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REGISTERED NUMBER: 02979578 (England and Wales)















COIL PROCESSING SERVICES LIMITED

Unaudited Financial Statements for the Year Ended 31 October 2024






COIL PROCESSING SERVICES LIMITED (REGISTERED NUMBER: 02979578)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COIL PROCESSING SERVICES LIMITED

Company Information
for the Year Ended 31 October 2024







DIRECTORS: R S O'Grady
A R O'Grady
Mrs S O'Grady





SECRETARY: Mrs S O'Grady





REGISTERED OFFICE: Springhill Works
Dolton Way
Off Factory Road
Tipton
West Midlands
DY4 9AW





REGISTERED NUMBER: 02979578 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

COIL PROCESSING SERVICES LIMITED (REGISTERED NUMBER: 02979578)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 201,065 209,317

CURRENT ASSETS
Debtors 5 100,939 5,406
Cash at bank 9,801 11,980
110,740 17,386
CREDITORS
Amounts falling due within one year 6 336,813 199,358
NET CURRENT LIABILITIES (226,073 ) (181,972 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(25,008

)

27,345

CREDITORS
Amounts falling due after more than one
year

7

(5,193

)

(13,215

)

PROVISIONS FOR LIABILITIES 9 (341 ) (1,107 )
NET (LIABILITIES)/ASSETS (30,542 ) 13,023

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 (30,642 ) 12,923
SHAREHOLDERS' FUNDS (30,542 ) 13,023

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

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

COIL PROCESSING SERVICES LIMITED (REGISTERED NUMBER: 02979578)

Balance Sheet - continued
31 October 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 21 January 2025 and were signed on its behalf by:





R S O'Grady - Director


COIL PROCESSING SERVICES LIMITED (REGISTERED NUMBER: 02979578)

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

1. STATUTORY INFORMATION

Coil Processing Services 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

COIL PROCESSING SERVICES LIMITED (REGISTERED NUMBER: 02979578)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 November 2023
and 31 October 2024 379,410 134,676 10,930 9,759 534,775
DEPRECIATION
At 1 November 2023 174,524 130,887 10,288 9,759 325,458
Charge for year 7,588 568 96 - 8,252
At 31 October 2024 182,112 131,455 10,384 9,759 333,710
NET BOOK VALUE
At 31 October 2024 197,298 3,221 546 - 201,065
At 31 October 2023 204,886 3,789 642 - 209,317

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 939 (13,461 )
Directors' current accounts 100,000 -
Prepayments - 18,867
100,939 5,406

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,000 8,000
Trade creditors 1,559 1,553
Corporation tax 26,220 14,349
Social security and other taxes 33,830 22,363
Other creditors 255,890 141,490
Directors' current accounts - 289
Accrued expenses 11,314 11,314
336,813 199,358

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,193 8,000
Bank loans - 2-5 years - 5,215
5,193 13,215

COIL PROCESSING SERVICES LIMITED (REGISTERED NUMBER: 02979578)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 13,193 21,215

The bank loan and overdraft are secured by a fixed charge over property and a floating charge over all fixed assets, goodwill and other assets.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 341 1,107

Deferred
tax
£   
Balance at 1 November 2023 1,107
Accelerated capital allowances (766 )
Balance at 31 October 2024 341

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
40 Ordinary A £1 40 40
40 Ordinary B £1 40 40
20 Ordinary C £1 20 20
100 100

11. RESERVES
Retained
earnings
£   

At 1 November 2023 12,923
Profit for the year 70,534
Dividends (114,099 )
At 31 October 2024 (30,642 )

COIL PROCESSING SERVICES LIMITED (REGISTERED NUMBER: 02979578)

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

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
R S O'Grady
Balance outstanding at start of year - -
Amounts advanced 100,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 100,000 -