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REGISTERED NUMBER: 03068821 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

CHESHIRE WIRE EROSION LTD

CHESHIRE WIRE EROSION LTD (REGISTERED NUMBER: 03068821)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHESHIRE WIRE EROSION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mrs L C Edwards
D Washington





REGISTERED OFFICE: Unit 3
Plot 7 & 8 Millbuck Way
Springvale Industrial Estate
Sandbach
Cheshire
CW11 3HT





REGISTERED NUMBER: 03068821 (England and Wales)





ACCOUNTANTS: Saxon & Co Accountants Ltd
Chartered Certified Accountants
Kings Chambers
Queens Cross
High Street
Dudley
West Midlands
DY1 1QT

CHESHIRE WIRE EROSION LTD (REGISTERED NUMBER: 03068821)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 413,053 399,388

CURRENT ASSETS
Stocks 11,255 9,478
Debtors 5 225,184 207,935
Cash at bank and in hand 219,610 235,044
456,049 452,457
CREDITORS
Amounts falling due within one year 6 117,457 100,837
NET CURRENT ASSETS 338,592 351,620
TOTAL ASSETS LESS CURRENT
LIABILITIES

751,645

751,008

CREDITORS
Amounts falling due after more than one year 7 (149,593 ) (117,941 )

PROVISIONS FOR LIABILITIES 9 (81,905 ) (76,149 )
NET ASSETS 520,147 556,918

CAPITAL AND RESERVES
Called up share capital 10 220 220
Retained earnings 519,927 556,698
SHAREHOLDERS' FUNDS 520,147 556,918

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.

CHESHIRE WIRE EROSION LTD (REGISTERED NUMBER: 03068821)

BALANCE SHEET - 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 24 March 2025 and were signed on its behalf by:





Mrs L C Edwards - Director


CHESHIRE WIRE EROSION LTD (REGISTERED NUMBER: 03068821)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Cheshire Wire Erosion Ltd 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.

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.

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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.

CHESHIRE WIRE EROSION LTD (REGISTERED NUMBER: 03068821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2023 1,470,821 88,808 91,281 1,650,910
Additions 113,353 3,576 - 116,929
At 30 June 2024 1,584,174 92,384 91,281 1,767,839
DEPRECIATION
At 1 July 2023 1,166,867 66,399 18,256 1,251,522
Charge for year 83,462 5,197 14,605 103,264
At 30 June 2024 1,250,329 71,596 32,861 1,354,786
NET BOOK VALUE
At 30 June 2024 333,845 20,788 58,420 413,053
At 30 June 2023 303,954 22,409 73,025 399,388

CHESHIRE WIRE EROSION LTD (REGISTERED NUMBER: 03068821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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
Additions 102,000
At 30 June 2024 102,000
DEPRECIATION
Charge for year 20,400
At 30 June 2024 20,400
NET BOOK VALUE
At 30 June 2024 81,600

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 215,571 205,602
Other debtors 9,613 2,333
225,184 207,935

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 54,012 30,571
Trade creditors 12,782 24,805
Tax 19,789 11,121
Social security and other taxes 11,068 6,772
VAT 8,056 23,525
Other creditors 9,050 -
Accrued expenses 2,700 4,043
117,457 100,837

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 149,593 117,941

CHESHIRE WIRE EROSION LTD (REGISTERED NUMBER: 03068821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Gross obligations repayable:
Within one year 67,236 40,042
Between one and five years 161,383 128,906
228,619 168,948

Finance charges repayable:
Within one year 13,224 9,471
Between one and five years 11,790 10,965
25,014 20,436

Net obligations repayable:
Within one year 54,012 30,571
Between one and five years 149,593 117,941
203,605 148,512

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 81,905 76,149

Deferred
tax
£   
Balance at 1 July 2023 76,149
Charge to Statement of Income and Retained Earnings during year 5,756
Balance at 30 June 2024 81,905

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
120 Ordinary 'A' £1 120 120
50 Ordinary 'B' £1 50 50
50 Ordinary 'C' £1 50 50
220 220

CHESHIRE WIRE EROSION LTD (REGISTERED NUMBER: 03068821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs L C Edwards.