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REGISTERED NUMBER: 06718947 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

The Stourbridge Mirror Company Limited

The Stourbridge Mirror Company Limited (Registered number: 06718947)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Stourbridge Mirror Company Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: R J Perry
R A Westwood





SECRETARY: R J Perry





REGISTERED OFFICE: Unit 7B
Waterfall Lane Trading Estate
Cradley Heath
West Midlands
B64 6PU





REGISTERED NUMBER: 06718947 (England and Wales)






The Stourbridge Mirror Company Limited (Registered number: 06718947)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 80,611 97,677

CURRENT ASSETS
Stocks 16,300 30,200
Debtors 5 555,810 630,299
Cash at bank 340,976 111,652
913,086 772,151
CREDITORS
Amounts falling due within one year 6 514,821 444,583
NET CURRENT ASSETS 398,265 327,568
TOTAL ASSETS LESS CURRENT
LIABILITIES

478,876

425,245

CREDITORS
Amounts falling due after more than
one year

7

(29,528

)

(48,253

)

PROVISIONS FOR LIABILITIES (18,540 ) (18,558 )
NET ASSETS 430,808 358,434

CAPITAL AND RESERVES
Called up share capital 8 4 4
Retained earnings 430,804 358,430
SHAREHOLDERS' FUNDS 430,808 358,434

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 Stourbridge Mirror Company Limited (Registered number: 06718947)

Balance Sheet - continued
31 October 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 27 February 2024 and were signed on its behalf by:




R J Perry - Director



R A Westwood - Director


The Stourbridge Mirror Company Limited (Registered number: 06718947)

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

1. STATUTORY INFORMATION

The Stourbridge Mirror Company 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - in accordance with the property
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% 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.


The Stourbridge Mirror Company Limited (Registered number: 06718947)

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 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
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 28 (2022 - 25 ) .

The Stourbridge Mirror Company Limited (Registered number: 06718947)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2022 15,602 132,508 17,095 74,474 239,679
Additions - - - 20,165 20,165
Disposals - - - (15,039 ) (15,039 )
At 31 October 2023 15,602 132,508 17,095 79,600 244,805
DEPRECIATION
At 1 November 2022 15,602 61,620 15,269 49,511 142,002
Charge for year - 22,649 517 9,307 32,473
Eliminated on disposal - - - (10,281 ) (10,281 )
At 31 October 2023 15,602 84,269 15,786 48,537 164,194
NET BOOK VALUE
At 31 October 2023 - 48,239 1,309 31,063 80,611
At 31 October 2022 - 70,888 1,826 24,963 97,677

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 November 2022 65,385 48,827 114,212
Additions - 20,165 20,165
Disposals - (15,039 ) (15,039 )
At 31 October 2023 65,385 53,953 119,338
DEPRECIATION
At 1 November 2022 33,021 30,553 63,574
Charge for year 13,077 7,969 21,046
Eliminated on disposal - (10,281 ) (10,281 )
At 31 October 2023 46,098 28,241 74,339
NET BOOK VALUE
At 31 October 2023 19,287 25,712 44,999
At 31 October 2022 32,364 18,274 50,638

The Stourbridge Mirror Company Limited (Registered number: 06718947)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 554,110 627,440
Other debtors 1,700 2,859
555,810 630,299

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 14,607 9,295
Trade creditors 210,533 197,852
Taxation and social security 245,688 187,691
Other creditors 43,993 49,745
514,821 444,583

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 29,528 48,253

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
4 Ordinary £1 4 4

9. OFF-BALANCE SHEET ARRANGEMENTS

Total financial commitments which are not included in the balance sheet amount to £621,720.

10. RELATED PARTY DISCLOSURES

The company rents the property they trade at from a company called Bridge Art Properties Ltd. A director of this company, Mr R J Perry, is also a director of The Stourbridge Mirror Company Limited. The rent paid in this financial year was £43,500.

11. ULTIMATE CONTROLLING PARTY

The company is controlled in equal shares by the directors and their wives.