Company Registration No. 12139281 (England and Wales)
CDF PRECISION ENGINEERING LIMITED
Unaudited accounts
for the year ended 31 August 2021
CDF PRECISION ENGINEERING LIMITED
Unaudited accounts
Contents
CDF PRECISION ENGINEERING LIMITED
Company Information
for the year ended 31 August 2021
Company Number
12139281 (England and Wales)
Registered Office
61 BINLAND GROVE
CHATHAM
KENT
ME5 9UT
ENGLAND
Accountants
Md Zahirul Abedin
ZATRS ACCOUNTING LIMITED
29 Debnam Grove
Sittingbourne
Kent
ME10 3FN
CDF PRECISION ENGINEERING LIMITED
Statement of financial position
as at
31 August 2021
Tangible assets
22,082
1,782
Cash at bank and in hand
80,082
14,793
Creditors: amounts falling due within one year
(61,326)
(26,427)
Net current assets
31,702
44,715
Total assets less current liabilities
53,784
46,497
Creditors: amounts falling due after more than one year
(74,477)
(46,414)
Net (liabilities)/assets
(20,693)
83
Called up share capital
3
3
Profit and loss account
(20,696)
80
Shareholders' funds
(20,693)
83
For the year ending 31 August 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 28 January 2022 and were signed on its behalf by
C Florey
Director
Company Registration No. 12139281
CDF PRECISION ENGINEERING LIMITED
Notes to the Accounts
for the year ended 31 August 2021
CDF PRECISION ENGINEERING LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12139281. The registered office is 61 BINLAND GROVE, CHATHAM, KENT, ME5 9UT, 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 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 financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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
15 Years
Plant & machinery
5 Years
Fixtures & fittings
15 Years
Computer equipment
25% reducing balance basis
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
CDF PRECISION ENGINEERING LIMITED
Notes to the Accounts
for the year ended 31 August 2021
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally
recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other
comprehensive income or directly in equity respectively.
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2020
(104)
-
2,411
2,307
Additions
12,811
9,325
2,295
24,431
At 31 August 2021
12,707
9,325
4,706
26,738
At 1 September 2020
-
-
525
525
Charge for the year
2,541
622
968
4,131
At 31 August 2021
2,541
622
1,493
4,656
At 31 August 2021
10,166
8,703
3,213
22,082
At 31 August 2020
(104)
-
1,886
1,782
5
Debtors: amounts falling due within one year
2021
2020
Other debtors
9,406
53,327
CDF PRECISION ENGINEERING LIMITED
Notes to the Accounts
for the year ended 31 August 2021
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
13,938
8,587
Trade creditors
20,212
146
Taxes and social security
6,170
2,858
Other creditors
19,756
14,836
7
Creditors: amounts falling due after more than one year
2021
2020
8
Share capital
2021
2020
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3
3
9
Average number of employees
During the year the average number of employees was 4 (2020: 1).