Frank Hedges (Steel) Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07002925 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2022

for

Frank Hedges (Steel) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

DIRECTOR:

S J Childs

REGISTERED OFFICE:

1 Aston Court

Bromsgrove Technology Park

Bromsgrove

Worcestershire

B60 3AL

REGISTERED NUMBER:

07002925 (England and Wales)

ACCOUNTANTS:

Kenneth Morris Limited

1 Aston Court

Bromsgrove Technology Park

Bromsgrove

Worcestershire

B60 3AL

FIXED ASSETS

Tangible assets

4

2,982

3,976

CURRENT ASSETS

Stocks

1,575

1,700

Debtors

28,773

11,810

Cash at bank and in hand

9,526

11,842

39,874

25,352

CREDITORS

Amounts falling due within one year

13,475

5,930

NET CURRENT ASSETS

26,399

19,422

TOTAL ASSETS LESS CURRENT LIABILITIES

29,381

23,398

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

29,380

23,397

SHAREHOLDERS' FUNDS

29,381

23,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 August 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 December 2022 and were signed by:

S J Childs - Director

1.	STATUTORY INFORMATION

Frank Hedges (Steel) 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.

Since March 2020, the company's ability to trade has been adversely impacted due to the COVID-19 outbreak. The directors are taking all necessary steps to ensure the survival of the business which includes accessing government funding and cutting costs where possible.

Preparation of consolidated financial statements

The financial statements contain information about Frank Hedges (Steel) Limited as an individual company.

The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

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 assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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.

Debtors

Debtors include the contractual value of work in progress.

Operating leases

The relevant annual rentals are charged to the profit and loss account on a straight line basis over the lease term, unless they relate to vacant leasehold properties, in which case provision is made on a discounted basis for the net obligation under the lease. The unwinding of the discount is disclosed within interest payable and similar charges.

Where no lease is in place, the rentals are charged to the profit and loss account as and when paid.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2021

and 31 August 2022

5,628

DEPRECIATION

At 1 September 2021

1,652

Charge for year

994

At 31 August 2022

2,646

NET BOOK VALUE

At 31 August 2022

2,982

At 31 August 2021

3,976

5.	CONTINGENT LIABILITIES

There were no material contingent liabilities at the period end.

6.	POST BALANCE SHEET EVENTS

There were no material post balance sheet events.

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 Abridged 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 Frank Hedges (Steel) Limited for the year ended 31 August 2022 which comprise the Abridged Income Statement, Abridged 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 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 Frank Hedges (Steel) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Frank Hedges (Steel) Limited and state those matters that we have agreed to state to the director of Frank Hedges (Steel) 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 Frank Hedges (Steel) Limited and its director for our work or for this report.

It is your duty to ensure that Frank Hedges (Steel) 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 Frank Hedges (Steel) Limited. You consider that Frank Hedges (Steel) 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 Frank Hedges (Steel) 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.

Kenneth Morris Limited

1 Aston Court

Bromsgrove Technology Park

Bromsgrove

Worcestershire

B60 3AL

20 December 2022