Custom Transformers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01068311 (England and Wales)

Financial Statements

for the Year Ended 31 December 2021

for

Custom Transformers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Baldwin

J C Pike

Mrs D P Baldwin

Mrs L L Pike

SECRETARY:

J C Pike

REGISTERED OFFICE:

Unit 23 Whitewalls

Easton Grey

Nr. Malmesbury

Wiltshire

SN16 0RD

REGISTERED NUMBER:

01068311 (England and Wales)

ACCOUNTANTS:

Mander Duffill

Chartered Accountants

The Old Post Office

41-43 Market Place

Chippenham

Wiltshire

SN15 3HR

FIXED ASSETS

Tangible assets

4

17,981

23,311

CURRENT ASSETS

Stocks

146,933

160,195

Debtors

5

202,650

124,708

Cash at bank

280,996

257,920

630,579

542,823

CREDITORS

Amounts falling due within one year

6

174,004

167,492

NET CURRENT ASSETS

456,575

375,331

TOTAL ASSETS LESS CURRENT LIABILITIES

474,556

398,642

CREDITORS

Amounts falling due after more than one year

7

-

(50,000

)

PROVISIONS FOR LIABILITIES

(3,416

)

(4,429

)

NET ASSETS

471,140

344,213

CAPITAL AND RESERVES

Called up share capital

766

766

Capital redemption reserve

4,284

4,284

Retained earnings

466,090

339,163

SHAREHOLDERS' FUNDS

471,140

344,213

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 8 March 2022 and were signed on its behalf by:

K Baldwin - Director

J C Pike - Director

1.	STATUTORY INFORMATION

Custom Transformers 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.

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

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 etc

-

25% on cost and 15% on reducing balance

Stocks

Stocks have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture or completion.

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 20 (2020 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

and 31 December 2021

692,650

DEPRECIATION

At 1 January 2021

669,339

Charge for year

5,330

At 31 December 2021

674,669

NET BOOK VALUE

At 31 December 2021

17,981

At 31 December 2020

23,311

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

196,880

117,880

Other debtors

5,770

6,828

202,650

124,708

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

40,851

35,490

Other creditors

133,153

132,002

174,004

167,492

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Other creditors

-

50,000

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.21

31.12.20

£

£

Within one year

6,547

-

Between one and five years

5,456

-

12,003

-