Comex Import & Export Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01643947 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Comex Import & Export Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Ghelani

A K Ghelani

R Ghelani

H Ghelani

REGISTERED OFFICE:

Unit 11

Landmark Commercial Centre

19 Commercial Road

Edmonton

London

N18 1UB

REGISTERED NUMBER:

01643947 (England and Wales)

ACCOUNTANTS:

Cartwrights

Chartered Accountants and Business Advisors

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

FIXED ASSETS

Property, plant and equipment

3

44,056

47,613

Investment property

4

316,240

360,296

363,853

CURRENT ASSETS

Inventories

2,139,677

2,444,628

Debtors

5

42,018

69,563

Prepayments and accrued income

1,945

2,108

Cash at bank

231,816

40,963

2,415,456

2,557,262

CREDITORS

Amounts falling due within one year

6

1,276,681

1,400,423

NET CURRENT ASSETS

1,138,775

1,156,839

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,499,071

1,520,692

CREDITORS

Amounts falling due after more than one
year

7

1,083,580

1,088,908

NET ASSETS

415,491

431,784

CAPITAL AND RESERVES

Called up share capital

8

2

Retained earnings

9

415,489

431,782

SHAREHOLDERS' FUNDS

415,491

431,784

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

A Ghelani - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% reducing balance method

Fixtures and fittings

-

15% reducing balance method

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

3.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

COST

At 1 January 2024

and 31 December 2024

98,248

16,397

23,377

138,022

DEPRECIATION

At 1 January 2024

57,978

15,437

16,994

90,409

Charge for year

2,456

144

957

3,557

At 31 December 2024

60,434

15,581

17,951

93,966

NET BOOK VALUE

At 31 December 2024

37,814

816

5,426

44,056

At 31 December 2023

40,270

960

6,383

47,613

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

316,240

NET BOOK VALUE

At 31 December 2024

316,240

At 31 December 2023

316,240

5.

DEBTORS

31/12/24

31/12/23

£

Amounts falling due within one year:

Trade debtors

19,878

41,987

VAT

20,640

26,076

40,518

68,063

Amounts falling due after more than one year:

Other debtors

1,500

Aggregate amounts

42,018

69,563

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

Trade creditors

168,871

264,012

Tax

1,704

1,472

Other creditors

951,695

977,266

Directors' current accounts

150,511

153,773

Accruals and deferred income

3,900

1,276,681

1,400,423

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31/12/24

31/12/23

£

Bank loans - 2-5 years

32,332

37,660

Other loans

1,051,248

1,083,580

1,088,908

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

100

Ordinary

£1

2

9.

RESERVES

Retained

earnings

£

At 1 January 2024

431,782

Profit for the year

3,707

Dividends

(20,000

)

At 31 December 2024

415,489

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £20,000 (2023 - £20,000) were paid to the directors .

At the year end, the company owed the following amounts to the directors of the company:-

Included in creditors due within one year:

A Ghelani

£75,256

A K Ghelani

£75,256

Included in creditors due after more than one year:

A Ghelani

£69,784

A K Ghelani

£69,784

11.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.