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REGISTERED NUMBER: 11049055 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Staffs Laser Limited

Staffs Laser Limited (Registered number: 11049055)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Staffs Laser Limited (Registered number: 11049055)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 545,048 285,662

CURRENT ASSETS
Stocks 453,175 357,549
Debtors 5 1,220,701 1,174,276
Cash at bank 442,327 341,454
2,116,203 1,873,279
CREDITORS
Amounts falling due within one year 6 1,634,204 1,292,439
NET CURRENT ASSETS 481,999 580,840
TOTAL ASSETS LESS CURRENT LIABILITIES 1,027,047 866,502

CREDITORS
Amounts falling due after more than one year 7 (221,063 ) (85,104 )

PROVISIONS FOR LIABILITIES (131,484 ) (61,332 )
NET ASSETS 674,500 720,066

CAPITAL AND RESERVES
Called up share capital 75 75
Capital redemption reserve 25 25
Retained earnings 674,400 719,966
SHAREHOLDERS' FUNDS 674,500 720,066

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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:



Mr E Hopkins - Director


Staffs Laser Limited (Registered number: 11049055)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Staffs Laser Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11049055

Registered office: Ebenezer House
Ryecroft
Newcastle-Under-Lyme
Staffordshire
ST5 2BE

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

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 year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Staffs Laser Limited (Registered number: 11049055)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 31 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 417,041 113,424 32,821 563,286
Additions 381,417 25,490 9,490 416,397
Disposals (29,359 ) (57,060 ) - (86,419 )
At 31 March 2024 769,099 81,854 42,311 893,264
DEPRECIATION
At 1 April 2023 199,886 56,653 21,085 277,624
Charge for year 86,809 11,427 6,656 104,892
Eliminated on disposal - (34,300 ) - (34,300 )
At 31 March 2024 286,695 33,780 27,741 348,216
NET BOOK VALUE
At 31 March 2024 482,404 48,074 14,570 545,048
At 31 March 2023 217,155 56,771 11,736 285,662

Staffs Laser Limited (Registered number: 11049055)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023 112,000
Additions 290,000
Transfer to ownership (45,000 )
At 31 March 2024 357,000
DEPRECIATION
At 1 April 2023 98,600
Charge for year 23,066
Transfer to ownership (45,000 )
At 31 March 2024 76,666
NET BOOK VALUE
At 31 March 2024 280,334
At 31 March 2023 13,400

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,126,844 1,091,047
Other debtors 93,857 83,229
1,220,701 1,174,276

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,379 19,957
Hire purchase contracts 95,663 32,023
Trade creditors 639,798 484,325
Taxation and social security 102,370 213,514
Other creditors 781,994 542,620
1,634,204 1,292,439

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 12,237 26,616
Hire purchase contracts 208,826 43,488
Other creditors - 15,000
221,063 85,104

Staffs Laser Limited (Registered number: 11049055)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 304,489 75,511
Close Bros Invoice Financing 772,930 530,360
1,077,419 605,871

The hire purchase is secured against the asset being financed.

Close Brothers hold fixed and floating charges over all of the property and undertakings of the company.

9. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies not included in the balance sheet amount to £762,701 (2023 £1,143,081). This financial commitment represents the total amount of payments remaining on leases ending between 2024 and 2026.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr E Hopkins
Balance outstanding at start of year 22,135 (27,948 )
Amounts advanced 40,494 50,083
Amounts repaid (40,494 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,135 22,135