Cambridge Micro Engineering Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02214950 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

Cambridge Micro Engineering Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Thorne

SECRETARY:

P Glover

REGISTERED OFFICE:

83 High Street

Linton

Cambridge

CB21 4JT

REGISTERED NUMBER:

02214950 (England and Wales)

ACCOUNTANTS:

Paul Glover Associates Limited

William James House

Cowley Road

Cambridge

CB4 0WX

FIXED ASSETS

Tangible assets

4

8,348

2,620

Investments

5

108,960

108,960

117,308

111,580

CURRENT ASSETS

Stocks

17,312

3,450

Debtors

6

32,790

6,484

Cash at bank and in hand

42,260

16,358

92,362

26,292

CREDITORS

Amounts falling due within one year

7

206,758

236,650

NET CURRENT LIABILITIES

(114,396

)

(210,358

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,912

(98,778

)

CREDITORS

Amounts falling due after more than one year

8

22,800

-

NET LIABILITIES

(19,888

)

(98,778

)

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

(19,892

)

(98,782

)

SHAREHOLDERS' FUNDS

(19,888

)

(98,778

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 22 September 2021 and were signed by:

J Thorne - Director

1.	STATUTORY INFORMATION

Cambridge Micro Engineering 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 as modified by the revaluation of certain assets.

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

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Government grants

Government grants, under the accrual model, are recognised immediately in the Income Statement

upon receipt.

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

Financial Instruments are recorded at fair value, where the fair value can be measured reliably. Otherwise they are included at cost less impairment.

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 6 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

66,776

Additions

8,427

At 31 December 2020

75,203

DEPRECIATION

At 1 January 2020

64,156

Charge for year

2,699

At 31 December 2020

66,855

NET BOOK VALUE

At 31 December 2020

8,348

At 31 December 2019

2,620

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2020

and 31 December 2020

108,960

NET BOOK VALUE

At 31 December 2020

108,960

At 31 December 2019

108,960

Cost or valuation at 31 December 2020 is represented by:

Other

investments

£

Valuation in 2019

15,856

Cost

93,104

108,960

If fixed asset investments had not been revalued they would have been included at the following historical cost:

31.12.20

31.12.19

£

£

Cost

93,104

93,104

Fixed asset investments were valued on an open market basis on 31 December 2019 by the directors .

Although the overall market for Entopy services has declined during the pandemic, the directors are confident that the value of the shares should remain at their present level, primarily due to ongoing contract discussions. The directors are also confident that the overall market for Entopy services will recover post pandemic.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

29,736

4,178

Other debtors

3,054

2,306

32,790

6,484

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans and overdrafts

1,200

-

Payments on account

-

8,873

Trade creditors

2,952

888

Taxation and social security

10,129

6,719

Other creditors

192,477

220,170

206,758

236,650

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans

22,800

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

3,600

-

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2020 and 31 December 2019:

31.12.20

31.12.19

£

£

J Thorne

Balance outstanding at start of year

(57,423

)

(57,423

)

Amounts advanced

10,131

870

Amounts repaid

(8,006

)

(870

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(55,298

)

(57,423

)

The above advances and credits are repayable on demand and are interest free.