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REGISTERED NUMBER: 07822094 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

ADVANCED METAL FINISHERS LIMITED

ADVANCED METAL FINISHERS LIMITED (REGISTERED NUMBER: 07822094)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ADVANCED METAL FINISHERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Mrs P A Burton
Miss D Loveland





REGISTERED OFFICE: Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA





REGISTERED NUMBER: 07822094 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

ADVANCED METAL FINISHERS LIMITED (REGISTERED NUMBER: 07822094)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,730 15,902

CURRENT ASSETS
Stocks 7,292 14,432
Debtors 5 120,215 100,812
Cash at bank 10,460 -
137,967 115,244
CREDITORS
Amounts falling due within one year 6 127,262 109,497
NET CURRENT ASSETS 10,705 5,747
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,435

21,649

CREDITORS
Amounts falling due after more than one
year

7

27,184

44,125
NET LIABILITIES (3,749 ) (22,476 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (3,751 ) (22,478 )
SHAREHOLDERS' FUNDS (3,749 ) (22,476 )

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

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

ADVANCED METAL FINISHERS LIMITED (REGISTERED NUMBER: 07822094)

BALANCE SHEET - continued
31 OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:




Mrs P A Burton - Director



Miss D Loveland - Director


ADVANCED METAL FINISHERS LIMITED (REGISTERED NUMBER: 07822094)

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

1. STATUTORY INFORMATION

Advanced Metal Finishers 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 represents net invoiced 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.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

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.

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 6 (2022 - 6 ) .

ADVANCED METAL FINISHERS LIMITED (REGISTERED NUMBER: 07822094)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 65,869 3,965 7,000 5,075 81,909
Additions 5,700 - - - 5,700
At 31 October 2023 71,569 3,965 7,000 5,075 87,609
DEPRECIATION
At 1 November 2022 55,385 3,217 3,416 3,989 66,007
Charge for year 6,828 748 717 579 8,872
At 31 October 2023 62,213 3,965 4,133 4,568 74,879
NET BOOK VALUE
At 31 October 2023 9,356 - 2,867 507 12,730
At 31 October 2022 10,484 748 3,584 1,086 15,902

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,616 9,201
Other debtors 105,847 89,639
Prepayments and accrued income 1,752 1,972
120,215 100,812

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 18,814
Other loans 13,000 12,000
Trade creditors 18,455 20,212
Tax 3,192 1,776
Social security and other taxes 10,067 15,179
VAT 63,372 36,330
Other creditors 7,376 3,436
Accrued expenses 1,800 1,750
127,262 109,497

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 27,184 31,125
Other loans - 13,000
27,184 44,125

ADVANCED METAL FINISHERS LIMITED (REGISTERED NUMBER: 07822094)

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

8. GOING CONCERN

At 31st October 2023 the company had a net deficiency of assets of £3,749 (2022: £22,476). The directors undertake to financially support the company until trading conditions improve. It is therefore deemed appropriate to prepare the financial statements on the going concern basis.