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REGISTERED NUMBER: SC180245 (Scotland)















HARDOX WEARPARTS CENTRE STIRLING LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






HARDOX WEARPARTS CENTRE STIRLING LTD (REGISTERED NUMBER: SC180245)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HARDOX WEARPARTS CENTRE STIRLING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr B Perry
Mr A W Wragg
Mr P N Hallin





SECRETARY: Mr A W Wragg





REGISTERED OFFICE: Unit 1 Bandeath Industrial Estate
Throsk
Stirling
FK7 7NP





REGISTERED NUMBER: SC180245 (Scotland)





AUDITORS: Folkes Worton LLP
Chartered Accountants and Statutory Auditor
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

HARDOX WEARPARTS CENTRE STIRLING LTD (REGISTERED NUMBER: SC180245)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 135,397 177,044

CURRENT ASSETS
Stocks 649,920 579,067
Debtors 5 564,758 439,974
Cash at bank and in hand 360,128 240,152
1,574,806 1,259,193
CREDITORS
Amounts falling due within one year 6 833,917 612,225
NET CURRENT ASSETS 740,889 646,968
TOTAL ASSETS LESS CURRENT
LIABILITIES

876,286

824,012

CREDITORS
Amounts falling due after more than one
year

7

-

(300,000

)

PROVISIONS FOR LIABILITIES (19,047 ) (22,034 )
NET ASSETS 857,239 501,978

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 857,233 501,972
SHAREHOLDERS' FUNDS 857,239 501,978

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 29 February 2024 and were signed on its behalf by:





Mr B Perry - Director


HARDOX WEARPARTS CENTRE STIRLING LTD (REGISTERED NUMBER: SC180245)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Hardox Wearparts Centre Stirling Ltd is a private company, limited by shares , registered in Scotland. 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 represents net sales of goods/services, excluding value added tax

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - at variable rates on cost or NBV

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.

HARDOX WEARPARTS CENTRE STIRLING LTD (REGISTERED NUMBER: SC180245)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 294,704 392,082 686,786
Additions - 14,761 14,761
Disposals - (19,500 ) (19,500 )
At 31 December 2023 294,704 387,343 682,047
DEPRECIATION
At 1 January 2023 205,796 303,946 509,742
Charge for year 29,699 26,215 55,914
Eliminated on disposal - (19,006 ) (19,006 )
At 31 December 2023 235,495 311,155 546,650
NET BOOK VALUE
At 31 December 2023 59,209 76,188 135,397
At 31 December 2022 88,908 88,136 177,044

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 495,097 380,716
Other debtors 69,661 59,258
564,758 439,974

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 315,160 432,164
Taxation and social security 188,499 140,748
Other creditors 330,258 39,313
833,917 612,225

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors - 300,000

HARDOX WEARPARTS CENTRE STIRLING LTD (REGISTERED NUMBER: SC180245)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 119,407 103,501
Between one and five years 125,641 194,642
245,048 298,143

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nigel Meredith FCA (Senior Statutory Auditor)
for and on behalf of Folkes Worton LLP

10. RELATED PARTY DISCLOSURES

Included within creditors: amounts falling due within one year is £218,539 (2022 - £365,078) due to the company's parent company.

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of SSAB EMEA AB, a company incorporated in Sweden, which is a wholly owned subsidiary of SSAB AB, a company incorporated in Sweden.