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REGISTERED NUMBER: 03484572 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Norwood Metals Limited

Norwood Metals Limited (Registered number: 03484572)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 7

Norwood Metals Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: B Hull
Mrs L Hull
J R Hull
J Hull





SECRETARY: Mrs L Hull





REGISTERED OFFICE: Norwood Industrial Estate
Ellisons Road, Killamarsh
Sheffield
S21 2JG





REGISTERED NUMBER: 03484572 (England and Wales)





ACCOUNTANTS: Hewson & Howson
8 Shepcote Office Village
Shepcote Lane
Sheffield
South Yorkshire
S9 1TG

Norwood Metals Limited (Registered number: 03484572)

Statement of Financial Position
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 818,136 805,584

CURRENT ASSETS
Stocks 75,000 90,000
Debtors 5 2,115,172 2,560,059
Cash at bank and in hand 1,422,474 861,254
3,612,646 3,511,313
CREDITORS
Amounts falling due within one year 6 384,791 402,859
NET CURRENT ASSETS 3,227,855 3,108,454
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,045,991

3,914,038

PROVISIONS FOR LIABILITIES 182,352 178,606
NET ASSETS 3,863,639 3,735,432

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 7 3,863,637 3,735,430
SHAREHOLDERS' FUNDS 3,863,639 3,735,432

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

Norwood Metals Limited (Registered number: 03484572)

Statement of Financial Position - continued
31st March 2024


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 28th June 2024 and were signed on its behalf by:





B Hull - Director


Norwood Metals Limited (Registered number: 03484572)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Norwood Metals 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.
Improvements to property - not provided
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

No depreciation is charged on the Improvements to Freehold Property on the basis that these premises are maintained to a high standard and their projected residual value exceeds original cost. A depreciation charge of £1,550 per annum would arise if they were written off straight line over a period of fifty years.


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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Norwood Metals Limited (Registered number: 03484572)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st April 2023 77,715 1,591,703 6,260 548,290 2,223,968
Additions - 147,679 - - 147,679
At 31st March 2024 77,715 1,739,382 6,260 548,290 2,371,647
DEPRECIATION
At 1st April 2023 - 868,299 5,699 544,386 1,418,384
Charge for year - 130,662 561 3,904 135,127
At 31st March 2024 - 998,961 6,260 548,290 1,553,511
NET BOOK VALUE
At 31st March 2024 77,715 740,421 - - 818,136
At 31st March 2023 77,715 723,404 561 3,904 805,584

During the year ended 31 March 2015 the directors transferred title to the freehold land on which the business operates from themselves to the company. This was done by way of gift and so no cost is attributed above.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 387,169 821,820
Other debtors 1,728,003 1,738,239
2,115,172 2,560,059

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 247,174 290,541
Taxation and social security 127,440 107,818
Other creditors 10,177 4,500
384,791 402,859

Norwood Metals Limited (Registered number: 03484572)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

7. RESERVES
Retained
earnings
£   

At 1st April 2023 3,735,430
Profit for the year 128,207
At 31st March 2024 3,863,637

8. CONTINGENT LIABILITIES

The directors have considered the likely costs arising in the event of there being an incident of site contamination; having regard to the risks involved, together with the nature of both the site itself and the materials stored, they consider no provision is required because the amounts involved are immaterial.

Norwood Metals Limited

Report of the Accountants to the Directors of
Norwood Metals Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31st March 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Hewson & Howson
8 Shepcote Office Village
Shepcote Lane
Sheffield
South Yorkshire
S9 1TG


28th June 2024