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REGISTERED NUMBER: 00216529 (England and Wales)










Strategic Report, Report of the Directors and

Financial Statements

For The Year Ended 30 September 2024

for

Stroud Metal Company Limited

Stroud Metal Company Limited (Registered number: 00216529)






Contents of the Financial Statements
For The Year Ended 30 September 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


Stroud Metal Company Limited

Company Information
For The Year Ended 30 September 2024







DIRECTORS: M W Large
Mrs C M Large
M A Foote



REGISTERED OFFICE: Brunel Way
Stroudwater Business Park
Stonehouse
Gloucestershire
GL10 3SX



REGISTERED NUMBER: 00216529 (England and Wales)



AUDITORS: Kingscott Dix Limited
Chartered Accountants
and Statutory Auditor
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN



BANKERS: Lloyds Bank Plc
12 Rowcroft
Stroud
Gloucestershire
GL5 3BD

Stroud Metal Company Limited (Registered number: 00216529)

Strategic Report
For The Year Ended 30 September 2024

The directors present their strategic report for the year ended 30 September 2024.

In the opinion of the directors, the general performance and development of the company during the year ended 30 September 2024 and its financial position as at that date were satisfactory.

The directors look forward to ensuring the continued stability of the company by developing and reinforcing its position in its chosen business sector.

There have been no important events affecting the company since the balance sheet date.

REVIEW OF BUSINESS
The key financial highlights were as follows:-

2024 2023 2022 2021

Turnover movement

-1%

+15%

+21%

+7%

Gross profit movement

+20%

+19%

-2%

+70%

Profit /Loss) before tax

£204k

(£100k

)

(£162k

)

£80k


PRINCIPAL RISKS AND UNCERTAINTIES
The risks and uncertainties affecting the company arise from a wide range of factors relating to the industry sector in which it operates.

The company is well established with a well developed infrastructure in terms of workforce, plant and equipment. The directors are looking to improve its position, taking advantage of new opportunities and the company has strong reserves and funds which will facilitate this policy.

Other factors affecting the company include the volatile cost of steel and other materials, upon which the company is heavily reliant. Commodity prices are monitored and purchasing is timed where possible to benefit from periods of lower costs. However, the company attempts to pass on price rises to customers where purchasing at times of higher commodity costs.

The company faces competition from imports from overseas. However, vigorous quality control procedures are exercised to maintain the precision and quality of the products which has generally differentiated the company from such competition.

ON BEHALF OF THE BOARD:





M W Large - Director


31 March 2025

Stroud Metal Company Limited (Registered number: 00216529)

Report of the Directors
For The Year Ended 30 September 2024

The directors present their report with the financial statements of the company for the year ended 30 September 2024.

PRINCIPAL ACTIVITY
The principal activity of the company during the year was the production and marketing of metal pressings.


DIVIDENDS
No dividends will be distributed for the year ended 30 September 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

M W Large
Mrs C M Large
M A Foote

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Kingscott Dix Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M W Large - Director


31 March 2025

Report of the Independent Auditors to the Members of
Stroud Metal Company Limited

Opinion
We have audited the financial statements of Stroud Metal Company Limited (the 'company') for the year ended 30 September 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Stroud Metal Company Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Stroud Metal Company Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In assigning the audit engagement team we ensured that collectively they had the appropriate competence and capabilities to identify non-compliance with laws and regulations, highlight areas of the financial statements particularly susceptible to fraud and conduct appropriate additional enquiries where suspicions or weaknesses became evident.

At the planning stage, we assessed the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur. This involved preliminary planning discussions with management to obtain their assessment of fraud risk, to identify any incidences of fraud during the year and understand the measures and controls they had taken to combat the possibility of fraud.

Our transaction testing and assessment of controls during the audit provided further evidence as to the validity of this initial assessment with regard to material misstatement and fraud.

We identified areas of law and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the Directors, and inspection of the Company's regulatory and legal correspondence. The team were briefed with regard to laws and regulations and remained alert to any indication of non-compliance throughout the audit.

The company is subject to laws and regulations that directly affect the financial statements including legislation covering financial reporting including related companies, distributable profits and taxation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. In assessing this compliance, we evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates in the measurement and presentation of profit within the financial statements.

The company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: health and safety, provision & use of work equipment regulations, employment laws, GDPR and environmental laws and regulations recognising the nature of the company's activities. Audit procedures designed to identify non-compliance with these laws and regulations included enquiry of the Directors and other management and inspection of regulatory and legal correspondence. None of the procedures applied identified actual or suspected non-compliance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. Where an irregularity is non-financial or has not reached a stage where its impact is financial, it is less likely to be identified by auditing procedures. In addition, to the extent that an irregularity involves collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls, there remains a high risk of non-detection. We are not responsible for detecting all instances of non-compliance with laws and regulations and cannot be expected to do so.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Stroud Metal Company Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Stephen Baily FCA (Senior Statutory Auditor)
for and on behalf of Kingscott Dix Limited
Chartered Accountants
and Statutory Auditor
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

3 April 2025

Stroud Metal Company Limited (Registered number: 00216529)

Income Statement
For The Year Ended 30 September 2024

30.9.24 30.9.23
Notes £    £   

TURNOVER 3 7,886,050 7,995,051

Cost of sales 5,833,428 6,278,565
GROSS PROFIT 2,052,622 1,716,486

Administrative expenses 1,841,669 1,808,489
210,953 (92,003 )

Other operating income 3,000 2,996
OPERATING PROFIT/(LOSS) 5 213,953 (89,007 )

Interest receivable and similar income 11,176 7,592
225,129 (81,415 )

Interest payable and similar expenses 6 20,776 18,139
PROFIT/(LOSS) BEFORE TAXATION 204,353 (99,554 )

Tax on profit/(loss) 7 116,936 114,367
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

87,417

(213,921

)

Stroud Metal Company Limited (Registered number: 00216529)

Other Comprehensive Income
For The Year Ended 30 September 2024

30.9.24 30.9.23
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 87,417 (213,921 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

87,417

(213,921

)

Stroud Metal Company Limited (Registered number: 00216529)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 8 1,349,420 1,521,986

CURRENT ASSETS
Stocks 9 1,012,759 1,332,402
Debtors 10 1,941,170 2,142,159
Cash at bank 2,203,167 1,149,437
5,157,096 4,623,998
CREDITORS
Amounts falling due within one year 11 1,236,323 1,136,656
NET CURRENT ASSETS 3,920,773 3,487,342
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,270,193

5,009,328

PROVISIONS FOR LIABILITIES 14 324,174 150,726
NET ASSETS 4,946,019 4,858,602

CAPITAL AND RESERVES
Called up share capital 15 57,852 57,852
Share premium 16 541,221 541,221
Capital redemption reserve 16 7,979 7,979
Retained earnings 16 4,338,967 4,251,550
SHAREHOLDERS' FUNDS 4,946,019 4,858,602

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:





M W Large - Director


Stroud Metal Company Limited (Registered number: 00216529)

Statement of Changes in Equity
For The Year Ended 30 September 2024

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 October 2022 57,852 4,465,471 541,221 7,979 5,072,523

Changes in equity
Total comprehensive income - (213,921 ) - - (213,921 )
Balance at 30 September 2023 57,852 4,251,550 541,221 7,979 4,858,602

Changes in equity
Total comprehensive income - 87,417 - - 87,417
Balance at 30 September 2024 57,852 4,338,967 541,221 7,979 4,946,019

Stroud Metal Company Limited (Registered number: 00216529)

Notes to the Financial Statements
For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

Stroud Metal Company 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 33.7.

Turnover
Turnover represents sales of bespoke manufactured metal pressings largely for the automotive and plumbing industries net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Work in progress is valued on the basis of cost of direct materials and labour plus attributable overheads based on a normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Stroud Metal Company Limited (Registered number: 00216529)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities
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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, and loans, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised at transaction price.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

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.


Stroud Metal Company Limited (Registered number: 00216529)

Notes to the Financial Statements - continued
For The Year Ended 30 September 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Operating leases
Operating lease payments are recognised as an expense on a straight-line basis over the lease term, except
where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. Contingent rentals arising under operating leases are recognised as an expense in the period in which they are incurred.

3. TURNOVER

The turnover and profit (2023 - loss) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

30.9.24 30.9.23
£    £   
United Kingdom 4,163,260 4,689,128
Europe 3,182,470 2,821,104
Rest of the World 540,320 484,819
7,886,050 7,995,051

4. EMPLOYEES AND DIRECTORS
30.9.24 30.9.23
£    £   
Wages and salaries 1,674,956 1,730,392
Social security costs 164,871 166,196
Other pension costs 132,015 115,933
1,971,842 2,012,521

Stroud Metal Company Limited (Registered number: 00216529)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
30.9.24 30.9.23

Production 42 43
Selling and administration 7 7
Directors 2 2
51 52

30.9.24 30.9.23
£    £   
Directors' remuneration 100,046 120,815
Directors' pension contributions to money purchase schemes 94,609 76,571

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

5. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging/(crediting):

30.9.24 30.9.23
£    £   
Depreciation - owned assets 202,773 182,282
Profit on disposal of fixed assets (16,733 ) (7,315 )
Auditors' remuneration 14,500 12,000
Auditors' remuneration for non audit work 4,998 10,991
Rent paid under operating leases 400,000 400,000

6. INTEREST PAYABLE AND SIMILAR EXPENSES
30.9.24 30.9.23
£    £   
Loan interest 20,776 18,139

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.9.24 30.9.23
£    £   
Current tax:
(Over)/underprovision in prior years (56,512 ) -

Deferred tax 173,448 114,367
Tax on profit/(loss) 116,936 114,367

UK corporation tax has been charged at 25% .

Stroud Metal Company Limited (Registered number: 00216529)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30.9.24 30.9.23
£    £   
Profit/(loss) before tax 204,353 (99,554 )
Profit/(loss) multiplied by the standard rate of corporation tax in the
UK of 25% (2023 - 25%)

51,088

(24,889

)

Effects of:
Adjustments to tax charge in respect of previous periods 52,725 43,572
Group relief 70,550 71,607
Change in tax rate - 25,241
Deferred tax not provided - 52,726
Research & development credit (56,512 ) (52,726 )
Disposal of NQAs (915 ) -
Super-deduction - (1,164 )
Total tax charge 116,936 114,367

8. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023 4,424,443 729,239 195,628 5,349,310
Additions 185,778 7,263 - 193,041
Disposals (222,121 ) - - (222,121 )
At 30 September 2024 4,388,100 736,502 195,628 5,320,230
DEPRECIATION
At 1 October 2023 3,551,724 189,470 86,130 3,827,324
Charge for year 124,797 41,592 36,384 202,773
Eliminated on disposal (59,287 ) - - (59,287 )
At 30 September 2024 3,617,234 231,062 122,514 3,970,810
NET BOOK VALUE
At 30 September 2024 770,866 505,440 73,114 1,349,420
At 30 September 2023 872,719 539,769 109,498 1,521,986

9. STOCKS
30.9.24 30.9.23
£    £   
Raw materials and consumables 420,113 619,586
Work-in-progress 99,930 37,433
Finished goods 492,716 675,383
1,012,759 1,332,402

Stroud Metal Company Limited (Registered number: 00216529)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 1,104,328 1,232,428
Owed from group undertakings 561,924 681,924
Corporation tax 56,512 -
Prepayments and accrued income 218,406 227,807
1,941,170 2,142,159

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other loans (see note 12) 225,000 225,000
Trade creditors 800,076 669,260
Social security and other taxes 62,391 112,127
Other creditors 174 -
Accruals and deferred income 148,682 130,269
1,236,323 1,136,656

12. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due within one year or on demand:
Other loans 225,000 225,000

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.24 30.9.23
£    £   
Within one year 400,000 400,000
Between one and five years 1,600,000 1,600,000
In more than five years 300,000 700,000
2,300,000 2,700,000

The operating lease payments detailed relate to the trading premises leased from the parent company on a 10 year lease ending 2030.

14. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax
Accelerated capital allowances 324,174 150,726

Stroud Metal Company Limited (Registered number: 00216529)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

14. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 October 2023 150,726
Provided during year 173,448
Balance at 30 September 2024 324,174

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
37,420 Ordinary £1 37,420 37,420
20,432 Ordinary 'A' £1 20,432 20,432
57,852 57,852

16. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 October 2023 4,251,550 541,221 7,979 4,800,750
Profit for the year 87,417 87,417
At 30 September 2024 4,338,967 541,221 7,979 4,888,167

17. ULTIMATE PARENT COMPANY AND CONTROLLING PARTY

The ultimate holding company is Dudbridge Estates Limited owning 100% of the issued share capital. It is a company which is registered in England and Wales.

The ultimate controlling party is the director M. W. Large.

18. CONTINGENT LIABILITIES

The company is party to a cross guarantee to support group borrowing. At 30th September 2024 the contingent liability amounted to £1,932,255 (2023: £2,067,541).

19. CAPITAL COMMITMENTS
30.9.24 30.9.23
£    £   
Contracted but not provided for in the
financial statements 164,985 -

Stroud Metal Company Limited (Registered number: 00216529)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

20. RELATED PARTY DISCLOSURES

Loans from Related Party

At the end of March 2010 the Large Accumulation and Maintenance Settlement - MWL Children 19th April 2005, of which an ultimate shareholder is a trustee, loaned subsidiary Stroud Metal Company Limited £225,000 as an unsecured loan. Interest is payable on this loan quarterly at 4% above the Bank of England base rate. During the year Stroud Metal Company Limited paid £20,776 (2023 : £18,139) interest in respect of this loan. The director, MW Large, is a trustee of this Settlement.


Transactions with Related Party
In the year, consultancy fees of £30,339 (2023: £30,313) were paid to MF & C Consultants Ltd, a company of which Mr M Foote is a Director.

21. CONSOLIDATED ACCOUNTS

The company's ultimate parent company Dudbridge Estates Limited produces consolidated accounts.

Information regarding the consolidated accounts of Dudbridge Estates Limited can be obtained from its registered office, Stroudwater Business Park, Stonehouse, Gloucestershire. GL10 3SX.