Cable Tapes (UK) Ltd - Accounts to registrar (filleted) - small 18.2
Cable Tapes (UK) Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2021 |
FOR |
CABLE TAPES (UK) LTD |
CABLE TAPES (UK) LTD (REGISTERED NUMBER: 06561221) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30th June 2021 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
CABLE TAPES (UK) LTD |
COMPANY INFORMATION |
for the Year Ended 30th June 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 City Road East |
Manchester |
M15 4PN |
CABLE TAPES (UK) LTD (REGISTERED NUMBER: 06561221) |
STATEMENT OF FINANCIAL POSITION |
30th June 2021 |
2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
CABLE TAPES (UK) LTD (REGISTERED NUMBER: 06561221) |
STATEMENT OF FINANCIAL POSITION - continued |
30th June 2021 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
CABLE TAPES (UK) LTD (REGISTERED NUMBER: 06561221) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30th June 2021 |
1. | STATUTORY INFORMATION |
Cable Tapes (UK) Limited is a private company limited by share capital, incorporated in England and Wales, registration number 06561221. The address of the registered office is 1 City Road East, Manchester, M15 4PN. The address of the principal place of business is New St Marks Works, St Marks Lane, Manchester, M7 4FE. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents sales to external customers at invoiced amounts less value added tax or local taxes on sales. Revenue is recognised when goods are shipped to the customer. |
Turnover principally consists of the sale of cable materials. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods: |
Plant and machinery | 20% on cost |
Fixtures and fittings | 15% on cost |
Motor vehicles | 25% on reducing balance |
Computer equipment | 33% on cost |
At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. |
Government grants |
Government grants are recognised on the accrual model and are measured at fair value of the asset receivable. Grants are classified as relating either to other income or to assets. Grants related to other income are recognised in profit or loss over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. |
CABLE TAPES (UK) LTD (REGISTERED NUMBER: 06561221) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th June 2021 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund. |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Cash and cash equivalents |
Cash and cash equivalents are represented by cash at bank and in hand. |
CABLE TAPES (UK) LTD (REGISTERED NUMBER: 06561221) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th June 2021 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets that are held by the company under leases which transfer to the company substantially all the risks and rewards of ownership are classified as being held under finance leases. Leases which do not transfer substantially all the risks and rewards of ownership to the company are classified as operating leases. |
Assets held under finance leases are initially recognised as assets of the company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the statements of financial position as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability, finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the company's policy on borrowing costs . |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1st July 2020 |
Additions |
At 30th June 2021 |
DEPRECIATION |
At 1st July 2020 |
Charge for year |
At 30th June 2021 |
NET BOOK VALUE |
At 30th June 2021 |
At 30th June 2020 |
CABLE TAPES (UK) LTD (REGISTERED NUMBER: 06561221) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th June 2021 |
4. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1st July 2020 |
Additions |
At 30th June 2021 |
DEPRECIATION |
At 1st July 2020 |
Charge for year |
At 30th June 2021 |
NET BOOK VALUE |
At 30th June 2021 |
At 30th June 2020 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Amounts owed by participating interests | 22,136 | 15,905 |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
Hire purchase contracts |
CABLE TAPES (UK) LTD (REGISTERED NUMBER: 06561221) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th June 2021 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2021 | 2020 |
£ | £ |
Hire purchase contracts | 77,227 | 110,600 |
A bank loans is secured by way of a fixed and floating charge dated 31 January 2019, over the leasehold building in the accounts. |
Bank overdrafts and loans are secured by way of various fixed and floating charges, over the property or undertaking of the company. Advances against book debts are secured by a fixed and floating charge over the assets of the company. |
Amounts due under hire purchase liabilities are secured on the assets concerned. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
Ordinary A | £1.00 | 1 | 1 |
Ordinary B | £1.00 | 1 | 1 |
2 | 2 |