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Company Registration No. 07486797 (England and Wales)
Easy Composites Ltd Unaudited accounts for the year ended 31 January 2023
Easy Composites Ltd Unaudited accounts Contents
Page
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Easy Composites Ltd Company Information for the year ended 31 January 2023
Directors
M J Statham P H Statham
Company Number
07486797 (England and Wales)
Registered Office
Unit 39 Park Hall Business Village Longton Stoke on Trent Staffordshire ST3 5XA
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Easy Composites Ltd Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
1 
1 
Tangible assets
67,291 
22,087 
67,292 
22,088 
Current assets
Inventories
2,224,535 
2,031,302 
Debtors
1,254,201 
1,864,074 
Cash at bank and in hand
5,231,980 
3,819,155 
8,710,716 
7,714,531 
Creditors: amounts falling due within one year
(1,676,704)
(1,328,421)
Net current assets
7,034,012 
6,386,110 
Net assets
7,101,304 
6,408,198 
Capital and reserves
Called up share capital
100 
100 
Share premium
155,000 
155,000 
Profit and loss account
6,946,204 
6,253,098 
Shareholders' funds
7,101,304 
6,408,198 
For the year ending 31 January 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by
M J Statham Director Company Registration No. 07486797
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Easy Composites Ltd Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
Easy Composites Ltd is a private company, limited by shares, registered in England and Wales, registration number 07486797. The registered office is Unit 39 Park Hall Business Village, Longton, Stoke on Trent, Staffordshire, ST3 5XA.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Plant & machinery
15% straight line
Motor vehicles
25% straight line
Fixtures & fittings
15% straight line
Computer equipment
25% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 February 2022
175,000 
At 31 January 2023
175,000 
Amortisation
At 1 February 2022
174,999 
At 31 January 2023
174,999 
Net book value
At 31 January 2023
1 
At 31 January 2022
1 
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Easy Composites Ltd Notes to the Accounts for the year ended 31 January 2023
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 February 2022
77,239 
62,573 
83,924 
93,469 
317,205 
Additions
40,023 
- 
22,676 
11,589 
74,288 
At 31 January 2023
117,262 
62,573 
106,600 
105,058 
391,493 
Depreciation
At 1 February 2022
68,403 
52,106 
81,140 
93,469 
295,118 
Charge for the year
11,392 
10,467 
4,328 
2,897 
29,084 
At 31 January 2023
79,795 
62,573 
85,468 
96,366 
324,202 
Net book value
At 31 January 2023
37,467 
- 
21,132 
8,692 
67,291 
At 31 January 2022
8,836 
10,467 
2,784 
- 
22,087 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,049,924 
1,023,048 
Amounts due from group undertakings etc.
- 
743,358 
Accrued income and prepayments
99,476 
66,608 
Other debtors
104,801 
31,060 
1,254,201 
1,864,074 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
(52,097)
13,810 
Trade creditors
683,427 
613,438 
Amounts owed to group undertakings and other participating interests
543,481 
290,164 
Taxes and social security
105,758 
33,678 
Other creditors
80,661 
96,029 
Loans from directors
307,043 
263,410 
Accruals
8,431 
17,892 
1,676,704 
1,328,421 
8
Controlling party
Easy Composites Group Ltd owns 100% of the issued share capital of the company.
9
Average number of employees
During the year the average number of employees was 25 (2022: 25).
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