Cable Harnesses (UK) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02559065

Cable Harnesses (UK) Limited

Filleted Unaudited Financial Statements

31 May 2025

Cable Harnesses (UK) Limited

Financial Statements

Year ended 31 May 2025

CONTENTS	PAGE

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Cable Harnesses (UK) Limited

Officers and Professional Advisers

The board of directors	Mr N Gregory
	Mrs J Robb-Gregory

Registered office	Unit 16
	Trostre Industrial Park
	Trostre
	Llanelli
	Carmarthenshire
	SA14 9UU

Accountants	James & Uzzell Ltd
	Chartered Certified Accountants
	Axis 15, Axis Court
	Mallard Way
	Riverside Business Park
	Swansea
	SA7 0AJ

Cable Harnesses (UK) Limited

Statement of Financial Position

31 May 2025

	2025	2024
Note	£	£

FIXED ASSETS

Tangible assets	5	272,795	289,300

CURRENT ASSETS

Stocks	6	75,745	90,086
Debtors	7	472,104	445,303
Cash at bank and in hand		185,760	342,344
		---------	---------
		733,609	877,733

CREDITORS: amounts falling due within one year	8	343,094	387,955
		---------	---------
NET CURRENT ASSETS		390,515	489,778
		---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES		663,310	779,078

PROVISIONS

Taxation including deferred tax	68,037	71,756
	---------	---------
NET ASSETS	595,273	707,322
	---------	---------

CAPITAL AND RESERVES

Called up share capital	9	6,000	6,000
Capital redemption reserve		14,000	14,000
Profit and loss account		575,273	687,322
		---------	---------
SHAREHOLDERS FUNDS		595,273	707,322
		---------	---------

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 comprehensive income has not been delivered.

For the year ending 31 May 2025 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 .

Cable Harnesses (UK) Limited

Statement of Financial Position (continued)

31 May 2025

These financial statements were approved by the board of directors and authorised for issue on 2 October 2025 , and are signed on behalf of the board by:

Neil Gregory

Director

Company registration number: 02559065

Cable Harnesses (UK) Limited

Notes to the Financial Statements

Year ended 31 May 2025

1. GENERAL INFORMATION

Cable Harnesses (UK) Limited is a private company limited by shares incorporated in England & Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities are manufacturing cable assemblies.

2. STATEMENT OF COMPLIANCE

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102)', Section 1A for Small Entities and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The reporting period of these financial statements and its comparative period is 12 months. These financial statements only include the results of the individual entity made up to 31 May 2025. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Going concern

The directors have considered the future trading position of the company and are confident that the going concern principle can be applied to the financial statements.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Judgements and key sources of estimation uncertainty

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of asset and liabilities within the next financial year are addressed below. Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. Stock provision The company sells cables. As a result it is necessary to consider the recoverability of the cost of stock and the associated provisioning required. When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability. Impairment of debtors The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. Provisions Estimates are used in determining the value of provisions when recognised. This will be based on historical information, known expectations and reasonable outcomes. Going Concern The assessment of going concern may include the use of critical judgements in respect of impact of various external factors such as political, economic and social issues. Material uncertainties are considered in this regard.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: Sale of goods Turnover from the manufacturing and sale of cable assemblies and electronic wiring harnesses is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods. Interest receivable Interest income is recognised using the effective interest method.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Leases

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

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:

Property improvements	-	10% per annum of cost
Plant & machinery	-	10% per annum of cost
Fixtures & fittings	-	10%/25% per annum of cost
Motor vehicles	-	20% per annum of cost

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks

Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 25 (2024: 30 ).

5. TANGIBLE ASSETS

	Property improvements	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 June 2024	17,459	503,588	77,735	93,490	692,272
Additions	–	34,823	–	–	34,823
	--------	---------	--------	--------	---------
At 31 May 2025	17,459	538,411	77,735	93,490	727,095
	--------	---------	--------	--------	---------
Depreciation
At 1 June 2024	15,017	302,814	63,679	21,462	402,972
Charge for the year	1,746	32,107	1,876	15,599	51,328
	--------	---------	--------	--------	---------
At 31 May 2025	16,763	334,921	65,555	37,061	454,300
	--------	---------	--------	--------	---------
Carrying amount
At 31 May 2025	696	203,490	12,180	56,429	272,795
	--------	---------	--------	--------	---------
At 31 May 2024	2,442	200,774	14,056	72,028	289,300
	--------	---------	--------	--------	---------

6. STOCKS

	2025	2024
	£	£
Raw materials and consumables	75,745	90,086
	--------	--------

7. DEBTORS

	2025	2024
	£	£
Trade debtors	388,452	402,211
Other debtors	83,652	43,092
	---------	---------
	472,104	445,303
	---------	---------

8. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	164,699	177,384
Corporation tax	40,366	62,059
Social security and other taxes	79,715	85,396
Other creditors	58,314	63,116
	---------	---------
	343,094	387,955
	---------	---------

9. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	5,997	5,997	5,997	5,997
Ordinary A shares of £ 1 each	1	1	1	1
Ordinary B shares of £ 1 each	1	1	1	1
Ordinary C shares of £ 1 each	1	1	1	1
	------	------	------	------
	6,000	6,000	6,000	6,000
	------	------	------	------

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £7,121 (2024 - £16,615).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The amount owed by the directors at the year end is £5,525 (2024 : £34,654 DR) No interest has been incurred in relation to this balance.