C D Office Interiors Ltd. - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04082125 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2023

for

C D Office Interiors Ltd.

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D R Jones

Mrs D Jones

REGISTERED OFFICE:

10-12 Mulberry Green

Old Harlow

Essex

CM17 0ET

REGISTERED NUMBER:

04082125 (England and Wales)

ACCOUNTANTS:

Giess Wallis Crisp LLP

Chartered Accountants

10/12 Mulberry Green

Old Harlow

Essex

CM17 0ET

BANKERS:

Barclays Bank Plc

The Water Gardens

Southgate

Harlow

Essex

CM20 1AN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

39,157

25,490

Investment property

6

283,000

283,000

322,157

308,490

CURRENT ASSETS

Stocks

7

73,918

84,995

Debtors

8

31,048

22,682

Cash at bank and in hand

343,951

432,825

448,917

540,502

CREDITORS

Amounts falling due within one year

9

448,611

338,140

NET CURRENT ASSETS

306

202,362

TOTAL ASSETS LESS CURRENT LIABILITIES

322,463

510,852

CREDITORS

Amounts falling due after more than one year

10

(17,018

)

(30,385

)

PROVISIONS FOR LIABILITIES

13

(30,656

)

(28,059

)

NET ASSETS

274,789

452,408

CAPITAL AND RESERVES

Called up share capital

14

500

1,000

Fair value reserve

15

128,612

128,612

Retained earnings

15

145,677

322,796

SHAREHOLDERS' FUNDS

274,789

452,408

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2024 and were signed on its behalf by:

Mr D R Jones - Director

1.	STATUTORY INFORMATION

C D Office Interiors Ltd. 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.

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 as modified by the revaluation of certain assets.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover

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

Goodwill

Goodwill has been fully amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

Debtors

Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 6 (2022 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2023

and 31 December 2023

60,000

AMORTISATION

At 1 January 2023

and 31 December 2023

60,000

NET BOOK VALUE

At 31 December 2023

-

At 31 December 2022

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2023

28,322

85,499

4,435

118,256

Additions

509

29,354

-

29,863

Disposals

-

(26,100

)

-

(26,100

)

At 31 December 2023

28,831

88,753

4,435

122,019

DEPRECIATION

At 1 January 2023

26,315

63,905

2,546

92,766

Charge for year

630

8,744

630

10,004

Eliminated on disposal

-

(19,908

)

-

(19,908

)

At 31 December 2023

26,945

52,741

3,176

82,862

NET BOOK VALUE

At 31 December 2023

1,886

36,012

1,259

39,157

At 31 December 2022

2,007

21,594

1,889

25,490

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2023

and 31 December 2023

23,272

DEPRECIATION

At 1 January 2023

11,001

Charge for year

3,068

At 31 December 2023

14,069

NET BOOK VALUE

At 31 December 2023

9,203

At 31 December 2022

12,271

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2023

and 31 December 2023

283,000

NET BOOK VALUE

At 31 December 2023

283,000

At 31 December 2022

283,000

Fair value at 31 December 2023 is represented by:

£

Valuation in 2023

283,000

If investment property had not been revalued it would have been included at the following historical cost:

2023

2022

£

£

Cost

160,811

160,811

Aggregate depreciation

(48,937

)

(45,721

)

Investment property was valued on an open market basis on 31 December 2023 by the directors. .

7.

STOCKS

2023

2022

£

£

Stocks

500

500

Work-in-progress

73,418

84,495

73,918

84,995

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

VAT

31,048

22,682

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts (see note 11)

10,760

11,010

Other loans (see note 11)

150,000

-

Hire purchase contracts

3,600

3,600

Trade creditors

212,376

180,871

Tax

9,190

5,164

Social security and other taxes

19,191

18,664

Barclaycard

16,205

18,515

Other creditors

-

19,445

Directors' current accounts

307

9,803

Accruals and deferred income

26,982

71,068

448,611

338,140

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans (see note 11)

14,318

24,085

Hire purchase contracts

2,700

6,300

17,018

30,385

11.

LOANS

An analysis of the maturity of loans is given below:

2023

2022

£

£

Amounts falling due within one year or on demand:

Bank loans

10,760

11,010

Other loans

150,000

-

160,760

11,010

Amounts falling due between one and two years:

Bank loans - 1-2 years

14,318

22,020

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

2,065

12.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Hire purchase contracts

6,300

9,900

Loan from an individual

150,000

-

156,300

9,900

Hire purchase liabilities are secured on the asset concerned.

The loan from an individual as secured on all the assets of the company.

13.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

30,656

28,059

Deferred

tax

£

Balance at 1 January 2023

28,059

Provided during year

2,597

Balance at 31 December 2023

30,656

14.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

500

Ordinary

£1

500

1,000

(2022 - 1,000 )

15.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2023

322,796

128,612

451,408

Profit for the year

41,381

41,381

Dividends

(39,000

)

(39,000

)

Purchase of own shares

(179,500

)

-

(179,500

)

At 31 December 2023

145,677

128,612

274,289