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REGISTERED NUMBER: 05486928 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

SHILTON CAST IRON & WELDING LTD

SHILTON CAST IRON & WELDING LTD (REGISTERED NUMBER: 05486928)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHILTON CAST IRON & WELDING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mr NP Shilton
Mrs HJ Shilton





SECRETARY: Mrs HJ Shilton





REGISTERED OFFICE: Unit 5B
Nutts Lane Industrial Estate
Hinckley
LE10 3EJ





REGISTERED NUMBER: 05486928 (England and Wales)

SHILTON CAST IRON & WELDING LTD (REGISTERED NUMBER: 05486928)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 309,595 296,419

CURRENT ASSETS
Stocks 5 12,571 12,571
Debtors 6 72,902 24,702
Cash at bank and in hand 109,452 106,364
194,925 143,637
CREDITORS
Amounts falling due within one year 7 59,606 29,926
NET CURRENT ASSETS 135,319 113,711
TOTAL ASSETS LESS CURRENT
LIABILITIES

444,914

410,130

PROVISIONS FOR LIABILITIES 9,314 5,768
NET ASSETS 435,600 404,362

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 435,500 404,262
SHAREHOLDERS' FUNDS 435,600 404,362

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

SHILTON CAST IRON & WELDING LTD (REGISTERED NUMBER: 05486928)

BALANCE SHEET - continued
30 JUNE 2023


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 28 September 2023 and were signed on its behalf by:





Mr NP Shilton - Director


SHILTON CAST IRON & WELDING LTD (REGISTERED NUMBER: 05486928)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Shilton Cast Iron & Welding 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
Revenue comprises the fair value for the sale of goods excluding value added taxes and represents net invoice value less estimated rebates, returns and settlement discounts.In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on receipt of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost excluding land
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

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.

SHILTON CAST IRON & WELDING LTD (REGISTERED NUMBER: 05486928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Covid-19
From late March 2020 the COVID-19 pandemic had an impact on our business operations. To mitigate our costs we have taken advantage of the Government's Job Retention Scheme.

All amounts included in government grants for the year related to the above.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Freehold Freehold Plant and Motor
property land machinery vehicles Totals
£    £    £    £    £   
COST
At 1 July 2022 207,858 103,929 94,122 70,488 476,397
Additions - - - 42,500 42,500
Disposals - - - (40,412 ) (40,412 )
At 30 June 2023 207,858 103,929 94,122 72,576 478,485
DEPRECIATION
At 1 July 2022 45,728 - 86,860 47,390 179,978
Charge for year 4,157 - 1,453 10,472 16,082
Eliminated on disposal - - - (27,170 ) (27,170 )
At 30 June 2023 49,885 - 88,313 30,692 168,890
NET BOOK VALUE
At 30 June 2023 157,973 103,929 5,809 41,884 309,595
At 30 June 2022 162,130 103,929 7,262 23,098 296,419

5. STOCKS
2023 2022
£    £   
Stocks 12,571 12,571

SHILTON CAST IRON & WELDING LTD (REGISTERED NUMBER: 05486928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 72,802 24,602
Other debtors 100 100
72,902 24,702

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 16,428 1,988
Taxation 22,062 19,216
Paye/Ni payable 104 679
Vat liability 17,393 5,210
Other creditors 544 -
Accrued expenses 3,075 2,833
59,606 29,926