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REGISTERED NUMBER: 01164011 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022

FOR

SOUTH ESSEX FASTENERS LTD

SOUTH ESSEX FASTENERS LTD (REGISTERED NUMBER: 01164011)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTH ESSEX FASTENERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2022







DIRECTORS: T H Whitworth
R E Ricks
Mrs A M Whitworth
Mrs S R Ricks





REGISTERED OFFICE: Clarence Street Chambers
32 Clarence Street
Southend-on-Sea
Essex
SS1 1BD





BUSINESS ADDRESS: 52 Tailors Court
Temple Farm Industrial Estate
Southend On Sea
Essex
SS2 5SX





REGISTERED NUMBER: 01164011 (England and Wales)





ACCOUNTANTS: A.R. Lee & Co.
Chartered Certified Accountants
Clarence Street Chambers
32 Clarence Street
Southend-on-Sea
Essex
SS1 1BD

SOUTH ESSEX FASTENERS LTD (REGISTERED NUMBER: 01164011)

BALANCE SHEET
30 APRIL 2022

30.4.22 30.4.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,608 25,283

CURRENT ASSETS
Stocks 328,452 337,288
Debtors 5 278,157 301,361
Cash in hand 1,669 1,647
608,278 640,296
CREDITORS
Amounts falling due within one year 6 369,288 371,569
NET CURRENT ASSETS 238,990 268,727
TOTAL ASSETS LESS CURRENT
LIABILITIES

257,598

294,010

CREDITORS
Amounts falling due after more than one
year

7

(40,477

)

(63,160

)

PROVISIONS FOR LIABILITIES - (4,804 )
NET ASSETS 217,121 226,046

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Retained earnings 207,121 216,046
SHAREHOLDERS' FUNDS 217,121 226,046

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

SOUTH ESSEX FASTENERS LTD (REGISTERED NUMBER: 01164011)

BALANCE SHEET - continued
30 APRIL 2022


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 7 September 2022 and were signed on its behalf by:





T H Whitworth - Director


SOUTH ESSEX FASTENERS LTD (REGISTERED NUMBER: 01164011)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

1. STATUTORY INFORMATION

South Essex Fasteners 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.

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.
Short leasehold - 40% on cost
Improvements to property - 10% on cost
Plant and machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on 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.

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.

SOUTH ESSEX FASTENERS LTD (REGISTERED NUMBER: 01164011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2021 - 17 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 May 2021
and 30 April 2022 1,556 4,070 130,813
DEPRECIATION
At 1 May 2021 1,556 4,070 119,339
Charge for year - - 1,150
At 30 April 2022 1,556 4,070 120,489
NET BOOK VALUE
At 30 April 2022 - - 10,324
At 30 April 2021 - - 11,474

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2021
and 30 April 2022 22,039 89,192 247,670
DEPRECIATION
At 1 May 2021 16,439 80,983 222,387
Charge for year 1,400 4,125 6,675
At 30 April 2022 17,839 85,108 229,062
NET BOOK VALUE
At 30 April 2022 4,200 4,084 18,608
At 30 April 2021 5,600 8,209 25,283

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.22 30.4.21
£    £   
Trade debtors 265,072 290,195
Other debtors 13,085 11,166
278,157 301,361

SOUTH ESSEX FASTENERS LTD (REGISTERED NUMBER: 01164011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.22 30.4.21
£    £   
Bank loans and overdrafts 84,101 36,313
Trade creditors 227,604 241,496
Taxation and social security 22,201 41,816
Other creditors 35,382 51,944
369,288 371,569

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.22 30.4.21
£    £   
Bank loans 40,477 63,160

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 5,000

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.22 30.4.21
£    £   
Bank overdrafts 61,139 18,803
Bank loans 63,439 80,670
124,578 99,473

The bank loan and overdraft are secured by a mortgage debenture over all of the company's assets and by the personal guarantees of the directors.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.22 30.4.21
value: £    £   
10,000 Ordinary £1 10,000 10,000

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £66,266 payable over the next 3 years.