Curzn Alloys Limited |
Registered number: |
03415657 |
Abridged Balance Sheet |
as at 30 June 2022 |
|
Notes |
|
|
2022 |
|
|
2021 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
360,675 |
|
|
337,597 |
|
Current assets |
Stocks |
|
|
411,030 |
|
|
150,457 |
Debtors |
|
|
454,610 |
|
|
241,462 |
Cash at bank and in hand |
|
|
29 |
|
|
130 |
|
|
|
865,669 |
|
|
392,049 |
|
Creditors: amounts falling due within one year |
|
|
(748,711) |
|
|
(337,390) |
|
Net current assets |
|
|
|
116,958 |
|
|
54,659 |
|
Total assets less current liabilities |
|
|
|
477,633 |
|
|
392,256 |
|
Creditors: amounts falling due after more than one year |
|
|
|
(1,131,554) |
|
|
(968,790) |
|
|
|
Net liabilities |
|
|
|
(653,921) |
|
|
(576,534) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1,000 |
|
|
1,000 |
Share premium |
|
|
|
299,723 |
|
|
299,723 |
Profit and loss account |
|
|
|
(954,644) |
|
|
(877,257) |
|
Shareholder's funds |
|
|
|
(653,921) |
|
|
(576,534) |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006. |
|
|
|
|
WMC Nix |
Director |
Approved by the board on 26 July 2023 |
|
Curzn Alloys Limited |
Notes to the Abridged Accounts |
for the year ended 30 June 2022 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A, "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. These financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent upon the continued support of the company's directors and creditors. If the company were unable to continue to trade, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets as current assets. The presentation currency is £ sterling. |
|
|
Turnover |
|
Turnover represents amounts invoiced by the company during the year, derived from ordinary activities, excluding Value Added Tax and any discounts allowed. Turnover is recognised under an exchange transaction with a customer when, and to the extent that, the company obtains the right to consideration in exchange for its performance, or when services have been performed for customers. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation has been calculated so as to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives, as follows: |
|
|
Plant and machinery |
over 5 years |
|
|
Stocks |
|
These are valued at the lower of cost and net realisable value, where cost is the acquisition value and net realisable value is taken as being the estimated future selling price less any anticipated costs and disposal expenses. |
|
|
Taxation |
|
Deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured at the tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date . Deferred tax is measured on a non-discounted basis. |
|
|
Hire Purchase Commitments |
|
Hire purchase contracts are accounted for as being both an asset and an obligation to pay future repayments with the interest element being charged to the profit and loss account so as to give a periodic charge commensurate with the balancing outstanding. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
2 |
Employees |
2022 |
|
2021 |
Number |
Number |
|
|
Average number of persons employed by the company |
11 |
|
9 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Total |
£ |
|
Cost |
|
At 1 July 2021 |
595,544 |
|
Additions |
49,644 |
|
At 30 June 2022 |
645,188 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2021 |
257,947 |
|
Charge for the year |
26,566 |
|
At 30 June 2022 |
284,513 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2022 |
360,675 |
|
At 30 June 2021 |
337,597 |
|
|
4 |
Controlling party |
|
|
The company is controlled by the director WMC Nix, by virtue of his holding 76% of the share capital. |
|
|
5 |
Other information |
|
|
Curzn Alloys Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Radnor Park Industrial Estate |
|
2nd Avenue |
|
Congleton |
|
Cheshire |