IRIS Accounts Production v24.1.0.578 01558363 Board of Directors 1.8.22 31.7.23 31.7.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh015583632022-07-31015583632023-07-31015583632022-08-012023-07-31015583632021-07-31015583632021-08-012022-07-31015583632022-07-3101558363ns15:EnglandWales2022-08-012023-07-3101558363ns14:PoundSterling2022-08-012023-07-3101558363ns10:Director12022-08-012023-07-3101558363ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3101558363ns10:SmallEntities2022-08-012023-07-3101558363ns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3101558363ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3101558363ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-3101558363ns10:FullAccounts2022-08-012023-07-310155836312022-08-012023-07-3101558363ns10:Director22022-08-012023-07-3101558363ns10:Director32022-08-012023-07-3101558363ns10:RegisteredOffice2022-08-012023-07-3101558363ns5:CurrentFinancialInstruments2023-07-3101558363ns5:CurrentFinancialInstruments2022-07-3101558363ns5:Non-currentFinancialInstruments2023-07-3101558363ns5:Non-currentFinancialInstruments2022-07-3101558363ns5:ShareCapital2023-07-3101558363ns5:ShareCapital2022-07-3101558363ns5:RetainedEarningsAccumulatedLosses2023-07-3101558363ns5:RetainedEarningsAccumulatedLosses2022-07-3101558363ns5:PlantMachinery2022-08-012023-07-3101558363ns5:FurnitureFittings2022-08-012023-07-3101558363ns5:MotorVehicles2022-08-012023-07-3101558363ns5:LeaseholdImprovements2022-07-3101558363ns5:PlantMachinery2022-07-3101558363ns5:FurnitureFittings2022-07-3101558363ns5:LeaseholdImprovements2022-08-012023-07-3101558363ns5:LeaseholdImprovements2023-07-3101558363ns5:PlantMachinery2023-07-3101558363ns5:FurnitureFittings2023-07-3101558363ns5:LeaseholdImprovements2022-07-3101558363ns5:PlantMachinery2022-07-3101558363ns5:FurnitureFittings2022-07-3101558363ns5:MotorVehicles2022-07-3101558363ns5:ComputerEquipment2022-07-3101558363ns5:ComputerEquipment2022-08-012023-07-3101558363ns5:MotorVehicles2023-07-3101558363ns5:ComputerEquipment2023-07-3101558363ns5:MotorVehicles2022-07-3101558363ns5:ComputerEquipment2022-07-3101558363ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-07-3101558363ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-07-3101558363ns5:LeasedAssetsHeldAsLessee2022-07-3101558363ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-08-012023-07-3101558363ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-08-012023-07-3101558363ns5:LeasedAssetsHeldAsLessee2022-08-012023-07-3101558363ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-07-3101558363ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-07-3101558363ns5:LeasedAssetsHeldAsLessee2023-07-3101558363ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-07-3101558363ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-07-3101558363ns5:LeasedAssetsHeldAsLessee2022-07-3101558363ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3101558363ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-3101558363ns5:Secured2023-07-3101558363ns5:Secured2022-07-31
REGISTERED NUMBER: 01558363 (England and Wales)













FASTENERS & ENGINEERING SUPPLIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






FASTENERS & ENGINEERING SUPPLIES LIMITED (REGISTERED NUMBER: 01558363)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FASTENERS & ENGINEERING SUPPLIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr N J Hughes
Mr J G B Thomas
Mr I G B Thomas





REGISTERED OFFICE: Unit 39d Vale Business Park
Llandow
Nr Cowbridge
Vale of Glamorgan
CF71 7PF





REGISTERED NUMBER: 01558363 (England and Wales)





ACCOUNTANTS: Carston Chartered Accountants
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

FASTENERS & ENGINEERING SUPPLIES LIMITED (REGISTERED NUMBER: 01558363)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 22,074 25,965
Tangible assets 5 98,241 148,328
120,315 174,293

CURRENT ASSETS
Stocks 445,692 463,266
Debtors 6 311,630 320,663
Cash at bank and in hand 175,983 123,921
933,305 907,850
CREDITORS
Amounts falling due within one year 7 387,573 444,533
NET CURRENT ASSETS 545,732 463,317
TOTAL ASSETS LESS CURRENT LIABILITIES 666,047 637,610

CREDITORS
Amounts falling due after more than one
year

8

(49,982

)

(81,717

)

PROVISIONS FOR LIABILITIES (23,970 ) (26,266 )
NET ASSETS 592,095 529,627

CAPITAL AND RESERVES
Called up share capital 100 200
Retained earnings 591,995 529,427
SHAREHOLDERS' FUNDS 592,095 529,627

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

FASTENERS & ENGINEERING SUPPLIES LIMITED (REGISTERED NUMBER: 01558363)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2024 and were signed on its behalf by:





Mr I G B Thomas - Director


FASTENERS & ENGINEERING SUPPLIES LIMITED (REGISTERED NUMBER: 01558363)

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


1. STATUTORY INFORMATION

Fasteners & Engineering Supplies Limited 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% straight line on cost
Fixtures and fittings - 10% - 33% per annum on cost
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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 14 (2022 - 13 ) .

FASTENERS & ENGINEERING SUPPLIES LIMITED (REGISTERED NUMBER: 01558363)

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


4. INTANGIBLE FIXED 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.

Website developments are being amortised evenly over their estimated useful life of five years.

5. TANGIBLE FIXED ASSETS
Fixtures
Improvements Plant and and
to property machinery fittings
£ £ £
COST
At 1 August 2022
and 31 July 2023 2,360 24,700 139,878
DEPRECIATION
At 1 August 2022 - 17,381 84,287
Charge for year - 6,152 23,170
At 31 July 2023 - 23,533 107,457
NET BOOK VALUE
At 31 July 2023 2,360 1,167 32,421
At 31 July 2022 2,360 7,319 55,591

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 August 2022
and 31 July 2023 137,220 50,860 355,018
DEPRECIATION
At 1 August 2022 54,162 50,860 206,690
Charge for year 20,765 - 50,087
At 31 July 2023 74,927 50,860 256,777
NET BOOK VALUE
At 31 July 2023 62,293 - 98,241
At 31 July 2022 83,058 - 148,328

FASTENERS & ENGINEERING SUPPLIES LIMITED (REGISTERED NUMBER: 01558363)

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


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 August 2022
and 31 July 2023 14,000 137,220 151,220
DEPRECIATION
At 1 August 2022 8,167 54,162 62,329
Charge for year 4,666 20,765 25,431
At 31 July 2023 12,833 74,927 87,760
NET BOOK VALUE
At 31 July 2023 1,167 62,293 63,460
At 31 July 2022 5,833 83,058 88,891

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 302,457 312,438
Other debtors 9,173 8,225
311,630 320,663

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 9,950 9,950
Hire purchase contracts 19,240 21,110
Trade creditors 276,529 333,995
Taxation and social security 80,004 53,806
Other creditors 1,850 25,672
387,573 444,533

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 19,047 28,810
Hire purchase contracts 30,935 52,907
49,982 81,717

FASTENERS & ENGINEERING SUPPLIES LIMITED (REGISTERED NUMBER: 01558363)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 28,997 38,760
Hire purchase contracts 50,175 74,017
79,172 112,777

The bank loan has a fixed and floating charge over all the property or undertaking of the company.

Hire purchase balances are secured against the asset to which they relate.