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REGISTERED NUMBER: 02503300 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

FIXWELL FASTENERS LIMITED

FIXWELL FASTENERS LIMITED (REGISTERED NUMBER: 02503300)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIXWELL FASTENERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: W Huxtable
B Jones



SECRETARY: Mrs L Forrest



REGISTERED OFFICE: Unit 23
Merthyr Industrial Park
Pentrebach
MERTHYR TYDFIL
Mid Glamorgan
CF48 4DR



REGISTERED NUMBER: 02503300 (England and Wales)



ACCOUNTANTS: Baker Knoyle Chartered Accountants
Orbit Business Centre
Merthyr Tydfil
CF48 1DL



BANKERS: HSBC
50 Perrott Street
Treharris
Mid Glamorgan
CF46 5ET

FIXWELL FASTENERS LIMITED (REGISTERED NUMBER: 02503300)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 89,082 82,295

CURRENT ASSETS
Stocks 119,877 121,495
Debtors 5 217,617 207,164
Cash at bank and in hand 54,618 113,822
392,112 442,481
CREDITORS
Amounts falling due within one year 6 210,625 229,942
NET CURRENT ASSETS 181,487 212,539
TOTAL ASSETS LESS CURRENT
LIABILITIES

270,569

294,834

CREDITORS
Amounts falling due after more than one
year

7

10,650

54,459
NET ASSETS 259,919 240,375

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 259,819 240,275
SHAREHOLDERS' FUNDS 259,919 240,375

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

FIXWELL FASTENERS LIMITED (REGISTERED NUMBER: 02503300)

BALANCE SHEET - continued
30 JUNE 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 2 November 2023 and were signed on its behalf by:





B Jones - Director


FIXWELL FASTENERS LIMITED (REGISTERED NUMBER: 02503300)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Fixwell Fasteners 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.

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.
Plant and machinery - 15% on reducing balance
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 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.

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 7 (2022 - 6 ) .

FIXWELL FASTENERS LIMITED (REGISTERED NUMBER: 02503300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2022 73,283 91,611 164,894
Additions 3,627 138,787 142,414
Disposals - (134,900 ) (134,900 )
At 30 June 2023 76,910 95,498 172,408
DEPRECIATION
At 1 July 2022 60,450 22,149 82,599
Charge for year 2,194 17,775 19,969
Eliminated on disposal - (19,242 ) (19,242 )
At 30 June 2023 62,644 20,682 83,326
NET BOOK VALUE
At 30 June 2023 14,266 74,816 89,082
At 30 June 2022 12,833 69,462 82,295

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 176,711 202,991
Amounts owed by group undertakings 37,672 -
Other debtors 3,234 4,173
217,617 207,164

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 7,604 13,850
Trade creditors 125,100 155,394
Amounts owed to group undertakings 399 -
Taxation and social security 25,483 50,513
Other creditors 52,039 10,185
210,625 229,942

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 10,650 54,459

FIXWELL FASTENERS LIMITED (REGISTERED NUMBER: 02503300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 18,254 68,309

The hire purchase debts are also secured.


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
W Huxtable
Balance outstanding at start of year 1,360 1,360
Amounts repaid (1,360 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,360

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Viper Holdings Limited.