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Registration number: 02033559

C.G.P. Engineering Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

C.G.P. Engineering Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

C.G.P. Engineering Ltd

Company Information

Director

R. I. Parker

Registered office

Westwood House
78 Loughborough Road
Quorn
Loughborough
LE12 8DX

Accountants

Robert Whowell & Partners LLP
Chartered AccountantsWestwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

 

C.G.P. Engineering Ltd

(Registration number: 02033559)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

515,598

528,921

Current assets

 

Stocks

5

12,500

16,500

Debtors

6

150,542

61,575

Cash at bank and in hand

 

122,585

98,146

 

285,627

176,221

Creditors: Amounts falling due within one year

7

(230,805)

(205,846)

Net current assets/(liabilities)

 

54,822

(29,625)

Total assets less current liabilities

 

570,420

499,296

Creditors: Amounts falling due after more than one year

7

(230,901)

(187,367)

Provisions for liabilities

(122,847)

(98,733)

Net assets

 

216,672

213,196

Capital and reserves

 

Called up share capital

8

10,000

10,000

Retained earnings

206,672

203,196

Shareholders' funds

 

216,672

213,196

 

C.G.P. Engineering Ltd

(Registration number: 02033559)
Balance Sheet as at 31 October 2024

For the financial year ending 31 October 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 on 25 July 2025
 

.........................................
R. I. Parker
Director

 

C.G.P. Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
Westwood House
78 Loughborough Road
Quorn
Loughborough
LE12 8DX

These financial statements were authorised for issue by the director on 25 July 2025.

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 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

 

C.G.P. Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

10% straight line

Fixtures, fittings and equipment

10% - 33.33% straight line

Motor vehicles

20% reducing balance

Plant and machinery

10% 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 debt.

 

C.G.P. Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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 stocks and work in progress 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. 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 the profit and loss account.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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. 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.

 

C.G.P. Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 6 (2023 - 6).

 

C.G.P. Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Leasehold improvements
£

Fixtures, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 November 2023

27,690

49,124

30,189

856,712

963,715

Additions

-

4,675

-

40,894

45,569

At 31 October 2024

27,690

53,799

30,189

897,606

1,009,284

Depreciation

At 1 November 2023

20,194

46,490

15,964

352,146

434,794

Charge for the year

2,766

2,060

3,157

50,909

58,892

At 31 October 2024

22,960

48,550

19,121

403,055

493,686

Carrying amount

At 31 October 2024

4,730

5,249

11,068

494,551

515,598

At 31 October 2023

7,496

2,634

14,225

504,566

528,921

5

Stocks

2024
£

2023
£

Work in progress

8,000

12,000

Finished goods and goods for resale

4,500

4,500

12,500

16,500

 

C.G.P. Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

58,951

49,794

Prepayments

7,852

8,265

Other debtors

83,739

3,516

 

150,542

61,575

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

94,884

80,207

Trade creditors

 

86,558

37,161

Taxation and social security

 

38,569

16,409

Accruals and deferred income

 

4,145

8,722

Other creditors

 

6,649

63,347

 

230,805

205,846


Creditors include net obligations under hire purchase contracts which are secured of £84,884 (2023 - £70,207).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

230,901

187,367


Creditors include net obligations under hire purchase contracts which are secured of £224,234 (2023 - £170,700).

 

C.G.P. Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

10,000

10,000

10,000

10,000

         

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

6,667

16,667

Hire purchase contracts

224,234

170,700

230,901

187,367

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Hire purchase contracts

84,884

70,207

94,884

80,207