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Registered Number: 04296892
England and Wales

 

 

 

SRS FEATURE HANDCARTS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Director Mr C J Swinnerton
Registered Number 04296892
Registered Office Windy Ash Stud
Cutts Lane
Out Rawcliffe
Lancashire
PR3 6SY
Accountants Kazbor Services Limited
102 Fairhope Avenue
Bare
Morecambe
Lancashire
LA4 6LA
Bankers Virgin Money
44 Fishergate
Preston
Lancashire
PR1 8BH

1
As described in the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 October 2023 and you consider that the company is exempt from an audit under the Companies Act 2006.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.



....................................................
Kazbor Services Limited
102 Fairhope Avenue
Bare
Morecambe
Lancashire
LA4 6LA
11 July 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 4,481    7,598 
4,481    7,598 
Current assets      
Stocks 5 2,500    2,500 
Debtors: amounts falling due within one year 6 9,365    9,288 
Cash at bank and in hand 41,689    14,696 
53,554    26,484 
Creditors: amount falling due within one year 7 (47,944)   (10,207)
Net current assets 5,610    16,277 
 
Total assets less current liabilities 10,091    23,875 
Provisions for liabilities 8 (445)   (1,444)
Net assets 9,646    22,431 
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account 9,546    22,331 
Shareholder's funds 9,646    22,431 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 11 July 2024 and were signed by:


-------------------------------
Mr C J Swinnerton
Director
3
General Information
SRS Feature Handcarts Limited is a private company, limited by shares, registered in England and Wales, registration number 04296892, registration address Windy Ash Stud, Cutts Lane, Out Rawcliffe, Lancashire, PR3 6SY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The company's customer base is involved in an industry that was severely affected by the COVID-19 lockdown rules but since the relaxation of those rules, the director has the opinion that trading has returned to normality. The director also considers that the company is financially secure and, in a position, whereby it can manage its business risks for the foreseeable future. Therefore, the director considers that it is appropriate to use the going concern basis of accounting for preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Turnover is recognised in the financial statements on the basis of invoiced sales of goods and services supplied during the period. Invoices for services are issued periodically during the period of which some services may be invoiced in advance. A provision is made at the reporting date for any turnover that has been invoiced in advance which is apportioned on a time basis.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement in the year to which it is attributable to, or, as any related expenditure is incurred. 
Taxation
The current tax payable for the period is based on the taxable profit or loss. The taxable profit or loss may differ from the profit or loss reported in the financial statements because adjustments are made for items that are treated differently for tax purposes compared to their treatment for accounts purposes. The tax liability is based on current tax laws and rates.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and their treatment for accounting purposes. The deferred tax balance has not been discounted.
Dividends
Dividends deemed to have been voted and paid during the period are included in these financial statements. Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the shareholders prior to the balance sheet date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years. The current goodwill is fully amortised.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 10% / 33% Straight Line
Motor Vehicles 33% Straight Line
Stocks
Stocks have been valued at the lower of cost and expected selling price less costs to sell. Costs to sell include the relevant proportion of overheads according to the stage of completion. 
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments included within these financial statements are valued at the transaction price ruling at the time of the transaction.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

The average number of persons shown below includes directors:

Average number of employees during the year was 1 (2022 : 1).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 November 2022 11,000    11,000 
Additions  
Disposals  
At 31 October 2023 11,000    11,000 
Amortisation
At 01 November 2022 11,000    11,000 
Charge for year  
On disposals  
At 31 October 2023 11,000    11,000 
Net book values
At 31 October 2023  
At 31 October 2022  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 November 2022 19,263    8,700    27,963 
Additions    
Disposals    
At 31 October 2023 19,263    8,700    27,963 
Depreciation
At 01 November 2022 17,465    2,900    20,365 
Charge for year 217    2,900    3,117 
On disposals    
At 31 October 2023 17,682    5,800    23,482 
Net book values
Closing balance as at 31 October 2023 1,581    2,900    4,481 
Opening balance as at 01 November 2022 1,798    5,800    7,598 


5.

Stocks

2023
£
  2022
£
Finished Goods 2,400    2,400 
Raw Materials 100    100 
2,500    2,500 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 9,365    9,288 
9,365    9,288 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Taxation and Social Security 6,255    4,277 
Other Creditors 41,689    5,930 
47,944    10,207 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax b/f 1,444   
Deferred Tax Charged to Income Statement for Period (999)   1,444 
445    1,444 

9.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Ord shares of £1.00 each 100    100 
100    100 

10.

Exceptional Item

Bad debt recovered

In 2022, the director successfully recovered a debt for the company that had originally been written off as bad due to COVID-19. The settlement received was £20,365 net.

4