S M Sheet Metal Limited 04714716 false 2022-07-01 2023-12-31 2023-12-31 The principal activity of the company is manufacture of fabricated metal products. Digita Accounts Production Advanced 6.30.9574.0 true 04714716 2022-07-01 2023-12-31 04714716 2023-12-31 04714716 core:CurrentFinancialInstruments 2023-12-31 04714716 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04714716 core:Goodwill 2023-12-31 04714716 core:FurnitureFittingsToolsEquipment 2023-12-31 04714716 core:LandBuildings 2023-12-31 04714716 core:MotorVehicles 2023-12-31 04714716 bus:SmallEntities 2022-07-01 2023-12-31 04714716 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-12-31 04714716 bus:FullAccounts 2022-07-01 2023-12-31 04714716 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-12-31 04714716 bus:RegisteredOffice 2022-07-01 2023-12-31 04714716 bus:Director1 2022-07-01 2023-12-31 04714716 bus:Director3 2022-07-01 2023-12-31 04714716 bus:Director4 2022-07-01 2023-12-31 04714716 bus:Director5 2022-07-01 2023-12-31 04714716 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-12-31 04714716 core:Goodwill 2022-07-01 2023-12-31 04714716 core:FurnitureFittings 2022-07-01 2023-12-31 04714716 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-12-31 04714716 core:LandBuildings 2022-07-01 2023-12-31 04714716 core:LeaseholdImprovements 2022-07-01 2023-12-31 04714716 core:MotorVehicles 2022-07-01 2023-12-31 04714716 countries:EnglandWales 2022-07-01 2023-12-31 04714716 2022-06-30 04714716 core:Goodwill 2022-06-30 04714716 core:FurnitureFittingsToolsEquipment 2022-06-30 04714716 core:LandBuildings 2022-06-30 04714716 core:MotorVehicles 2022-06-30 04714716 2021-07-01 2022-06-30 04714716 2022-06-30 04714716 core:CurrentFinancialInstruments 2022-06-30 04714716 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 04714716 core:Goodwill 2022-06-30 04714716 core:FurnitureFittingsToolsEquipment 2022-06-30 04714716 core:LandBuildings 2022-06-30 04714716 core:MotorVehicles 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 04714716

S M Sheet Metal Limited

Unaudited Filleted Financial Statements

for the Period from 1 July 2022 to 31 December 2023

 

S M Sheet Metal Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

S M Sheet Metal Limited

Company Information

Directors

Mrs KM Hunter

Mr MR Duxbury

Mrs C Duxbury

Mr S Hunter

Registered office

3 Limbrick Buildings
Crosse Hall Street
Chorley
Lancashire
PR6 0UH

Accountants

EKWilliams Accountants Limited
1 Pavilion Square
Westhoughton
Bolton
BL5 3AJ

 

S M Sheet Metal Limited

(Registration number: 04714716)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

-

7,200

Tangible assets

5

-

2,533

 

-

9,733

Current assets

 

Stocks

6

-

7,899

Debtors

7

397

24,194

Cash at bank and in hand

 

75,160

28,212

 

75,557

60,305

Creditors: Amounts falling due within one year

8

(23,757)

(28,565)

Net current assets

 

51,800

31,740

Total assets less current liabilities

 

51,800

41,473

Provisions for liabilities

-

(633)

Net assets

 

51,800

40,840

Capital and reserves

 

Called up share capital

4

4

Retained earnings

51,796

40,836

Shareholders' funds

 

51,800

40,840

 

S M Sheet Metal Limited

(Registration number: 04714716)
Balance Sheet as at 31 December 2023

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 March 2024 and signed on its behalf by:
 

.........................................
Mr MR Duxbury
Director

 

S M Sheet Metal Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Limbrick Buildings
Crosse Hall Street
Chorley
Lancashire
PR6 0UH

These financial statements were authorised for issue by the Board on 14 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

S M Sheet Metal Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% Straight line

Equipment, fixtures and fittings

20% Straight line

Property improvments

10% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% Straight Line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

S M Sheet Metal Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2022 - 4).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2022

18,000

18,000

Disposals

(18,000)

(18,000)

At 31 December 2023

-

-

Amortisation

At 1 July 2022

10,800

10,800

Amortisation eliminated on disposals

(10,800)

(10,800)

At 31 December 2023

-

-

Carrying amount

At 31 December 2023

-

-

At 30 June 2022

7,200

7,200

 

S M Sheet Metal Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

5

Tangible assets

Property Improvements
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

8,400

15,002

43,381

66,783

Disposals

(8,400)

(15,002)

(43,381)

(66,783)

At 31 December 2023

-

-

-

-

Depreciation

At 1 July 2022

8,400

13,844

42,006

64,250

Charge for the period

-

558

375

933

Eliminated on disposal

(8,400)

(14,402)

(42,381)

(65,183)

At 31 December 2023

-

-

-

-

Carrying amount

At 31 December 2023

-

-

-

-

At 30 June 2022

-

1,158

1,375

2,533

6

Stocks

2023
£

2022
£

Work in progress

-

6,707

Raw materials and consumables

-

1,192

-

7,899

7

Debtors

Current

2023
£

2022
£

Trade debtors

-

22,816

Prepayments

-

1,378

Other debtors

397

-

 

397

24,194

 

S M Sheet Metal Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

2,060

Taxation and social security

22,596

23,274

Accruals and deferred income

-

1,906

Other creditors

1,161

1,325

23,757

28,565