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REGISTERED NUMBER: 04104096 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NORWOOD SHOTBLASTING LIMITED

NORWOOD SHOTBLASTING LIMITED (REGISTERED NUMBER: 04104096)

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


NORWOOD SHOTBLASTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: J Downing





REGISTERED OFFICE: Unit 1
Norwood Industrial Estate
Killamarsh
Sheffield
South Yorkshire
S21 2JU





REGISTERED NUMBER: 04104096 (England and Wales)





ACCOUNTANTS: Drury & Co
Accountants & Business Advisors
21 Hollowgate
Rotherham
South Yorkshire
S60 2LE

NORWOOD SHOTBLASTING LIMITED (REGISTERED NUMBER: 04104096)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 315,546 407,008
Investments 5 100 100
315,646 407,108

CURRENT ASSETS
Stocks 6 2,000 2,000
Debtors 7 3,650 -
Cash at bank 46,084 28,620
51,734 30,620
CREDITORS
Amounts falling due within one year 8 111,543 147,373
NET CURRENT LIABILITIES (59,809 ) (116,753 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

255,837

290,355

CREDITORS
Amounts falling due after more than one
year

9

87,734

145,839
NET ASSETS 168,103 144,516

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 168,003 144,416
SHAREHOLDERS' FUNDS 168,103 144,516

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 director acknowledges his 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.

NORWOOD SHOTBLASTING LIMITED (REGISTERED NUMBER: 04104096)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director and authorised for issue on 24 September 2024 and were signed by:





J Downing - Director


NORWOOD SHOTBLASTING LIMITED (REGISTERED NUMBER: 04104096)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Norwood Shotblasting 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 30% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

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.

NORWOOD SHOTBLASTING LIMITED (REGISTERED NUMBER: 04104096)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 379,969 92,012 11,553 51,249 534,783
Additions - - 2,000 17,300 19,300
Disposals (98,699 ) - - - (98,699 )
At 31 December 2023 281,270 92,012 13,553 68,549 455,384
DEPRECIATION
At 1 January 2023 - 81,615 7,894 38,266 127,775
Charge for year - 3,122 1,416 7,525 12,063
At 31 December 2023 - 84,737 9,310 45,791 139,838
NET BOOK VALUE
At 31 December 2023 281,270 7,275 4,243 22,758 315,546
At 31 December 2022 379,969 10,397 3,659 12,983 407,008

NORWOOD SHOTBLASTING LIMITED (REGISTERED NUMBER: 04104096)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 38,250
Transfer to ownership (38,250 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 26,590
Transfer to ownership (26,590 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 11,660

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 100

6. STOCKS
2023 2022
£    £   
Finished goods 2,000 2,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,650 -

NORWOOD SHOTBLASTING LIMITED (REGISTERED NUMBER: 04104096)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,880 16,462
Finance leases - 4,850
Trade creditors - 4,353
Taxation and social security 35,300 33,087
Other creditors 64,363 88,621
111,543 147,373

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 87,734 145,031
Finance leases - 808
87,734 145,839

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the reporting date, the company was indebted to the director in the sum of £61,502 (2022: £85,437)