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REGISTERED NUMBER: 01199045 (England and Wales)















Samco Products Limited

Unaudited Financial Statements for the Year Ended 31 January 2024






Samco Products Limited (Registered number: 01199045)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Samco Products Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr S Pye
Mrs V A Pye





REGISTERED OFFICE: Tir Llwyd Enterprise Park
Kinmel Bay
Rhyl
LL18 5JZ





REGISTERED NUMBER: 01199045 (England and Wales)





ACCOUNTANTS: Pritchett & Co
Chartered Accountants and Chartered Tax Advisers
16 Wynnstay Road
Colwyn Bay
Conwy
LL29 8NB

Samco Products Limited (Registered number: 01199045)

Balance Sheet
31 January 2024

31/1/24 31/1/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 167,531 176,415
167,531 176,415

CURRENT ASSETS
Stocks 229,386 274,194
Debtors 6 412,985 406,178
Cash at bank and in hand 210,039 110,016
852,410 790,388
CREDITORS
Amounts falling due within one year 7 434,305 409,614
NET CURRENT ASSETS 418,105 380,774
TOTAL ASSETS LESS CURRENT
LIABILITIES

585,636

557,189

PROVISIONS FOR LIABILITIES 37,000 32,500
NET ASSETS 548,636 524,689

Samco Products Limited (Registered number: 01199045)

Balance Sheet - continued
31 January 2024

31/1/24 31/1/23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 900 900
Retained earnings 547,736 523,789
548,636 524,689

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 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 16 April 2024 and were signed on its behalf by:





Mr S Pye - Director


Samco Products Limited (Registered number: 01199045)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Samco Products 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.

Goodwill
The company's purchased goodwill has been fully amortised.

Intangible 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 balance sheet date.


Samco Products Limited (Registered number: 01199045)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 12,750
AMORTISATION
At 1 February 2023
and 31 January 2024 12,750
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

Samco Products Limited (Registered number: 01199045)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 February 2023 545,760 44,140 589,900
Additions 22,194 30,643 52,837
Disposals (27,593 ) (18,960 ) (46,553 )
At 31 January 2024 540,361 55,823 596,184
DEPRECIATION
At 1 February 2023 383,229 30,256 413,485
Charge for year 21,644 9,549 31,193
Eliminated on disposal (3,397 ) (12,628 ) (16,025 )
At 31 January 2024 401,476 27,177 428,653
NET BOOK VALUE
At 31 January 2024 138,885 28,646 167,531
At 31 January 2023 162,531 13,884 176,415

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade debtors 412,066 405,259
Other debtors 919 919
412,985 406,178

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade creditors 315,578 286,704
Taxation and social security 64,653 70,002
Other creditors 54,074 52,908
434,305 409,614