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REGISTERED NUMBER: 01040150 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

ERODATOOLS LIMITED

ERODATOOLS LIMITED (REGISTERED NUMBER: 01040150)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ERODATOOLS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr K J Rolfe
Mrs C Dixon
Ms C Healey
Mr C Rolfe



SECRETARY: Mr K J Rolfe



REGISTERED OFFICE: Unit 4
Laurence Works
Sheffield Road
Penistone
South Yorkshire
S36 6HE



REGISTERED NUMBER: 01040150 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: HSBC Bank PLC
5 Market Hill
Barnsley
South Yorkshire
S70 2PY

ERODATOOLS LIMITED (REGISTERED NUMBER: 01040150)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,046,798 1,063,814

CURRENT ASSETS
Stocks 500 2,000
Debtors 5 178,593 218,819
179,093 220,819
CREDITORS
Amounts falling due within one year 6 369,135 463,694
NET CURRENT LIABILITIES (190,042 ) (242,875 )
TOTAL ASSETS LESS CURRENT LIABILITIES 856,756 820,939

CREDITORS
Amounts falling due after more than
one year

7

(269,191

)

(306,956

)

PROVISIONS FOR LIABILITIES (213,565 ) (175,094 )
NET ASSETS 374,000 338,889

CAPITAL AND RESERVES
Called up share capital 9 100 100
Capital redemption reserve 50 50
Retained earnings 373,850 338,739
SHAREHOLDERS' FUNDS 374,000 338,889

ERODATOOLS LIMITED (REGISTERED NUMBER: 01040150)

BALANCE SHEET - continued
31 MAY 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2025 and were signed on its behalf by:





Mr K J Rolfe - Director


ERODATOOLS LIMITED (REGISTERED NUMBER: 01040150)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Erodatools 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover from the sale of spark erosion services is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Capital and revenue grants
Capital grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate.

ERODATOOLS LIMITED (REGISTERED NUMBER: 01040150)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold property- Not depreciated and carried at cost
Plant and machinery- 10% on reducing balance
Office equipment and fittings- 10% on reducing balance
Motor vehicles- 25% on reducing balance

Depreciation is not provided on freehold buildings as the company has incurred expenditure on maintenance which, in the opinion of the directors, has the effect of ensuring the useful economic life is not diminished.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


ERODATOOLS LIMITED (REGISTERED NUMBER: 01040150)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

ERODATOOLS LIMITED (REGISTERED NUMBER: 01040150)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Office
equipment
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2023 181,900 1,604,537 41,447 3,500 1,831,384
Additions - 69,837 1,960 - 71,797
At 31 May 2024 181,900 1,674,374 43,407 3,500 1,903,181
DEPRECIATION
At 1 June 2023 - 742,185 22,106 3,279 767,570
Charge for year - 86,639 2,119 55 88,813
At 31 May 2024 - 828,824 24,225 3,334 856,383
NET BOOK VALUE
At 31 May 2024 181,900 845,550 19,182 166 1,046,798
At 31 May 2023 181,900 862,352 19,341 221 1,063,814

ERODATOOLS LIMITED (REGISTERED NUMBER: 01040150)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 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 June 2023 704,755
Reclassification/transfer 404,750
At 31 May 2024 1,109,505
DEPRECIATION
At 1 June 2023 177,024
Charge for year 52,773
Reclassification/transfer 258,944
At 31 May 2024 488,741
NET BOOK VALUE
At 31 May 2024 620,764
At 31 May 2023 527,731

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 160,529 202,487
Amounts recoverable on contract 7,536 5,735
Other debtors 114 15
Prepayments and accrued income 10,414 10,582
178,593 218,819

ERODATOOLS LIMITED (REGISTERED NUMBER: 01040150)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank overdrafts 53,631 54,558
Other loans 57,476 63,950
Hire purchase contracts 94,037 91,220
Trade creditors 44,716 65,670
Social security and other taxes 5,216 7,955
VAT 23,636 82,058
Other creditors 703 110
Directors' current accounts 84,616 93,194
Accruals and deferred income 5,104 4,979
369,135 463,694

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Other loans - 1-2 years 35,958 57,476
Other loans - 2-5 years - 35,958
Hire purchase contracts 228,646 207,250
Accruals and deferred income 4,587 6,272
269,191 306,956

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank overdrafts 53,631 54,558
Hire purchase contracts 322,683 298,470
376,314 353,028

The bank overdraft is secured against the company's assets.

The hire purchase contracts are secured against the fixed assets to which they relate.

ERODATOOLS LIMITED (REGISTERED NUMBER: 01040150)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
80 A Ordinary £1 80 80
5 B Ordinary £1 5 5
5 C Ordinary £1 5 5
5 D Ordinary £1 5 5
5 E Ordinary £1 5 5
100 100