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REGISTERED NUMBER: 09874735 (England and Wales)











Financial Statements

for the Year Ended 30 June 2024

for

Suffolk Stove Enamellers Limited

Suffolk Stove Enamellers Limited (Registered number: 09874735)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Suffolk Stove Enamellers Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: C Ginn
Mrs P A Ginn
M J Ginn
S C Ginn





REGISTERED OFFICE: Oaklands
Woodbridge Road
Bredfield
Woodbridge
Suffolk
IP13 6AW





REGISTERED NUMBER: 09874735 (England and Wales)





ACCOUNTANTS: Knights Lowe Ltd
Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ

Suffolk Stove Enamellers Limited (Registered number: 09874735)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,375 10,875
Tangible assets 5 182,984 187,126
189,359 198,001

CURRENT ASSETS
Debtors 6 24,387 24,044
Cash at bank 165,210 202,542
189,597 226,586
CREDITORS
Amounts falling due within one year 7 31,456 47,738
NET CURRENT ASSETS 158,141 178,848
TOTAL ASSETS LESS CURRENT LIABILITIES 347,500 376,849

CREDITORS
Amounts falling due after more than one
year

8

(92,369

)

(100,503

)

PROVISIONS FOR LIABILITIES (3,033 ) (3,391 )
NET ASSETS 252,098 272,955

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 251,098 271,955
SHAREHOLDERS' FUNDS 252,098 272,955

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Suffolk Stove Enamellers Limited (Registered number: 09874735)

Statement of Financial Position - continued
30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 February 2025 and were signed on its behalf by:





Mrs P A Ginn - Director


Suffolk Stove Enamellers Limited (Registered number: 09874735)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Suffolk Stove Enamellers 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from the treatment and coating of metals is recognised by reference to the stage of completion at the statement of financial position date. Stage of completion is measured by reference to the date the invoice is raised.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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% straight line on buildings
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Land included within freehold property is not depreciated.

Suffolk Stove Enamellers Limited (Registered number: 09874735)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, bank facilities and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 4 (2023 - 4 ) .

Suffolk Stove Enamellers Limited (Registered number: 09874735)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 45,000
AMORTISATION
At 1 July 2023 34,125
Amortisation for year 4,500
At 30 June 2024 38,625
NET BOOK VALUE
At 30 June 2024 6,375
At 30 June 2023 10,875

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023
and 30 June 2024 188,602 12,071 7,250 793 208,716
DEPRECIATION
At 1 July 2023 9,888 7,737 3,172 793 21,590
Charge for year 2,472 650 1,020 - 4,142
At 30 June 2024 12,360 8,387 4,192 793 25,732
NET BOOK VALUE
At 30 June 2024 176,242 3,684 3,058 - 182,984
At 30 June 2023 178,714 4,334 4,078 - 187,126

Included in freehold property is land of £65,000 (2023 - £65,000) which is not depreciated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,387 24,044

Suffolk Stove Enamellers Limited (Registered number: 09874735)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,124 7,790
Trade creditors 3,496 2,382
Taxation and social security 14,033 25,457
Other creditors 5,803 12,109
31,456 47,738

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 92,369 100,503

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalments 56,501 65,225
56,501 65,225

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 100,493 108,293

The bank loan is secured by a fixed and floating charge over all assets of the company and personal guarantees have also been provided by the directors.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
340 Ordinary A 1 340 340
660 Ordinary B 1 660 660
1,000 1,000