Registered number
04550297
Cablegold Limited
Filleted Accounts
31 October 2024
Cablegold Limited
Registered number: 04550297
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 21,279 30,353
Current assets
Debtors 4 28,567 75,419
Cash at bank and in hand 438,815 448,161
467,382 523,580
Creditors: amounts falling due within one year 5 (203,825) (296,611)
Net current assets 263,557 226,969
Net assets 284,836 257,322
Capital and reserves
Called up share capital 2 2
Profit and loss account 284,834 257,320
Shareholders' funds 284,836 257,322
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N. Gaul, Esq
Director
Approved by the board on 20 March 2025
Cablegold Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and from the associated sale of goods and is recognised by reference to the stage of completion of the contract, which is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Office equipment over 4 years
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 1,803 90,819 92,622
Disposals - (10,845) (10,845)
At 31 October 2024 1,803 79,974 81,777
Depreciation
At 1 November 2023 1,350 60,919 62,269
Charge for the year 151 6,993 7,144
On disposals - (8,915) (8,915)
At 31 October 2024 1,501 58,997 60,498
Net book value
At 31 October 2024 302 20,977 21,279
At 31 October 2023 453 29,900 30,353
4 Debtors 2024 2023
£ £
Trade debtors 6,793 49,807
Other debtors 21,774 25,612
28,567 75,419
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 17,500 27,500
Trade creditors 6,032 23,610
Taxation and social security costs 38,959 100,964
Other creditors 141,334 144,537
203,825 296,611
Included in Other creditors are £117,106 (2023: £129,927) of loans owing to the directors. The loans are interest-free and there is no fixed date of repayment. The directors have confirmed that the loans will only be repaid as and when cash flow permits.
6 Controlling party
The company is controlled by the directors who equally own the entire share capital of the company.
7 Other information
Cablegold Limited is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
HA7 1JS
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