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REGISTERED NUMBER: 00440246 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

STOCKFIELD METAL SPINNERS LTD

STOCKFIELD METAL SPINNERS LTD (REGISTERED NUMBER: 00440246)






Contents of the Financial Statements
for the year ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Directors' Responsibilities Statement 6

Independent Chartered Accountants' Review Report 7


STOCKFIELD METAL SPINNERS LTD

Company Information
for the year ended 31 March 2022







DIRECTORS: SA Constance
T A Constance
K Stephens





SECRETARY: T A Constance





REGISTERED OFFICE: McIntire House
Sherbourne Road
Balsall Heath
Birmingham
B12 9DJ





REGISTERED NUMBER: 00440246 (England and Wales)





ACCOUNTANTS: Camerons Accountancy Consultants Limited
Chartered Accountants
9 Worton Park
Cassington
Witney
Oxfordshire
OX29 4SX

STOCKFIELD METAL SPINNERS LTD (REGISTERED NUMBER: 00440246)

Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 303,012 327,461

CURRENT ASSETS
Stocks 174,512 117,876
Debtors 5 286,046 228,805
Cash at bank 157,761 98,815
618,319 445,496
CREDITORS
Amounts falling due within one year 6 278,762 161,732
NET CURRENT ASSETS 339,557 283,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

642,569

611,225

CAPITAL AND RESERVES
Called up share capital 2,100 2,100
Share premium 9,900 9,900
Fair value reserve 7 308,641 308,641
Retained earnings 321,928 290,584
SHAREHOLDERS' FUNDS 642,569 611,225

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2022 and were signed on its behalf by:





SA Constance - Director


STOCKFIELD METAL SPINNERS LTD (REGISTERED NUMBER: 00440246)

Notes to the Financial Statements
for the year ended 31 March 2022

1. STATUTORY INFORMATION

Stockfield Metal Spinners Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - in accordance with the property
Plant and machinery - 25% on reducing balance and 10% on reducing balance
Fixtures and fittings - at variable rates on reducing balance

Government grants
Government grants received during the year have been recognised in the profit and loss account using the accrual model in the same period for which the expenditure was incurred and set against the corresponding cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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.

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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


STOCKFIELD METAL SPINNERS LTD (REGISTERED NUMBER: 00440246)

Notes to the Financial Statements - continued
for the year ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2021 - 20 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 April 2021
and 31 March 2022 381,215 1,063,613 53,227 1,498,055
DEPRECIATION
At 1 April 2021 133,362 992,202 45,030 1,170,594
Charge for year 8,588 14,987 874 24,449
At 31 March 2022 141,950 1,007,189 45,904 1,195,043
NET BOOK VALUE
At 31 March 2022 239,265 56,424 7,323 303,012
At 31 March 2021 247,853 71,411 8,197 327,461

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 262,677 213,338
Other debtors 23,369 15,467
286,046 228,805

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 186,822 105,159
Amounts owed to group undertakings 9,318 4,314
Taxation and social security 25,226 25,913
Other creditors 57,396 26,346
278,762 161,732

STOCKFIELD METAL SPINNERS LTD (REGISTERED NUMBER: 00440246)

Notes to the Financial Statements - continued
for the year ended 31 March 2022

7. RESERVES
Fair
value
reserve
£   
At 1 April 2021
and 31 March 2022 308,641

8. ULTIMATE CONTROLLING PARTY

The company is wholly owned by Akramatic Engineering Co. Limited, which itself is controlled by Mr S.A. & Mrs T.A. Constance, the directors and shareholders.

Directors' Responsibilities Statement
on the Unaudited Financial Statements of
Stockfield Metal Spinners Ltd


The following reproduces the text of the report prepared for the directors and members 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 Directors are not required to be filed with the Registrar of Companies.

We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to:

- ensure that the company has kept proper accounting records;
- prepare financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2022 and of its profit for that period in accordance with United Kingdom Generally Accepted Accounting Practice; and
- follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements.


ON BEHALF OF THE BOARD:





SA Constance - Director

15 August 2022

Independent Chartered Accountants' Review Report to the Directors of
Stockfield Metal Spinners Ltd

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

We have reviewed the financial statements of Stockfield Metal Spinners Ltd for the year ended 31 March 2022, which comprise the Income Statement, Balance Sheet and the related notes 1 to 0. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company's directors, as a body, in accordance with the terms of our engagement letter dated 28 June 2022. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report or the conclusions we have formed.

Directors' responsibility for the financial statements
As explained more fully in the Directors' Responsibilities Statement set out on page nil, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility
Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.

Scope of the assurance review
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial statements.

Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:
- so as to give a true and fair view of the state of the company's affairs as at 31 March 2022 and of its profit for the year then ended;
- in accordance with United Kingdom Generally Accepted Accounting Practice; and
- in accordance with the requirements of the Companies Act 2006.




Camerons Accountancy Consultants Limited
Chartered Accountants
9 Worton Park
Cassington
Witney
Oxfordshire
OX29 4SX


15 August 2022