16 19 Anglia CNC Engineering Ltd 01124430 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of the light engineers, designers and manufacturers of machine tools. Digita Accounts Production Advanced 6.30.9574.0 true 01124430 2024-01-01 2024-12-31 01124430 2024-12-31 01124430 bus:OrdinaryShareClass1 2024-12-31 01124430 core:CapitalRedemptionReserve 2024-12-31 01124430 core:RetainedEarningsAccumulatedLosses 2024-12-31 01124430 core:ShareCapital 2024-12-31 01124430 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-12-31 01124430 core:CurrentFinancialInstruments 2024-12-31 01124430 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 01124430 core:Non-currentFinancialInstruments 2024-12-31 01124430 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 01124430 core:FurnitureFittingsToolsEquipment 2024-12-31 01124430 core:MotorVehicles 2024-12-31 01124430 core:OtherPropertyPlantEquipment 2024-12-31 01124430 bus:SmallEntities 2024-01-01 2024-12-31 01124430 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 01124430 bus:FilletedAccounts 2024-01-01 2024-12-31 01124430 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 01124430 bus:RegisteredOffice 2024-01-01 2024-12-31 01124430 bus:Director2 2024-01-01 2024-12-31 01124430 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 01124430 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01124430 core:CapitalRedemptionReserve 2024-01-01 2024-12-31 01124430 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 01124430 core:ShareCapital 2024-01-01 2024-12-31 01124430 core:FurnitureFittings 2024-01-01 2024-12-31 01124430 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 01124430 core:MotorVehicles 2024-01-01 2024-12-31 01124430 core:OfficeEquipment 2024-01-01 2024-12-31 01124430 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 01124430 core:PlantMachinery 2024-01-01 2024-12-31 01124430 countries:England 2024-01-01 2024-12-31 01124430 2023-12-31 01124430 core:CapitalRedemptionReserve 2023-12-31 01124430 core:RetainedEarningsAccumulatedLosses 2023-12-31 01124430 core:ShareCapital 2023-12-31 01124430 core:FurnitureFittingsToolsEquipment 2023-12-31 01124430 core:MotorVehicles 2023-12-31 01124430 core:OtherPropertyPlantEquipment 2023-12-31 01124430 2023-01-01 2023-12-31 01124430 2023-12-31 01124430 bus:OrdinaryShareClass1 2023-12-31 01124430 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 01124430 core:CurrentFinancialInstruments 2023-12-31 01124430 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 01124430 core:Non-currentFinancialInstruments 2023-12-31 01124430 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 01124430 core:FurnitureFittingsToolsEquipment 2023-12-31 01124430 core:MotorVehicles 2023-12-31 01124430 core:OtherPropertyPlantEquipment 2023-12-31 01124430 core:CapitalRedemptionReserve 2023-01-01 2023-12-31 01124430 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 01124430 core:ShareCapital 2023-01-01 2023-12-31 01124430 2022-12-31 01124430 core:CapitalRedemptionReserve 2022-12-31 01124430 core:RetainedEarningsAccumulatedLosses 2022-12-31 01124430 core:ShareCapital 2022-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 01124430

Anglia CNC Engineering Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Anglia CNC Engineering Ltd

(Registration number: 01124430)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

465,556

500,255

Current assets

 

Stocks

6

212,987

196,431

Debtors

7

2,515,311

2,402,134

Cash at bank and in hand

 

437,870

593,878

 

3,166,168

3,192,443

Creditors: Amounts falling due within one year

8

(278,427)

(249,656)

Net current assets

 

2,887,741

2,942,787

Total assets less current liabilities

 

3,353,297

3,443,042

Creditors: Amounts falling due after more than one year

8

(104,790)

(165,550)

Provisions for liabilities

(102,422)

(95,048)

Net assets

 

3,146,085

3,182,444

Capital and reserves

 

Called up share capital

9

65

65

Capital redemption reserve

35

35

Retained earnings

3,145,985

3,182,344

Shareholders' funds

 

3,146,085

3,182,444

 

Anglia CNC Engineering Ltd

(Registration number: 01124430)
Balance Sheet as at 31 December 2024

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director for issue on 23 May 2025
 

.........................................

G D Fenn

Director

 

Anglia CNC Engineering Ltd

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 January 2024

65

35

3,182,344

3,182,444

Loss for the year

-

-

(36,359)

(36,359)

At 31 December 2024

65

35

3,145,985

3,146,085

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 January 2023

65

35

3,111,125

3,111,225

Profit for the year

-

-

71,219

71,219

At 31 December 2023

65

35

3,182,344

3,182,444

 

Anglia CNC Engineering Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
20 Burrel Road
St. Ives
Cambridgeshire
PE27 3LE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Anglia CNC Engineering Ltd

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Motor vehicles

25% reducing balance

Fixtures and fittings

15% reducing balance

Office equipment

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Anglia CNC Engineering Ltd

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2023 - 19).

 

Anglia CNC Engineering Ltd

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

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

80,983

83,640

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 January 2024

172,887

7,800

2,005,763

2,186,450

Additions

46,284

-

-

46,284

At 31 December 2024

219,171

7,800

2,005,763

2,232,734

Depreciation

At 1 January 2024

149,226

2,438

1,534,531

1,686,195

Charge for the year

8,958

1,341

70,684

80,983

At 31 December 2024

158,184

3,779

1,605,215

1,767,178

Carrying amount

At 31 December 2024

60,987

4,021

400,548

465,556

At 31 December 2023

23,661

5,362

471,232

500,255

6

Stocks

2024
£

2023
£

Other inventories

212,987

196,431

 

Anglia CNC Engineering Ltd

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

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

429,895

350,872

Amounts owed by related parties

2,062,508

2,029,763

Prepayments

 

22,908

21,499

   

2,515,311

2,402,134

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

60,760

60,760

Trade creditors

 

127,903

122,244

Taxation and social security

 

38,360

26,643

Other creditors

 

51,404

40,009

 

278,427

249,656

Due after one year

 

Loans and borrowings

10

104,790

165,550

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

104,790

165,550

Creditors due after more than 1 year include:
- Bounce Back Loan of £7,500 (2023 - £17,500), which is guaranteed by the Government
- Hire Purchase of £97,290 (2023 - £148,050)

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

65

65

65

65

       
 

Anglia CNC Engineering Ltd

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

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,500

17,500

Hire purchase contracts

97,290

148,050

104,790

165,550

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,000

10,000

HP and finance lease liabilities

50,760

50,760

60,760

60,760

The finance lease liabilities are secured on the assets financed.