Registered number
08031785
Huddersfield Sheet Metal Ltd
Filleted Accounts
30 April 2023
Huddersfield Sheet Metal Ltd
Registered number: 08031785
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 16,239 26,389
Current assets
Stocks 7,000 7,000
Debtors 4 84,018 103,105
Cash at bank and in hand 49,601 23,110
140,619 133,215
Creditors: amounts falling due within one year 5 (95,392) (121,832)
Net current assets 45,227 11,383
Total assets less current liabilities 61,466 37,772
Creditors: amounts falling due after more than one year 6 (22,598) (32,594)
Provisions for liabilities (2,237) (5,014)
Net assets 36,631 164
Capital and reserves
Called up share capital 100 100
Profit and loss account 36,531 64
Shareholders' funds 36,631 164
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Foster
Director
Approved by the board on 27 September 2023
Huddersfield Sheet Metal Ltd
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Motor vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2022 74,021 11,160 85,181
Additions 2,395 - 2,395
At 30 April 2023 76,416 11,160 87,576
Depreciation
At 1 May 2022 54,328 4,464 58,792
Charge for the year 10,313 2,232 12,545
At 30 April 2023 64,641 6,696 71,337
Net book value
At 30 April 2023 11,775 4,464 16,239
At 30 April 2022 19,693 6,696 26,389
4 Debtors 2023 2022
£ £
Trade debtors 81,872 101,430
Other debtors 2,146 1,675
84,018 103,105
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,996 9,996
Trade creditors 28,670 61,232
Taxation and social security costs 50,517 28,270
Other creditors 6,209 22,334
95,392 121,832
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 22,598 32,594
7 Controlling party
The ultimate controlling party is the Directors.
8 Other information
Huddersfield Sheet Metal Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 11 Bath Mills
Albert Street
Lockwood
HD1 3PY
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