Company registration number 03859499 (England and Wales)
ALL ALLOY SLITTING SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ALL ALLOY SLITTING SERVICES LIMITED
COMPANY INFORMATION
Director
Mr M J Lewis
Secretary
Mrs D A Lewis
Company number
03859499
Registered office
Anchor Bridge House
Navigation Close
Oldbury
West Midlands
B69 4FN
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
PO Box 28
328 High Street
West Bromwich
West Midlands
B70 8DJ
ALL ALLOY SLITTING SERVICES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
ALL ALLOY SLITTING SERVICES LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ALL ALLOY SLITTING SERVICES LIMITED FOR THE YEAR ENDED 30 NOVEMBER 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of All Alloy Slitting Services Limited for the year ended 30 November 2024 which comprise, the balance sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of All Alloy Slitting Services 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 All Alloy Slitting Services Limited and state those matters that we have agreed to state to the board of directors of All Alloy Slitting Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than All Alloy Slitting Services Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that All Alloy Slitting Services 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 All Alloy Slitting Services Limited. You consider that All Alloy Slitting Services 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 All Alloy Slitting Services 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.
Ormerod Rutter Limited
15 May 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
ALL ALLOY SLITTING SERVICES LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2024
30 November 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
800,791
781,012
Current assets
Debtors
4
109,106
250,931
Cash at bank and in hand
21,303
25,503
130,409
276,434
Creditors: amounts falling due within one year
5
(217,772)
(180,527)
Net current (liabilities)/assets
(87,363)
95,907
Total assets less current liabilities
713,428
876,919
Creditors: amounts falling due after more than one year
6
(17,911)
(28,125)
Provisions for liabilities
8
(30,386)
(10,376)
Net assets
665,131
838,418
Capital and reserves
Called up share capital
9
20,000
20,000
Profit and loss reserves
645,131
818,418
Total equity
665,131
838,418
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ALL ALLOY SLITTING SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024
30 November 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 15 May 2025
Mr M J Lewis
Director
Company registration number 03859499 (England and Wales)
ALL ALLOY SLITTING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 4 -
1
Accounting policies
Company information
All Alloy Slitting Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Anchor Bridge House, Navigation Close, Oldbury, West Midlands, B69 4FN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and property
2% on cost or not provided
Plant and machinery
20% on cost and 10% on cost
Fixtures and fittings
10% on cost
Computer equipment
25% on cost
Motor vehicles
20% on cost
Freehold land and assets in the course of construction are not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
ALL ALLOY SLITTING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
8
ALL ALLOY SLITTING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
3
Tangible fixed assets
Freehold land and property
Plant and machinery
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 December 2023
965,696
671,858
33,947
2,754
14,199
1,688,454
Additions
1,760
44,875
46,635
Disposals
(7,139)
(7,139)
At 30 November 2024
965,696
666,479
33,947
2,754
59,074
1,727,950
Depreciation and impairment
At 1 December 2023
225,618
633,122
31,749
2,754
14,199
907,442
Depreciation charged in the year
11,061
6,465
355
8,975
26,856
Eliminated in respect of disposals
(7,139)
(7,139)
At 30 November 2024
236,679
632,448
32,104
2,754
23,174
927,159
Carrying amount
At 30 November 2024
729,017
34,031
1,843
35,900
800,791
At 30 November 2023
740,078
38,736
2,198
781,012
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
107,608
102,633
Amounts owed by group undertakings
400
400
Other debtors
1,098
147,898
109,106
250,931
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
28,125
37,500
Trade creditors
67,624
53,660
Taxation and social security
83,631
67,106
Other creditors
38,392
22,261
217,772
180,527
ALL ALLOY SLITTING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 7 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
28,125
Other creditors
17,911
17,911
28,125
7
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Hire purchase contracts
31,337
-
Bank loans
28,125
65,625
59,462
65,625
Hire purchase contracts are secured against the assets to which they relate.
Bank loans are secured by way of a fixed and floating charge over all assets of the company and by way of a government-backed guarantee.
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
30,386
10,376
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
20,000
20,000
20,000
20,000
10
Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
ALL ALLOY SLITTING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 8 -
11
Control
Ultimate parent company
The ultimate parent company is Lewis Alloy Holdings Limited, a company registered in England and Wales.
Ultimate controlling party
The ultimate controlling party is Mr M J Lewis by virtue of his controlling interest in the ultimate parent company.