Company registration number 04896377 (England and Wales)
CDC FACILITIES MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
CDC FACILITIES MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
CDC FACILITIES MANAGEMENT LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
133,278
56,144
Current assets
Stocks
7,500
7,350
Debtors
4
1,187,364
637,662
Cash at bank and in hand
261,175
310,158
1,456,039
955,170
Creditors: amounts falling due within one year
5
(1,309,872)
(791,324)
Net current assets
146,167
163,846
Total assets less current liabilities
279,445
219,990
Creditors: amounts falling due after more than one year
6
(45,295)
(10,733)
Provisions for liabilities
(33,320)
(10,667)
Net assets
200,830
198,590
Capital and reserves
Called up share capital
9
112
112
Share premium account
7,291
7,291
Profit and loss reserves
193,427
191,187
Total equity
200,830
198,590
CDC FACILITIES MANAGEMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2022
31 December 2022
- 2 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 6 July 2023 and are signed on its behalf by:
Mr S Marcetic
Director
Company Registration No. 04896377
CDC FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information
CDC Facilities Management Limited is a private company limited by shares incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The presentation currency of the financial statements is the Pound Sterling (£).
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery
15% on reducing balance
Fixtures and fittings
20% on reducing balance
Computer equipment
33% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Stock
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items.
1.5
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
CDC FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
1.6
Leases
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
12
11
3
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2022
7,750
13,716
89,578
111,044
Additions
1,584
7,202
94,798
103,584
Disposals
(14,500)
(14,500)
At 31 December 2022
7,750
1,584
20,918
169,876
200,128
Depreciation and impairment
At 1 January 2022
5,850
9,053
39,997
54,900
Depreciation charged in the year
515
123
4,310
17,599
22,547
Eliminated in respect of disposals
(10,597)
(10,597)
At 31 December 2022
6,365
123
13,363
46,999
66,850
Carrying amount
At 31 December 2022
1,385
1,461
7,555
122,877
133,278
At 31 December 2021
1,900
4,663
49,581
56,144
Included within motor vehicles are assets with a net book value of £87,404 (2021 - £31,179) which are held as security against the finance lease agreements to which they relate.
CDC FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
989,334
612,421
Amounts recoverable on contract
177,641
6,500
Other debtors
20,389
18,741
1,187,364
637,662
5
Creditors: amounts falling due within one year
2022
2021
Notes
£
£
Obligations under finance leases
7
39,646
11,791
Trade creditors
769,698
360,240
Amounts owed to group undertakings
99,678
95,348
Taxation and social security
217,747
164,454
Other creditors
24,303
23,611
Accruals and deferred income
158,800
135,880
1,309,872
791,324
6
Creditors: amounts falling due after more than one year
2022
2021
Notes
£
£
Hire purchase contracts
7
45,295
10,733
45,295
10,733
7
Finance lease obligations
2022
2021
Future minimum lease payments due under finance leases:
£
£
Within one year
39,646
11,791
In two to five years
45,295
10,733
84,941
22,524
The Company's obligations under finance leases are secured by the lessor's charge over the leased assets. The net book value of secured assets is disclosed in note 4.
CDC FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
8
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2022
2021
Balances:
£
£
Accelerated capital allowances
33,320
10,667
2022
Movements in the year:
£
Liability at 1 January 2022
10,667
Charge to profit or loss
14,656
Effect of change in tax rate - profit or loss
7,997
Liability at 31 December 2022
33,320
The deferred tax liability set out above is expected to reverse in the short-term and relates to accelerated capital allowances that are expected to mature within the same period.
9
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
90
90
112
90
Ordinary A of £1 each
22
22
-
22
112
112
112
112
10
Operating lease commitments
Lessee
2022
2021
£
£
Within one year
17,394
6,307
Between two and five years
14,358
12,251
31,752
18,558
CDC FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 7 -
11
Parent company
Service Response Group Limited, a company incorporated in England and Wales, is the company's ultimate parent company at the balance sheet date. The registered office is Kingsnorth House, Blenheim Way, Birmingham, West Midlands, B44 8LS
2022-12-312022-01-01false06 July 2023CCH SoftwareCCH Accounts Production 2023.100No description of principal activityMr Carl IsakovicMr Spiro MarceticMr Richard PerksMr S Marcetic048963772022-01-012022-12-31048963772022-12-31048963772021-12-3104896377core:PlantMachinery2022-12-3104896377core:FurnitureFittings2022-12-3104896377core:ComputerEquipment2022-12-3104896377core:MotorVehicles2022-12-3104896377core:PlantMachinery2021-12-3104896377core:FurnitureFittings2021-12-3104896377core:ComputerEquipment2021-12-3104896377core:MotorVehicles2021-12-3104896377core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3104896377core:CurrentFinancialInstrumentscore:WithinOneYear2021-12-3104896377core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3104896377core:Non-currentFinancialInstrumentscore:AfterOneYear2021-12-3104896377core:CurrentFinancialInstruments2022-12-3104896377core:CurrentFinancialInstruments2021-12-3104896377core:Non-currentFinancialInstruments2022-12-3104896377core:Non-currentFinancialInstruments2021-12-3104896377core:ShareCapital2022-12-3104896377core:ShareCapital2021-12-3104896377core:SharePremium2022-12-3104896377core:SharePremium2021-12-3104896377core:RetainedEarningsAccumulatedLosses2022-12-3104896377core:RetainedEarningsAccumulatedLosses2021-12-3104896377core:ShareCapitalOrdinaryShares2022-12-3104896377core:ShareCapitalOrdinaryShares2021-12-3104896377bus:CompanySecretaryDirector12022-01-012022-12-3104896377core:PlantMachinery2022-01-012022-12-3104896377core:FurnitureFittings2022-01-012022-12-3104896377core:ComputerEquipment2022-01-012022-12-3104896377core:MotorVehicles2022-01-012022-12-31048963772021-01-012021-12-3104896377core:PlantMachinery2021-12-3104896377core:FurnitureFittings2021-12-3104896377core:ComputerEquipment2021-12-3104896377core:MotorVehicles2021-12-31048963772021-12-3104896377core:WithinOneYear2022-12-3104896377core:WithinOneYear2021-12-3104896377core:BetweenTwoFiveYears2022-12-3104896377core:BetweenTwoFiveYears2021-12-3104896377bus:PrivateLimitedCompanyLtd2022-01-012022-12-3104896377bus:SmallCompaniesRegimeForAccounts2022-01-012022-12-3104896377bus:FRS1022022-01-012022-12-3104896377bus:AuditExemptWithAccountantsReport2022-01-012022-12-3104896377bus:Director12022-01-012022-12-3104896377bus:Director22022-01-012022-12-3104896377bus:Director32022-01-012022-12-3104896377bus:CompanySecretary12022-01-012022-12-3104896377bus:FullAccounts2022-01-012022-12-31xbrli:purexbrli:sharesiso4217:GBP