C.M.F. (Slough) Limited Filleted accounts for Companies House (small and micro)

C.M.F. (SLOUGH) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03134610

C.M.F. (Slough) Limited

Filleted Unaudited Financial Statements

Year ended

31 December 2021

C.M.F. (Slough) Limited

Financial Statements

Year ended 31 December 2021

Contents	Page

Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

C.M.F. (Slough) Limited

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of C.M.F. (Slough) Limited

Year ended 31 December 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of C.M.F. (Slough) Limited for the year ended 31 December 2021, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.

PORTER GARLAND Chartered accountants

Communication House Victoria Avenue Camberley Surrey GU15 3HX

28 September 2022

C.M.F. (Slough) Limited

Statement of Financial Position

31 December 2021

	2021		2020
Note	£	£	£	£

Fixed assets

Tangible assets	5		56,353		14,857

Current assets

Stocks		60,780	5,218
Debtors	6	256,654	134,965
Cash at bank and in hand		–	25,116
		---------	---------
		317,434	165,299

Creditors: amounts falling due within one year	7	266,806		139,727
		---------		---------
Net current assets			50,628		25,572
			---------		--------
Total assets less current liabilities			106,981		40,429

Creditors: amounts falling due after more than one year	8	37,050	54,477
		---------	--------
Net assets/(liabilities)		69,931	( 14,048)
		---------	--------

Capital and reserves

Called up share capital	2,000	2,000
Profit and loss account	67,931	( 16,048)
	--------	--------
Shareholders funds/(deficit)	69,931	( 14,048)
	--------	--------

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 income and retained earnings has not been delivered.

For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

C.M.F. (Slough) Limited

Statement of Financial Position (continued)

31 December 2021

These financial statements were approved by the board of directors and authorised for issue on 28 September 2022 , and are signed on behalf of the board by:

Mr J Rouse
Director

Company registration number: 03134610

C.M.F. (Slough) Limited

Notes to the Financial Statements

Year ended 31 December 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 4, Priors Way Industrial Estate, Priors Way, Maidenhead, Berkshire, SL6 2HP.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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:

Plant and machinery	-	15% straight line
Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured 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 the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2020: 13 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2021	84,943	7,382	22,690	115,015
Additions	38,790	16,538	–	55,328
	---------	--------	--------	---------
At 31 December 2021	123,733	23,920	22,690	170,343
	---------	--------	--------	---------
Depreciation
At 1 January 2021	76,206	6,793	17,159	100,158
Charge for the year	8,482	2,592	2,758	13,832
	---------	--------	--------	---------
At 31 December 2021	84,688	9,385	19,917	113,990
	---------	--------	--------	---------
Carrying amount
At 31 December 2021	39,045	14,535	2,773	56,353
	---------	--------	--------	---------
At 31 December 2020	8,737	589	5,531	14,857
	---------	--------	--------	---------

6. Debtors

	2021	2020
	£	£
Trade debtors	96,107	88,493
Amounts owed by group undertakings and undertakings in which the company has a participating interest	5,698	36,396
Other debtors	154,849	10,076
	---------	---------
	256,654	134,965
	---------	---------

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	112,015	55,170
Trade creditors	117,281	18,265
Social security and other taxes	19,027	48,322
Other creditors	18,483	17,970
	---------	---------
	266,806	139,727
	---------	---------

The company has granted a fixed and floating charge on its assets to secure a loan.

8. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Bank loans and overdrafts	35,449	50,000
Other creditors	1,601	4,477
	--------	--------
	37,050	54,477
	--------	--------

9. Other financial commitments

The company had total guarantees and commitments at the year end of £764,750(2020: £52,816).

10. Director's advances, credits and guarantees

The directors loan account is not disclosed as permitted under Section 1A of FRS 102.

11. Controlling party

The company is a wholly owned subsidiary of BRN Holdings Ltd. The Registered Office of the parent company is Communication House, Victoria Avenue, Camberley, Surrey GU15 3HX.