12 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 03641502 2022-04-01 2023-03-31 03641502 2023-03-31 03641502 2022-03-31 03641502 2021-04-01 2022-03-31 03641502 2022-03-31 03641502 2021-03-31 03641502 core:PlantMachinery 2022-04-01 2023-03-31 03641502 core:MotorVehicles 2022-04-01 2023-03-31 03641502 bus:RegisteredOffice 2022-04-01 2023-03-31 03641502 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 03641502 bus:Director1 2022-04-01 2023-03-31 03641502 bus:Director2 2022-04-01 2023-03-31 03641502 bus:Director3 2022-04-01 2023-03-31 03641502 bus:Director4 2022-04-01 2023-03-31 03641502 bus:CompanySecretary1 2022-04-01 2023-03-31 03641502 core:PlantMachinery 2022-03-31 03641502 core:FurnitureFittingsToolsEquipment 2022-03-31 03641502 core:MotorVehicles 2022-03-31 03641502 core:PlantMachinery 2023-03-31 03641502 core:FurnitureFittingsToolsEquipment 2023-03-31 03641502 core:MotorVehicles 2023-03-31 03641502 core:WithinOneYear 2023-03-31 03641502 core:WithinOneYear 2022-03-31 03641502 core:AfterOneYear 2023-03-31 03641502 core:AfterOneYear 2022-03-31 03641502 core:ShareCapital 2023-03-31 03641502 core:ShareCapital 2022-03-31 03641502 core:RetainedEarningsAccumulatedLosses 2023-03-31 03641502 core:RetainedEarningsAccumulatedLosses 2022-03-31 03641502 core:PlantMachinery 2022-03-31 03641502 core:MotorVehicles 2022-03-31 03641502 bus:Director2 2022-03-31 03641502 bus:Director1 2021-03-31 03641502 bus:Director2 2021-03-31 03641502 bus:Director2 2022-03-31 03641502 bus:Director1 2021-04-01 2022-03-31 03641502 bus:Director2 2021-04-01 2022-03-31 03641502 bus:SmallEntities 2022-04-01 2023-03-31 03641502 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 03641502 bus:FullAccounts 2022-04-01 2023-03-31 03641502 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 03641502 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03641502 core:WithinOneYear 2022-04-01 2023-03-31 03641502 core:AfterOneYear 2022-04-01 2023-03-31 03641502 1 2022-04-01 2023-03-31
Company registration number: 03641502
S K S Engineering & Machine Services Ltd
Unaudited filleted financial statements
31 March 2023
S K S Engineering & Machine Services Ltd
Directors and other information
Directors Mr J D Thompson
Mr P Howarth
Mr A Howarth
Mr G Thompson
Secretary Mr J D Thompson
Company number 03641502
Registered office Heritage Exchange
South Lane
Elland
HX5 0HG
Business address Unit 12A
Holmfield Mills
Holdsworth Road
Halifax
HX3 6SN
Accountants Hodgson Hey Limited
Heritage Exchange
South Lane
Elland
HX5 0HG
Bankers National Westminster Bank Plc
8 Market Place
Huddersfield
HD1 2AL
S K S Engineering & Machine Services Ltd
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 21,254 28,338
_______ _______
21,254 28,338
Current assets
Stocks 2,856 2,462
Debtors 6 259,097 252,181
Cash at bank and in hand 46 46
_______ _______
261,999 254,689
Creditors: amounts falling due
within one year 7 ( 210,095) ( 199,411)
_______ _______
Net current assets 51,904 55,278
_______ _______
Total assets less current liabilities 73,158 83,616
Creditors: amounts falling due
after more than one year 8 ( 47,420) ( 77,228)
Provisions for liabilities ( 4,038) ( 5,384)
_______ _______
Net assets 21,700 1,004
_______ _______
Capital and reserves
Called up share capital 106 106
Profit and loss account 21,594 898
_______ _______
Shareholders funds 21,700 1,004
_______ _______
For the year 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 04 September 2023 , and are signed on behalf of the board by:
Mr P Howarth
Director
Company registration number: 03641502
S K S Engineering & Machine Services Ltd
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is SKS Engineering & Machine Services Limited, Heritage Exchange, South Lane, Elland, HX5 0HG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and net realisable value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2022: 15 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 and 31 March 2023 55,585 6,820 48,523 110,928
_______ _______ _______ _______
Depreciation
At 1 April 2022 49,993 6,820 25,777 82,590
Charge for the year 1,398 - 5,686 7,084
_______ _______ _______ _______
At 31 March 2023 51,391 6,820 31,463 89,674
_______ _______ _______ _______
Carrying amount
At 31 March 2023 4,194 - 17,060 21,254
_______ _______ _______ _______
At 31 March 2022 5,592 - 22,746 28,338
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 219,174 201,990
Other debtors 39,923 50,191
_______ _______
259,097 252,181
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 65,766 65,219
Trade creditors 50,822 43,769
Corporation tax 9,487 3,461
Social security and other taxes 49,371 53,717
Other creditors 34,649 33,245
_______ _______
210,095 199,411
_______ _______
The bank overdraft is secured by personal guarantees of the directors and against the company's book debt.
Other creditors include £9,809 which is secured on the assets to which it relates.
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 43,333 63,333
Other creditors 4,087 13,895
_______ _______
47,420 77,228
_______ _______
Other creditors are secured on the assets to which they relate.
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr J D Thompson - 9,008 ( 9,008) -
Mr P Howarth 22,800 ( 9,140) ( 13,660) -
_______ _______ _______ _______
22,800 ( 132) ( 22,668) -
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr J D Thompson 27,482 ( 2,170) ( 25,312) -
Mr P Howarth 27,482 20,630 ( 25,312) 22,800
_______ _______ _______ _______
54,964 18,460 ( 50,624) 22,800
_______ _______ _______ _______
10. Controlling party
The company was controlled throughout the year by the directors and their immediate family, who between them own 100% of the issued ordinary share capital.