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
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
Easy Composites Ltd
Statement of financial position
as at 31 January 2023
Tangible assets
67,291
22,087
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
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
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
Easy Composites Ltd
Notes to the Accounts
for the year ended 31 January 2023
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.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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Intangible fixed assets
Goodwill
At 1 February 2022
175,000
At 31 January 2023
175,000
At 1 February 2022
174,999
At 31 January 2023
174,999
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
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
At 31 January 2023
37,467
-
21,132
8,692
67,291
At 31 January 2022
8,836
10,467
2,784
-
22,087
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
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Creditors: amounts falling due within one year
2023
2022
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
Easy Composites Group Ltd owns 100% of the issued share capital of the company.
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Average number of employees
During the year the average number of employees was 25 (2022: 25).