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Registration number: 08259643

Carysil Brassware Limited

Unaudited Financial Statements

for the Period from 1 November 2021 to 31 March 2023

 

Carysil Brassware Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Carysil Brassware Limited

(Registration number: 08259643)
Balance Sheet as at 31 March 2023

Note

2023
£

2021
£

Fixed assets

 

Tangible assets

4

60,456

92,554

Current assets

 

Stocks

5

391,019

398,472

Debtors

6

129,982

267,374

Cash at bank and in hand

 

270,664

33,344

 

791,665

699,190

Creditors: Amounts falling due within one year

7

(205,453)

(209,526)

Net current assets

 

586,212

489,664

Total assets less current liabilities

 

646,668

582,218

Creditors: Amounts falling due after more than one year

7

(94,099)

(167,112)

Provisions for liabilities

(15,113)

(23,138)

Net assets

 

537,456

391,968

Capital and reserves

 

Called up share capital

100

100

Retained earnings

537,356

391,868

Shareholders' funds

 

537,456

391,968

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

Mr M J Smyth
Director

   
     
 

Carysil Brassware Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2021 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
20 Whitcliffe Road
Cleckheaton
BD19 3NU
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Carysil Brassware Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2021 to 31 March 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

15% Reducing balance

Motor vehicles

25% Reducing balance

Other tangible assets

25% Reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 9 (2021 - 8).

 

Carysil Brassware Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2021 to 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2021

32,304

82,970

23,383

138,657

Additions

2,246

-

504

2,750

Disposals

-

-

(8,628)

(8,628)

At 31 March 2023

34,550

82,970

15,259

132,779

Depreciation

At 1 November 2021

11,694

20,353

14,056

46,103

Charge for the period

8,763

20,546

2,643

31,952

Eliminated on disposal

-

-

(5,732)

(5,732)

At 31 March 2023

20,457

40,899

10,967

72,323

Carrying amount

At 31 March 2023

14,093

42,071

4,292

60,456

At 31 October 2021

20,610

62,617

9,327

92,554

5

Stocks

2023
£

2021
£

Stocks

391,019

398,472

6

Debtors

Current

2023
£

2021
£

Trade debtors

124,113

265,391

Prepayments

5,869

1,031

Other debtors

-

952

 

129,982

267,374

 

Carysil Brassware Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2021 to 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2021
£

Due within one year

 

Loans and borrowings

8

70,643

55,019

Trade creditors

 

27,147

88,857

Taxation and social security

 

98,045

31,556

Accruals

 

4,407

2,835

Other creditors

 

5,211

31,259

 

205,453

209,526

2023
£

2021
£

Current loans and borrowings

Bank borrowings

55,356

47,508

HP and finance lease liabilities

15,287

7,511

70,643

55,019

Creditors: amounts falling due after more than one year

Note

2023
£

2021
£

Due after one year

 

Loans and borrowings

8

94,099

167,112

 

Carysil Brassware Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2021 to 31 March 2023

8

Loans and borrowings

2023
£

2021
£

Non-current loans and borrowings

Bank borrowings

73,356

148,333

Hire purchase contracts

20,743

18,779

94,099

167,112

2023
£

2021
£

Current loans and borrowings

Bank borrowings

55,356

47,508

Hire purchase contracts

15,287

7,511

70,643

55,019