Registered number
08031785
Huddersfield Sheet Metal Ltd
Filleted Accounts
30 April 2024
Huddersfield Sheet Metal Ltd
Registered number: 08031785
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,417 16,239
Current assets
Stocks 7,000 7,000
Debtors 4 72,023 84,018
Cash at bank and in hand 38,226 49,601
117,249 140,619
Creditors: amounts falling due within one year 5 (89,742) (95,392)
Net current assets 27,507 45,227
Total assets less current liabilities 31,924 61,466
Creditors: amounts falling due after more than one year 6 (10,739) (22,598)
Provisions for liabilities (958) (2,237)
Net assets 20,227 36,631
Capital and reserves
Called up share capital 100 100
Profit and loss account 20,127 36,531
Shareholders' funds 20,227 36,631
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Foster
Director
Approved by the board on 13 September 2024
Huddersfield Sheet Metal Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Motor vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 76,416 11,160 87,576
Additions 1,318 - 1,318
Disposals (7,706) - (7,706)
At 30 April 2024 70,028 11,160 81,188
Depreciation
At 1 May 2023 64,641 6,696 71,337
Charge for the year 10,908 2,232 13,140
On disposals (7,706) - (7,706)
At 30 April 2024 67,843 8,928 76,771
Net book value
At 30 April 2024 2,185 2,232 4,417
At 30 April 2023 11,775 4,464 16,239
4 Debtors 2024 2023
£ £
Trade debtors 69,387 81,872
Other debtors 2,636 2,146
72,023 84,018
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,927 9,996
Trade creditors 44,468 28,670
Taxation and social security costs 33,405 50,517
Other creditors 942 6,209
89,742 95,392
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,739 22,598
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr Philip Foster (2,282) 4,484 (1,805) 397
-
Mr Marcus Nash (2,601) 4,484 (2,075) (192)
(4,883) 8,968 (3,880) 205
8 Controlling party
The ultimate controlling party is the Directors.
9 Other information
Huddersfield Sheet Metal Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 11, Bath Mills, Albert Street
Lockwood
Huddersfield
West Yorkshire
HD1 3PY
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