Company registration number 02798799 (England and Wales)
CSD SEALING SYSTEMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CSD SEALING SYSTEMS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
CSD SEALING SYSTEMS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
106,021
66,238
Investments
4
100
100
106,121
66,338
Current assets
Stocks
6
392,482
383,314
Debtors
7
3,671,786
3,747,864
Cash at bank and in hand
1,183,267
988,998
5,247,535
5,120,176
Creditors: amounts falling due within one year
8
(651,608)
(669,941)
Net current assets
4,595,927
4,450,235
Total assets less current liabilities
4,702,048
4,516,573
Creditors: amounts falling due after more than one year
9
(63,191)
(35,854)
Provisions for liabilities
(13,638)
(11,707)
Net assets
4,625,219
4,469,012
Capital and reserves
Called up share capital
1,000
1,000
Share premium account
86,500
86,500
Profit and loss reserves
4,537,719
4,381,512
Total equity
4,625,219
4,469,012

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

CSD SEALING SYSTEMS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 31 July 2025
D Ripley
Director
Company Registration No. 02798799
CSD SEALING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

CSD Sealing Systems Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Azets, Bulman House, Regent Centre, Gosforth, Newcastle upon Tyne, England, NE3 3LS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% straight line
Fixtures and fittings
10% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

CSD SEALING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost 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.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CSD SEALING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
17
17
CSD SEALING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
124,072
110,600
136,293
370,965
Additions
7,403
-
0
99,209
106,612
Disposals
-
0
-
0
(99,193)
(99,193)
At 31 December 2024
131,475
110,600
136,309
378,384
Depreciation and impairment
At 1 January 2024
117,291
99,039
88,397
304,727
Depreciation charged in the year
4,410
2,562
14,523
21,495
Eliminated in respect of disposals
-
0
-
0
(53,859)
(53,859)
At 31 December 2024
121,701
101,601
49,061
272,363
Carrying amount
At 31 December 2024
9,774
8,999
87,248
106,021
At 31 December 2023
6,781
11,561
47,896
66,238
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
5
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
CSD Technical Services Limited
Bulman House, Regent Centre, Gosforth, Tyne and Wear, NE3 3LS, United Kingdom
Ordinary
100.00
6
Stocks
2024
2023
£
£
Stocks
392,482
383,314
CSD SEALING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
386,832
547,898
Amounts owed by group undertakings
1,541,970
1,044,194
Other debtors
1,612,612
2,018,439
Prepayments and accrued income
130,372
137,333
3,671,786
3,747,864

£56,000 (2023 - £49,596) of other debtors is classified as non current.

8
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
12,476
14,241
Trade creditors
211,668
279,992
Corporation tax
93,452
55,653
Other taxation and social security
158,231
251,828
Other creditors
12,890
7,223
Accruals and deferred income
162,891
61,004
651,608
669,941

Creditors due within one year include net obligations under finance lease and hire purchase contracts which are secured of £12,476 (202 3 - £14,241). These are secured on the assets to which they relate.

9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Obligations under finance leases
63,191
35,854

Creditors due after more than one year include net obligations under finance lease and hire purchase contracts which are secured of £63,191 (202 3 - £35,854). These are secured on the assets to which they relate.

10
Operating lease commitments
Lessee

The total amount of financial commitments not included in the statement of financial position is £188,110 (202 3 - £328.871).

Included in the statement of financial position are financial commitments of £75,667 (202 3 - 50,095).

CSD SEALING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
11
Related party transactions

The company undertook transactions with its wholly owned subsidiary, CSD Technical Services

Limited during the year. The company has taken the advantage of the exemption available under FRS 102 from disclosure of these transactions.

During the year the company undertook transact ions with Ripley Co Ltd and Citation Jet Ltd. At the year end there was a debtor balance of £566,511 (202 3 - £563,591) and £1,120,676 (2023: £922,000) respectively.

During the year the company has rented properties from the director's pension scheme for

£30,000 (202 3 - £30,000). At the year end the amount outstanding included within creditors was £Nil (202 3 - £Nil).

12
Directors' transactions
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
D Ripley -
-
44,178
(13,921)
30,257
44,178
(13,921)
30,257
13
Parent company

The company's immediate parent is Industrial Business Group Limited, incorporated in England and Wales.

The ultimate controlling party is D E Ripley.

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