Staffs Powder Processing Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08543598 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2021

for

Staffs Powder Processing Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M F Evans

J M Evans

REGISTERED OFFICE:

Unit 14

Walley Street

Burslem

Stoke-on-Trent

Staffordshire

ST6 2AH

REGISTERED NUMBER:

08543598 (England and Wales)

ACCOUNTANTS:

Paterson Brodie Limited

Chartered Certified Accountants

Cliveden Chambers

Cliveden Place

Longton

Stoke-on-Trent

Staffordshire

ST3 4JB

FIXED ASSETS

Tangible assets

4

425,446

364,653

Investments

5

44,999

39,767

470,445

404,420

CURRENT ASSETS

Stocks

8,105

8,105

Debtors

6

184,616

100,677

Cash at bank

149,603

166,536

342,324

275,318

CREDITORS

Amounts falling due within one year

7

232,191

128,415

NET CURRENT ASSETS

110,133

146,903

TOTAL ASSETS LESS CURRENT LIABILITIES

580,578

551,323

PROVISIONS FOR LIABILITIES

8

80,879

69,284

NET ASSETS

499,699

482,039

CAPITAL AND RESERVES

Called up share capital

9

100

100

Fair value reserve

10

189

-

Retained earnings

10

499,410

481,939

SHAREHOLDERS' FUNDS

499,699

482,039

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2022 and were signed on its behalf by:

M F Evans - Director

1.	STATUTORY INFORMATION

Staffs Powder Processing Ltd 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 as modified by the revaluation of certain assets.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2020 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 June 2020

699,429

5,395

43,964

748,788

Additions

205,331

1,478

19,501

226,310

Disposals

-

-

(25,367

)

(25,367

)

At 31 May 2021

904,760

6,873

38,098

949,731

DEPRECIATION

At 1 June 2020

356,492

3,310

24,333

384,135

Charge for year

137,067

891

3,859

141,817

Eliminated on disposal

-

-

(1,667

)

(1,667

)

At 31 May 2021

493,559

4,201

26,525

524,285

NET BOOK VALUE

At 31 May 2021

411,201

2,672

11,573

425,446

At 31 May 2020

342,937

2,085

19,631

364,653

5.	FIXED ASSET INVESTMENTS

Listed

Unlisted

investments

investments

Totals

£

£

£

COST OR VALUATION

At 1 June 2020

7,988

31,779

39,767

Additions

4,998

-

4,998

Revaluations

234

-

234

At 31 May 2021

13,220

31,779

44,999

NET BOOK VALUE

At 31 May 2021

13,220

31,779

44,999

At 31 May 2020

7,988

31,779

39,767

Cost or valuation at 31 May 2021 is represented by:

Listed

Unlisted

investments

investments

Totals

£

£

£

Valuation in 2021

234

-

234

Cost

12,986

31,779

44,765

13,220

31,779

44,999

Market value of listed investments at 31 May 2021 - £ 13,220 .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Trade debtors

184,022

99,434

Prepayments and accrued income

594

1,243

184,616

100,677

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Other loans

-

18,230

Trade creditors

119,819

17,848

Tax

-

22,761

Social security and other taxes

25,540

7,578

VAT

45,026

42,682

Other creditors

1,359

-

Directors' current accounts

26,597

16,138

Accrued expenses

13,850

3,178

232,191

128,415

8.	PROVISIONS FOR LIABILITIES

31.5.21

31.5.20

£

£

Deferred tax

80,879

69,284

Deferred

tax

£

Balance at 1 June 2020

69,284

Charge to Income Statement during year

11,595

Balance at 31 May 2021

80,879

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.21

31.5.20

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 June 2020

481,939

-

481,939

Profit for the year

45,071

45,071

Dividends

(27,600

)

(27,600

)

Listed investments

-

189

189

At 31 May 2021

499,410

189

499,599