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REGISTERED NUMBER: 02839676 (England and Wales)















CENTRAL ENGINEERING PRODUCTS LIMITED

Unaudited Financial Statements for the Year Ended 31 August 2024






CENTRAL ENGINEERING PRODUCTS LIMITED (REGISTERED NUMBER: 02839676)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

CENTRAL ENGINEERING PRODUCTS LIMITED

Company Information
for the Year Ended 31 August 2024







DIRECTOR: DJ R Worgan





SECRETARY: DJ R Worgan





REGISTERED OFFICE: Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB





REGISTERED NUMBER: 02839676 (England and Wales)





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

CENTRAL ENGINEERING PRODUCTS LIMITED (REGISTERED NUMBER: 02839676)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 109,762 98,081
109,763 98,082

CURRENT ASSETS
Stocks 6 57,619 32,552
Debtors 7 811,747 783,814
Cash at bank and in hand 29,609 66,633
898,975 882,999
CREDITORS
Amounts falling due within one year 8 172,480 128,805
NET CURRENT ASSETS 726,495 754,194
TOTAL ASSETS LESS CURRENT
LIABILITIES

836,258

852,276

CREDITORS
Amounts falling due after more than one
year

9

(97,419

)

(100,921

)

PROVISIONS FOR LIABILITIES 10 (23,448 ) (24,521 )
NET ASSETS 715,391 726,834

CAPITAL AND RESERVES
Called up share capital 900 900
Retained earnings 714,491 725,934
SHAREHOLDERS' FUNDS 715,391 726,834

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

CENTRAL ENGINEERING PRODUCTS LIMITED (REGISTERED NUMBER: 02839676)

Balance Sheet - continued
31 August 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 15 May 2025 and were signed by:





D J R Worgan - Director


CENTRAL ENGINEERING PRODUCTS LIMITED (REGISTERED NUMBER: 02839676)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

Central Engineering Products 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 from the sale of goods is recognised when the goods are physically delivered to the customer, exclusive of VAT.

Goodwill
Goodwill of a subsidiary was acquired in 2006 with a net book value of 1, this is not being amortised.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 10% on cost
Commercial vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares or 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.

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.

CENTRAL ENGINEERING PRODUCTS LIMITED (REGISTERED NUMBER: 02839676)

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


2. ACCOUNTING POLICIES - continued

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 12 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 25,000
AMORTISATION
At 1 September 2023
and 31 August 2024 24,999
NET BOOK VALUE
At 31 August 2024 1
At 31 August 2023 1

CENTRAL ENGINEERING PRODUCTS LIMITED (REGISTERED NUMBER: 02839676)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Commercial Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 309,341 23,854 49,580 12,591 395,366
Additions - - 42,525 1,333 43,858
At 31 August 2024 309,341 23,854 92,105 13,924 439,224
DEPRECIATION
At 1 September 2023 236,003 20,801 30,509 9,972 297,285
Charge for year 15,989 821 13,273 2,094 32,177
At 31 August 2024 251,992 21,622 43,782 12,066 329,462
NET BOOK VALUE
At 31 August 2024 57,349 2,232 48,323 1,858 109,762
At 31 August 2023 73,338 3,053 19,071 2,619 98,081

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Commercial
vehicles
£   
COST
At 1 September 2023 32,120
Additions 42,525
At 31 August 2024 74,645
DEPRECIATION
At 1 September 2023 15,760
Charge for year 12,595
At 31 August 2024 28,355
NET BOOK VALUE
At 31 August 2024 46,290
At 31 August 2023 16,360

6. STOCKS
31.8.24 31.8.23
£    £   
Stocks 12,384 11,366
Work-in-progress 45,235 21,186
57,619 32,552

CENTRAL ENGINEERING PRODUCTS LIMITED (REGISTERED NUMBER: 02839676)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 126,705 135,817
Amounts owed by group undertakings 673,870 638,555
Other debtors 2,300 1,700
Prepayments 8,872 7,742
811,747 783,814

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 26,602 16,779
Hire purchase contracts 13,097 4,594
Trade creditors 37,047 55,438
Social security and other taxes 36,656 38,812
Other creditors 48,669 839
Directors' current accounts 475 -
Accrued expenses 9,934 12,343
172,480 128,805

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 1-2 years 21,135 18,829
Bank loans 2-5 years 44,172 60,895
Bank loans over 5 years 9,790 14,784
Hire purchase contracts 22,322 6,413
97,419 100,921

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 9,790 14,784

10. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 23,448 24,521

CENTRAL ENGINEERING PRODUCTS LIMITED (REGISTERED NUMBER: 02839676)

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


10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2023 24,521
Credit to Income Statement during year (1,073 )
Movement For Year
Balance at 31 August 2024 23,448

11. RELATED PARTY DISCLOSURES

Worgan Holdings Limited is a related party of Central Engineering Products Limited by virtue of both companies having the same ultimate controlling party, and D J R Worgan being director of both the two companies.

12. ULTIMATE CONTROLLING PARTY

The company is controlled by Worgan Holdings Limited, with the Ultimate Controlling Party being D J R Worgan.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Central Engineering Products Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Central Engineering Products Limited for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Central Engineering Products Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Central Engineering Products Limited and state those matters that we have agreed to state to the director of Central Engineering Products Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Central Engineering Products Limited and its director for our work or for this report.

It is your duty to ensure that Central Engineering Products Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Central Engineering Products Limited. You consider that Central Engineering Products Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Central Engineering Products Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB


15 May 2025