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REGISTERED NUMBER: 01014222 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Southcroft Engineering Co.Limited

Southcroft Engineering Co.Limited (Registered number: 01014222)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Chartered Accountants' Report 3

Balance Sheet 4

Notes to the Financial Statements 6


Southcroft Engineering Co.Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mr P M Thorpe
Mr N J Thorpe
Mr R Thorpe
Mrs J K Thorpe



SECRETARY: Mr P M Thorpe



REGISTERED OFFICE: Queen Street Chambers
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BUSINESS ADDRESS: Thurcroft Industrial Estate
New Orchard Road
Thurcroft
Rotherham
South Yorkshire
S66 9HY



REGISTERED NUMBER: 01014222 (England and Wales)



ACCOUNTANTS: Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BANKERS: Virgin Money
66 Fargate
Sheffield
South Yorkshire
S1 2HE




Southcroft Engineering Co.Limited

Company Information
for the Year Ended 30 June 2023







SOLICITORS: Wosskow Brown
Banners Building
620 Attercliffe Road
Sheffield
S9 3QS

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Southcroft Engineering Co.Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Southcroft Engineering Co.Limited for the year ended 30 June 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Southcroft Engineering Co.Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Southcroft Engineering Co.Limited and state those matters that we have agreed to state to the Board of Directors of Southcroft Engineering Co.Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Southcroft Engineering Co.Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Southcroft Engineering Co.Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Southcroft Engineering Co.Limited. You consider that Southcroft Engineering Co.Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Southcroft Engineering Co.Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR


7 November 2023

Southcroft Engineering Co.Limited (Registered number: 01014222)

Balance Sheet
30 June 2023

30/6/23 30/6/22
Notes £    £   
FIXED ASSETS
Tangible assets 4 28,064 32,780
Investments 5 2 2
28,066 32,782

CURRENT ASSETS
Stocks 57,180 52,548
Debtors 6 82,711 128,246
Cash at bank and in hand 365,834 330,493
505,725 511,287
CREDITORS
Amounts falling due within one year 7 (229,618 ) (237,811 )
NET CURRENT ASSETS 276,107 273,476
TOTAL ASSETS LESS CURRENT LIABILITIES 304,173 306,258

PROVISIONS FOR LIABILITIES (5,731 ) (6,360 )
NET ASSETS 298,442 299,898

CAPITAL AND RESERVES
Called up share capital 1,320 1,320
Retained earnings 297,122 298,578
298,442 299,898

Southcroft Engineering Co.Limited (Registered number: 01014222)

Balance Sheet - continued
30 June 2023


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.

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 26 October 2023 and were signed on its behalf by:





Mr R Thorpe - Director


Southcroft Engineering Co.Limited (Registered number: 01014222)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

Southcroft Engineering Co.Limited 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are initially measured at cost. Subsequently, they are measured at cost less accumulated depreciation and impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.


Southcroft Engineering Co.Limited (Registered number: 01014222)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Grant income
Government grants relating to revenue expenditure are recognised in income on a systematic basis over the period in which the company recognises the related costs for which the grant is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

Southcroft Engineering Co.Limited (Registered number: 01014222)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2022 9,493 166,962 60,619 49,054 286,128
Disposals - - - (12,774 ) (12,774 )
At 30 June 2023 9,493 166,962 60,619 36,280 273,354
DEPRECIATION
At 1 July 2022 5,529 147,994 54,803 45,022 253,348
Charge for year 190 1,897 1,081 858 4,026
Eliminated on disposal - - - (12,084 ) (12,084 )
At 30 June 2023 5,719 149,891 55,884 33,796 245,290
NET BOOK VALUE
At 30 June 2023 3,774 17,071 4,735 2,484 28,064
At 30 June 2022 3,964 18,968 5,816 4,032 32,780

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2022
and 30 June 2023 2
NET BOOK VALUE
At 30 June 2023 2
At 30 June 2022 2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Meden Stainless Equipment Limited
Registered office: 68 Queen Street, Sheffield, S1 1WR, England
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
30/6/23 30/6/22
£    £   
Aggregate capital and reserves 2 2

Southcroft Engineering Co.Limited (Registered number: 01014222)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade debtors 65,566 111,914
Other debtors 17,145 16,332
82,711 128,246

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade creditors 36,514 42,679
Amounts owed to group undertakings 2 2
Taxation and social security 33,016 46,863
Other creditors 160,086 148,267
229,618 237,811

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30/6/23 30/6/22
£    £   
Within one year 25,000 25,000