Company Registration No. 07926469 (England and Wales)
Sticky Baits Ltd
Unaudited accounts
for the year ended 31 January 2023
Sticky Baits Ltd
Unaudited accounts
Contents
Sticky Baits Ltd
Company Information
for the year ended 31 January 2023
Director
Thomas James Anderson
Company Number
07926469 (England and Wales)
Registered Office
Unit 2 North Lynton
Main Road, Newland
Goole
East Yorkshire
DN14 7XF
United Kingdom
Sticky Baits Ltd
Statement of financial position
as at 31 January 2023
Tangible assets
1,663,612
1,000,394
Inventories
1,449,655
1,296,029
Debtors
1,606,611
1,782,337
Cash at bank and in hand
80,263
714,711
Creditors: amounts falling due within one year
(453,950)
(530,059)
Net current assets
2,682,579
3,263,018
Total assets less current liabilities
4,346,191
4,263,412
Provisions for liabilities
Deferred tax
(82,520)
(88,958)
Net assets
4,263,671
4,174,454
Called up share capital
10,000
10,000
Profit and loss account
4,253,671
4,164,454
Shareholders' funds
4,263,671
4,174,454
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 January 2024 and were signed on its behalf by
Thomas James Anderson
Director
Company Registration No. 07926469
Sticky Baits Ltd
Notes to the Accounts
for the year ended 31 January 2023
Sticky Baits Ltd is a private company, limited by shares, registered in England and Wales, registration number 07926469. The registered office is Unit 2 North Lynton, Main Road, Newland, Goole, East Yorkshire, DN14 7XF, United Kingdom.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
(Improvements to property) - 10% and 20% on cost
Plant & machinery
- 20% on reducing balance
Motor vehicles
- 33% on reducing balance
Fixtures & fittings
- 15% on reducing balance
Computer equipment
- 50% on reducing balance
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Sticky Baits Ltd
Notes to the Accounts
for the year ended 31 January 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 February 2022
667,308
725,170
129,022
117,248
182,330
1,821,078
Additions
766,831
35,442
52,995
150
21,508
876,926
Disposals
-
-
(55,000)
-
-
(55,000)
At 31 January 2023
1,434,139
760,612
127,017
117,398
203,838
2,643,004
At 1 February 2022
163,495
381,296
77,038
54,922
143,933
820,684
Charge for the year
66,733
70,210
18,650
9,372
23,050
188,015
On disposals
-
-
(29,307)
-
-
(29,307)
At 31 January 2023
230,228
451,506
66,381
64,294
166,983
979,392
At 31 January 2023
1,203,911
309,106
60,636
53,104
36,855
1,663,612
At 31 January 2022
503,813
343,874
51,984
62,326
38,397
1,000,394
Amounts falling due within one year
Trade debtors
434,247
463,829
Accrued income and prepayments
70,454
107,807
Other debtors
75,763
421,530
Amounts falling due after more than one year
Other debtors
1,026,147
789,171
Sticky Baits Ltd
Notes to the Accounts
for the year ended 31 January 2023
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
151,683
153,449
Taxes and social security
41,732
211,731
Other creditors
2,906
11,088
7
Operating lease commitments
2023
2022
At 31 January 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
97,500
97,500
Later than one year and not later than five years
390,000
390,000
Later than five years
136,875
234,375
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Advances, Credits and Guarantees
307,611
43,873
312,420
39,064
307,611
43,873
312,420
39,064
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Average number of employees
During the year the average number of employees was 30 (2022: 31).