controls during the audit provided further evidence as to the validity of this initial assessment with regard to material misstatement and fraud.

We identified areas of law and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the Directors, and inspection of the Company's regulatory and legal correspondence. The team were briefed with regard to laws and regulations and remained alert to any indication of non-compliance throughout the audit.

The company is subject to laws and regulations that directly affect the financial statements including legislation covering financial reporting including related companies, distributable profits and taxation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. In assessing this compliance, we evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates in the measurement and presentation of profit within the financial statements.

The company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: The Electricity at Work Regulations 1989, The Building Act 2000, health and safety, safe working practices, provision & use of work equipment regulations, employment laws, GDPR and environmental laws and regulations recognising the nature of the company's activities. Audit procedures designed to identify non-compliance with these laws and regulations included enquiry of the Directors and other management and inspection of regulatory and legal correspondence. None of the procedures applied identified actual or suspected non-compliance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. Where an irregularity is non-financial or has not reached a stage where its impact is financial, it is less likely to be identified by auditing procedures. In addition, to the extent that an irregularity involves collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls, there remains a high risk of non-detection. We are not responsible for detecting all instances of non-compliance with laws and regulations and cannot be expected to do so.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
CFR Investments Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Peter Morgan (Senior Statutory Auditor)
for and on behalf of Kingscott Dix Limited
Chartered Accountants
and Statutory Auditor
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

16 April 2025

CFR Investments Limited (Registered number: 07012921)

Consolidated
Income Statement
For The Year Ended 31 October 2024

31.10.24 31.10.23
Notes £    £   

TURNOVER 3 30,581,454 21,957,507

Cost of sales 24,851,466 17,287,463
GROSS PROFIT 5,729,988 4,670,044

Administrative expenses 4,949,458 3,981,760
780,530 688,284

Other operating income 4 233,785 396,620
OPERATING PROFIT 6 1,014,315 1,084,904

Related party loan written off 7 14,978 (461,121 )
1,029,293 623,783

Amounts written off investments 8 - 88,400
1,029,293 535,383

Interest payable and similar expenses 9 403 -
PROFIT BEFORE TAXATION 1,028,890 535,383

Tax on profit 10 201,089 -
PROFIT FOR THE FINANCIAL YEAR 827,801 535,383
Profit attributable to:
Owners of the parent 827,801 535,383

CFR Investments Limited (Registered number: 07012921)

Consolidated
Other Comprehensive Income
For The Year Ended 31 October 2024

31.10.24 31.10.23
Notes £    £   

PROFIT FOR THE YEAR 827,801 535,383


OTHER COMPREHENSIVE INCOME
Purchase of own shares (27,800 ) -
Income tax relating to other
comprehensive income

-

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

(27,800

)

-
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

800,001

535,383

Total comprehensive income attributable to:
Owners of the parent 800,001 535,383

CFR Investments Limited (Registered number: 07012921)

Consolidated Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 12 271,926 399,895
Investments 13 - -
271,926 399,895

CURRENT ASSETS
Stocks 14 282,145 374,580
Debtors 15 7,701,957 10,685,833
Cash at bank 2,820,609 1,115,109
10,804,711 12,175,522
CREDITORS
Amounts falling due within one year 16 4,961,513 7,280,601
NET CURRENT ASSETS 5,843,198 4,894,921
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,115,124

5,294,816

PROVISIONS FOR LIABILITIES 18 20,307 -
NET ASSETS 6,094,817 5,294,816

CAPITAL AND RESERVES
Called up share capital 19 1 1
Share premium 20 99,999 99,999
Retained earnings 20 5,994,817 5,194,816
SHAREHOLDERS' FUNDS 6,094,817 5,294,816

The financial statements were approved by the director and authorised for issue on 15 April 2025 and were signed by:





P S Roberts - Director


CFR Investments Limited (Registered number: 07012921)

Company Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 12 - -
Investments 13 100 100
100 100

CURRENT ASSETS
Cash at bank 1 1

CREDITORS
Amounts falling due within one year 16 100 100
NET CURRENT LIABILITIES (99 ) (99 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1

1

CAPITAL AND RESERVES
Called up share capital 19 1 1
SHAREHOLDERS' FUNDS 1 1

Company's profit for the financial year 27,800 -

The financial statements were approved by the director and authorised for issue on 15 April 2025 and were signed by:





P S Roberts - Director


CFR Investments Limited (Registered number: 07012921)

Consolidated Statement of Changes in Equity
For The Year Ended 31 October 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 November 2022 1 4,659,433 99,999 4,759,433

Changes in equity
Total comprehensive income - 535,383 - 535,383
Balance at 31 October 2023 1 5,194,816 99,999 5,294,816

Changes in equity
Total comprehensive income - 800,001 - 800,001
Balance at 31 October 2024 1 5,994,817 99,999 6,094,817

CFR Investments Limited (Registered number: 07012921)

Company Statement of Changes in Equity
For The Year Ended 31 October 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 November 2022 1 - 1

Changes in equity
Balance at 31 October 2023 1 - 1

Changes in equity
Balance at 31 October 2024 1 - 1

CFR Investments Limited (Registered number: 07012921)

Consolidated Cash Flow Statement
For The Year Ended 31 October 2024

31.10.24 31.10.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,484,432 (986,980 )
Interest paid (403 ) -
Tax refund 255,122 1,063,455
Net cash from operating activities 1,739,151 76,475

Cash flows from investing activities
Purchase of tangible fixed assets (33,132 ) (313,155 )
Purchase of fixed asset investments - (88,400 )
Sale of tangible fixed assets 27,281 25,705
Net cash from investing activities (5,851 ) (375,850 )

Cash flows from financing activities
Share buyback (27,800 ) -
Net cash from financing activities (27,800 ) -

Increase/(decrease) in cash and cash equivalents 1,705,500 (299,375 )
Cash and cash equivalents at
beginning of year

2

1,115,109

1,414,484

Cash and cash equivalents at end of
year

2

2,820,609

1,115,109

CFR Investments Limited (Registered number: 07012921)

Notes to the Consolidated Cash Flow Statement
For The Year Ended 31 October 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.10.24 31.10.23
£    £   
Profit before taxation 1,028,890 535,383
Depreciation charges 123,171 98,043
Loss/(profit) on disposal of fixed assets 11,661 (25,705 )
Amounts written off investments - 88,400
Government grants (136,132 ) (320,000 )
Finance costs 403 -
1,027,993 376,121
Decrease/(increase) in stocks 92,435 (21,540 )
Decrease/(increase) in trade and other debtors 2,683,092 (4,620,372 )
(Decrease)/increase in trade and other creditors (2,319,088 ) 3,278,811
Cash generated from operations 1,484,432 (986,980 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 October 2024
31.10.24 1.11.23
£    £   
Cash and cash equivalents 2,820,609 1,115,109
Year ended 31 October 2023
31.10.23 1.11.22
£    £   
Cash and cash equivalents 1,115,109 1,414,484


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.11.23 Cash flow At 31.10.24
£    £    £   
Net cash
Cash at bank 1,115,109 1,705,500 2,820,609
1,115,109 1,705,500 2,820,609
Total 1,115,109 1,705,500 2,820,609

CFR Investments Limited (Registered number: 07012921)

Notes to the Consolidated Financial Statements
For The Year Ended 31 October 2024

1. STATUTORY INFORMATION

CFR Investments 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 General Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage to not disclose its individual profit and loss statement under section 408 of the companies act 2006.

Basis of consolidation
The group financial statements have been prepared by consolidating the financial statements of the holding company and its subsidiary undertakings at 31 October 2024. Where necessary, adjustments have been made to the consolidated figures in aligning accounting policies or accounting treatment of items to group policy

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

CFR Investments Limited (Registered number: 07012921)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover comprises the fair value of consideration received or receivable for the sale of goods and proviso of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimate reliably, revenue is recognised only to the extent of the expenses recognised that it is probably will be recovered.

Long term contracts
Amounts recoverable on long term contracts which are in included in debtors are stated at the net sales value of work done less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

Retentions
Retentions are recognised as turnover as part of the revenue receivable on the contract to the extent that the balance is considered recoverable but provision is made again such balances where they are deemed irrecoverable. Where the retention is receivable after more than one year, they are disclosed as such within the notes to the financial statements. Where costs are deemed to be necessary to enable the recovery of the retention, these costs are provided in full.
Rent received
Rent received represents rental income from the sub-let of property rented. The Company recognises such revenue on an accruals basis.

Other management recharges
Management charges payable by related parties are recognised on an accruals basis and represent the recharge at commercial rate of the expenditure incurred in respect of the service received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements- 10% straight line
Plant and equipment- 25% straight line
Computer equipment- 25% straight line
Motor vehicles- 25% straight line

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

CFR Investments Limited (Registered number: 07012921)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

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.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

CFR Investments Limited (Registered number: 07012921)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Other financial assets
Other financial assets are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade, other creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.


CFR Investments Limited (Registered number: 07012921)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

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 year 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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

Leasing commitments
Rentals received under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

31.10.24 31.10.23
£    £   
Rendering of services 30,581,454 21,957,507
30,581,454 21,957,507

CFR Investments Limited (Registered number: 07012921)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 October 2024

4. OTHER OPERATING INCOME
31.10.24 31.10.23
£    £   
Rents received 79,920 76,620
Sundry receipts 17,733 -
Grants receivable 136,132 320,000
233,785 396,620

5. EMPLOYEES AND DIRECTORS
31.10.24 31.10.23
£    £   
Wages and salaries 6,287,183 4,417,071
Social security costs 559,523 449,531
Other pension costs 293,347 247,125
7,140,053 5,113,727

The average number of employees during the year was as follows:
31.10.24 31.10.23

Directors 1 1
Admin and support 85 65
Engineers 71 61
157 127

The average number of employees by undertakings that were proportionately consolidated during the year was 156 (2023 - 126 ) .

31.10.24 31.10.23
£    £   
Director's remuneration 99,795 100,201

Key management personnel of the Group (in aggregate)
31.10.24 31.10.23
£ £

Key management personnel compensation 414,969 426,777


CFR Investments Limited (Registered number: 07012921)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 October 2024

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.10.24 31.10.23
£    £   
Operating lease income (79,920 ) (76,620 )
Depreciation - owned assets 123,170 98,043
Loss/(profit) on disposal of fixed assets 11,661 (25,705 )
Auditors' remuneration 36,690 27,843
Operating leases - Property 183,482 160,983
Operating leases - Other 98,556 96,167
Research and development expenditure - 2,347,872
Grant income in respect of research and development 136,132 320,000

7. EXCEPTIONAL ITEMS
31.10.24 31.10.23
£    £   
Related party loan written off 14,978 (461,121 )

8. AMOUNTS WRITTEN OFF INVESTMENTS
31.10.24 31.10.23
£    £   
Impairment of investment - 88,400

9. INTEREST PAYABLE AND SIMILAR EXPENSES
31.10.24 31.10.23
£    £   
Bank interest 403 -

10. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.10.24 31.10.23
£    £   
Current tax:
UK corporation tax 79,215 -

Deferred tax 121,874 -
Tax on profit 201,089 -

CFR Investments Limited (Registered number: 07012921)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 October 2024

10. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.10.24 31.10.23
£    £   
Profit before tax 1,028,890 535,383
Profit multiplied by the standard rate of corporation tax in the UK of 25
% (2023 - 25 %)

257,223

133,846

Effects of:
Expenses not deductible for tax purposes 1,532 5,897
Income not taxable (34,033 ) (80,000 )
Movement on unprovided deferred tax (21,958 ) (17,876 )
R&D Tax Credit - (63,967 )
Amounts written off investment - 22,100
Restricted proceeds (1,675 ) -
Total tax charge 201,089 -

Tax effects relating to effects of other comprehensive income

31.10.24
Gross Tax Net
£    £    £   
Purchase of own shares (27,800 ) - (27,800 )

11. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


CFR Investments Limited (Registered number: 07012921)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 October 2024

12. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2023 121,640 214,872 -
Additions - - -
Disposals - - -
At 31 October 2024 121,640 214,872 -
DEPRECIATION
At 1 November 2023 103,190 112,225 -
Charge for year 1,978 26,339 1,160
Eliminated on disposal - - -
At 31 October 2024 105,168 138,564 1,160
NET BOOK VALUE
At 31 October 2024 16,472 76,308 (1,160 )
At 31 October 2023 18,450 102,647 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2023 1,087,465 367,372 1,791,349
Additions - 33,132 33,132
Disposals (42,550 ) - (42,550 )
At 31 October 2024 1,044,915 400,504 1,781,931
DEPRECIATION
At 1 November 2023 867,987 308,052 1,391,454
Charge for year 68,510 25,183 123,170
Eliminated on disposal (4,619 ) - (4,619 )
At 31 October 2024 931,878 333,235 1,510,005
NET BOOK VALUE
At 31 October 2024 113,037 67,269 271,926
At 31 October 2023 219,478 59,320 399,895

CFR Investments Limited (Registered number: 07012921)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 October 2024

13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 November 2023
and 31 October 2024 100
NET BOOK VALUE
At 31 October 2024 100
At 31 October 2023 100

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

C F R Group Services Limited
Registered office: England and Wales
Nature of business: Management company
%
Class of shares: holding
Ordinary 100.00

CF Roberts (Electrical Contractors) Limited
Registered office: England and Wales
Nature of business: Electrical contracting
%
Class of shares: holding
Ordinary 100.00

C F Roberts (FM) Limited
Registered office: England and Wales
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Strebor Fire & Security Systems Limited
Registered office: England and Wales
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Marbid Partnership Limited
Registered office: England and Wales
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

CFR Investments Limited (Registered number: 07012921)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 October 2024

13. FIXED ASSET INVESTMENTS - continued

Mirari Support Services Limited
Registered office: England and Wales
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00


14. STOCKS

Group
31.10.24 31.10.23
£    £   
Work-in-progress 282,145 374,580

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
31.10.24 31.10.23
£    £   
Trade debtors 4,599,532 5,772,580
Amounts recoverable on contract 1,186,307 2,269,259
Other debtors 141,337 386,258
Amounts due from related party 1,293,550 1,573,316
Tax 120,786 320,000
Deferred tax asset - 101,570
Prepayments and accrued income 360,445 262,850
7,701,957 10,685,833

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.10.24 31.10.23 31.10.24 31.10.23
£    £    £    £   
Trade creditors 3,031,583 5,001,298 - -
Social security and other taxes 225,932 254,758 - -
Other creditors 135,190 117,811 100 100
Amounts due to related party 225,000 225,000 - -
Accruals and deferred income 1,343,808 1,681,734 - -
4,961,513 7,280,601 100 100

CFR Investments Limited (Registered number: 07012921)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 October 2024

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued











17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
31.10.24 31.10.23
£    £   
Within one year 163,573 140,661
Between one and five years 380,561 510,364
544,134 651,025

18. PROVISIONS FOR LIABILITIES

Group
31.10.24 31.10.23
£    £   
Deferred tax 20,307 -

Group
Deferred
tax
£   
Provided during year 20,307
Balance at 31 October 2024 20,307

CFR Investments Limited (Registered number: 07012921)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 October 2024

19. CALLED UP SHARE CAPITAL


2024 2023
No. £    £   

Ordinary A shares at £0.01 each 80 0.80 0.80
Ordinary B shares at £0.01 each 19 0.19 0.20
0.99 1.00
During the year, 1 Ordinary B share was repurchased by the company for £27,800. The share was subsequently cancelled and no proceeds were received on disposal.

20. RESERVES

Group
Retained Share
earnings premium Totals
£    £    £   

At 1 November 2023 5,194,816 99,999 5,294,815
Profit for the year 827,801 827,801
Purchase of own shares (27,800 ) - (27,800 )
At 31 October 2024 5,994,817 99,999 6,094,816

Company
Retained
earnings
£   

Profit for the year 27,800
Purchase of own shares (27,800 )
At 31 October 2024 -


CFR Investments Limited (Registered number: 07012921)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 October 2024

21. RELATED PARTY DISCLOSURES

Entities over which the company has control, joint control or significant influence:

31.10.24 31.10.23
£ £
Amounts due from related party - 559,235
Related party loan written off (14,978 ) 461,121

Related parties where directors have significant influence
31.10.24 31.10.23
£ £
Amounts due to related party 1,293,550 1,013,992
Amounts due from related party (225,000 ) (225,000 )
Sales 31,039 46,328
Management charges paid 356,059 235,500
Rent paid 183,482 160,982
Rent received 79,920 76,620

No balance was due from a director as at 31 October 2024 or 2023.


22. ULTIMATE CONTROLLING PARTY

The controlling party is P S Roberts.