Company registration number 01526463 (England and Wales)
C.N.C. PUNCHING LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
C.N.C. PUNCHING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
C.N.C. PUNCHING LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
62,029
82,389
Current assets
Stocks
17,850
18,750
Debtors
4
195,337
250,399
Cash at bank and in hand
73,832
42,795
287,019
311,944
Creditors: amounts falling due within one year
5
(388,831)
(376,996)
Net current liabilities
(101,812)
(65,052)
Total assets less current liabilities
(39,783)
17,337
Capital and reserves
Called up share capital
6
134
134
Profit and loss reserves
(39,917)
17,203
Total equity
(39,783)
17,337

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 29 May 2025
Mr RE Wallington
Director
Company Registration No. 01526463
C.N.C. PUNCHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information

C.N.C. Punching Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Walk Building, 110 Regent Road, Leicester, LE1 7LT.

1.1
Basis of preparation

These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Going concern

The company meets its day to day working capital requirements through support from directors. The directors have confirmed their intention to continue to provide sufficient financial support as required. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the financial support by the directors.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and machinery
10% per annum of net book value
Fixtures, fittings & equipment
15% per annum of net book value and 33.3% per annum of net book value
Motor vehicles
25% per annum of net book value
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

1.6
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

C.N.C. PUNCHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
14
14
C.N.C. PUNCHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023
499,655
Additions
7,168
Disposals
(216,000)
At 31 August 2024
290,823
Depreciation and impairment
At 1 September 2023
417,266
Depreciation charged in the year
7,472
Eliminated in respect of disposals
(195,944)
At 31 August 2024
228,794
Carrying amount
At 31 August 2024
62,029
At 31 August 2023
82,389
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
177,641
236,336
Corporation tax recoverable
392
392
Other debtors
1,615
-
0
Prepayments and accrued income
15,689
13,671
195,337
250,399
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other borrowings
141,612
141,612
Trade creditors
109,421
93,617
Taxation and social security
34,661
35,652
Other creditors
68,629
68,642
Accruals and deferred income
34,508
37,473
388,831
376,996

Company borrowings of £141,612 (2023 - £141,612) are secured by a floating charge over company assets and undertaking.

C.N.C. PUNCHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' Shares of £1 each
99
99
99
99
Ordinary 'B' Shares of £1 each
10
10
10
10
Ordinary 'C' Shares of £1 each
25
25
25
25
134
134
134
134
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
50,012
62,873
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