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REGISTERED NUMBER: 00332847 (England and Wales)















DEPENDABLE SPRINGS & PRESSINGS LIMITED

Unaudited Financial Statements for the Year Ended 31 July 2023






DEPENDABLE SPRINGS & PRESSINGS LIMITED (REGISTERED NUMBER: 00332847)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

DEPENDABLE SPRINGS & PRESSINGS LIMITED

Company Information
for the Year Ended 31 July 2023







DIRECTORS: G.W. Turner
A.D. Turner





SECRETARY: G.W. Turner





REGISTERED OFFICE: Stewart Street
Wolverhampton
West Midlands
WV2 4JZ





REGISTERED NUMBER: 00332847 (England and Wales)





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

DEPENDABLE SPRINGS & PRESSINGS LIMITED (REGISTERED NUMBER: 00332847)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 289,311 293,134

CURRENT ASSETS
Stocks 119,608 111,933
Debtors 5 165,893 118,424
Cash at bank and in hand 44,318 52,485
329,819 282,842
CREDITORS
Amounts falling due within one year 6 440,625 386,732
NET CURRENT LIABILITIES (110,806 ) (103,890 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,505

189,244

PROVISIONS FOR LIABILITIES 3,279 3,279
NET ASSETS 175,226 185,965

CAPITAL AND RESERVES
Called up share capital 7 101,152 101,152
Revaluation reserve 8 202,100 202,100
Other reserves 3,279 3,279
Retained earnings (131,305 ) (120,566 )
SHAREHOLDERS' FUNDS 175,226 185,965

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

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

DEPENDABLE SPRINGS & PRESSINGS LIMITED (REGISTERED NUMBER: 00332847)

Balance Sheet - continued
31 July 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 12 April 2024 and were signed on its behalf by:




G.W. Turner - Director



A.D. Turner - Director


DEPENDABLE SPRINGS & PRESSINGS LIMITED (REGISTERED NUMBER: 00332847)

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


1. STATUTORY INFORMATION

Dependable Springs & Pressings 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 as modified by the revaluation of certain assets.

Turnover
Turnover is recognised when goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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


Financial instruments
Basic financial instruments are recognised and amortised at cost, except for investments in non-convertible preference shares or non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.


DEPENDABLE SPRINGS & PRESSINGS LIMITED (REGISTERED NUMBER: 00332847)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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.

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 12 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 August 2022 275,000 166,507 52,819
Additions - - -
At 31 July 2023 275,000 166,507 52,819
DEPRECIATION
At 1 August 2022 - 153,854 51,554
Charge for year - 2,648 252
At 31 July 2023 - 156,502 51,806
NET BOOK VALUE
At 31 July 2023 275,000 10,005 1,013
At 31 July 2022 275,000 12,653 1,265

DEPENDABLE SPRINGS & PRESSINGS LIMITED (REGISTERED NUMBER: 00332847)

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


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 August 2022 7,495 28,213 530,034
Additions - 175 175
At 31 July 2023 7,495 28,388 530,209
DEPRECIATION
At 1 August 2022 3,279 28,213 236,900
Charge for year 1,054 44 3,998
At 31 July 2023 4,333 28,257 240,898
NET BOOK VALUE
At 31 July 2023 3,162 131 289,311
At 31 July 2022 4,216 - 293,134

The freehold property was independently valued on 6th July 2022 by Michael Tromans & Co.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 160,609 113,495
Prepayments 5,284 4,929
165,893 118,424

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 12,245 15,949
Trade creditors 41,197 30,497
Social security and other taxes 8,258 6,890
Other trade creditors 20,072 3,166
Directors' current accounts 353,631 328,715
Accrued expenses 5,222 1,515
440,625 386,732

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
101,152 Ordinary £1 101,152 101,152

DEPENDABLE SPRINGS & PRESSINGS LIMITED (REGISTERED NUMBER: 00332847)

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


8. RESERVES
Revaluation
reserve
£   
At 1 August 2022
and 31 July 2023 202,100

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the directors:

G.W. Turner £295,631 (2022 £290,715). The movement of £4,916 is accounted for by capital introduced of £5,000 plus use of home as office of £400 less personal expenses of £484.

A. D. Turner £58,000 (2022 £38,000). The movement of £20,000 is accounted for by capital introduced.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Dependable Springs & Pressings 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 Balance Sheet. Readers are cautioned that the 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 Dependable Springs & Pressings Limited for the year ended 31 July 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Dependable Springs & Pressings 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 Dependable Springs & Pressings Limited and state those matters that we have agreed to state to the Board of Directors of Dependable Springs & Pressings 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 Dependable Springs & Pressings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Dependable Springs & Pressings 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 loss of Dependable Springs & Pressings Limited. You consider that Dependable Springs & Pressings 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 Dependable Springs & Pressings 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.






Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB


16 April 2024