Coday Sheet Metal Fab (GY) Ltd - Accounts to registrar (filleted) - small 22.3

Coday Sheet Metal Fab (GY) Ltd - Accounts to registrar (filleted) - small 22.3


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REGISTERED NUMBER: 01324817 (England and Wales)















Coday Sheet Metal Fabrications (Great
Yarmouth) Limited

Unaudited Financial Statements

For The Year Ended

31st October 2021






Coday Sheet Metal Fabrications (Great
Yarmouth) Limited (Registered number: 01324817)

Contents of the Financial Statements
For The Year Ended 31st October 2021










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8

Chartered Accountants' Report 9

Coday Sheet Metal Fabrications (Great
Yarmouth) Limited

Company Information
For The Year Ended 31st October 2021







DIRECTOR: S J Rossage





SECRETARY: S J Rossage





REGISTERED OFFICE: Unit E Salmon Road
Great Yarmouth
Norfolk
NR30 3QS





REGISTERED NUMBER: 01324817 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Englands Lane Business Centre
47 Englands Lane
Gorleston
Great Yarmouth
Norfolk
NR31 6BE

Coday Sheet Metal Fabrications (Great
Yarmouth) Limited (Registered number: 01324817)

Balance Sheet
31st October 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 190,851 212,743

CURRENT ASSETS
Stocks 13,000 12,500
Debtors 6 117,939 196,189
Cash at bank and in hand 200,190 161,980
331,129 370,669
CREDITORS
Amounts falling due within one year 7 96,371 128,525
NET CURRENT ASSETS 234,758 242,144
TOTAL ASSETS LESS CURRENT LIABILITIES 425,609 454,887

PROVISIONS FOR LIABILITIES 38,285 30,146
NET ASSETS 387,324 424,741

CAPITAL AND RESERVES
Called up share capital 8 12,000 12,000
Retained earnings 375,324 412,741
SHAREHOLDERS' FUNDS 387,324 424,741

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Coday Sheet Metal Fabrications (Great
Yarmouth) Limited (Registered number: 01324817)

Balance Sheet - continued
31st October 2021


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 director and authorised for issue on 25th October 2022 and were signed by:





S J Rossage - Director


Coday Sheet Metal Fabrications (Great
Yarmouth) Limited (Registered number: 01324817)

Notes to the Financial Statements
For The Year Ended 31st October 2021


1. STATUTORY INFORMATION

Coday Sheet Metal Fabrications (Great Yarmouth) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 asset
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.
Long leasehold - over the lease term
Improvements to property - 2% on cost
Plant and machinery - 15% on reducing balance, Not depreciated and Straight line over 3 years
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Government grants
Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in other income within profit or loss in the same period as the related expenditure. This includes the Government Coronavirus Job Retention Scheme.

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.


Coday Sheet Metal Fabrications (Great
Yarmouth) Limited (Registered number: 01324817)

Notes to the Financial Statements - continued
For The Year Ended 31st October 2021


3. ACCOUNTING POLICIES - continued
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
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 8 ) .

Coday Sheet Metal Fabrications (Great
Yarmouth) Limited (Registered number: 01324817)

Notes to the Financial Statements - continued
For The Year Ended 31st October 2021


5. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1st November 2020
and 31st October 2021 52,029 14,293 341,193
DEPRECIATION
At 1st November 2020 11,562 680 191,102
Charge for year 1,156 286 18,629
At 31st October 2021 12,718 966 209,731
NET BOOK VALUE
At 31st October 2021 39,311 13,327 131,462
At 31st October 2020 40,467 13,613 150,091

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st November 2020
and 31st October 2021 12,756 16,795 8,880 445,946
DEPRECIATION
At 1st November 2020 9,532 16,266 4,061 233,203
Charge for year 484 132 1,205 21,892
At 31st October 2021 10,016 16,398 5,266 255,095
NET BOOK VALUE
At 31st October 2021 2,740 397 3,614 190,851
At 31st October 2020 3,224 529 4,819 212,743

Coday Sheet Metal Fabrications (Great
Yarmouth) Limited (Registered number: 01324817)

Notes to the Financial Statements - continued
For The Year Ended 31st October 2021


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1st November 2020 146,470
Transfer to ownership (146,470 )
At 31st October 2021 -
DEPRECIATION
At 1st November 2020 43,479
Charge for year 11,844
Transfer to ownership (55,323 )
At 31st October 2021 -
NET BOOK VALUE
At 31st October 2021 -
At 31st October 2020 102,991

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 117,283 119,037
Other debtors 656 77,152
117,939 196,189

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Hire purchase contracts - 21,575
Trade creditors 29,893 33,693
Taxation and social security 31,676 36,580
Other creditors 34,802 36,677
96,371 128,525

Coday Sheet Metal Fabrications (Great
Yarmouth) Limited (Registered number: 01324817)

Notes to the Financial Statements - continued
For The Year Ended 31st October 2021


8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
12,000 Ordinary £1 12,000 12,000

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st October 2021 and 31st October 2020:

2021 2020
£    £   
S J Rossage
Balance outstanding at start of year 70,849 159
Amounts advanced 936 70,956
Amounts repaid (71,812 ) (266 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (27 ) 70,849

The company operates a loan account with the director where interest is charged at H M Revenue & Customs official interest rates on balances over £10,000. There are no set repayment terms.

On 15.09.2015 by way of a Debenture the company agreed to provide security for a loan taken out by Mr S Rossage director of the company with Retail Money Market Limited t/a Ratesetter. The company provided a fixed and floating charge over all of it's assets in respect of all the Secured Obligations under the agreement.

10. DEFERRED INCOME

Included in other creditors is £30,667 received from the New Anglia Local Enterprise Partnership Growing Business Fund towards the cost of a new cutting machine. This was installed in October 2016. The grant is being released to profit and loss over the expected useful life of the machine being 15 years which has commenced in the year ended 31 October 2017.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Coday Sheet Metal Fabrications (Great
Yarmouth) Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Coday Sheet Metal Fabrications (Great Yarmouth) Limited for the year ended 31st October 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Coday Sheet Metal Fabrications (Great Yarmouth) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Coday Sheet Metal Fabrications (Great Yarmouth) Limited and state those matters that we have agreed to state to the director of Coday Sheet Metal Fabrications (Great Yarmouth) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coday Sheet Metal Fabrications (Great Yarmouth) Limited and its director for our work or for this report.

It is your duty to ensure that Coday Sheet Metal Fabrications (Great Yarmouth) 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 profit of Coday Sheet Metal Fabrications (Great Yarmouth) Limited. You consider that Coday Sheet Metal Fabrications (Great Yarmouth) 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 Coday Sheet Metal Fabrications (Great Yarmouth) 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.






Haines Watts
Chartered Accountants
Englands Lane Business Centre
47 Englands Lane
Gorleston
Great Yarmouth
Norfolk
NR31 6BE


25th October 2022