S & S Mears Limited - Accounts to registrar (filleted) - small 18.2
S & S Mears Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 October 2021 |
| for |
| S & S Mears Limited |
| S & S Mears Limited (Registered number: 02854081) |
| Contents of the Financial Statements |
| for the Year Ended 31 October 2021 |
| Page |
| Company Information | 1 |
| Income Statement | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4 |
| S & S Mears Limited |
| Company Information |
| for the Year Ended 31 October 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Stafford House |
| Blackbrook Park Avenue |
| Taunton |
| Somerset |
| TA1 2PX |
| S & S Mears Limited (Registered number: 02854081) |
| Income Statement |
| for the Year Ended 31 October 2021 |
| 2021 | 2020 |
| £ | £ |
| TURNOVER |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| 290,786 | 206,821 |
| Other operating income |
| OPERATING PROFIT |
| Interest receivable and similar income |
| 327,238 | 269,312 |
| Interest payable and similar expenses |
| PROFIT BEFORE TAXATION |
| Tax on profit |
| PROFIT FOR THE FINANCIAL YEAR |
| S & S Mears Limited (Registered number: 02854081) |
| Balance Sheet |
| 31 October 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| S & S Mears Limited (Registered number: 02854081) |
| Notes to the Financial Statements |
| for the Year Ended 31 October 2021 |
| 1. | STATUTORY INFORMATION |
| S & S Mears Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue is recognised as services are performed and is measured at the fair value of the consideration received or receivable. Turnover represents the value of work done in the year net of value added tax. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| 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. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| Government coronavirus grants |
| Government grants received in respect of Coronavirus assistance are recognised using the accruals method. |
| Under the accruals method, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. |
| S & S Mears Limited (Registered number: 02854081) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2021 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 November 2020 |
| Additions |
| At 31 October 2021 |
| DEPRECIATION |
| At 1 November 2020 |
| Charge for year |
| At 31 October 2021 |
| NET BOOK VALUE |
| At 31 October 2021 |
| At 31 October 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | - | 5,286 |
| The bank loan was drawn down in May 2020 under the CBILS provisions due to the Covid-19 pandemic. The loan, which includes a 12 month interest and capital repayment holiday, carries interest at a fixed rate of 2.5% and is repayable in 60 monthly instalments from May 2021. The loan is repayable by April 2026. |
| S & S Mears Limited (Registered number: 02854081) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2021 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2021 | 2020 |
| £ | £ |
| Within one year |