Registration number:
Tewkesbury (Diamond Chrome) Plating Co Ltd
for the Year Ended 30 June 2024
Tewkesbury (Diamond Chrome) Plating Co Ltd
Contents
Company Information |
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Directors' Report |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Tewkesbury (Diamond Chrome) Plating Co Ltd
Company Information
Directors |
Mrs A Opperman M Opperman P A E Opperman G Todd |
Registered office |
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Accountants |
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Tewkesbury (Diamond Chrome) Plating Co Ltd
Directors' Report for the Year Ended 30 June 2024
The directors present their report and the abridged financial statements for the year ended 30 June 2024.
Directors of the company
The directors who held office during the year were as follows:
The following director was appointed after the year end:
Principal activity
The principal activity of the company is treatment and coating of metals.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Tewkesbury (Diamond Chrome) Plating Co Ltd
(Registration number: 04012467)
Abridged Balance Sheet as at 30 June 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Accruals and deferred income |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
300,000 |
300,000 |
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Capital redemption reserve |
50,000 |
50,000 |
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Revaluation reserve |
83,329 |
83,329 |
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Retained earnings |
387,542 |
303,734 |
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Shareholders' funds |
820,871 |
737,063 |
Tewkesbury (Diamond Chrome) Plating Co Ltd
(Registration number: 04012467)
Abridged Balance Sheet as at 30 June 2024
For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
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Tewkesbury (Diamond Chrome) Plating Co Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tewkesbury (Diamond Chrome) Plating Co Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land and buildings |
Straight line 1% |
Plant and machinery |
Reducing balance 15% |
Motor vehicles |
Reducing balance 25% |
Furniture and fittings |
Straight line 20% |
Office equipment |
Straight line 33.33% |
Investments
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Tewkesbury (Diamond Chrome) Plating Co Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
2024 |
2023 |
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Depreciation expense |
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Tewkesbury (Diamond Chrome) Plating Co Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024
Tangible assets |
Land and buildings |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
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Cost or valuation |
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At 1 July 2023 |
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Additions |
- |
- |
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Disposals |
- |
- |
- |
( |
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At 30 June 2024 |
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Depreciation |
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At 1 July 2023 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
- |
( |
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At 30 June 2024 |
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Carrying amount |
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At 30 June 2024 |
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At 30 June 2023 |
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Total |
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Cost or valuation |
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At 1 July 2023 |
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Additions |
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Disposals |
( |
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At 30 June 2024 |
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Depreciation |
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At 1 July 2023 |
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Charge for the year |
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Eliminated on disposal |
( |
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At 30 June 2024 |
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Carrying amount |
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At 30 June 2024 |
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At 30 June 2023 |
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Included within the net book value of land and buildings above is £384,016 (2023 - £388,012) in respect of freehold land and buildings.
Tewkesbury (Diamond Chrome) Plating Co Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024
Investments |
Total |
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Cost or valuation |
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At 1 July 2023 |
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Disposals |
( |
At 30 June 2024 |
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Provision |
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Carrying amount |
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At 30 June 2024 |
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At 30 June 2023 |
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2024 |
2023 |
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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Hunt House Farm, Frith Common, Tenbury wells, Worcester, Worcestershire, WR15 8JY England |
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Subsidiary undertakings |
Strikezone Peening Ltd The principal activity of Strikezone Peening Ltd is |
Stocks |
2024 |
2023 |
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Other inventories |
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Tewkesbury (Diamond Chrome) Plating Co Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024
Debtors |
Debtors includes £Nil (2023 - £Nil) due after more than one year.
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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300,000 |
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300,000 |
Dividends |
Interim dividends paid
2024 |
2023 |
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Interim dividend of £ |
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