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File

Registration number: 05307287

Maldon Shot Blasting & Powder Coating Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Maldon Shot Blasting & Powder Coating Ltd

Contents

Company Information

1

Accountants' Report

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5

Detailed Profit and Loss Account

6 to 8

 

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

Unit 2a
Benbridge Industrial Estate
Heybridge
Maldon
Essex
CM9 4ER

Bankers

NatWest Bank Plc
36 High Street
Maldon
Essex
CM9 5PW

Accountants

Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

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.

......................................

Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

16 September 2024

 

Maldon Shot Blasting & Powder Coating Ltd

Profit and Loss Account for the Year Ended 29 February 2024

2024
£

2023
£

Turnover

311,884

304,760

Other income

2,794

12

Cost of raw materials and consumables

(29,111)

(25,025)

Staff costs

(145,174)

(133,875)

Depreciation and other amounts written off assets

(12,443)

(17,295)

Other charges

(95,434)

(88,980)

Profit before tax

32,516

39,597

Tax on profit

(10,064)

(5,376)

Profit for the year

22,452

34,221

 

Maldon Shot Blasting & Powder Coating Ltd

(Registration number: 05307287)
Balance Sheet as at 29 February 2024

2024
£

2023
£

Fixed assets

38,822

51,885

Current assets

194,096

183,243

Prepayments and accrued income

6,551

3,524

Creditors: Amounts falling due within one year

(106,462)

(98,435)

Net current assets

94,185

88,332

Total assets less current liabilities

133,007

140,217

Creditors: Amounts falling due after more than one year

(7,084)

(12,408)

Accruals and deferred income

(1,867)

(2,205)

 

124,056

125,604

Capital and reserves

124,056

125,604

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 16 September 2024 and signed on its behalf by:
 

.........................................

Mr T Lodge
Director

 

Maldon Shot Blasting & Powder Coating Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is Unit 2a, Benbridge Industrial Estate, Heybridge, Maldon, Essex, CM9 4ER

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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

3

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

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

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

Bank interest receivable

2,794

12

   

Interest payable and similar expenses

BBL interest payable

400

520