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Registered number: 04615140









CNC LAMINATES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
CNC LAMINATES LIMITED
REGISTERED NUMBER: 04615140

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
1

Tangible assets
 5 
-
10,814

Investments
 6 
1,574,605
1,574,605

  
1,574,605
1,585,420

Current assets
  

Stocks
  
-
4,000

Debtors
 7 
-
76,708

Cash at bank and in hand
  
68,535
233,252

  
68,535
313,960

Creditors: amounts falling due within one year
 8 
(11,243)
(1,719,265)

Net current assets/(liabilities)
  
 
 
57,292
 
 
(1,405,305)

Total assets less current liabilities
  
1,631,897
180,115

Creditors: amounts falling due after more than one year
 9 
-
(17,701)

Provisions for liabilities
  

Deferred tax
 11 
-
(2,054)

  
 
 
-
 
 
(2,054)

Net assets
  
1,631,897
160,360


Capital and reserves
  

Called up share capital 
  
120
150

Other reserves
  
30
-

Profit and loss account
  
1,631,747
160,210

  
1,631,897
160,360


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
Page 1

 
CNC LAMINATES LIMITED
REGISTERED NUMBER: 04615140
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024


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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 June 2025.




Tom William Kensell
Director

Page 2

 
CNC LAMINATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

CNC Laminates Limited is a private company limited by shares registered in England and Wales number 04615140. Its registered office address is Colebrook Industrial Estate, Longfield Road, Tunbridge Wells, Kent TN2 3DG. The principal activity is the supply of worktops.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CNC LAMINATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Temporary rent concessions occurring as a direct consequence of the COVID-19 pandemic have been recognised on a systematic basis over the periods that the change in lease payments is intended to compensate. This is conditional on:

the change in lease payments resulting in revised consideration for the lease that is less than the consideration for the lease immediately preceding the change;
any reduction in lease payments affecting only payments originally due on or before 30 June 2022;
there being no significant change to other terms and conditions of the lease.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
CNC LAMINATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
15
years

Page 5

 
CNC LAMINATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
25% straight line on commercial vehicles and 50% straight line for the remainder
Fixtures & fittings
-
25% straight line
Office equipment
-
50% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
CNC LAMINATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 13).


4.


Intangible assets




Goodwill

£





At 1 November 2023
10,000


Disposals
(10,000)



At 31 October 2024

-





At 1 November 2023
9,999


On disposals
(9,999)



At 31 October 2024

-



Net book value



At 31 October 2024
-



At 31 October 2023
1



Page 7

 
CNC LAMINATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Tangible fixed assets





Plant & machinery
Fixtures & fittings
Office equipment
Total

£
£
£
£





At 1 November 2023
325,113
5,361
16,380
346,854


Additions
1,849
-
290
2,139


Disposals
(326,962)
(5,361)
(16,670)
(348,993)



At 31 October 2024

-
-
-
-





At 1 November 2023
317,549
2,618
15,873
336,040


Disposals
(317,549)
(2,618)
(15,873)
(336,040)



At 31 October 2024

-
-
-
-



Net book value



At 31 October 2024
-
-
-
-



At 31 October 2023
7,564
2,743
507
10,814


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2023
1,574,605



At 31 October 2024
1,574,605





7.


Debtors

2024
2023
£
£



Trade debtors
-
69,039

Prepayments and accrued income
-
7,669
Page 8

 
CNC LAMINATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

7.Debtors (continued)


-
76,708



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
24,632

Payments received on account
-
6,150

Trade creditors
-
198,973

Amounts owed to group undertakings
-
1,302,956

Other taxation and social security
11,243
5,436

Obligations under finance lease and hire purchase contracts
-
16,520

Other creditors
-
157,098

Accruals and deferred income
-
7,500

11,243
1,719,265


The following liabilities were secured:

2024
2023
£
£



Finance lease and hire purchase contracts
-
16,520

-
16,520

Details of security provided:

The finance lease and hire purchase liabilities above are secured on plant and commercial vehicles included in note 5 above.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
12,394

Net obligations under finance leases and hire purchase contracts
-
5,307

-
17,701


Page 9

 
CNC LAMINATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
24,632


-
24,632

Amounts falling due 1-2 years

Bank loans
-
12,394


-
12,394



-
37,026



11.


Deferred taxation




2024
2023


£

£






At beginning of year
(2,054)
(7,895)


Charged to profit or loss
2,054
5,841



At end of year
-
(2,054)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
(2,054)

-
(2,054)

Page 10

 
CNC LAMINATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

12.


Reserves

Capital redemption reserve

£30 represents the redemption and purchase of the company's own shares from unappropriated profits.


13.


Pension commitments


14.


Related party transactions

Investment income includes dividends received in the year from the subsidiary company of £1,483,189.

 
Page 11