Neepsend Cast Components Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02563851 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

NEEPSEND CAST COMPONENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R D Beasley

P A Beasley

SECRETARY:

Mrs M B Beasley

REGISTERED OFFICE:

Faith Works

Club Mill Road

Sheffield

S6 2FG

REGISTERED NUMBER:

02563851 (England and Wales)

ACCOUNTANTS:

Hodgson & Oldfield

20 Paradise Square

Sheffield

S1 2DE

FIXED ASSETS

Tangible assets

4

16

54

CURRENT ASSETS

Stocks

24,500

23,000

Debtors

5

107,483

79,627

Cash at bank and in hand

23,919

21,466

155,902

124,093

CREDITORS

Amounts falling due within one year

6

73,941

44,689

NET CURRENT ASSETS

81,961

79,404

TOTAL ASSETS LESS CURRENT LIABILITIES

81,977

79,458

PROVISIONS FOR LIABILITIES

3

-

NET ASSETS

81,974

79,458

CAPITAL AND RESERVES

Called up share capital

100

100

Capital redemption reserve

50

50

Retained earnings

81,824

79,308

SHAREHOLDERS' FUNDS

81,974

79,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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.

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 2022 and were signed on its behalf by:

P A Beasley - Director

1.	STATUTORY INFORMATION

Neepsend Cast Components 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 and income recognition

Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised when the goods are physically collected by or 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 etc

-

25% on reducing balance and 10% on reducing balance

Stocks

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2020

994

Disposals

(382

)

At 30 September 2021

612

DEPRECIATION

At 1 October 2020

940

Charge for year

5

Eliminated on disposal

(349

)

At 30 September 2021

596

NET BOOK VALUE

At 30 September 2021

16

At 30 September 2020

54

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Trade debtors

41,996

33,203

Other debtors

65,487

46,424

107,483

79,627

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Trade creditors

40,903

30,854

Taxation and social security

83

910

Other creditors

32,955

12,925

73,941

44,689

7.	RELATED PARTY DISCLOSURES

The company made an interest free loan to N R Beasley.

N R Beasley is R D Beasleys son.

The amount due to the company at 30 September 2021 was £290 (2020 £640.

The company also made an interest free loan to Standon Engineering Services Limited.

R D Beasley & P A Beasley are directors and shareholders in this company.

The amount due to the company at 30 September 2021 was £62,714 (2020 £44,298)

8.	ULTIMATE CONTROLLING PARTY

The company is controlled by R D Beasley and Mrs M B Beasley who together own 100% of the share capital.