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REGISTERED NUMBER: 07083987 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

FOR

MALTON FABRICATIONS LIMITED
TRADING AS
MALTON LASER

MALTON FABRICATIONS LIMITED (REGISTERED NUMBER: 07083987)
TRADING AS MALTON LASER






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2018




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MALTON FABRICATIONS LIMITED
TRADING AS MALTON LASER

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2018







DIRECTOR: Mr C W Corner





REGISTERED OFFICE: Unit E3 Pyramid Estate
Showfield Lane Industrial Estate
Malton
North Yorkshire
YO17 6BT





REGISTERED NUMBER: 07083987 (England and Wales)





ACCOUNTANTS: Townsend Harrison Limited
13 Yorkersgate
Malton
North Yorkshire
YO17 7AA

MALTON FABRICATIONS LIMITED (REGISTERED NUMBER: 07083987)
TRADING AS MALTON LASER

STATEMENT OF FINANCIAL POSITION
31 JULY 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,046,111 1,238,790

CURRENT ASSETS
Stocks 88,042 121,864
Debtors 6 772,762 691,315
Cash at bank and in hand 1,043 102,537
861,847 915,716
CREDITORS
Amounts falling due within one year 7 983,965 940,520
NET CURRENT LIABILITIES (122,118 ) (24,804 )
TOTAL ASSETS LESS CURRENT LIABILITIES 923,993 1,213,986

CREDITORS
Amounts falling due after more than one year 8 (522,273 ) (810,932 )

PROVISIONS FOR LIABILITIES (97,741 ) (106,133 )
NET ASSETS 303,979 296,921

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 303,969 296,911
SHAREHOLDERS' FUNDS 303,979 296,921

MALTON FABRICATIONS LIMITED (REGISTERED NUMBER: 07083987)
TRADING AS MALTON LASER

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2018


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 30 October 2018 and were signed by:





Mr C W Corner - Director


MALTON FABRICATIONS LIMITED (REGISTERED NUMBER: 07083987)
TRADING AS MALTON LASER

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2018

1. STATUTORY INFORMATION

Malton Fabrications 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
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.
Short leasehold - 5% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 33% on cost

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.

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 statement of financial position date.


MALTON FABRICATIONS LIMITED (REGISTERED NUMBER: 07083987)
TRADING AS MALTON LASER

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2018

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of
financial position 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.

Revenue recognition
Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in
exchange for the supply of goods and services that it provides. It is measured at the fair value of the right to
consideration, which represents amounts chargeable to customers.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2017 - 32 ) .

MALTON FABRICATIONS LIMITED (REGISTERED NUMBER: 07083987)
TRADING AS MALTON LASER

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2018

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2017 3,927 1,509,689 26,220 97,132 1,636,968
Additions - 20,975 7,047 31,479 59,501
Disposals - (7,167 ) - - (7,167 )
At 31 July 2018 3,927 1,523,497 33,267 128,611 1,689,302
DEPRECIATION
At 1 August 2017 857 348,629 4,331 44,361 398,178
Charge for year 192 213,834 4,736 26,251 245,013
At 31 July 2018 1,049 562,463 9,067 70,612 643,191
NET BOOK VALUE
At 31 July 2018 2,878 961,034 24,200 57,999 1,046,111
At 31 July 2017 3,070 1,161,060 21,889 52,771 1,238,790

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2017 1,398,290 96,032 1,494,322
Additions - 31,479 31,479
Transfer to ownership (135,750 ) (41,070 ) (176,820 )
At 31 July 2018 1,262,540 86,441 1,348,981
DEPRECIATION
At 1 August 2017 296,919 43,701 340,620
Charge for year 117,562 22,474 140,036
Transfer to ownership - (37,653 ) (37,653 )
At 31 July 2018 414,481 28,522 443,003
NET BOOK VALUE
At 31 July 2018 848,059 57,919 905,978
At 31 July 2017 1,101,371 52,331 1,153,702

MALTON FABRICATIONS LIMITED (REGISTERED NUMBER: 07083987)
TRADING AS MALTON LASER

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2018

6. DEBTORS
2018 2017
£    £   
Amounts falling due within one year:
Trade debtors 469,183 462,243
Other debtors 303,579 164,303
772,762 626,546

Amounts falling due after more than one year:
Other debtors - 64,769

Aggregate amounts 772,762 691,315

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 401,789 372,931
Hire purchase contracts 267,509 267,812
Trade creditors 193,849 163,425
Taxation and social security 92,788 113,451
Other creditors 28,030 22,901
983,965 940,520

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Hire purchase contracts 522,273 810,932

9. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Finance leases 789,782 1,078,744
Factoring account 396,911 372,931
1,186,693 1,451,675

10. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £232,578 (2017 - £308,574).

MALTON FABRICATIONS LIMITED (REGISTERED NUMBER: 07083987)
TRADING AS MALTON LASER

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2018

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2018 and 31 July 2017:

2018 2017
£    £   
Mr C W Corner
Balance outstanding at start of year 107,757 49,868
Amounts advanced 232,220 111,637
Amounts repaid (108,493 ) (53,748 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 231,484 107,757

Where the above loan account has been overdrawn during the year interest has been charged at 2.5% (2017 - 3.00%).
During the year the highest overdrawn balance was £231,484 (2017 - £107,757)

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £196,056 (2017 - £93,158) were paid to the director .

Mr C Corner has provided a personal guarantee on the company overdraft facility.