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Unaudited Financial Statements for the Year Ended 31st May 2020 |
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Cam Machine Components Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31st May 2020 |
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for |
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Cam Machine Components Limited |
Cam Machine Components Limited (Registered number: 03372993) |
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Contents of the Financial Statements |
for the Year Ended 31st May 2020 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Cam Machine Components Limited |
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Company Information |
for the Year Ended 31st May 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 |
Whetcombe Whey |
Ropers Lane |
Wrington |
Somerset |
BS40 5NH |
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BANKERS: |
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Bridle Road |
Bootle |
Merseyside |
L30 4GB |
Cam Machine Components Limited (Registered number: 03372993) |
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Abridged Balance Sheet |
31st May 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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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. |
Cam Machine Components Limited (Registered number: 03372993) |
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Abridged Balance Sheet - continued |
31st May 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Cam Machine Components Limited (Registered number: 03372993) |
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Notes to the Financial Statements |
for the Year Ended 31st May 2020 |
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1. | STATUTORY INFORMATION |
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Cam Machine Components Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The following accounting policies have been consistently applied in dealing with the items which are considered |
material to the company's accounts. |
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Turnover |
Turnover consists of the invoiced value, excluding VAT, for goods and services supplied to third parties in the |
ordinary course of business during the year and is attributable to the principal activity of the company. |
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Tangible fixed assets and depreciation |
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Plant and machinery etc | - |
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While acknowledging that it is a requirement of the Companies Act to show an annual depreciation charge for |
freehold property, the director believes that the value of the property is no less than the value shown in the accounts |
as at the year end and therefore no depreciation has been provided. |
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The director does not believe it would serve any practical purpose to carry out periodic valuations of the property |
asset owned by the company. |
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It is the director's intention to maintain the property to its present state in order to maintain the value reflected in the |
accounts. |
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Stocks |
Work in progress is valued at the lower of cost or net realisable value. |
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Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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Taxation |
The charge for taxation is based on the trading profit or loss for the year and takes into account deferred taxation. |
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Full provision is made for deferred tax liabilities arising from timing differences between the recognition of gains |
and losses in the accounts and their recognition for corporate tax purposes. No account is taken for any deferred tax |
assets where they arise. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Cam Machine Components Limited (Registered number: 03372993) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st May 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs |
The company makes contributions to pension schemes for the benefit of the employees. The company also operates a |
salary sacrifice scheme for the the benefit of the employees. |
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Contributions payable to pension schemes are charged to the profit and loss account in the year to which they relate. |
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The assets of the scheme are invested and managed independently of the finances of the company. |
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Grants |
Any grants that are received are taken into the profit and loss account on receipt. |
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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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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st June 2019 |
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Additions |
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Disposals | ( |
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At 31st May 2020 |
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DEPRECIATION |
At 1st June 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31st May 2020 |
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NET BOOK VALUE |
At 31st May 2020 |
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At 31st May 2019 |
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5. | RELATED PARTY DISCLOSURES |
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The company paid rent of £24,960 ( 2019 - £23,638 ) for a commercial unit from which the business operates to a |
company owned by the director and a former director. |
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6. | POST BALANCE SHEET EVENTS |
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Since the end of the financial year, the company has entered into a share buy back agreement with a shareholder. |
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7. | ULTIMATE CONTROLLING PARTY |
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S E Farr by virtue of his majority shareholding is the controlling party of the company. |