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 2022

C.M.F. (Slough) Limited

Financial Statements

Year ended 31 December 2022

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 2022

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 2022, 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

26 June 2023

C.M.F. (Slough) Limited

Statement of Financial Position

31 December 2022

	2022		2021
Note	£	£	£	£

Fixed assets

Tangible assets	5		86,186		56,353

Current assets

Stocks		74,250	60,780
Debtors	6	163,121	256,654
		---------	---------
		237,371	317,434

Creditors: amounts falling due within one year	7	233,440		266,806
		---------		---------
Net current assets			3,931		50,628
			--------		---------
Total assets less current liabilities			90,117		106,981

Creditors: amounts falling due after more than one year	8	25,617	37,050
		--------	---------
Net assets		64,500	69,931
		--------	---------

Capital and reserves

Called up share capital	2,000	2,000
Profit and loss account	62,500	67,931
	--------	--------
Shareholders funds	64,500	69,931
	--------	--------

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 2022 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 2022

These financial statements were approved by the board of directors and authorised for issue on 26 June 2023 , 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 2022

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 (2021: 11 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2022	123,733	23,920	22,690	170,343
Additions	26,793	21,486	–	48,279
	---------	--------	--------	---------
At 31 December 2022	150,526	45,406	22,690	218,622
	---------	--------	--------	---------
Depreciation
At 1 January 2022	84,688	9,385	19,917	113,990
Charge for the year	11,943	5,809	694	18,446
	---------	--------	--------	---------
At 31 December 2022	96,631	15,194	20,611	132,436
	---------	--------	--------	---------
Carrying amount
At 31 December 2022	53,895	30,212	2,079	86,186
	---------	--------	--------	---------
At 31 December 2021	39,045	14,535	2,773	56,353
	---------	--------	--------	---------

6. Debtors

	2022	2021
	£	£
Trade debtors	61,021	96,107
Amounts owed by group undertakings and undertakings in which the company has a participating interest	5,698	5,698
Other debtors	96,402	154,849
	---------	---------
	163,121	256,654
	---------	---------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	91,582	112,015
Trade creditors	79,992	117,281
Social security and other taxes	32,786	19,027
Other creditors	29,080	18,483
	---------	---------
	233,440	266,806
	---------	---------

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

	2022	2021
	£	£
Bank loans and overdrafts	25,617	35,449
Other creditors	–	1,601
	--------	--------
	25,617	37,050
	--------	--------

9. Other financial commitments

The company had total guarantees and commitments at the year end of £697,037(2021: £764,750).

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.