Company Registration No. 05993740 (England and Wales)
C.A.B. Services (UK) Ltd
Unaudited accounts
for the year ended 31 March 2021
C.A.B. Services (UK) Ltd
Statement of financial position
as at
31 March 2021
Tangible assets
101,485
63,968
Cash at bank and in hand
-
3
Creditors: amounts falling due within one year
(48,166)
(39,080)
Net current liabilities
(22,185)
(14,828)
Total assets less current liabilities
79,300
49,140
Creditors: amounts falling due after more than one year
(59,446)
(2,290)
Provisions for liabilities
Deferred tax
(19,282)
(12,154)
Called up share capital
50
50
Profit and loss account
522
34,646
Shareholders' funds
572
34,696
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 August 2021 and were signed on its behalf by
C A Breward
Director
Company Registration No. 05993740
C.A.B. Services (UK) Ltd
Notes to the Accounts
for the year ended 31 March 2021
C.A.B. Services (UK) Ltd is a private company, limited by shares, registered in England and Wales, registration number 05993740. The registered office is The Old Brickworks, Buckle Street, Honeybourne, Worcestershire, WR11 8LH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The comparatives have been restated following prior year adjustments to reclassify loan repayments to rental costs and the associated tax impact. A further adjustment has been made to recognise the deferred tax liability which arose on the purchase of the van fleet.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Buildings 10% straight line
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
25% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
C.A.B. Services (UK) Ltd
Notes to the Accounts
for the year ended 31 March 2021
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2020
40,000
32,887
140,080
11,578
224,545
Additions
-
-
66,962
385
67,347
At 31 March 2021
40,000
32,887
207,042
11,963
291,892
At 1 April 2020
12,000
22,488
115,976
10,113
160,577
Charge for the year
4,000
2,600
22,767
463
29,830
At 31 March 2021
16,000
25,088
138,743
10,576
190,407
At 31 March 2021
24,000
7,799
68,299
1,387
101,485
At 31 March 2020
28,000
10,399
24,104
1,465
63,968
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
14,901
22,614
Accrued income and prepayments
-
1,635
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
19,285
20,899
Obligations under finance leases and hire purchase contracts
18,316
2,498
Trade creditors
1,193
245
Taxes and social security
-
8,751
Loans from directors
8,542
5,857
The bank overdraft is repayable on demand and is secured on the company's vans.
7
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
27,779
2,290
C.A.B. Services (UK) Ltd
Notes to the Accounts
for the year ended 31 March 2021
8
Deferred taxation
2021
2020
Accelerated capital allowances
22,259
12,154
Tax losses carried forward
(2,977)
-
Provision at start of year
12,154
12,905
Charged/(credited) to the profit and loss account
7,128
(751)
Provision at end of year
19,282
12,154
9
Average number of employees
During the year the average number of employees was 1 (2020: 1).