Company Registration No. 13069543 (England and Wales)
Custom Fabrications International Ltd
Unaudited accounts
for the period from 8 December 2020 to 31 December 2021
Custom Fabrications International Ltd
Unaudited accounts
Contents
Custom Fabrications International Ltd
Company Information
for the period from 8 December 2020 to 31 December 2021
Company Number
13069543 (England and Wales)
Registered Office
Unit R Davenport Street
Brunswick Industrial Estate
Stoke on Trent
Staffordshire
ST6 4HS
Accountants
Thursfields Accountancy Limited
Business Lodge, Trent House
234 Victoria Road
Stoke-on-Trent
Staffordshire
ST4 2LW
Custom Fabrications International Ltd
Statement of financial position
as at 31 December 2021
Cash at bank and in hand
2,265
Creditors: amounts falling due within one year
(54,351)
Net current liabilities
(28,762)
Called up share capital
100
Profit and loss account
(16,311)
Shareholders' funds
(16,211)
For the period ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the period in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2022 and were signed on its behalf by
D Bragg
Director
Company Registration No. 13069543
Custom Fabrications International Ltd
Notes to the Accounts
for the period from 8 December 2020 to 31 December 2021
Custom Fabrications International Ltd is a private company, limited by shares, registered in England and Wales, registration number 13069543. The registered office is Unit R Davenport Street, Brunswick Industrial Estate, Stoke on Trent, Staffordshire, ST6 4HS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Computer equipment
33% Straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Goodwill has an estimated useful life of 5 years and no residual value. Amortisation is being applied to cost at 20%.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
These accounts have been prepared on a going concern basis due to the continued support of the directors.
Custom Fabrications International Ltd
Notes to the Accounts
for the period from 8 December 2020 to 31 December 2021
4
Intangible fixed assets
Total
At 31 December 2021
12,300
Charge for the period
2,460
5
Tangible fixed assets
Total
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
Shares issued during the period:
100 Ordinary shares of £1 each
100
7
Average number of employees
During the period the average number of employees was 4.