CNC Support Limited 03410961 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is the provision of technical support and servicing of CNC controlled machinery. Digita Accounts Production Advanced 6.30.9574.0 true true 03410961 2023-09-01 2024-08-31 03410961 2024-08-31 03410961 core:RetainedEarningsAccumulatedLosses 2024-08-31 03410961 core:ShareCapital 2024-08-31 03410961 core:CurrentFinancialInstruments 2024-08-31 03410961 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 03410961 core:FurnitureFittingsToolsEquipment 2024-08-31 03410961 core:LandBuildings 2024-08-31 03410961 core:MotorVehicles 2024-08-31 03410961 1 2024-08-31 03410961 bus:SmallEntities 2023-09-01 2024-08-31 03410961 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 03410961 bus:FilletedAccounts 2023-09-01 2024-08-31 03410961 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 03410961 bus:RegisteredOffice 2023-09-01 2024-08-31 03410961 bus:CompanySecretary1 2023-09-01 2024-08-31 03410961 bus:Director1 2023-09-01 2024-08-31 03410961 bus:Director3 2023-09-01 2024-08-31 03410961 bus:Director4 2023-09-01 2024-08-31 03410961 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 03410961 bus:Agent1 2023-09-01 2024-08-31 03410961 core:Buildings 2023-09-01 2024-08-31 03410961 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 03410961 core:LandBuildings 2023-09-01 2024-08-31 03410961 core:MotorVehicles 2023-09-01 2024-08-31 03410961 core:ToolsEquipment 2023-09-01 2024-08-31 03410961 countries:EnglandWales 2023-09-01 2024-08-31 03410961 1 2023-09-01 2024-08-31 03410961 2023-08-31 03410961 core:FurnitureFittingsToolsEquipment 2023-08-31 03410961 core:LandBuildings 2023-08-31 03410961 core:MotorVehicles 2023-08-31 03410961 1 2023-08-31 03410961 2022-09-01 2023-08-31 03410961 2023-08-31 03410961 core:RetainedEarningsAccumulatedLosses 2023-08-31 03410961 core:ShareCapital 2023-08-31 03410961 core:CurrentFinancialInstruments 2023-08-31 03410961 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 03410961 core:FurnitureFittingsToolsEquipment 2023-08-31 03410961 core:LandBuildings 2023-08-31 03410961 core:MotorVehicles 2023-08-31 03410961 1 2023-08-31 03410961 1 2022-09-01 2023-08-31 03410961 1 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 03410961

CNC Support Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

CNC Support Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

CNC Support Limited

Company Information

Directors

Mr R Banks

Mrs M Banks

Mr M R Banks

Company secretary

Mr B Mason

Registered office

3 Spring Gardens Mill Business Park
Spring Gardens Road
Colne
Lancashire
BB8 8FP

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
CNC Support Limited
for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CNC Support Limited for the year ended 31 August 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of CNC Support Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of CNC Support Limited and state those matters that we have agreed to state to the Board of Directors of CNC Support Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CNC Support Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that CNC Support Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of CNC Support Limited. You consider that CNC Support Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of CNC Support Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

17 April 2025

 

CNC Support Limited

(Registration number: 03410961)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,524,260

97,153

Current assets

 

Stocks

5

264,722

300,732

Debtors

6

181,330

583,185

Cash at bank and in hand

 

747,695

1,502,458

 

1,193,747

2,386,375

Creditors: Amounts falling due within one year

7

(314,596)

(536,878)

Net current assets

 

879,151

1,849,497

Total assets less current liabilities

 

2,403,411

1,946,650

Provisions for liabilities

(76,232)

(22,054)

Net assets

 

2,327,179

1,924,596

Capital and reserves

 

Called up share capital

100

100

Retained earnings

2,327,079

1,924,496

Shareholders' funds

 

2,327,179

1,924,596

 

CNC Support Limited

(Registration number: 03410961)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 April 2025 and signed on its behalf by:
 

.........................................
Mr R Banks
Director

 

CNC Support Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
3 Spring Gardens Mill Business Park
Spring Gardens Road
Colne
Lancashire
BB8 8FP

These financial statements were authorised for issue by the Board on 17 April 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

 

CNC Support Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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

Motor vehicles

25% straight line

Equipment

25% straight line

Buildings

2% straight line

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors 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.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

CNC Support Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 12 (2023 - 12).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

-

58,261

224,716

282,977

Additions

1,221,628

277,932

-

1,499,560

Disposals

-

-

(59,544)

(59,544)

At 31 August 2024

1,221,628

336,193

165,172

1,722,993

Depreciation

At 1 September 2023

-

53,742

132,082

185,824

Charge for the year

24,433

9,192

38,828

72,453

Eliminated on disposal

-

-

(59,544)

(59,544)

At 31 August 2024

24,433

62,934

111,366

198,733

Carrying amount

At 31 August 2024

1,197,195

273,259

53,806

1,524,260

At 31 August 2023

-

4,519

92,634

97,153

Included within the net book value of land and buildings above is £1,197,195 (2023 - £Nil) in respect of freehold land and buildings.
 

 

CNC Support Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

187,022

229,467

Other inventories

77,700

71,265

264,722

300,732

6

Debtors

2024
£

2023
£

Trade debtors

127,745

134,440

Prepayments

11,553

15,260

Other debtors

42,032

433,485

181,330

583,185

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

72,523

66,648

Taxation and social security

161,214

148,206

Accruals and deferred income

79,250

320,466

Other creditors

1,609

1,558

314,596

536,878

 

CNC Support Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Related party transactions

Transactions with directors

2024

At 1 September 2023
£

Advances to director
£

Repayments by director
£

At 31 August 2024
£

Unsecured borrowings, repayable on demand and interest charged at official rate

433,061

57,039

(448,392)

41,708

 

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

Unsecured borrowings, repayable on demand and interest charged at official rate

200,279

616,230

(383,448)

433,061