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REGISTERED NUMBER: 01771630 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

DES EVANS (STEEL FABRICATION) LIMITED

DES EVANS (STEEL FABRICATION) LIMITED (REGISTERED NUMBER: 01771630)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

DES EVANS (STEEL FABRICATION) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: Ms K Kaye
D J Evans





SECRETARY: Ms K Kaye





REGISTERED OFFICE: Ashlands Sandford
West Felton
Oswestry
Shropshire
SY11 4EY





REGISTERED NUMBER: 01771630 (England and Wales)





ACCOUNTANTS: D.R.E. & Co. Limited
Chartered Accountants
7 Lower Brook Street
Oswestry
Shropshire
SY11 2HG

DES EVANS (STEEL FABRICATION) LIMITED (REGISTERED NUMBER: 01771630)

BALANCE SHEET
31 DECEMBER 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 2,093,640 2,096,773
2,093,640 2,096,773

CURRENT ASSETS
Stocks 666,618 600,313
Debtors 7 167,042 211,591
Investments 8 846,459 840,112
Cash at bank 1,538,121 1,493,860
3,218,240 3,145,876
CREDITORS
Amounts falling due within one year 9 69,179 115,213
NET CURRENT ASSETS 3,149,061 3,030,663
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,242,701

5,127,436

PROVISIONS FOR LIABILITIES 133,950 123,271
NET ASSETS 5,108,751 5,004,165

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 10 5,103,751 4,999,165
SHAREHOLDERS' FUNDS 5,108,751 5,004,165

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

DES EVANS (STEEL FABRICATION) LIMITED (REGISTERED NUMBER: 01771630)

BALANCE SHEET - continued
31 DECEMBER 2021


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2022 and were signed on its behalf by:





D J Evans - Director


DES EVANS (STEEL FABRICATION) LIMITED (REGISTERED NUMBER: 01771630)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Des Evans (Steel Fabrication) 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are presented in Sterling (£) rounded to the nearest £1.

Going Concern
The financial statements have been prepared on a going concern basis as the directors are of the opinion that the Company will be able to pay its liabilities as and when they fall due.

Turnover
Turnover represents net amounts invoiced for company trades, excluding value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible asset are being amortised evenly over their estimated useful life of two years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Investment properties - not provided
Freehold trading property - in accordance with the property
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance and 10% on reducing balance
Computer equipment - 33% on cost

Freehold property is revalued by the directors at the end of each financial period with depreciation charged to write off the difference in values, down to its estimated realisable value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for current asset share investments which are measured at fair value, with changes recognised in the profit and loss account. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss account.

Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

DES EVANS (STEEL FABRICATION) LIMITED (REGISTERED NUMBER: 01771630)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

3. ACCOUNTING POLICIES - continued

Investment properties
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2021
and 31 December 2021 140
AMORTISATION
At 1 January 2021
and 31 December 2021 140
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 -

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2021 2,081,341 59,624 2,140,965
Additions - 721 721
At 31 December 2021 2,081,341 60,345 2,141,686
DEPRECIATION
At 1 January 2021 - 44,192 44,192
Charge for year - 3,854 3,854
At 31 December 2021 - 48,046 48,046
NET BOOK VALUE
At 31 December 2021 2,081,341 12,299 2,093,640
At 31 December 2020 2,081,341 15,432 2,096,773

DES EVANS (STEEL FABRICATION) LIMITED (REGISTERED NUMBER: 01771630)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

6. TANGIBLE FIXED ASSETS - continued

The Company's land and buildings were valued on an open market basis on 31 December 2015 by the directors.

This value has been adopted as deemed cost of the assets concerned on transition to FRS 102.

The comparable amounts for land and buildings at original cost were:

Cost £1,076,635

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors - 25,404
Loans 144,000 150,000
VAT 20,759 34,967
Prepayments and accrued income 2,283 1,220
167,042 211,591

8. CURRENT ASSET INVESTMENTS
31.12.21 31.12.20
£    £   
Unlisted investments 846,459 840,112

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors & accruals 27,395 23,359
Tax 38,228 89,899
Social security and other taxes 723 1,690
Directors' current accounts 1,700 265
Prepaid income 1,133 -
69,179 115,213

10. RESERVES

Included in retained earnings is £1,004,706 (2020 - £999,791) of profits which are not available for distribution as they are unrealised gains on revaluations.

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £48,500 (2020 - £43,573) were paid to the directors. Dividends of £551,500
(2020 - £518,347) were waived by the director, Mr D Evans.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DES EVANS (STEEL FABRICATION) LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Des Evans (Steel Fabrication) Limited for the year ended 31 December 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Des Evans (Steel Fabrication) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Des Evans (Steel Fabrication) Limited and state those matters that we have agreed to state to the Board of Directors of Des Evans (Steel Fabrication) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Des Evans (Steel Fabrication) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Des Evans (Steel Fabrication) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Des Evans (Steel Fabrication) Limited. You consider that Des Evans (Steel Fabrication) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Des Evans (Steel Fabrication) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






D.R.E. & Co. Limited
Chartered Accountants
7 Lower Brook Street
Oswestry
Shropshire
SY11 2HG


8 September 2022