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REGISTERED NUMBER: 06937946 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30th June 2024

for

Karris Sheet Metal Limited

Karris Sheet Metal Limited (Registered number: 06937946)






Contents of the Financial Statements
for the year ended 30th June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Karris Sheet Metal Limited

Company Information
for the year ended 30th June 2024







DIRECTORS: Mrs I Bailey
Mr J Vincent





REGISTERED OFFICE: Unit 8
Ashley House
Stephenson Way
Thetford
Norfolk
IP24 3RU





REGISTERED NUMBER: 06937946 (England and Wales)





ACCOUNTANTS: TWR Accountants
The Old Registrars
57a High Street
Brandon
Suffolk
IP27 0AU

Karris Sheet Metal Limited (Registered number: 06937946)

Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,892 2,937

CURRENT ASSETS
Stocks 6,000 6,500
Debtors 5 90,010 89,695
Cash at bank and in hand 109,344 133,974
205,354 230,169
CREDITORS
Amounts falling due within one year 6 108,680 133,935
NET CURRENT ASSETS 96,674 96,234
TOTAL ASSETS LESS CURRENT LIABILITIES 100,566 99,171

PROVISIONS FOR LIABILITIES 740 558
NET ASSETS 99,826 98,613

CAPITAL AND RESERVES
Called up share capital 78 78
Capital redemption reserve 7 25 25
Retained earnings 7 99,723 98,510
SHAREHOLDERS' FUNDS 99,826 98,613

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

Karris Sheet Metal Limited (Registered number: 06937946)

Balance Sheet - continued
30th June 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 10th October 2024 and were signed on its behalf by:




Mrs I Bailey - Director



Mr J Vincent - Director


Karris Sheet Metal Limited (Registered number: 06937946)

Notes to the Financial Statements
for the year ended 30th June 2024

1. STATUTORY INFORMATION

Karris Sheet Metal 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.
Plant and machinery etc - 33% on cost, 20% on reducing balance and 15% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Karris Sheet Metal Limited (Registered number: 06937946)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st July 2023 25,274 3,508 613 29,395
Additions 1,902 - - 1,902
At 30th June 2024 27,176 3,508 613 31,297
DEPRECIATION
At 1st July 2023 22,750 3,097 611 26,458
Charge for year 885 62 - 947
At 30th June 2024 23,635 3,159 611 27,405
NET BOOK VALUE
At 30th June 2024 3,541 349 2 3,892
At 30th June 2023 2,524 411 2 2,937

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 81,185 86,766
Other debtors 6,000 -
Prepayments 2,825 2,929
90,010 89,695

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 19,911 29,924
Trade creditors 50,944 49,459
Tax 6,791 18,479
Social security and other taxes 10,592 11,275
VAT 5,963 10,365
Other creditors 12,296 12,819
Directors' current accounts 1,133 639
Accrued expenses 1,050 975
108,680 133,935

Karris Sheet Metal Limited (Registered number: 06937946)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

7. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1st July 2023 98,510 25 98,535
Profit for the year 29,213 29,213
Dividends (28,000 ) (28,000 )
At 30th June 2024 99,723 25 99,748

8. RELATED PARTY DISCLOSURES

During the year the company bought goods totalling £37,598 (2023: £80,928) from Karris Welding Services Limited, a company in which Mrs I Bailey is also a director and shareholder. During the year the company sold goods totalling £17,569 (2023: £9,534) to Karris Welding Services Limited. These transactions were carried out at arms length. At the balance sheet date the company owed £18,577 (2023: £27,566) to Karris Welding Services Limited.



9. ULTIMATE CONTROLLING PARTY

The company was controlled by its directors collectively during the current and previous year.