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REGISTERED NUMBER: 06373052 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Sarll Metal Products Limited

Sarll Metal Products Limited (Registered number: 06373052)






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


Sarll Metal Products Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: G Sarll
D Irvine





REGISTERED OFFICE: Eldo House
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR





REGISTERED NUMBER: 06373052 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Sarll Metal Products Limited (Registered number: 06373052)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 538,028 426,009
538,028 426,009

CURRENT ASSETS
Stocks 242,478 227,084
Debtors 6 3,119,502 2,885,896
Cash at bank and in hand 233,482 307,066
3,595,462 3,420,046
CREDITORS
Amounts falling due within one year 7 1,980,388 1,828,528
NET CURRENT ASSETS 1,615,074 1,591,518
TOTAL ASSETS LESS CURRENT LIABILITIES 2,153,102 2,017,527

CREDITORS
Amounts falling due after more than one
year

8

(141,323

)

(39,037

)

PROVISIONS FOR LIABILITIES 11 (127,560 ) (99,230 )
NET ASSETS 1,884,219 1,879,260

CAPITAL AND RESERVES
Called up share capital 12 200 200
Retained earnings 1,884,019 1,879,060
SHAREHOLDERS' FUNDS 1,884,219 1,879,260

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.

Sarll Metal Products Limited (Registered number: 06373052)

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 28 February 2025 and were signed on its behalf by:





G Sarll - Director


Sarll Metal Products Limited (Registered number: 06373052)

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

1. STATUTORY INFORMATION

Sarll Metal Products 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, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the company obtains the right to receive consideration in return for its performance under its contracts and excludes value added tax. Work completed during the year that has not been invoiced by the balance sheet date is included as accrued income.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, has been amortised evenly over it's estimated useful life of ten years.

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.
Leasehold improvements - 5 years straight line
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stock and work in progress are valued at the lower of cost together with a proportion of overheads and net realisable value, after making due allowance for obsolete and slow moving items.

Sarll Metal Products Limited (Registered number: 06373052)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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 such as trade and other accounts receivable and payable, and loans from banks or other related parties.

Debt instruments, such as loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

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

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Sarll Metal Products Limited (Registered number: 06373052)

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

Government grants
Grants are recognised on the accruals basis. Revenue grants are recognised in the income statement when the company receives the right to receive them. Grants received in respect of capital expenditure are credited to the profit and loss account over the estimated useful life of the relevant fixed assets with the total grants receivable to date less the amount so far credited to the profit and loss account recognised in creditors.

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2023 - 48 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 720,000
AMORTISATION
At 1 November 2023
and 31 October 2024 720,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

Sarll Metal Products Limited (Registered number: 06373052)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2023 55,586 1,484,545 1,540,131
Additions 7,500 218,310 225,810
Disposals - (72,582 ) (72,582 )
At 31 October 2024 63,086 1,630,273 1,693,359
DEPRECIATION
At 1 November 2023 26,276 1,087,846 1,114,122
Charge for year 8,846 87,208 96,054
Eliminated on disposal - (54,845 ) (54,845 )
At 31 October 2024 35,122 1,120,209 1,155,331
NET BOOK VALUE
At 31 October 2024 27,964 510,064 538,028
At 31 October 2023 29,310 396,699 426,009

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2023 39,000
Additions 197,500
At 31 October 2024 236,500
DEPRECIATION
At 1 November 2023 11,579
Charge for year 30,611
At 31 October 2024 42,190
NET BOOK VALUE
At 31 October 2024 194,310
At 31 October 2023 27,421

Sarll Metal Products Limited (Registered number: 06373052)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,536,472 1,451,724
Amounts owed by group undertakings 1,268,023 1,355,300
Other debtors 315,007 78,872
3,119,502 2,885,896

Included in trade debtors are factored debts of £1,105,709 (2023 - £954,298).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 796,290 340,176
Hire purchase contracts (see note 9) 35,399 7,866
Trade creditors 832,807 728,788
Taxation and social security 276,052 280,483
Other creditors 39,840 471,215
1,980,388 1,828,528

Included in other creditors is an amount owed to the directors.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 7,904 18,214
Hire purchase contracts (see note 9) 133,419 20,823
141,323 39,037

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 35,399 7,866
Between one and five years 133,419 20,823
168,818 28,689

Sarll Metal Products Limited (Registered number: 06373052)

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

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 36,434 103,402
Between one and five years 55,965 85,865
92,399 189,267

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 18,215 28,270
Hire purchase contracts 168,818 28,689
Factoring account 785,979 330,120
973,012 387,079

RBS Invoice Finance Limited have a fixed and floating charge over the assets of the company.

The hire purchase liability is secured against the assets financed.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 127,560 99,230

Deferred
tax
£   
Balance at 1 November 2023 99,230
Movement in provision 28,330
Balance at 31 October 2024 127,560

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary "A" £1 100 100
100 Ordinary "B" £1 100 100
200 200

Sarll Metal Products Limited (Registered number: 06373052)

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

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
G Sarll
Balance outstanding at start of year 1,080 -
Amounts advanced 72,262 46,433
Amounts repaid (9,359 ) (45,353 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 63,983 1,080

D Irvine
Balance outstanding at start of year - -
Amounts advanced 303 -
Amounts repaid (303 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -