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COMPANY REGISTRATION NUMBER: 04804695
Ceramtech Limited
Filleted Unaudited Financial Statements
31 July 2024
Ceramtech Limited
Financial Statements
Year ended 31 July 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Ceramtech Limited
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
7
108,346
70,937
Current assets
Stocks
59,473
78,606
Debtors
8
124,965
103,727
Cash at bank and in hand
9,602
3,687
---------
---------
194,040
186,020
Creditors: amounts falling due within one year
9
204,044
184,170
---------
---------
Net current (liabilities)/assets
( 10,004)
1,850
---------
--------
Total assets less current liabilities
98,342
72,787
Creditors: amounts falling due after more than one year
10
71,080
53,708
Provisions
Taxation including deferred tax
26,279
17,499
--------
--------
Net assets
983
1,580
--------
--------
Capital and reserves
Called up share capital
11
100
100
Profit and loss account
883
1,480
----
-------
Shareholders funds
983
1,580
----
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ceramtech Limited
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 29 April 2025 , and are signed on behalf of the board by:
Mr J Duvall
Director
Company registration number: 04804695
Ceramtech Limited
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1-15 Cricketfield Grove, Leigh-On-Sea, Essex, SS9 3EJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
20% straight line
Fixtures and fittings
-
20% straight line
Motor vehicles
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).
5. Tax on profit
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
35,828
36,110
Deferred tax:
Origination and reversal of timing differences
8,781
4,542
--------
--------
Tax on profit
44,609
40,652
--------
--------
6. Intangible assets
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
30,000
--------
Amortisation
At 1 August 2023 and 31 July 2024
30,000
--------
Carrying amount
At 31 July 2024
--------
At 31 July 2023
--------
7. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2023
215,406
340
19,360
235,106
Additions
27,947
48,290
76,237
---------
----
--------
---------
At 31 July 2024
243,353
340
67,650
311,343
---------
----
--------
---------
Depreciation
At 1 August 2023
161,812
340
2,017
164,169
Charge for the year
24,934
13,894
38,828
---------
----
--------
---------
At 31 July 2024
186,746
340
15,911
202,997
---------
----
--------
---------
Carrying amount
At 31 July 2024
56,607
51,739
108,346
---------
----
--------
---------
At 31 July 2023
53,594
17,343
70,937
---------
----
--------
---------
8. Debtors
2024
2023
£
£
Trade debtors
81,461
99,529
Director's loan account
43,504
573
Other debtors
3,625
---------
---------
124,965
103,727
---------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
77,562
76,538
Accruals and deferred income
4,650
8,472
Corporation tax
71,938
64,045
Social security and other taxes
4,680
5,683
Obligations under finance leases and hire purchase contracts
35,214
19,055
Other creditors
377
---------
---------
204,044
184,170
---------
---------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,334
18,333
Obligations under finance leases and hire purchase contracts
62,746
35,375
--------
--------
71,080
53,708
--------
--------
11. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
12. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
15,500
15,500
Later than 1 year and not later than 5 years
15,500
--------
--------
15,500
31,000
--------
--------
13. Director's advances, credits and guarantees
At the year end the directors owed the company £43,504 (2023: £573) which is shown amongst debtors.