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REGISTERED NUMBER: 05557786 (England and Wales)


















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Eurobrass Limited

Eurobrass Limited (Registered number: 05557786)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Eurobrass Limited (Registered number: 05557786)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 139,697 156,729

CURRENT ASSETS
Stocks 1,614,103 2,093,205
Debtors 5 1,392,562 4,280,956
Cash at bank and in hand 1,449,451 229,789
4,456,116 6,603,950
CREDITORS
Amounts falling due within one year 6 (1,329,649 ) (3,929,052 )
NET CURRENT ASSETS 3,126,467 2,674,898
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,266,164

2,831,627

PROVISIONS FOR LIABILITIES (3,743 ) (13,326 )
NET ASSETS 3,262,421 2,818,301

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,262,321 2,818,201
SHAREHOLDERS' FUNDS 3,262,421 2,818,301

Eurobrass Limited (Registered number: 05557786)

Balance Sheet - continued
31 December 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by:





H V Jones - Director


Eurobrass Limited (Registered number: 05557786)

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

1. STATUTORY INFORMATION

Eurobrass Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05557786

Registered office: Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance

Inventories
Stocks are valued at the lower of cost and estimated sales price, 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 Profit and Loss Account,
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Eurobrass Limited (Registered number: 05557786)

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

2. ACCOUNTING POLICIES - continued

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 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 137,880 133,136 271,016
Additions - 2,496 2,496
At 31 December 2023 137,880 135,632 273,512
DEPRECIATION
At 1 January 2023 36,768 77,519 114,287
Charge for year 9,192 10,336 19,528
At 31 December 2023 45,960 87,855 133,815
NET BOOK VALUE
At 31 December 2023 91,920 47,777 139,697
At 31 December 2022 101,112 55,617 156,729

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,280,644 4,164,083
Other debtors 111,918 116,873
1,392,562 4,280,956

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,046,009 3,069,397
Taxation and social security 192,445 753,557
Other creditors 91,195 106,098
1,329,649 3,929,052

Eurobrass Limited (Registered number: 05557786)

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

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 December 2023 and the year ended 31 December 2022:

Director 1
20232022
£   £   

Amounts Advanced44,11552,691
Amounts Repaid(48,251)(59,000)



Director 2
20232022
£   £   

Amounts Advanced44,11552,691
Amounts Repaid(48,251)(64,732)



Interest is charged on all loans at the official rate of interest set by HMRC.