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REGISTERED NUMBER: 08961897 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

COVENTRY METALCRAFT LIMITED

COVENTRY METALCRAFT LIMITED (REGISTERED NUMBER: 08961897)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COVENTRY METALCRAFT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr B J O'Toole





REGISTERED OFFICE: Unit 5-6 Key Park,
Bayton Road
Coventry
Warwickshire
CV7 9EL





REGISTERED NUMBER: 08961897 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

COVENTRY METALCRAFT LIMITED (REGISTERED NUMBER: 08961897)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 266,426 275,478

CURRENT ASSETS
Stocks 200,000 611,800
Debtors 5 852,980 1,080,194
Cash at bank 53,650 104,411
1,106,630 1,796,405
CREDITORS
Amounts falling due within one year 6 1,191,169 1,345,487
NET CURRENT (LIABILITIES)/ASSETS (84,539 ) 450,918
TOTAL ASSETS LESS CURRENT
LIABILITIES

181,887

726,396

CREDITORS
Amounts falling due after more than one
year

7

139,777

220,414
NET ASSETS 42,110 505,982

CAPITAL AND RESERVES
Called up and paid share capital 1 1
Retained earnings 42,109 505,981
42,110 505,982

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

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

The director acknowledges his 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.

COVENTRY METALCRAFT LIMITED (REGISTERED NUMBER: 08961897)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 March 2024 and were signed by:





Mr B J O'Toole - Director


COVENTRY METALCRAFT LIMITED (REGISTERED NUMBER: 08961897)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Coventry Metalcraft Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


COVENTRY METALCRAFT LIMITED (REGISTERED NUMBER: 08961897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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 50 (2022 - 30 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 249,944 103,871 27,491
Additions 15,704 30,498 700
At 31 December 2023 265,648 134,369 28,191
DEPRECIATION
At 1 January 2023 67,523 34,633 22,019
Charge for year 27,890 25,286 (2,034 )
At 31 December 2023 95,413 59,919 19,985
NET BOOK VALUE
At 31 December 2023 170,235 74,450 8,206
At 31 December 2022 182,421 69,238 5,472

COVENTRY METALCRAFT LIMITED (REGISTERED NUMBER: 08961897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 17,795 26,462 425,563
Additions - 3,752 50,654
At 31 December 2023 17,795 30,214 476,217
DEPRECIATION
At 1 January 2023 4,801 21,109 150,085
Charge for year 3,882 4,682 59,706
At 31 December 2023 8,683 25,791 209,791
NET BOOK VALUE
At 31 December 2023 9,112 4,423 266,426
At 31 December 2022 12,994 5,353 275,478

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 209,138 448,923
Other debtors 113,151 113,151
Directors' current accounts 15,539 -
Tax 461,527 449,150
Prepayments and accrued income 53,625 68,970
852,980 1,080,194

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 32,362 32,362
Other loans 49,383 49,383
Hire purchase contracts 16,322 26,259
Trade creditors 242,523 358,515
Social security and other taxes 139,170 185,210
VAT 334,366 409,218
Other creditors 35,090 35,653
Directors' current accounts - 161,367
Accruals and deferred income 341,953 87,520
1,191,169 1,345,487

COVENTRY METALCRAFT LIMITED (REGISTERED NUMBER: 08961897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 35,059 67,421
Other loans 82,304 131,687
Hire purchase contracts 22,414 21,306
139,777 220,414

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 131,687 181,070
Hire purchase contracts 38,736 47,565
170,423 228,635

Other loans are secured by way of a fixed and floating charge over all the property or undertaking of the company.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director operated a loan with the company with no fixed terms of repayment or interest. Amounts advanced during the year were £15,539 (2022 - £nil) and repayments during the year were £nil (2022 - £nil). At the year end the amount owing to the company was £15,539 (2022 - £nil).