West Suffolk Tool And Gauge Limited |
Registered Number:01954304 |
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
For the year ended 31 December 2023
West Suffolk Tool And Gauge Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
West Suffolk Tool And Gauge Limited
Statement of Financial Position
2022
2023
4,550
3,500
2
Trade and other receivables |
143,205
122,830
3
194,866
Cash and cash equivalents |
175,038
301,368
342,621
Trade and other payables: amounts falling due within |
one year |
(32,339)
(32,478)
4
310,282
268,890
Net current assets
Total assets less current liabilities |
268,890
310,282
268,890
Net assets
310,282
2
2
268,888
310,280
268,890
310,282
Shareholders' funds
For the year ended 31 December 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
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 director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Mr David James King Director |
These financial statements were approved and authorised for issue by the Board on 12 September 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 December 2023
West Suffolk Tool And Gauge Limited
Notes to the Financial Statements
Statutory Information
West Suffolk Tool And Gauge Limited is a private limited company, limited by shares, domiciled in England |
and Wales, registration number 01954304. |
63D Gorse Ind Estate
Elveden Road
Barnham
Thetford
IP24 2PH
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of |
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical |
costs convention as modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. |
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees.A seperate National Employee Savings Trust defined contribution stakeholder pension scheme became operational during 2018 to comply with auto-enrolment legislation.Contributions payable are charged to the profit and loss account in the period in which they are payable. |
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For the year ended 31 December 2023
West Suffolk Tool And Gauge Limited
Notes to the Financial Statements Continued
2022
2023
3,500
4,550
3. Trade and other receivables |
2022
2023
44,950
60,354
Amounts owed by group undertakings and participating intere |
sts |
67,817
82,507
10,063
344
143,205
122,830
4. Trade and other payables: amounts falling due within one year |
2022
2023
19,075
23,299
Taxation and social security |
8,669
7,927
4,734
1,113
32,478
32,339
5. Related party transactions |
The company is under the control of D J King who owns 100% of the issued share capital. |
During the year D J King traded as West Suffolk Tool & Gauge Company, an unincorporated business. |
During the year the company hired plant and machinery from West Suffolk Tool & Gauge Company at a |
cost of £66,000 (2022: £59,000) on normal business terms. |
At 31 December 2023 the net amount owed to the limited company by West Suffolk Tool & Gauge |
Company was £67.817 (2022: £82,507 ) and this is shown in the trade and other recivables note. |
6. Average number of persons employed |
During the year the average number of employees was 8 (2022 : 8)
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