Company Registration No. 07486797 (England and Wales)
Easy Composites Ltd
Unaudited accounts
for the year ended 31 January 2024
Easy Composites Ltd
Unaudited accounts
Contents
Easy Composites Ltd
Company Information
for the year ended 31 January 2024
Directors
M J Statham
P H Statham
Company Number
07486797 (England and Wales)
Registered Office
Unit 39 Park Hall Business Village
Longton
Stoke on Trent
Staffordshire
ST3 5XA
Easy Composites Ltd
Statement of financial position
as at 31 January 2024
Tangible assets
143,488
67,291
Inventories
2,352,723
2,224,535
Debtors
1,416,319
1,254,201
Cash at bank and in hand
6,101,643
5,231,980
Creditors: amounts falling due within one year
(2,137,467)
(1,676,704)
Net current assets
7,733,218
7,034,012
Net assets
7,876,707
7,101,304
Called up share capital
100
100
Share premium
155,000
155,000
Profit and loss account
7,721,607
6,946,204
Shareholders' funds
7,876,707
7,101,304
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by
M J Statham
Director
Company Registration No. 07486797
Easy Composites Ltd
Notes to the Accounts
for the year ended 31 January 2024
Easy Composites Ltd is a private company, limited by shares, registered in England and Wales, registration number 07486797. The registered office is Unit 39 Park Hall Business Village, Longton, Stoke on Trent, Staffordshire, ST3 5XA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% straight line
Motor vehicles
25% straight line
Fixtures & fittings
15% straight line
Computer equipment
25% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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Intangible fixed assets
Goodwill
At 1 February 2023
175,000
At 31 January 2024
175,000
At 1 February 2023
174,999
At 31 January 2024
174,999
Easy Composites Ltd
Notes to the Accounts
for the year ended 31 January 2024
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 February 2023
117,262
62,573
106,600
105,058
391,493
Additions
80,933
-
16,674
4,003
101,610
At 31 January 2024
198,195
62,573
123,274
109,061
493,103
At 1 February 2023
79,795
62,573
85,468
96,366
324,202
Charge for the year
17,318
-
4,385
3,710
25,413
At 31 January 2024
97,113
62,573
89,853
100,076
349,615
At 31 January 2024
101,082
-
33,421
8,985
143,488
At 31 January 2023
37,467
-
21,132
8,692
67,291
Amounts falling due within one year
Trade debtors
1,169,814
1,049,924
Accrued income and prepayments
97,154
99,476
Other debtors
149,351
104,801
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
1,095,304
683,427
Amounts owed to group undertakings and other participating interests
707,794
543,481
Taxes and social security
136,445
105,758
Other creditors
76,987
80,661
Loans from directors
202,677
307,043
Easy Composites Group Ltd owns 100% of the issued share capital of the company.
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Average number of employees
During the year the average number of employees was 25 (2023: 25).