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REGISTERED NUMBER: 01831530 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

INDUSTRIAL BRAKES LIMITED

INDUSTRIAL BRAKES LIMITED (REGISTERED NUMBER: 01831530)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Company Information 1

Chartered Certified Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


INDUSTRIAL BRAKES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: B C Holmes
Mrs S Holmes
D Holmes
A S Preston



SECRETARY: B C Holmes



REGISTERED OFFICE: 14 - 15 Webner Industrial Estate
Bilston
Wolverhampton
West Midlands
WV2 2LD



REGISTERED NUMBER: 01831530 (England and Wales)



ACCOUNTANTS: French Ludlam & Co Limited
Mountfield House
661 High Street
Kingswinford
West Midlands
DY6 8AL



SOLICITORS: George Green & Co
Solicitors
195 High Street
Cradley Heath
Warley
West Midlands
B64 5HW

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
INDUSTRIAL BRAKES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Industrial Brakes Limited for the year ended 30th September 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity 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 http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Industrial Brakes Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Industrial Brakes Limited and state those matters that we have agreed to state to the Board of Directors of Industrial Brakes Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Industrial Brakes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Industrial Brakes Limited. You consider that Industrial Brakes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Industrial Brakes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






French Ludlam & Co Limited
Mountfield House
661 High Street
Kingswinford
West Midlands
DY6 8AL


16th April 2025

INDUSTRIAL BRAKES LIMITED (REGISTERED NUMBER: 01831530)

STATEMENT OF FINANCIAL POSITION
30TH SEPTEMBER 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Tangible assets 4 73,808 95,047

CURRENT ASSETS
Stocks 684,367 768,534
Debtors 5 197,953 212,231
Cash at bank and in hand 79,326 71,786
961,646 1,052,551
CREDITORS
Amounts falling due within one year 6 78,746 138,248
NET CURRENT ASSETS 882,900 914,303
TOTAL ASSETS LESS CURRENT
LIABILITIES

956,708

1,009,350

CREDITORS
Amounts falling due after more than one
year

7

(10,000

)

(20,000

)

PROVISIONS FOR LIABILITIES - (2,966 )
NET ASSETS 946,708 986,384

CAPITAL AND RESERVES
Called up share capital 201 201
Retained earnings 946,507 986,183
SHAREHOLDERS' FUNDS 946,708 986,384

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

INDUSTRIAL BRAKES LIMITED (REGISTERED NUMBER: 01831530)

STATEMENT OF FINANCIAL POSITION - continued
30TH SEPTEMBER 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th April 2025 and were signed on its behalf by:





B C Holmes - Director


INDUSTRIAL BRAKES LIMITED (REGISTERED NUMBER: 01831530)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. STATUTORY INFORMATION

Industrial Brakes 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the period of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% 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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

INDUSTRIAL BRAKES LIMITED (REGISTERED NUMBER: 01831530)

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

2. ACCOUNTING POLICIES - continued

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.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1st October 2023 33,598 407,564 441,162
Additions - 982 982
At 30th September 2024 33,598 408,546 442,144
DEPRECIATION
At 1st October 2023 30,924 315,191 346,115
Charge for year - 22,221 22,221
At 30th September 2024 30,924 337,412 368,336
NET BOOK VALUE
At 30th September 2024 2,674 71,134 73,808
At 30th September 2023 2,674 92,373 95,047

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 170,167 183,733
Other debtors 27,786 28,498
197,953 212,231

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 30,644 33,753
Taxation and social security 20,708 23,458
Other creditors 17,394 71,037
78,746 138,248

INDUSTRIAL BRAKES LIMITED (REGISTERED NUMBER: 01831530)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 10,000 20,000

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 11,933 18,319
Between one and five years 15,631 27,564
27,564 45,883

9. RELATED PARTY DISCLOSURES

Industrial Brakes Limited leases property, on normal commercial terms, from the Industrial Brakes Limited Executive Pension Scheme. Mr B C Holmes and Mrs S Holmes, directors of Industrial Brakes Limited, are also trustees of the pension scheme.

Rent paid during the year amounted to £64,000.