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REGISTERED NUMBER: 06128946 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

STAINLESS EXHAUST SPECIALISTS LIMITED

STAINLESS EXHAUST SPECIALISTS LIMITED (REGISTERED NUMBER: 06128946)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STAINLESS EXHAUST SPECIALISTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr S R Caunt
Mr A N Fotherby





SECRETARY:





REGISTERED OFFICE: Unit 9 Nunn Brook Rise
County Estate
Huthwaite
Sutton in Ashfield
Nottinghamshire
NG17 2PD





REGISTERED NUMBER: 06128946 (England and Wales)





ACCOUNTANTS: Anderson & Co
18 Diamond Avenue
Kirkby in Ashfield
Nottinghamshire
NG17 7GR

STAINLESS EXHAUST SPECIALISTS LIMITED (REGISTERED NUMBER: 06128946)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 53,079 68,440

CURRENT ASSETS
Stocks 8,850 8,500
Debtors 5 63,780 75,171
Cash at bank 98,651 116,072
171,281 199,743
CREDITORS
Amounts falling due within one year 6 68,056 70,667
NET CURRENT ASSETS 103,225 129,076
TOTAL ASSETS LESS CURRENT
LIABILITIES

156,304

197,516

CREDITORS
Amounts falling due after more than one
year

7

(15,699

)

(38,705

)

PROVISIONS FOR LIABILITIES (9,990 ) (12,902 )
NET ASSETS 130,615 145,909

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 130,515 145,809
SHAREHOLDERS' FUNDS 130,615 145,909

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

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

STAINLESS EXHAUST SPECIALISTS LIMITED (REGISTERED NUMBER: 06128946)

BALANCE SHEET - continued
30 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:




Mr S R Caunt - Director



Mr A N Fotherby - Director


STAINLESS EXHAUST SPECIALISTS LIMITED (REGISTERED NUMBER: 06128946)

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

1. STATUTORY INFORMATION

Stainless Exhaust Specialists 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" 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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

STAINLESS EXHAUST SPECIALISTS LIMITED (REGISTERED NUMBER: 06128946)

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

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 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 35,659 4,959 74,825 1,146 116,589
Additions 550 325 - - 875
At 30 September 2024 36,209 5,284 74,825 1,146 117,464
DEPRECIATION
At 1 October 2023 27,486 3,099 16,984 580 48,149
Charge for year 1,308 327 14,460 141 16,236
At 30 September 2024 28,794 3,426 31,444 721 64,385
NET BOOK VALUE
At 30 September 2024 7,415 1,858 43,381 425 53,079
At 30 September 2023 8,173 1,860 57,841 566 68,440

STAINLESS EXHAUST SPECIALISTS LIMITED (REGISTERED NUMBER: 06128946)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023
and 30 September 2024 69,925
DEPRECIATION
At 1 October 2023 14,840
Charge for year 13,771
At 30 September 2024 28,611
NET BOOK VALUE
At 30 September 2024 41,314
At 30 September 2023 55,085

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 57,712 69,539
Prepayments 6,068 5,632
63,780 75,171

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 10,332 10,077
Hire purchase contracts 12,681 12,681
Trade creditors 9,662 6,717
Corporation tax 5,177 241
PAYE and national insurance 2,316 3,003
Value added tax 24,076 23,448
Directors' loan accounts 1,399 10,957
Accrued expenses 2,413 3,543
68,056 70,667

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans - 1-2 years 7,007 10,332
Bank loans - 2-5 years - 7,000
Hire purchase contracts 8,692 21,373
15,699 38,705