CGS (Haverhill) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05600287 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

FOR

CGS (HAVERHILL) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Simpkin

Mrs G Simpkin

REGISTERED OFFICE:

5 Boundary Road

Haverhill

Suffolk

CB9 7YH

REGISTERED NUMBER:

05600287 (England and Wales)

ACCOUNTANTS:

Seago and Stopps

Chartered Certified Accountants

61 Station Road

Sudbury

Suffolk

CO10 2SP

FIXED ASSETS

27,338

Tangible assets

4

30,098

CURRENT ASSETS

91,380

Stocks

72,574

15,140

Debtors

5

21,317

14,663

Cash at bank

69,843

121,183

163,734

CREDITORS

50,940

Amounts falling due within one year

6

49,684

70,243

NET CURRENT ASSETS

114,050

97,581

TOTAL ASSETS LESS CURRENT LIABILITIES

144,148

CREDITORS

(2,709

)

Amounts falling due after more than one year

7

(41,312

)

(5,194

)

PROVISIONS FOR LIABILITIES

(5,719

)

89,678

NET ASSETS

97,117

CAPITAL AND RESERVES

5

Called up share capital

5

89,673

Retained earnings

97,112

89,678

SHAREHOLDERS' FUNDS

97,117

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 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 7 February 2022 and were signed on its behalf by:

C Simpkin - Director

1.	STATUTORY INFORMATION

CGS (Haverhill) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	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

Turnover represents the value of work completed during the year, by reference to invoiced sales and the movement between opening and closing trade debtor balances.

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

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Government grants

Government grants (including Covid 19 related grants and Coronavirus Job Retention Scheme grants ) are credited to the Income Statement when the grants are receivable and the company can predict with reasonable certainty the amount of the grant receivable.

Stocks

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

Financial instruments

The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.

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.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

Office

Motor

and

Totals

machinery

equipment

vehicles

fittings

£

£

£

£

£

COST

At 1 November 2020

68,479

36,785

14,068

16,195

1,431

Additions

21,814

-

979

20,275

560

Disposals

(16,195

)

-

-

(16,195

)

-

At 31 October 2021

74,098

36,785

15,047

20,275

1,991

DEPRECIATION

At 1 November 2020

41,141

22,749

10,950

7,086

356

Charge for year

9,945

3,439

1,027

5,069

410

Eliminated on disposal

(7,086

)

-

-

(7,086

)

-

At 31 October 2021

44,000

26,188

11,977

5,069

766

NET BOOK VALUE

At 31 October 2021

30,098

10,597

3,070

15,206

1,225

At 31 October 2020

27,338

14,036

3,118

9,109

1,075

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Trade debtors

8,995

3,643

Other debtors

12,322

11,497

21,317

15,140

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Bank loans and overdrafts

8,689

-

Hire purchase contracts

-

2,500

Trade creditors

24,586

13,004

Taxation and social security

15,192

9,646

Other creditors

1,217

25,790

49,684

50,940

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.21

31.10.20

£

£

Bank loans

41,312

-

Hire purchase contracts

-

2,709

41,312

2,709

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

886

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.21

31.10.20

£

£

Hire purchase contracts

-

5,209