REGISTERED NUMBER:
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S.H.PATTERNS & CASTINGS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2021 |
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REGISTERED NUMBER:
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S.H.PATTERNS & CASTINGS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2021 |
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S.H.PATTERNS & CASTINGS LIMITED (REGISTERED NUMBER: 07199690) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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S.H.PATTERNS & CASTINGS LIMITED |
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COMPANY INFORMATION |
for the year ended 31 March 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
100 Boldmere Road |
Sutton Coldfield |
West Midlands |
B73 5UB |
S.H.PATTERNS & CASTINGS LIMITED (REGISTERED NUMBER: 07199690) |
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BALANCE SHEET |
31 March 2021 |
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31/3/21 | 31/3/20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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S.H.PATTERNS & CASTINGS LIMITED (REGISTERED NUMBER: 07199690) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2021 |
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1. | STATUTORY INFORMATION |
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S.H.Patterns & Castings Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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During the year, the company placed one employee on furlough on due to the interruption in trade as a result of the COVID-19 pandemic, this employee has now been brought back to the workplace. |
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Although there can be no certainty, the directors are of the opinion that the company will have sufficient future trade to be enable it to continue to operate for the foreseeable future, and are confident that they will be able to meet creditors as they fall due. As such the directors consider the going concern basis of preparation appropriate. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. |
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Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
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Government grants |
Government grants are recognised using the accruals model, at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attached to them and the grants will be received. |
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Government grant income claimed in relation to the COVID-19 pandemic job retention scheme for employees which have been placed on furlough, has been claimed in accordance with the relevant guidelines. |
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S.H.PATTERNS & CASTINGS LIMITED (REGISTERED NUMBER: 07199690) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2021 |
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2. | 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Debtors with no stated interest rate receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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Creditors with no stated interest rate payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2020 |
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Additions |
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At 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
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Charge for year |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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S.H.PATTERNS & CASTINGS LIMITED (REGISTERED NUMBER: 07199690) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/21 | 31/3/20 |
£ | £ |
Trade debtors |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/21 | 31/3/20 |
£ | £ |
Trade creditors |
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Corporation tax payable |
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Social security & other taxes |
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VAT |
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Directors' current accounts |
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Accrued expenses |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/3/21 | 31/3/20 |
value: | £ | £ |
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Ordinary | £1 | 2 | 2 |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 March 2021 and 31 March 2020: |
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31/3/21 | 31/3/20 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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No interest is charged on loans from directors. Amounts are repayable on demand. |