Company Registration No. 01359000 (England and Wales)
Exactweld (G.B.) Limited
Unaudited Financial Statements
for the year ended 30 April 2023
Exactweld (G.B.) Limited
Unaudited Financial Statements
Contents
Exactweld (G.B.) Limited
Company Information
for the year ended 30 April 2023
Directors
Guy Christopher Pearson
John Baldwin
Company Number
01359000 (England and Wales)
Registered Office
Unit J
Charlwoods Business Centre
East Grinstead
RH19 2HH
England
Accountants
M I Spencer Ltd
4 Farmland Way
Hailsham
East Sussex
BN27 1SP
Exactweld (G.B.) Limited
Statement of financial position
as at 30 April 2023
Intangible assets
141,009
141,009
Tangible assets
3,942
4,638
Cash at bank and in hand
123,695
126,633
Creditors: amounts falling due within one year
(16,981)
(15,248)
Net current assets
134,120
127,325
Total assets less current liabilities
279,071
272,972
Provisions for liabilities
Net assets
278,372
272,194
Called up share capital
100
100
Profit and loss account
278,272
272,094
Shareholders' funds
278,372
272,194
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 January 2024 and were signed on its behalf by
Guy Christopher Pearson
Director
Company Registration No. 01359000
Exactweld (G.B.) Limited
Notes to the Accounts
for the year ended 30 April 2023
Exactweld (G.B.) Limited is a private company, limited by shares, registered in England and Wales, registration number 01359000. The registered office is Unit J, Charlwoods Business Centre , East Grinstead, RH19 2HH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on reducing Balance
Fixtures & fittings
10% on cost
Intangible fixed assets (including purchased goodwill and patents) are included at cost.
4
Intangible fixed assets
Other
Exactweld (G.B.) Limited
Notes to the Accounts
for the year ended 30 April 2023
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 May 2022
89,939
15,710
105,649
At 30 April 2023
89,939
15,710
105,649
At 1 May 2022
85,302
15,709
101,011
Charge for the year
696
-
696
At 30 April 2023
85,998
15,709
101,707
At 30 April 2023
3,941
1
3,942
At 30 April 2022
4,637
1
4,638
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Amounts falling due within one year
Trade debtors
23,292
12,576
Accrued income and prepayments
3,545
2,863
8
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
6,515
5,446
Loans from directors
2,019
1,993
Exactweld (G.B.) Limited
Notes to the Accounts
for the year ended 30 April 2023
9
Deferred taxation
2023
2022
Accelerated capital allowances
699
778
Provision at start of year
778
-
(Credited)/charged to the profit and loss account
(79)
778
Provision at end of year
699
778
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.
10
Average number of employees
During the year the average number of employees was 3 (2022: 4).