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REGISTERED NUMBER: 05457578 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31st July 2024

for

Custom Tape Limited

Custom Tape Limited (Registered number: 05457578)






Contents of the Financial Statements
for the Year Ended 31st July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Custom Tape Limited

Company Information
for the Year Ended 31st July 2024







DIRECTOR: Mr A L Abram





SECRETARY: Mrs H Abram





REGISTERED OFFICE: The Mill
Centurian Industrial Estate
Centurian Way, Farington
Leyland
Lancashire
PR25 4GU





REGISTERED NUMBER: 05457578 (England and Wales)





ACCOUNTANTS: Stephen Andrews & Co Limited
186 Eaves Lane
Chorley
Lancashire
PR6 0AU

Custom Tape Limited (Registered number: 05457578)

Balance Sheet
31st July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 5,000 5,000
Tangible assets 5 427,156 413,631
432,156 418,631

CURRENT ASSETS
Stocks 115,214 82,567
Debtors 6 2,910,033 2,127,697
Cash at bank 775,527 1,061,087
3,800,774 3,271,351
CREDITORS
Amounts falling due within one year 7 505,081 483,975
NET CURRENT ASSETS 3,295,693 2,787,376
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,727,849

3,206,007

CREDITORS
Amounts falling due after more than one year 8 44,312 55,261
NET ASSETS 3,683,537 3,150,746

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 3,683,437 3,150,646
SHAREHOLDERS' FUNDS 3,683,537 3,150,746

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Custom Tape Limited (Registered number: 05457578)

Balance Sheet - continued
31st July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10th December 2024 and were signed by:





Mr A L Abram - Director


Custom Tape Limited (Registered number: 05457578)

Notes to the Financial Statements
for the Year Ended 31st July 2024

1. STATUTORY INFORMATION

Custom Tape 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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website & Domain are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Custom Tape Limited (Registered number: 05457578)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

2. ACCOUNTING POLICIES - continued

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st August 2023
and 31st July 2024 5,000
NET BOOK VALUE
At 31st July 2024 5,000
At 31st July 2023 5,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st August 2023 337,929 148,467 486,396
Additions - 20,100 20,100
Disposals - (8,600 ) (8,600 )
At 31st July 2024 337,929 159,967 497,896
DEPRECIATION
At 1st August 2023 - 72,765 72,765
Charge for year - 6,575 6,575
Eliminated on disposal - (8,600 ) (8,600 )
At 31st July 2024 - 70,740 70,740
NET BOOK VALUE
At 31st July 2024 337,929 89,227 427,156
At 31st July 2023 337,929 75,702 413,631

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 293,289 278,241
Other debtors 2,616,744 1,849,456
2,910,033 2,127,697

Custom Tape Limited (Registered number: 05457578)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 11,620 12,000
Trade creditors 92,978 127,085
Taxation and social security 386,030 331,434
Other creditors 14,453 13,456
505,081 483,975

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 44,312 55,261

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 7,261

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

Included in other debtors is a loan balance of £2,355,934 (2023 £1,593,562) to Abram Property Limited a company under common control.

Included in other debtors is a loan balance of £17,775 (2023 £17,775) to Willowbrooke Residential Home Limited a company under common control.