5 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 07011966 2023-10-01 2024-09-30 07011966 2024-09-30 07011966 2023-09-30 07011966 2022-10-01 2023-09-30 07011966 2023-09-30 07011966 2022-09-30 07011966 core:PlantMachinery 2023-10-01 2024-09-30 07011966 core:FurnitureFittings 2023-10-01 2024-09-30 07011966 core:MotorVehicles 2023-10-01 2024-09-30 07011966 bus:LeadAgentIfApplicable 2023-10-01 2024-09-30 07011966 bus:Director2 2023-10-01 2024-09-30 07011966 core:WithinOneYear 2024-09-30 07011966 core:WithinOneYear 2023-09-30 07011966 core:ShareCapital 2024-09-30 07011966 core:ShareCapital 2023-09-30 07011966 core:RetainedEarningsAccumulatedLosses 2024-09-30 07011966 core:RetainedEarningsAccumulatedLosses 2023-09-30 07011966 bus:Director1 2023-10-01 2024-09-30 07011966 bus:SmallEntities 2023-10-01 2024-09-30 07011966 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 07011966 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 07011966 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07011966 bus:AbridgedAccounts 2023-10-01 2024-09-30
STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS
All of the members of Staffordshire Powder Coating Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 07011966
STAFFORDSHIRE POWDER COATING LIMITED
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 September 2024
STAFFORDSHIRE POWDER COATING LIMITED
REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF STAFFORDSHIRE POWDER COATING LIMITED
YEAR ENDED 30 SEPTEMBER 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Staffordshire Powder Coating Limited for the year ended 30 September 2024, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.
LANGARD LIFFORD HALL LIMITED Accountants and Registered Auditors
Lifford Hall Lifford Lane Kings Norton Birmingham B30 3JN
26 February 2025
STAFFORDSHIRE POWDER COATING LIMITED
ABRIDGED STATEMENT OF FINANCIAL POSITION
30 September 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
56,555
47,407
Current assets
Stocks
5,588
7,655
Debtors
33,889
24,171
Cash at bank and in hand
185,994
319,539
------------
------------
225,471
351,365
Creditors: amounts falling due within one year
202,002
260,614
------------
------------
Net current assets
23,469
90,751
------------
------------
Total assets less current liabilities
80,024
138,158
------------
------------
Net assets
80,024
138,158
------------
------------
Capital and reserves
Called up share capital
10
10
Profit and loss account
80,014
138,148
------------
------------
Shareholders funds
80,024
138,158
------------
------------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
STAFFORDSHIRE POWDER COATING LIMITED
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)
30 September 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 26 February 2025 , and are signed on behalf of the board by:
I S Locker
Director
Company registration number: 07011966
STAFFORDSHIRE POWDER COATING LIMITED
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 90 Blythe Business Park, Sandon Road, Cresswell, Stoke on Trent, ST11 9RD.
2. Statement of Compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixture and fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Tenants improvements
-
No depreciation
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured 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 the stock to its present location and condition.
Financial instruments
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 entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Tangible Assets
£
Cost
At 1 October 2023
200,561
Additions
27,999
------------
At 30 September 2024
228,560
------------
Depreciation
At 1 October 2023
153,154
Charge for the year
18,851
------------
At 30 September 2024
172,005
------------
Carrying amount
At 30 September 2024
56,555
------------
At 30 September 2023
47,407
------------
6. Directors' Advances, Credits and Guarantees
Amounts owed to the director at the balance sheet date are included in creditors and totalled £44,028. (2023: £60,384).