Company registration number 05602773 (England and Wales)
ACME METAL SPINNING & BEDALE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
ACME METAL SPINNING & BEDALE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ACME METAL SPINNING & BEDALE LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
3,819
5,094
Current assets
Stocks
6,272
6,669
Debtors
5
45,021
47,463
Cash at bank and in hand
82,208
84,703
133,501
138,835
Creditors: amounts falling due within one year
6
(81,297)
(93,218)
Net current assets
52,204
45,617
Net assets
56,023
50,711
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
55,923
50,611
Total equity
56,023
50,711

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 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 member has 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 31 October 2023
Paul Davis
Director
Company Registration No. 05602773
ACME METAL SPINNING & BEDALE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information

Acme Metal Spinning & Bedale Limited is a private company limited by shares incorporated in England and Wales. The registered office is 38 Fisher Road, Oldbury, West Midlands, B69 4EL.

1.1
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. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% Reducing balance
Fixtures, fittings & equipment
25% 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.

1.4
Stocks

Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

1.5
Financial instruments

The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.

Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

 

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

 

ACME METAL SPINNING & BEDALE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
5
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2022 and 30 June 2023
200,000
Amortisation and impairment
At 1 July 2022 and 30 June 2023
200,000
Carrying amount
At 30 June 2023
-
0
At 30 June 2022
-
0
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 and 30 June 2023
50,366
Depreciation and impairment
At 1 July 2022
45,272
Depreciation charged in the year
1,275
At 30 June 2023
46,547
Carrying amount
At 30 June 2023
3,819
At 30 June 2022
5,094
ACME METAL SPINNING & BEDALE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
43,783
46,297
Other debtors
1,238
1,166
45,021
47,463
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
6,809
7,923
Corporation tax
2,014
4,202
Other taxation and social security
6,916
4,650
Other creditors
65,558
76,443
81,297
93,218
2023-06-302022-07-01false31 October 2023CCH SoftwareCCH Accounts Production 2022.200No description of principal activityMr P Davis056027732022-07-012023-06-30056027732023-06-30056027732022-06-3005602773core:OtherPropertyPlantEquipment2023-06-3005602773core:OtherPropertyPlantEquipment2022-06-3005602773core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3005602773core:CurrentFinancialInstrumentscore:WithinOneYear2022-06-3005602773core:CurrentFinancialInstruments2023-06-3005602773core:CurrentFinancialInstruments2022-06-3005602773core:ShareCapital2023-06-3005602773core:ShareCapital2022-06-3005602773core:RetainedEarningsAccumulatedLosses2023-06-3005602773core:RetainedEarningsAccumulatedLosses2022-06-3005602773bus:Director12022-07-012023-06-3005602773core:PlantMachinery2022-07-012023-06-3005602773core:FurnitureFittings2022-07-012023-06-3005602773core:MotorVehicles2022-07-012023-06-30056027732021-07-012022-06-3005602773core:NetGoodwill2022-06-3005602773core:NetGoodwill2023-06-3005602773core:NetGoodwill2022-06-3005602773core:OtherPropertyPlantEquipment2022-06-3005602773core:OtherPropertyPlantEquipment2022-07-012023-06-3005602773core:WithinOneYear2023-06-3005602773core:WithinOneYear2022-06-3005602773bus:PrivateLimitedCompanyLtd2022-07-012023-06-3005602773bus:SmallCompaniesRegimeForAccounts2022-07-012023-06-3005602773bus:FRS1022022-07-012023-06-3005602773bus:AuditExemptWithAccountantsReport2022-07-012023-06-3005602773bus:FullAccounts2022-07-012023-06-30xbrli:purexbrli:sharesiso4217:GBP