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COMPANY REGISTRATION NUMBER: 02645090
Celltex Limited
Filleted Unaudited Financial Statements
30 September 2024
Celltex Limited
Financial Statements
Year Ended 30th September 2024
Contents
Page
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements
1
Statement of Financial Position
2
Notes to the Financial Statements
4
Celltex Limited
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Celltex Limited
Year Ended 30th September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Celltex Limited for the year ended 30th September 2024, which comprise the statement of financial position 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of Celltex Limited, as a body, in accordance with the terms of our engagement letter dated 7th September 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Celltex Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Celltex Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Celltex 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 Celltex Limited. You consider that Celltex 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 Celltex 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.
MJ GREEN ACCOUNTANCY SERVICES LTD Chartered Certified Accountants
Unit 10 Silver End Business Park Brettell Lane Brierley Hill West Midlands DY5 3LG
7 April 2025
Celltex Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
Fixed Assets
Tangible assets
5
68,506
41,870
Current Assets
Stocks
26,738
25,240
Debtors
6
1,134,017
1,203,596
Cash at bank and in hand
25,736
11,824
------------
------------
1,186,491
1,240,660
Creditors: amounts falling due within one year
7
719,018
886,048
------------
------------
Net Current Assets
467,473
354,612
---------
---------
Total Assets Less Current Liabilities
535,979
396,482
Creditors: amounts falling due after more than one year
8
120,215
20,551
Provisions
Taxation including deferred tax
1,567
---------
---------
Net Assets
414,197
375,931
---------
---------
Capital and Reserves
Called up share capital
37
37
Share premium account
95,994
95,994
Capital redemption reserve
69
69
Profit and loss account
318,097
279,831
---------
---------
Shareholders Funds
414,197
375,931
---------
---------
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 30th September 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 .
Celltex Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 7 April 2025 , and are signed on behalf of the board by:
A N Foggin
S P Evans
Director
Director
A Dalziel
Director
Company registration number: 02645090
Celltex Limited
Notes to the Financial Statements
Year Ended 30th September 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 Unit 12, Block 3, Wednesbury Trading Estate, Wednesbury, West Midlands, WS10 7JN.
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.
Taxation
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Short leasehold property
-
4% straight line
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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 11 (2023: 10 ).
5. Tangible Assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1st October 2023
37,495
41,455
82,789
30,735
192,474
Additions
206
42,400
42,606
--------
--------
--------
--------
---------
At 30th September 2024
37,495
41,455
82,995
73,135
235,080
--------
--------
--------
--------
---------
Depreciation
At 1st October 2023
14,408
38,841
75,534
21,821
150,604
Charge for the year
1,500
523
1,118
12,829
15,970
--------
--------
--------
--------
---------
At 30th September 2024
15,908
39,364
76,652
34,650
166,574
--------
--------
--------
--------
---------
Carrying amount
At 30th September 2024
21,587
2,091
6,343
38,485
68,506
--------
--------
--------
--------
---------
At 30th September 2023
23,087
2,614
7,255
8,914
41,870
--------
--------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
312,372
378,211
Amounts owed by group undertakings and undertakings in which the company has a participating interest
809,000
809,000
Other debtors
12,645
16,385
------------
------------
1,134,017
1,203,596
------------
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
82,457
97,580
Trade creditors
224,497
274,021
Corporation tax
67,087
56,553
Social security and other taxes
48,087
89,432
Other creditors
296,890
368,462
---------
---------
719,018
886,048
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
94,047
20,551
Other creditors
26,168
---------
--------
120,215
20,551
---------
--------
9. Deferred Tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions
1,567
-------
----
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
1,567
-------
----
10. Operating Leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
4,660
1,176
Later than 1 year and not later than 5 years
60,904
13,968
Later than 5 years
31,244
--------
--------
65,564
46,388
--------
--------
11. Directors' Advances, Credits and Guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
A N Foggin
( 1,151)
( 41,000)
41,518
( 633)
S P Evans
( 905)
( 42,000)
42,052
( 853)
A Dalziel
( 7,000)
7,000
-------
--------
--------
-------
( 2,056)
( 90,000)
90,570
( 1,486)
-------
--------
--------
-------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
A N Foggin
( 13,766)
( 26,790)
39,405
( 1,151)
S P Evans
( 29,732)
( 31,020)
59,847
( 905)
A Dalziel
( 434)
( 66)
500
--------
--------
--------
-------
( 43,932)
( 57,876)
99,752
( 2,056)
--------
--------
--------
-------
The credits to the directors were made on an interest free basis and are repayable on demand.