Company Registration No. 07926469 (England and Wales)
Sticky Baits Ltd
Unaudited accounts
for the year ended 31 January 2024
Sticky Baits Ltd
Unaudited accounts
Contents
Sticky Baits Ltd
Company Information
for the year ended 31 January 2024
Director
Thomas James Anderson
Company Number
07926469 (England and Wales)
Registered Office
Unit 2 North Lynton
Main Road, Newland
Goole
East Yorkshire
DN14 7XF
United Kingdom
Sticky Baits Ltd
Statement of financial position
as at 31 January 2024
Tangible assets
1,752,662
1,663,612
Inventories
1,428,233
1,449,655
Debtors
1,676,704
1,606,611
Cash at bank and in hand
249,013
80,263
Creditors: amounts falling due within one year
(374,473)
(453,950)
Net current assets
2,979,477
2,682,579
Total assets less current liabilities
4,732,139
4,346,191
Provisions for liabilities
Deferred tax
(123,614)
(82,520)
Net assets
4,608,525
4,263,671
Called up share capital
10,000
10,000
Profit and loss account
4,598,525
4,253,671
Shareholders' funds
4,608,525
4,263,671
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 director acknowledges his 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 and authorised for issue on 31 October 2024 and were signed on its behalf by
Thomas James Anderson
Director
Company Registration No. 07926469
Sticky Baits Ltd
Notes to the Accounts
for the year ended 31 January 2024
Sticky Baits Ltd is a private company, limited by shares, registered in England and Wales, registration number 07926469. The registered office is Unit 2 North Lynton, Main Road, Newland, Goole, East Yorkshire, DN14 7XF, United Kingdom.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Land & buildings
(Improvements to property) - 10% and 20% on cost
Plant & machinery
- 20% on reducing balance
Motor vehicles
- 33% on reducing balance
Fixtures & fittings
- 15% on reducing balance
Computer equipment
- 50% on reducing balance
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Sticky Baits Ltd
Notes to the Accounts
for the year ended 31 January 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 February 2023
1,434,139
760,612
127,017
117,398
203,838
2,643,004
Additions
-
166,404
104,492
16,518
18,397
305,811
At 31 January 2024
1,434,139
927,016
231,509
133,916
222,235
2,948,815
At 1 February 2023
230,228
451,506
66,381
64,294
166,983
979,392
Charge for the year
66,733
74,900
41,596
9,070
24,462
216,761
At 31 January 2024
296,961
526,406
107,977
73,364
191,445
1,196,153
At 31 January 2024
1,137,178
400,610
123,532
60,552
30,790
1,752,662
At 31 January 2023
1,203,911
309,106
60,636
53,104
36,855
1,663,612
Amounts falling due within one year
Trade debtors
586,658
434,247
Accrued income and prepayments
74,526
70,454
Other debtors
133,988
75,763
Amounts falling due after more than one year
Other debtors
881,532
1,026,147
Sticky Baits Ltd
Notes to the Accounts
for the year ended 31 January 2024
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
101,941
151,683
Taxes and social security
177,903
41,732
Other creditors
2,794
2,906
7
Operating lease commitments
2024
2023
At 31 January 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
97,500
97,500
Later than one year and not later than five years
331,875
390,000
Later than five years
-
136,875
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Advances, Credits and Guarantees
39,064
-
-
39,064
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Average number of employees
During the year the average number of employees was 30 (2023: 30).