Company Registration No. 05126855 (England and Wales)
Contechs Trimming Limited
Unaudited accounts
for the year ended 31 December 2024
Contechs Trimming Limited
Unaudited accounts
Contents
Contechs Trimming Limited
Statement of financial position
as at 31 December 2024
Tangible assets
481,631
602,057
Inventories
86,377
419,081
Cash at bank and in hand
30,989
43,963
Creditors: amounts falling due within one year
(101,877)
(7,006,260)
Net current assets/(liabilities)
194,643
(5,627,626)
Net assets/(liabilities)
676,274
(5,025,569)
Called up share capital
1,000
1,000
Profit and loss account
675,274
(5,026,569)
Shareholders' funds
676,274
(5,025,569)
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by
Mr I K Brookes
Director
Company Registration No. 05126855
Contechs Trimming Limited
Notes to the Accounts
for the year ended 31 December 2024
Contechs Trimming Limited is a private company, limited by shares, registered in England and Wales, registration number 05126855. The registered office is Unit 4 Budbrooke Road Ind Estate, Budbrooke Road, Warwick, CV34 5XH, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
at varying rates on cost
Fixtures & fittings
at varying rates on cost
Computer equipment
at varying rates on cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Contechs Trimming Limited
Notes to the Accounts
for the year ended 31 December 2024
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The company ceased trading in August 2024. The business within the company was transitioned to a third party company. Since this date the directors have been closing any outstanding accounts and selling any remaining assets.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 January 2024
416,007
221,400
-
4,784
16,756
658,947
Additions
-
511
7,500
992
748
9,751
Disposals
-
(49,558)
-
-
(17,504)
(67,062)
At 31 December 2024
416,007
172,353
7,500
5,776
-
601,636
At 1 January 2024
-
52,056
-
1,476
3,358
56,890
Charge for the year
41,601
49,924
750
1,320
5,145
98,740
On disposals
-
(27,122)
-
-
(8,503)
(35,625)
At 31 December 2024
41,601
74,858
750
2,796
-
120,005
At 31 December 2024
374,406
97,495
6,750
2,980
-
481,631
At 31 December 2023
416,007
169,344
-
3,308
13,398
602,057
Amounts falling due within one year
Trade debtors
43,605
553,686
Accrued income and prepayments
17,020
304,187
Contechs Trimming Limited
Notes to the Accounts
for the year ended 31 December 2024
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
59,827
354,906
Amounts owed to group undertakings and other participating interests
39,284
6,275,546
Taxes and social security
-
11,283
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
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Transactions with related parties
On 15 February 2024, there was a change in ownership of Contechs Trimming Ltd. The company prior to this date was owned by Contechs Holdings Ltd. After this date the company was wholly owned by Contechs Trimming Holdings Ltd. The ultimate beneficial owners remain the same.
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Average number of employees
During the year the average number of employees was 18 (2023: 18).