REGISTERED NUMBER:
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Computer Magnetics Limited |
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Unaudited Financial Statements |
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For The Year Ended 31 March 2020 |
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REGISTERED NUMBER:
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Computer Magnetics Limited |
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Unaudited Financial Statements |
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For The Year Ended 31 March 2020 |
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Computer Magnetics Limited (Registered number: 02232950) |
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Contents of the Financial Statements |
For The Year Ended 31 March 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Report of the Accountants | 7 |
Computer Magnetics Limited |
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Company Information |
For The Year Ended 31 March 2020 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Unit 6, Acorn Business Park |
Woodseats Close |
Sheffield |
South Yorkshire |
S8 0TB |
Computer Magnetics Limited (Registered number: 02232950) |
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Balance Sheet |
31 March 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Computer Magnetics Limited (Registered number: 02232950) |
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Balance Sheet - continued |
31 March 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Computer Magnetics Limited (Registered number: 02232950) |
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Notes to the Financial Statements |
For The Year Ended 31 March 2020 |
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1. | STATUTORY INFORMATION |
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Computer Magnetics Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Accounting policies |
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The following accounting policies have been used consistently in dealing with items which are considered material in relation to the company's accounts. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Motor vehicles | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Computer Magnetics Limited (Registered number: 02232950) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 March 2020 |
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4. | TANGIBLE FIXED ASSETS |
Motor |
vehicles |
£ |
COST |
At 1 April 2019 |
and 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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5. | FIXED ASSET INVESTMENTS |
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2020 | 2019 |
£ | £ |
Other investments not loans |
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Other loans |
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Additional information is as follows: |
Other |
investments |
£ |
COST |
At 1 April 2019 |
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Additions |
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Disposals | ( |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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Other |
loans |
£ |
At 1 April 2019 |
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Repayment in year | ( |
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Other movement |
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At 31 March 2020 |
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Computer Magnetics Limited (Registered number: 02232950) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 March 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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Computer Magnetics Limited |
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Report of the Accountants to the Director of |
Computer Magnetics Limited |
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The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
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As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2020 set out on pages three to seven and you consider that the company is exempt from an audit. |
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In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
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Our report may not be relied upon by any other person for any other purpose whatsoever. |
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Roddis Taylor Robinson neither owes or accepts any duty to any other party and shall not be liable for any loss, damage or expense caused by their reliance on these accounts. |
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Chartered Accountants |
Unit 6, Acorn Business Park |
Woodseats Close |
Sheffield |
South Yorkshire |
S8 0TB |
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