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REGISTERED NUMBER: 05563006 (England and Wales)















Fereday Cylinder Company Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2023






Fereday Cylinder Company Ltd (Registered number: 05563006)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


Fereday Cylinder Company Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: D J Wilson
R D Fereday
Mrs S A Fereday





SECRETARY: Mrs C Wilson





REGISTERED OFFICE: Unit 3 Thornleigh T/ Estate
Blowers Green Road
Dudley
West Midlands
DY2 8UB





REGISTERED NUMBER: 05563006 (England and Wales)





ACCOUNTANTS: JMC Accountants & Tax Advisers Ltd
76 High Street
Brierley Hill
West Midlands
DY5 3AW

Fereday Cylinder Company Ltd (Registered number: 05563006)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 108,689 78,576
108,689 78,576

CURRENT ASSETS
Stocks 5,600 2,600
Debtors 6 250,233 336,174
Cash at bank 233,332 405,205
489,165 743,979
CREDITORS
Amounts falling due within one year 7 323,312 526,051
NET CURRENT ASSETS 165,853 217,928
TOTAL ASSETS LESS CURRENT
LIABILITIES

274,542

296,504

PROVISIONS FOR LIABILITIES 20,651 14,929
NET ASSETS 253,891 281,575

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings 253,792 281,476
SHAREHOLDERS' FUNDS 253,891 281,575

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.

Fereday Cylinder Company Ltd (Registered number: 05563006)

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 21 February 2024 and were signed on its behalf by:





D J Wilson - Director


Fereday Cylinder Company Ltd (Registered number: 05563006)

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

1. STATUTORY INFORMATION

Fereday Cylinder Company Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being 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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 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.


Fereday Cylinder Company Ltd (Registered number: 05563006)

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.

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 13 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 90,000
AMORTISATION
At 1 November 2022
and 31 October 2023 90,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

Fereday Cylinder Company Ltd (Registered number: 05563006)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2022 177,335 21,834 42,110 241,279
Additions 26,667 1,888 31,500 60,055
Disposals (33,500 ) - (10,000 ) (43,500 )
At 31 October 2023 170,502 23,722 63,610 257,834
DEPRECIATION
At 1 November 2022 116,949 12,807 32,947 162,703
Charge for year 12,214 1,640 10,060 23,914
Eliminated on disposal (27,894 ) - (9,578 ) (37,472 )
At 31 October 2023 101,269 14,447 33,429 149,145
NET BOOK VALUE
At 31 October 2023 69,233 9,275 30,181 108,689
At 31 October 2022 60,386 9,027 9,163 78,576

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 246,677 324,488
Other debtors 3,556 11,686
250,233 336,174

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,705 3,751
Trade creditors 83,528 158,566
Amounts owed to group undertakings 118,332 238,936
Taxation and social security 111,596 118,777
Other creditors 6,151 6,021
323,312 526,051

8. OTHER FINANCIAL COMMITMENTS

The company rents equipment under a lease which ends in under one year. The amount due in the next twelve months amounts to £630.

The company rents a vehicle under a contract hire agreement which ends within two to five years. The amount due in the next twelve months amounts to £14,174.