File
Registration number:
Maldon Shot Blasting & Powder Coating Ltd
for the Year Ended 29 February 2024
Maldon Shot Blasting & Powder Coating Ltd
Contents
Company Information |
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Accountants' Report |
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Profit and Loss Account |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
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Detailed Profit and Loss Account |
Maldon Shot Blasting & Powder Coating Ltd
Company Information
Directors |
Mrs H Lodge Mr G Lodge Mr C Lodge Mr T Lodge |
Company secretary |
Mrs H Lodge |
Registered office |
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Bankers |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Maldon Shot Blasting & Powder Coating Ltd
for the Year Ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Maldon Shot Blasting & Powder Coating Ltd for the year ended 29 February 2024 as set out on pages 3 to 5 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Maldon Shot Blasting & Powder Coating Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Maldon Shot Blasting & Powder Coating Ltd and state those matters that we have agreed to state to the Board of Directors of Maldon Shot Blasting & Powder Coating Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Maldon Shot Blasting & Powder Coating Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Maldon Shot Blasting & Powder Coating Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Maldon Shot Blasting & Powder Coating Ltd. You consider that Maldon Shot Blasting & Powder Coating Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Maldon Shot Blasting & Powder Coating Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered accountants
Silks Way
Braintree
Essex
CM7 3GB
Maldon Shot Blasting & Powder Coating Ltd
Profit and Loss Account for the Year Ended 29 February 2024
2024 |
2023 |
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Turnover |
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|
Other income |
|
|
Cost of raw materials and consumables |
( |
( |
Staff costs |
( |
( |
Depreciation and other amounts written off assets |
( |
( |
Other charges |
(95,434) |
(88,980) |
Profit before tax |
|
|
Tax on profit |
( |
( |
Profit for the year |
|
|
Maldon Shot Blasting & Powder Coating Ltd
(Registration number: 05307287)
Balance Sheet as at 29 February 2024
2024 |
2023 |
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Fixed assets |
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Current assets |
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Prepayments and accrued income |
|
|
Creditors: Amounts falling due within one year |
( |
( |
Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
Accruals and deferred income |
( |
( |
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|
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Capital and reserves |
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For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved and authorised by the
.........................................
Director
Maldon Shot Blasting & Powder Coating Ltd
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.
These financial statements are presented in Sterling (£), which is the company's functional currency.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Financial commitments, guarantees and contingencies |
Amounts disclosed in the balance sheet
Included in the balance sheet are financial commitments of £12,408 (2023 - £17,332).
Maldon Shot Blasting & Powder Coating Ltd
Detailed Profit and Loss Account for the Year Ended 29 February 2024
2024 |
2023 |
|
Turnover (analysed below) |
311,884 |
304,760 |
Cost of sales (analysed below) |
(29,111) |
(25,025) |
Gross profit |
282,773 |
279,735 |
Gross profit (%) |
90.67% |
91.79% |
Administrative expenses |
||
Employment costs (analysed below) |
(145,174) |
(133,875) |
Establishment costs (analysed below) |
(80,177) |
(70,038) |
General administrative expenses (analysed below) |
(15,602) |
(15,117) |
Finance charges (analysed below) |
(2,279) |
(3,305) |
Depreciation costs (analysed below) |
(12,443) |
(17,295) |
Other expenses (analysed below) |
3,024 |
- |
(252,651) |
(239,630) |
|
Operating profit |
30,122 |
40,105 |
Other interest receivable and similar income (analysed below) |
2,794 |
12 |
Interest payable and similar expenses (analysed below) |
(400) |
(520) |
2,394 |
(508) |
|
Profit before tax |
32,516 |
39,597 |
Maldon Shot Blasting & Powder Coating Ltd
Detailed Profit and Loss Account for the Year Ended 29 February 2024
2024 |
2023 |
Turnover |
||
Product Sales |
26 |
(211) |
Services Sales |
235,951 |
236,546 |
Cerakote Sales |
54,365 |
43,553 |
Car Blasting Sales |
18,991 |
21,262 |
Blast Media Sales |
385 |
1,346 |
Other income |
2,166 |
2,264 |
311,884 |
304,760 |
Cost of sales |
||
Opening stock |
1,262 |
1,963 |
Purchases |
27,160 |
22,130 |
Closing stock |
(1,304) |
(1,262) |
Freight and carriage |
1,993 |
2,194 |
29,111 |
25,025 |
Employment costs |
||
Wages and salaries |
64,905 |
60,647 |
Staff NIC (Employers) |
5,029 |
4,362 |
Directors remuneration |
72,747 |
66,587 |
Staff pensions (Defined contribution) |
2,493 |
2,279 |
145,174 |
133,875 |
Establishment costs |
||
Rent |
28,000 |
28,000 |
Rates |
11,179 |
7,787 |
Water rates |
792 |
525 |
Light, heat and power |
25,552 |
23,225 |
Insurance |
5,890 |
5,917 |
Repairs and maintenance |
5,530 |
4,268 |
Repairs and renewals |
3,234 |
316 |
80,177 |
70,038 |
General administrative expenses |
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Use of home as office |
624 |
624 |
Clothing costs |
357 |
720 |
Telephone and fax |
935 |
1,264 |
Computer software and maintenance costs |
376 |
337 |
Printing, postage and stationery |
577 |
276 |
Trade Subscriptions |
415 |
873 |
Hire of plant and machinery |
769 |
709 |
Sundry expenses |
611 |
640 |
Cleaning |
341 |
98 |
Motor expenses |
3,139 |
4,210 |
Advertising |
3,897 |
3,021 |
Maldon Shot Blasting & Powder Coating Ltd
Detailed Profit and Loss Account for the Year Ended 29 February 2024
2024 |
2023 |
Accountancy fees |
2,525 |
2,345 |
Bad debts written off |
1,036 |
- |
15,602 |
15,117 |
Finance charges |
||
Bank charges |
332 |
306 |
Credit card charges |
1,947 |
2,999 |
2,279 |
3,305 |
Depreciation costs |
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Depreciation of plant and machinery |
10,289 |
14,476 |
Depreciation of fixtures and fittings |
96 |
128 |
Depreciation of motor vehicles |
857 |
1,142 |
Depreciation of office equipment |
1,201 |
1,549 |
12,443 |
17,295 |
Other expenses |
||
(Profit)/loss on disposal of tangible fixed assets |
3,024 |
- |
Other interest receivable and similar income |
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Bank interest receivable |
2,794 |
12 |
Interest payable and similar expenses |
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BBL interest payable |
400 |
520 |