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REGISTERED NUMBER: 12672388 (England and Wales)






UK Cylinders Limited

Financial Statements

for the Year Ended 31 December 2023






UK Cylinders Limited (Registered number: 12672388)

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


UK Cylinders Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: Mr C C Holroyd
Mr R C Marsden





REGISTERED OFFICE: Unit 3
Sandbeds Trading Estate
Dewsbury Road
Ossett
West Yorkshire
WF5 9ND





REGISTERED NUMBER: 12672388 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

UK Cylinders Limited (Registered number: 12672388)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 50,229 69,228

CURRENT ASSETS
Stocks 21,215 16,923
Debtors 5 2,196,014 1,551,166
Cash at bank 531,360 177,108
2,748,589 1,745,197
CREDITORS
Amounts falling due within one year 6 2,212,027 1,529,441
NET CURRENT ASSETS 536,562 215,756
TOTAL ASSETS LESS CURRENT
LIABILITIES

586,791

284,984

PROVISIONS FOR LIABILITIES 4,359 -
NET ASSETS 582,432 284,984

UK Cylinders Limited (Registered number: 12672388)

Balance Sheet - continued
31 December 2023

2023 2022
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 582,332 284,884
SHAREHOLDERS' FUNDS 582,432 284,984

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.

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 16 September 2024 and were signed on its behalf by:




Mr R C Marsden - Director



Mr C C Holroyd - Director


UK Cylinders Limited (Registered number: 12672388)

Notes to the Financial Statements
for the year ended 31 December 2023


1. STATUTORY INFORMATION

UK Cylinders Limited 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 functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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.
Improvements to property - 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Office equipment - 20% on cost

Fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


UK Cylinders Limited (Registered number: 12672388)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 14 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Improvements and Motor Office
to property fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 January 2023 - 514 97,056 15,924 113,494
Additions 6,533 22,428 - 5,342 34,303
Disposals - - (72,461 ) - (72,461 )
At 31 December 2023 6,533 22,942 24,595 21,266 75,336
DEPRECIATION
At 1 January 2023 - 101 38,909 5,256 44,266
Charge for year 232 1,988 15,664 3,524 21,408
Eliminated on disposal - - (40,567 ) - (40,567 )
At 31 December 2023 232 2,089 14,006 8,780 25,107
NET BOOK VALUE
At 31 December 2023 6,301 20,853 10,589 12,486 50,229
At 31 December 2022 - 413 58,147 10,668 69,228

UK Cylinders Limited (Registered number: 12672388)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 2,119,565 1,449,936
Other debtors 20,215 63,278
Called up share capital not paid - 100
Prepayments and accrued income 56,234 37,852
2,196,014 1,551,166

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 109,027 91,572
Amounts owed to related undertakings 174,292 141,817
Tax 280,059 82,011
Social security and other taxes 55,639 43,151
VAT 105,590 56,700
Debt purchase facility 1,326,544 847,290
Directors' loan accounts 400 100,000
Accruals and deferred income 160,476 166,900
2,212,027 1,529,441

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 64,539 33,000
Between one and five years 83,053 -
147,592 33,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Debt purchase facility 1,326,544 847,290

The debt purchase facility is secured by way of a debenture, containing a fixed and floating charges over the assets of the company.

UK Cylinders Limited (Registered number: 12672388)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Nominal 2023 2022
Number: Class: value: £    £   
188 A Ordinary 10p 18.80 18.80
188 B Ordinary 10p 18.80 18.80
63 C Ordinary 10p 6.30 6.30
63 D Ordinary 10p 6.30 6.30
187 E Ordinary 10p 18.70 18.70
187 F Ordinary 10p 18.70 18.70
62 G Ordinary 10p 6.20 6.20
62 H Ordinary 10p 6.20 6.20
100.00 100.00