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REGISTERED NUMBER: 00332278 (England and Wales)















SHERBORNE RUBBER CO.LIMITED(THE)

Unaudited Financial Statements for the Year Ended 31 December 2023






SHERBORNE RUBBER CO.LIMITED(THE) (REGISTERED NUMBER: 00332278)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHERBORNE RUBBER CO.LIMITED(THE)

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D J Brown
S P Brown





SECRETARY: Mrs P A Brown





REGISTERED OFFICE: 38-50 Victoria Road
Aston
Birmingham
West Midlands
B6 5HF





REGISTERED NUMBER: 00332278 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

SHERBORNE RUBBER CO.LIMITED(THE) (REGISTERED NUMBER: 00332278)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 107,492 73,716

CURRENT ASSETS
Stocks 131,966 166,790
Debtors 5 294,213 217,961
Cash at bank 10,592 -
436,771 384,751
CREDITORS
Amounts falling due within one year 6 238,312 193,516
NET CURRENT ASSETS 198,459 191,235
TOTAL ASSETS LESS CURRENT
LIABILITIES

305,951

264,951

CREDITORS
Amounts falling due after more than one
year

7

(33,717

)

-

PROVISIONS FOR LIABILITIES (18,543 ) (10,328 )
NET ASSETS 253,691 254,623

CAPITAL AND RESERVES
Called up share capital 5,982 5,982
Share premium 5,282 5,282
Retained earnings 242,427 243,359
253,691 254,623

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

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

SHERBORNE RUBBER CO.LIMITED(THE) (REGISTERED NUMBER: 00332278)

Balance Sheet - continued
31 December 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 6 September 2024 and were signed on its behalf by:





S P Brown - Director


SHERBORNE RUBBER CO.LIMITED(THE) (REGISTERED NUMBER: 00332278)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Sherborne Rubber Co.Limited(The) 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 (£).


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 - 10% on reducing balance
Motor vehicles - 25% 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.

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.

SHERBORNE RUBBER CO.LIMITED(THE) (REGISTERED NUMBER: 00332278)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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 13 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 300,387 49,400 28,319 378,106
Additions - 56,393 - 56,393
Disposals - (34,650 ) - (34,650 )
At 31 December 2023 300,387 71,143 28,319 399,849
DEPRECIATION
At 1 January 2023 244,936 31,990 27,464 304,390
Charge for year 5,546 3,658 233 9,437
Eliminated on disposal - (21,470 ) - (21,470 )
At 31 December 2023 250,482 14,178 27,697 292,357
NET BOOK VALUE
At 31 December 2023 49,905 56,965 622 107,492
At 31 December 2022 55,451 17,410 855 73,716

The net book value of tangible fixed assets includes £ 56,394 (2022 - £ 16,649 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 153,076 102,129
Amounts owed by group undertakings 110,859 99,578
Other debtors 30,278 16,254
294,213 217,961

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 18,914
Hire purchase contracts 14,400 2,434
Trade creditors 64,073 60,813
Amounts owed to group undertakings 106,245 76,149
Taxation and social security 22,800 14,230
Other creditors 30,794 20,976
238,312 193,516

SHERBORNE RUBBER CO.LIMITED(THE) (REGISTERED NUMBER: 00332278)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 27,697 -
Other creditors 6,020 -
33,717 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 42,097 2,434

Hire purchase liabilities are secured on the assets to which the borrowing relates.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.