16 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 163,676 8,510 172,186 154,346 2,845 157,191 14,995 9,330 xbrli:pure xbrli:shares iso4217:GBP 00465980 2024-01-01 2024-12-31 00465980 2024-12-31 00465980 2023-12-31 00465980 2023-01-01 2023-12-31 00465980 2023-12-31 00465980 2022-12-31 00465980 core:PatentsTrademarksLicencesConcessionsSimilar 2024-01-01 2024-12-31 00465980 core:PlantMachinery 2024-01-01 2024-12-31 00465980 core:FurnitureFittings 2024-01-01 2024-12-31 00465980 bus:Director7 2024-01-01 2024-12-31 00465980 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 00465980 core:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 00465980 core:PlantMachinery 2023-12-31 00465980 core:FurnitureFittings 2023-12-31 00465980 core:PlantMachinery 2024-12-31 00465980 core:FurnitureFittings 2024-12-31 00465980 core:WithinOneYear 2024-12-31 00465980 core:WithinOneYear 2023-12-31 00465980 core:ShareCapital 2024-12-31 00465980 core:ShareCapital 2023-12-31 00465980 core:SharePremium 2024-12-31 00465980 core:SharePremium 2023-12-31 00465980 core:RetainedEarningsAccumulatedLosses 2024-12-31 00465980 core:RetainedEarningsAccumulatedLosses 2023-12-31 00465980 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 00465980 core:PlantMachinery 2023-12-31 00465980 core:FurnitureFittings 2023-12-31 00465980 bus:SmallEntities 2024-01-01 2024-12-31 00465980 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 00465980 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 00465980 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 00465980 bus:FullAccounts 2024-01-01 2024-12-31 00465980 core:ComputerEquipment 2024-01-01 2024-12-31 00465980 core:ComputerEquipment 2023-12-31 00465980 core:ComputerEquipment 2024-12-31
COMPANY REGISTRATION NUMBER: 00465980
Cumberland Electrochemical Ltd
Filleted Unaudited Financial Statements
31 December 2024
Cumberland Electrochemical Ltd
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
14,995
9,330
Tangible assets
6
16,661
22,870
--------
--------
31,656
32,200
Current assets
Stocks
165,721
143,702
Debtors
7
2,685,452
2,369,046
Cash at bank and in hand
667,028
921,201
------------
------------
3,518,201
3,433,949
Creditors: amounts falling due within one year
8
385,375
358,741
------------
------------
Net current assets
3,132,826
3,075,208
------------
------------
Total assets less current liabilities
3,164,482
3,107,408
------------
------------
Net assets
3,164,482
3,107,408
------------
------------
Capital and reserves
Called up share capital
1,111
1,111
Share premium account
5,352,330
5,352,330
Profit and loss account
( 2,188,959)
( 2,246,033)
------------
------------
Shareholders funds
3,164,482
3,107,408
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Cumberland Electrochemical Ltd
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 16 June 2025 , and are signed on behalf of the board by:
Mr S Lakshmanan
Director
Company registration number: 00465980
Cumberland Electrochemical Ltd
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Crossways Business Centre, Bicester Road Kingswood, Aylesbury, Buckinghamshire, HP18 0RA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents, trademarks and licences
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% straight line
Office equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 16 (2023: 21 ).
5. Intangible assets
Patents, trademarks and licences
£
Cost
At 1 January 2024
163,676
Additions
8,510
---------
At 31 December 2024
172,186
---------
Amortisation
At 1 January 2024
154,346
Charge for the year
2,845
---------
At 31 December 2024
157,191
---------
Carrying amount
At 31 December 2024
14,995
---------
At 31 December 2023
9,330
---------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 January 2024
34,630
14,090
178,992
227,712
Additions
1,793
1,793
--------
--------
---------
---------
At 31 December 2024
34,630
14,090
180,785
229,505
--------
--------
---------
---------
Depreciation
At 1 January 2024
34,251
13,813
156,778
204,842
Charge for the year
238
77
7,687
8,002
--------
--------
---------
---------
At 31 December 2024
34,489
13,890
164,465
212,844
--------
--------
---------
---------
Carrying amount
At 31 December 2024
141
200
16,320
16,661
--------
--------
---------
---------
At 31 December 2023
379
277
22,214
22,870
--------
--------
---------
---------
7. Debtors
2024
2023
£
£
Trade debtors
1,575,649
1,497,592
Other debtors
1,109,803
871,454
------------
------------
2,685,452
2,369,046
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
381,647
333,869
Social security and other taxes
21,322
Other creditors
3,728
3,550
---------
---------
385,375
358,741
---------
---------