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REGISTERED NUMBER: 03002690 (England and Wales)








Unaudited Financial Statements

for the Period

1 April 2024 to 31 August 2024

for

Stourbridge Turning & Grinding Limited

Stourbridge Turning & Grinding Limited (Registered number: 03002690)






Contents of the Financial Statements
for the Period 1 April 2024 to 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stourbridge Turning & Grinding Limited

Company Information
for the Period 1 April 2024 to 31 August 2024







DIRECTORS: G E Pargeter
P H Pargeter





SECRETARY: G E Pargeter





REGISTERED OFFICE: Bays 1, 2 and 3
Rufford Road
Stourbridge
West Midlands
DY9 7NE





REGISTERED NUMBER: 03002690 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Stourbridge Turning & Grinding Limited (Registered number: 03002690)

Balance Sheet
31 August 2024

2024 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,199,526
Investments 5 - 12
- 1,199,538

CURRENT ASSETS
Stocks - 51,729
Debtors 6 766,523 390,813
Cash at bank and in hand 956,736 678,895
1,723,259 1,121,437
CREDITORS
Amounts falling due within one year 7 263,236 383,191
NET CURRENT ASSETS 1,460,023 738,246
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,460,023

1,937,784

PROVISIONS FOR LIABILITIES - 282,095
NET ASSETS 1,460,023 1,655,689

CAPITAL AND RESERVES
Called up share capital 104 104
Retained earnings 1,459,919 1,655,585
SHAREHOLDERS' FUNDS 1,460,023 1,655,689

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 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.

Stourbridge Turning & Grinding Limited (Registered number: 03002690)

Balance Sheet - continued
31 August 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 20 September 2024 and were signed on its behalf by:




G E Pargeter - Director



P H Pargeter - Director


Stourbridge Turning & Grinding Limited (Registered number: 03002690)

Notes to the Financial Statements
for the Period 1 April 2024 to 31 August 2024

1. STATUTORY INFORMATION

Stourbridge Turning & Grinding 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 - 10% 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 period 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Stourbridge Turning & Grinding Limited (Registered number: 03002690)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 31 August 2024

2. ACCOUNTING POLICIES - continued

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.

Government grants
Capital grants received are shown in the balance sheet as deferred income and are credited to the profit and loss account by instalments over the useful economic lives of the related assets and on bases consistent with the depreciation policies of those assets.

Revenue grants are offset against the related costs in the profit and loss account as the expense is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 11 (2024 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2024 2,857,965 54,589 2,912,554
Disposals (2,857,965 ) (54,589 ) (2,912,554 )
At 31 August 2024 - - -
DEPRECIATION
At 1 April 2024 1,676,880 36,148 1,713,028
Charge for period 49,212 1,174 50,386
Eliminated on disposal (1,726,092 ) (37,322 ) (1,763,414 )
At 31 August 2024 - - -
NET BOOK VALUE
At 31 August 2024 - - -
At 31 March 2024 1,181,085 18,441 1,199,526

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2024 12
Disposals (12 )
At 31 August 2024 -
NET BOOK VALUE
At 31 August 2024 -
At 31 March 2024 12

Stourbridge Turning & Grinding Limited (Registered number: 03002690)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 31 August 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Trade debtors 468,111 361,337
Amounts owed by group undertakings 298,412 -
Other debtors - 29,476
766,523 390,813

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Trade creditors 92,243 132,814
Amounts owed to group undertakings - 29,251
Taxation and social security 140,160 185,071
Other creditors 30,833 36,055
263,236 383,191