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Registered Number: 00371060
England and Wales

 

 

 

HAVANT SHEET METAL COMPANY LIMITED (THE)


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 28 February 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 813,085    797,055 
813,085    797,055 
Current assets      
Stocks 99,098    83,406 
Debtors 599,300    494,332 
Cash at bank and in hand 19,637    21,111 
718,035    598,849 
Creditors: amount falling due within one year (852,517)   (509,987)
Net current assets (134,482)   88,862 
 
Total assets less current liabilities 678,603    885,917 
Creditors: amount falling due after more than one year (190,404)   (286,344)
Provisions for liabilities (143,323)   (148,350)
Net assets 344,876    451,223 
 

Capital and reserves
     
Called up share capital 6,004    6,004 
Profit and loss account 338,872    445,219 
Shareholders' funds 344,876    451,223 
 


For the year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 24 June 2024 and were signed on its behalf by:


-------------------------------
P J Edwards
Director
-------------------------------
P D Rabbetts
Director
1
General Information
Havant Sheet Metal Company Limited (The) is a private company, limited by shares, registered in England and Wales, registration number 00371060, registration address Downley Road, Havant, PO9 2NN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill. The goodwill has been completely amortised.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings                     - Straight line over the life of the lease
Plant and machinery etc            - 25% on reducing balance and 10% on reducing balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 44 (2023 : 42).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 March 2023 600    600 
Additions  
Disposals  
At 28 February 2024 600    600 
Amortisation
At 01 March 2023 600    600 
Charge for year  
On disposals  
At 28 February 2024 600    600 
Net book values
At 28 February 2024  
At 28 February 2023  


4.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 01 March 2023 36,142    1,312,127    1,348,269 
Additions 10,034    106,577    116,611 
Disposals    
At 28 February 2024 46,176    1,418,704    1,464,880 
Depreciation
At 01 March 2023 33,726    517,488    551,214 
Charge for year 5,761    94,820    100,581 
On disposals    
At 28 February 2024 39,487    612,308    651,795 
Net book values
Closing balance as at 28 February 2024 6,689    806,396    813,085 
Opening balance as at 01 March 2023 2,416    794,639    797,055 

The net book value of Plant and machinery etc includes £ 580,968 (2023 £549,878) in respect of assets leased under finance leases or hire purchase contracts.

2