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REGISTERED NUMBER: 10444168 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Surefast Bolting Services Ltd

Surefast Bolting Services Ltd (Registered number: 10444168)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Surefast Bolting Services Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: R Noakes
P Cope





REGISTERED OFFICE: Unit 1 Delta Trading Estate
Bilston Road
Wolverhampton
West Midlands
WV2 2QD





REGISTERED NUMBER: 10444168 (England and Wales)





ACCOUNTANTS: Dalton Pardoe Limited
Chartered Accountants
794 High Street
Kingswinford
West Midlands
DY6 8BQ

Surefast Bolting Services Ltd (Registered number: 10444168)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,362,223 395,189

CURRENT ASSETS
Stocks 32,750 27,450
Debtors 5 747,277 350,947
Cash at bank 57,552 233,376
837,579 611,773
CREDITORS
Amounts falling due within one year 6 1,250,129 576,895
NET CURRENT (LIABILITIES)/ASSETS (412,550 ) 34,878
TOTAL ASSETS LESS CURRENT
LIABILITIES

949,673

430,067

CREDITORS
Amounts falling due after more than one
year

7

(912,547

)

(345,197

)

PROVISIONS FOR LIABILITIES - (75,086 )
NET ASSETS 37,126 9,784

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 37,026 9,684
SHAREHOLDERS' FUNDS 37,126 9,784

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Surefast Bolting Services Ltd (Registered number: 10444168)

Balance Sheet - continued
31 August 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:





P Cope - Director


Surefast Bolting Services Ltd (Registered number: 10444168)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Surefast Bolting Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - in accordance with the property
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 50% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Surefast Bolting Services Ltd (Registered number: 10444168)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 27 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2022 3,300 571,092 566
Additions - 1,132,832 -
At 31 August 2023 3,300 1,703,924 566
DEPRECIATION
At 1 September 2022 132 185,002 142
Charge for year 132 176,693 106
At 31 August 2023 264 361,695 248
NET BOOK VALUE
At 31 August 2023 3,036 1,342,229 318
At 31 August 2022 3,168 386,090 424

Surefast Bolting Services Ltd (Registered number: 10444168)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2022 6,500 5,170 586,628
Additions 15,950 2,021 1,150,803
At 31 August 2023 22,450 7,191 1,737,431
DEPRECIATION
At 1 September 2022 2,844 3,319 191,439
Charge for year 4,902 1,936 183,769
At 31 August 2023 7,746 5,255 375,208
NET BOOK VALUE
At 31 August 2023 14,704 1,936 1,362,223
At 31 August 2022 3,656 1,851 395,189

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2022 476,194 - 476,194
Additions 1,132,832 15,950 1,148,782
At 31 August 2023 1,609,026 15,950 1,624,976
DEPRECIATION
At 1 September 2022 136,449 - 136,449
Charge for year 170,460 3,988 174,448
At 31 August 2023 306,909 3,988 310,897
NET BOOK VALUE
At 31 August 2023 1,302,117 11,962 1,314,079
At 31 August 2022 339,745 - 339,745

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 705,628 315,620
Amounts owed by associates 23,349 23,249
Other debtors 7,712 7,712
Directors' current accounts 5,932 -
Prepayments and accrued income 4,656 4,366
747,277 350,947

Surefast Bolting Services Ltd (Registered number: 10444168)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 28,333 38,333
Other loans 35,000 35,000
Hire purchase contracts (see note 8) 390,021 86,238
Trade creditors 157,457 87,732
Tax - 376
Social security and other taxes 19,467 15,603
VAT 143,246 146,234
Other creditors 473,632 162,304
Directors' current accounts - 2,702
Accrued expenses 2,973 2,373
1,250,129 576,895

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Other loans - 1-2 years 35,000 35,000
Other loans - 2-5 years 90,417 105,000
Other loans more 5yrs instal - 20,417
Hire purchase contracts (see note 8) 787,130 184,780
912,547 345,197

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal - 20,417

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.8.23 31.8.22
£    £   
Net obligations repayable:
Within one year 390,021 86,238
Between one and five years 787,130 184,780
1,177,151 271,018

Surefast Bolting Services Ltd (Registered number: 10444168)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Hire purchase contracts 1,156,767 271,018
Factoring 473,632 162,304
1,630,399 433,322

Hire purchase liabilities are secured over the assets to which they relate.

The liability to the factoring company is secured over the company's trade debtors.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Retained
earnings
£   

At 1 September 2022 9,684
Profit for the year 125,342
Dividends (98,000 )
At 31 August 2023 37,026

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the two directors who each hold 50% of the company's issue share capital.