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REGISTERED NUMBER: 02880770 (England and Wales)


















Financial Statements for the Year Ended 31 January 2025

for

Coil Slitting Letchworth Limited

Coil Slitting Letchworth Limited (Registered number: 02880770)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Coil Slitting Letchworth Limited

Company Information
for the Year Ended 31 January 2025







DIRECTORS: I Da Costa
M G Humphries





SECRETARY: I Da Costa





REGISTERED OFFICE: Unit 1b
Focus 4
Fourth Avenue
Letchworth
Hertfordshire
SG6 2TU





REGISTERED NUMBER: 02880770 (England and Wales)





AUDITORS: GH Audit Limited
Unit 1b
Focus 4
Fourth Avenue
Letchworth
Hertfordshire
SG6 2TU

Coil Slitting Letchworth Limited (Registered number: 02880770)

Balance Sheet
31 January 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 343,657 318,842
Investment property 6 - 750,000
343,657 1,068,842

CURRENT ASSETS
Stocks 699,420 511,000
Debtors 7 963,902 1,184,071
Cash at bank and in hand 24,463 129,742
1,687,785 1,824,813
CREDITORS
Amounts falling due within one year 8 923,443 1,153,105
NET CURRENT ASSETS 764,342 671,708
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,107,999

1,740,550

CREDITORS
Amounts falling due after more than one
year

9

(121,162

)

(148,779

)

PROVISIONS FOR LIABILITIES (68,227 ) (111,692 )
NET ASSETS 918,610 1,480,079

CAPITAL AND RESERVES
Called up share capital 8,002 8,002
Fair value reserve 10 - 306,815
Retained earnings 910,608 1,165,262
SHAREHOLDERS' FUNDS 918,610 1,480,079

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 12 May 2025 and were signed on its behalf by:





M G Humphries - Director


Coil Slitting Letchworth Limited (Registered number: 02880770)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

Coil Slitting Letchworth 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 net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 25% on reducing balance, 20% on reducing balance and 10% on reducing balance

Investment property
Investment properties are stated at fair value based on the valuation provided by the directors. The valuer used observable market prices adjusted as necessary for any difference in the future, location or condition of the specific asset.

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 balance sheet date.


Coil Slitting Letchworth Limited (Registered number: 02880770)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

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.

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2024
and 31 January 2025 30,000
AMORTISATION
At 1 February 2024
and 31 January 2025 30,000
NET BOOK VALUE
At 31 January 2025 -
At 31 January 2024 -

Coil Slitting Letchworth Limited (Registered number: 02880770)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2024 594,790
Additions 136,579
Disposals (44,248 )
At 31 January 2025 687,121
DEPRECIATION
At 1 February 2024 275,948
Charge for year 91,222
Eliminated on disposal (23,706 )
At 31 January 2025 343,464
NET BOOK VALUE
At 31 January 2025 343,657
At 31 January 2024 318,842

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2024 750,000
Disposals (750,000 )
At 31 January 2025 -
NET BOOK VALUE
At 31 January 2025 -
At 31 January 2024 750,000

The property has been transferred to the Holding Company on a no gain/no loss basis. A professional external valuation was undertaken at the time of the transfer which supported the valuation already included in the accounts.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 934,345 1,165,814
Amounts owed by group undertakings 830 -
Other debtors 28,727 18,257
963,902 1,184,071

Coil Slitting Letchworth Limited (Registered number: 02880770)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Hire purchase contracts 61,935 56,054
Trade creditors 631,729 830,440
Taxation and social security 143,274 203,436
Other creditors 86,505 63,175
923,443 1,153,105

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Hire purchase contracts 121,162 148,779

10. RESERVES
Fair
value
reserve
£   
At 1 February 2024 306,815
Movement in the year (306,815 )

At 31 January 2025 -

The fair value reserve has been transferred to retained earnings at the point the Investment Property was transferred to the holding company in October 2024.

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Williams ACA (Senior Statutory Auditor)
for and on behalf of GH Audit Limited

12. PARENT UNDERTAKING

The parent undertaking is Coil Slitting Holdings Limited which owns 100% of the issued share capital.