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Company No: 05748962 (England and Wales)

SCOTT BUTTERWORTH ONSITE MACHINING LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

SCOTT BUTTERWORTH ONSITE MACHINING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

SCOTT BUTTERWORTH ONSITE MACHINING LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
SCOTT BUTTERWORTH ONSITE MACHINING LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
DIRECTORS S Butterworth
H Butterworth
SECRETARY H Butterworth
REGISTERED OFFICE 5 Lower House Green
Lumb
Rossendale
Lancashire
BB4 9UH
United Kingdom
COMPANY NUMBER 05748962 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
SCOTT BUTTERWORTH ONSITE MACHINING LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024
SCOTT BUTTERWORTH ONSITE MACHINING LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 62,596 25,721
62,596 25,721
Current assets
Debtors 4 223 894
Cash at bank and in hand 22,746 24,824
22,969 25,718
Creditors: amounts falling due within one year 5 ( 50,721) ( 42,827)
Net current liabilities (27,752) (17,109)
Total assets less current liabilities 34,844 8,612
Creditors: amounts falling due after more than one year 6 ( 5,967) 0
Net assets 28,877 8,612
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 28,875 8,610
Total shareholders' funds 28,877 8,612

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Scott Butterworth Onsite Machining Limited (registered number: 05748962) were approved and authorised for issue by the Board of Directors on 20 November 2024. They were signed on its behalf by:

S Butterworth
Director
SCOTT BUTTERWORTH ONSITE MACHINING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
SCOTT BUTTERWORTH ONSITE MACHINING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Scott Butterworth Onsite Machining Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5 Lower House Green, Lumb, Rossendale, Lancashire, BB4 9UH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 15 - 25 % reducing balance
Computer equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 April 2023 47,635 9,096 56,731
Additions 52,921 0 52,921
Disposals ( 26,140) 0 ( 26,140)
At 31 March 2024 74,416 9,096 83,512
Accumulated depreciation
At 01 April 2023 23,161 7,849 31,010
Charge for the financial year 10,368 250 10,618
Disposals ( 20,712) 0 ( 20,712)
At 31 March 2024 12,817 8,099 20,916
Net book value
At 31 March 2024 61,599 997 62,596
At 31 March 2023 24,474 1,247 25,721

4. Debtors

2024 2023
£ £
Prepayments 223 60
Other debtors 0 834
223 894

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 33,725 32,066
Other loans 4,689 0
Accruals 3,500 3,000
Taxation and social security 6,492 7,761
Obligations under finance leases and hire purchase contracts 2,315 0
50,721 42,827

Assets held under finance leases amounting to £2,315 are secured on the assets to which they relate.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 5,967 0

Assets held under finance leases amounting to £5,967 are secured on the assets to which they relate.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2