Company registration number 09629197 (England and Wales)
Powder Coaters Sowerby Bridge Limited
Unaudited
financial statements
for the year ended 30 September 2023
PAGES FOR FILING WITH REGISTRAR
Powder Coaters Sowerby Bridge Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Powder Coaters Sowerby Bridge Limited
Statement of financial position
as at 30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
22,653
19,254
Current assets
Stocks
1,760
2,000
Cash at bank and in hand
30,049
19,464
31,809
21,464
Creditors: amounts falling due within one year
(43,703)
(27,471)
Net current liabilities
(11,894)
(6,007)
Total assets less current liabilities
10,759
13,247
Creditors: amounts falling due after more than one year
(4,167)
(8,000)
Net assets
6,592
5,247
Capital and reserves
Called up share capital
4
10
10
Profit and loss reserves
6,582
5,237
Total equity
6,592
5,247
Powder Coaters Sowerby Bridge Limited
Statement of financial position (continued)
as at 30 September 2023
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 3 November 2023
D Goodyear
Director
Company registration number 09629197 (England and Wales)
Powder Coaters Sowerby Bridge Limited
Notes to the financial statements
for the year ended 30 September 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration received for services provided in the normal course of business, and is shown net of VAT. Turnover is recognised upon provision of services.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and machinery
20% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Government grants
Government grants are recognised at the fair value of the asset received when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Powder Coaters Sowerby Bridge Limited
Notes to the financial statements (continued)
for the year ended 30 September 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 October 2022
54,772
5,000
59,772
Additions
7,500
7,500
At 30 September 2023
62,272
5,000
67,272
Depreciation and impairment
At 1 October 2022
37,358
3,160
40,518
Depreciation charged in the year
3,733
368
4,101
At 30 September 2023
41,091
3,528
44,619
Carrying amount
At 30 September 2023
21,181
1,472
22,653
At 30 September 2022
17,414
1,840
19,254
4
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10
10
10
10
5
Company information
Powder Coaters Sowerby Bridge Limited is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.