Company Registration No. 07662221 (England and Wales)
Cwm Engineering Ltd
Unaudited accounts
for the year ended 30 August 2024
Cwm Engineering Ltd
Statement of financial position
as at 30 August 2024
Tangible assets
480,785
544,814
Cash at bank and in hand
481,438
354,192
Creditors: amounts falling due within one year
(297,391)
(198,873)
Net current assets
321,834
365,947
Total assets less current liabilities
802,619
910,761
Creditors: amounts falling due after more than one year
(56,491)
(106,234)
Net assets
746,128
804,527
Called up share capital
2
2
Profit and loss account
746,126
804,525
Shareholders' funds
746,128
804,527
For the year ending 30 August 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 10 March 2025 and were signed on its behalf by
Mrs B M Walters
Director
Company Registration No. 07662221
Cwm Engineering Ltd
Notes to the Accounts
for the year ended 30 August 2024
Cwm Engineering Ltd is a private company, limited by shares, registered in England and Wales, registration number 07662221. The registered office is Y Wern, Kidwelly, Carmarthenshire, SA17 5AP.
2
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
15% reducing balance
Computer equipment
25% reducing balance
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.
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.
Cwm Engineering Ltd
Notes to the Accounts
for the year ended 30 August 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 31 August 2023
1,130,124
31,940
1,162,064
Additions
18,957
882
19,839
At 30 August 2024
1,149,081
32,822
1,181,903
At 31 August 2023
596,378
20,872
617,250
Charge for the year
80,880
2,988
83,868
At 30 August 2024
677,258
23,860
701,118
At 30 August 2024
471,823
8,962
480,785
At 30 August 2023
533,746
11,068
544,814
Amounts falling due within one year
Trade debtors
134,287
168,228
Accrued income and prepayments
-
38,900
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
242
240
Obligations under finance leases and hire purchase contracts
59,761
60,742
Trade creditors
38,857
32,404
Taxes and social security
31,059
25,487
Other creditors
160,000
80,000
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
53,034
102,780
Loans from directors
3,457
3,454
8
Average number of employees
During the year the average number of employees was 13 (2023: 13).