Registered number
04672856
SURFACE SOLUTIONS GROUP LTD
Filleted Accounts
30 April 2023
SURFACE SOLUTIONS GROUP LTD
Registered number: 04672856
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 70,032 55,505
Current assets
Debtors 5 46,713 8,992
Cash at bank and in hand 70,023 50,294
116,736 59,286
Creditors: amounts falling due within one year 6 (106,119) (27,731)
Net current assets 10,617 31,555
Total assets less current liabilities 80,649 87,060
Creditors: amounts falling due after more than one year 7 (66,887) (85,953)
Net assets 13,762 1,107
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 12,762 107
Shareholders' funds 13,762 1,107
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C. Hallett
Director
Approved by the board on 22 September 2023
SURFACE SOLUTIONS GROUP LTD
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Motor vehicles 15% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2022 10,000
At 30 April 2023 10,000
Amortisation
At 1 May 2022 10,000
At 30 April 2023 10,000
Net book value
At 30 April 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 May 2022 72,420 43,650 116,070
Additions 26,885 - 26,885
At 30 April 2023 99,305 43,650 142,955
Depreciation
At 1 May 2022 38,149 22,416 60,565
Charge for the year 9,173 3,185 12,358
At 30 April 2023 47,322 25,601 72,923
Net book value
At 30 April 2023 51,983 18,049 70,032
At 30 April 2022 34,271 21,234 55,505
5 Debtors 2023 2022
£ £
Trade debtors 46,713 8,992
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 21,692 -
Obligations under finance lease and hire purchase contracts 15,351 11,347
Trade creditors 7,445 1,617
Directors loan account 22,510 5,084
Corporation Tax 20,919 (8,624)
Taxation and social security costs 5,770 30
Value Added Tax (188) 12,802
Other creditors 12,620 5,475
106,119 27,731
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 58,083 75,083
Obligations under finance lease and hire purchase contracts 8,804 10,870
66,887 85,953
8 Other information
SURFACE SOLUTIONS GROUP LTD is a private company limited by shares and incorporated in England.
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