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REGISTERED NUMBER: 01164011 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024

FOR

SOUTH ESSEX FASTENERS LTD

SOUTH ESSEX FASTENERS LTD (REGISTERED NUMBER: 01164011)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTH ESSEX FASTENERS LTD

COMPANY INFORMATION
FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024







DIRECTOR: R J Lythall





REGISTERED OFFICE: Clarence Street Chambers
32 Clarence Street
Southend-on-Sea
Essex
SS1 1BD





BUSINESS ADDRESS: 52 Tailors Court
Temple Farm Industrial Estate
Southend On Sea
Essex
SS2 5SX





REGISTERED NUMBER: 01164011 (England and Wales)





ACCOUNTANTS: A.R. Lee & Co.
Chartered Certified Accountants
Clarence Street Chambers
32 Clarence Street
Southend-on-Sea
Essex
SS1 1BD

SOUTH ESSEX FASTENERS LTD (REGISTERED NUMBER: 01164011)

BALANCE SHEET
31 MARCH 2024

31.3.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,012 14,556

CURRENT ASSETS
Stocks 262,387 295,873
Debtors 5 248,830 257,296
Cash in hand 1,784 1,652
513,001 554,821
CREDITORS
Amounts falling due within one year 6 327,178 327,640
NET CURRENT ASSETS 185,823 227,181
TOTAL ASSETS LESS CURRENT
LIABILITIES

197,835

241,737

CREDITORS
Amounts falling due after more than one year 7 (16,514 ) (25,780 )

PROVISIONS FOR LIABILITIES - (3,639 )
NET ASSETS 181,321 212,318

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Retained earnings 171,321 202,318
SHAREHOLDERS' FUNDS 181,321 212,318

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SOUTH ESSEX FASTENERS LTD (REGISTERED NUMBER: 01164011)

BALANCE SHEET - continued
31 MARCH 2024


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 director and authorised for issue on 6 September 2024 and were signed by:





R J Lythall - Director


SOUTH ESSEX FASTENERS LTD (REGISTERED NUMBER: 01164011)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

South Essex Fasteners Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The accounting period has been shortened to align with the director's other business interests, therefore the comparatives are not entirely comparable.

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.
Short leasehold - 40% on cost
Improvements to property - 10% on cost
Plant and machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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 period 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 period 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.

SOUTH ESSEX FASTENERS LTD (REGISTERED NUMBER: 01164011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 15 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 May 2023
and 31 March 2024 1,556 4,070 130,813
DEPRECIATION
At 1 May 2023 1,556 4,070 121,523
Charge for period - - 853
At 31 March 2024 1,556 4,070 122,376
NET BOOK VALUE
At 31 March 2024 - - 8,437
At 30 April 2023 - - 9,290

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023
and 31 March 2024 22,039 92,365 250,843
DEPRECIATION
At 1 May 2023 18,889 90,249 236,287
Charge for period 721 970 2,544
At 31 March 2024 19,610 91,219 238,831
NET BOOK VALUE
At 31 March 2024 2,429 1,146 12,012
At 30 April 2023 3,150 2,116 14,556

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 30.4.23
£    £   
Trade debtors 234,300 250,884
Other debtors 14,530 6,412
248,830 257,296

SOUTH ESSEX FASTENERS LTD (REGISTERED NUMBER: 01164011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 30.4.23
£    £   
Bank loans and overdrafts 48,649 59,028
Trade creditors 226,541 213,497
Taxation and social security 23,903 23,782
Other creditors 28,085 31,333
327,178 327,640

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 30.4.23
£    £   
Bank loans 16,514 25,780

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 30.4.23
£    £   
Bank overdrafts 38,551 44,331
Bank loans 26,612 40,477
65,163 84,808

The bank overdraft is secured by a £30,000 personal guarantee of the director.

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.3.24 30.4.23
value: £    £   
10,000 Share capital 1 £1 10,000 10,000

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £42,250 payable over the next 12 months.