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REGISTERED NUMBER: 04721832 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Filterite Limited

Filterite Limited (Registered number: 04721832)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Filterite Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: R C Jones
Mrs R Jones
Mrs R L Read
Mrs A C Jones-Nall





SECRETARY: Mrs R L Read





REGISTERED OFFICE: 1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL





REGISTERED NUMBER: 04721832 (England and Wales)





ACCOUNTANTS: Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL

Filterite Limited (Registered number: 04721832)

Abridged Statement of Financial Position
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 123,959 185,557
Investments 6 1,791,532 1,407,460
1,915,491 1,593,017

CURRENT ASSETS
Stocks 7,411 7,232
Debtors 341,468 408,885
Cash at bank 1,323,710 1,242,752
1,672,589 1,658,869
CREDITORS
Amounts falling due within one year 437,110 518,185
NET CURRENT ASSETS 1,235,479 1,140,684
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,150,970

2,733,701

PROVISIONS FOR LIABILITIES 291,734 210,840
NET ASSETS 2,859,236 2,522,861

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,858,236 2,521,861
SHAREHOLDERS' FUNDS 2,859,236 2,522,861

Filterite Limited (Registered number: 04721832)

Abridged Statement of Financial Position - continued
31 October 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 29 February 2024 and were signed on its behalf by:




R C Jones - Director



Mrs R Jones - Director


Filterite Limited (Registered number: 04721832)

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

1. STATUTORY INFORMATION

Filterite 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.

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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2003, has been amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 33% on reducing balance
Office equipment - 33% on reducing balance
Plant & equipment - 10% on cost
Motor vehicles - 25% 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 statement of financial position date.


Filterite Limited (Registered number: 04721832)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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 statement of financial position 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.

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.

Investments
Investments are held in managed funds and are show at their year end valuation as provided by the fund managers. Any gains/losses arising from changes in market value are shown as revaluation reserve movements unless realised during the year.

Operating lease
The relevant annual rentals are charged to the profit and loss account on a straight line basis over the lease term, unless they relate to vacant leasehold properties, in which case provision is made on a discounted basis for the net obligation under the lease. The unwinding of the discount is disclosed within interest payable and similar charges.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022
and 31 October 2023 125,000
AMORTISATION
At 1 November 2022
and 31 October 2023 125,000
NET BOOK VALUE

At 31 October 2023 -
At 31 October 2022 -

Filterite Limited (Registered number: 04721832)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022 410,841
Disposals (62,535 )
At 31 October 2023 348,306
DEPRECIATION
At 1 November 2022 225,284
Charge for year 37,755
Eliminated on disposal (38,692 )
At 31 October 2023 224,347
NET BOOK VALUE
At 31 October 2023 123,959
At 31 October 2022 185,557

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 November 2022 1,407,460
Revaluations 384,072
At 31 October 2023 1,791,532
NET BOOK VALUE
At 31 October 2023 1,791,532
At 31 October 2022 1,407,460

Filterite Limited (Registered number: 04721832)

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

6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 October 2023 is represented by:
Totals
£   
Valuation in 2014 216,301
Valuation in 2015 31,030
Valuation in 2016 132,422
Valuation in 2017 88,332
Valuation in 2018 81,884
Valuation in 2019 75,573
Valuation in 2020 31,596
Valuation in 2021 262,183
Valuation in 2022 (45,060 )
Valuation in 2023 384,072
Cost 533,199
1,791,532

If investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 533,199 533,199

Fixed asset investments were valued on an open market basis on 31 October 2023 by the investment portfolio managers .

Investments are held in managed funds.

7. CONTINGENT LIABILITIES

There were no material contingent liabilities at the period end.

8. POST BALANCE SHEET EVENTS

There are no material post balance sheet events.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Filterite Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Filterite Limited for the year ended 31 October 2023 which comprise the Abridged Income Statement, Abridged Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Filterite Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Filterite Limited and state those matters that we have agreed to state to the Board of Directors of Filterite Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Filterite Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Filterite Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Filterite Limited. You consider that Filterite Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Filterite Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL


29 February 2024