IRIS Accounts Production v23.2.0.158 04217426 Board of Directors 1.1.22 31.12.22 31.12.22 30.9.23 false true false false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure042174262021-12-31042174262022-12-31042174262022-01-012022-12-31042174262020-12-31042174262021-01-012021-12-31042174262021-12-3104217426ns16:EnglandWales2022-01-012022-12-3104217426ns15:PoundSterling2022-01-012022-12-3104217426ns11:Director12022-01-012022-12-3104217426ns11:PrivateLimitedCompanyLtd2022-01-012022-12-3104217426ns11:SmallEntities2022-01-012022-12-3104217426ns11:Audited2022-01-012022-12-3104217426ns11:SmallCompaniesRegimeForDirectorsReport2022-01-012022-12-3104217426ns11:SmallCompaniesRegimeForAccounts2022-01-012022-12-3104217426ns11:FullAccounts2022-01-012022-12-310421742612022-01-012022-12-3104217426ns11:OrdinaryShareClass12022-01-012022-12-3104217426ns11:Director22022-01-012022-12-3104217426ns11:Director32022-01-012022-12-3104217426ns11:CompanySecretary12022-01-012022-12-3104217426ns11:RegisteredOffice2022-01-012022-12-3104217426ns6:CurrentFinancialInstruments2022-12-3104217426ns6:CurrentFinancialInstruments2021-12-3104217426ns6:ShareCapital2022-12-3104217426ns6:ShareCapital2021-12-3104217426ns6:RetainedEarningsAccumulatedLosses2022-12-3104217426ns6:RetainedEarningsAccumulatedLosses2021-12-3104217426ns6:NetGoodwill2022-01-012022-12-3104217426ns6:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3104217426ns6:LeaseholdImprovements2022-01-012022-12-3104217426ns6:PlantMachinery2022-01-012022-12-3104217426ns6:FurnitureFittings2022-01-012022-12-3104217426ns6:MotorVehicles2022-01-012022-12-3104217426ns6:NetGoodwill2021-12-3104217426ns6:NetGoodwill2022-12-3104217426ns6:NetGoodwill2021-12-3104217426ns6:LeaseholdImprovements2021-12-3104217426ns6:PlantMachinery2021-12-3104217426ns6:FurnitureFittings2021-12-3104217426ns6:MotorVehicles2021-12-3104217426ns6:LeaseholdImprovements2022-12-3104217426ns6:PlantMachinery2022-12-3104217426ns6:FurnitureFittings2022-12-3104217426ns6:MotorVehicles2022-12-3104217426ns6:LeaseholdImprovements2021-12-3104217426ns6:PlantMachinery2021-12-3104217426ns6:FurnitureFittings2021-12-3104217426ns6:MotorVehicles2021-12-3104217426ns6:CostValuation2021-12-3104217426ns6:WithinOneYearns6:CurrentFinancialInstruments2022-12-3104217426ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3104217426ns6:WithinOneYear2022-12-3104217426ns6:WithinOneYear2021-12-3104217426ns6:BetweenOneFiveYears2022-12-3104217426ns6:BetweenOneFiveYears2021-12-3104217426ns6:AllPeriods2022-12-3104217426ns6:AllPeriods2021-12-3104217426ns11:OrdinaryShareClass12022-12-3104217426ns11:Director112021-12-3104217426ns11:Director112020-12-3104217426ns11:Director112022-01-012022-12-3104217426ns11:Director112021-01-012021-12-3104217426ns11:Director112022-12-3104217426ns11:Director112021-12-31
REGISTERED NUMBER: 04217426 (England and Wales)















Financial Statements for the Year Ended 31 December 2022

for

Code A Weld Holdings Limited

Code A Weld Holdings Limited (Registered number: 04217426)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Code A Weld Holdings Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: D A Millington
P Barry
D G Harrison





SECRETARY: D A Millington





REGISTERED OFFICE: Unit 1&2 Fourth Avenue
Midsomer Norton
Radstock
BA3 4XE





REGISTERED NUMBER: 04217426 (England and Wales)





AUDITORS: Botham Accounting Limited
Chartered Accountants
Statutory Auditors
3 - 5 College Street
Nottingham
Nottinghamshire
NG1 5AQ

Code A Weld Holdings Limited (Registered number: 04217426)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 530,895 328,602
Investments 6 102 102
530,997 328,704

CURRENT ASSETS
Debtors 7 539,095 464,366
Cash at bank and in hand 48,328 192,143
587,423 656,509
CREDITORS
Amounts falling due within one year 8 333,145 509,940
NET CURRENT ASSETS 254,278 146,569
TOTAL ASSETS LESS CURRENT
LIABILITIES

785,275

475,273

PROVISIONS FOR LIABILITIES 26,506 6,612
NET ASSETS 758,769 468,661

CAPITAL AND RESERVES
Called up share capital 11 12 12
Retained earnings 758,757 468,649
SHAREHOLDERS' FUNDS 758,769 468,661

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by:





D A Millington - Director


Code A Weld Holdings Limited (Registered number: 04217426)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Code A Weld Holdings 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. ACCOUNTING POLICIES

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

The company's functional and presentation currency is pounds sterling.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill recognised as a result of the acquisition of a business is fully amortised.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Code A Weld Holdings Limited (Registered number: 04217426)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2021 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 9,996
AMORTISATION
At 1 January 2022
and 31 December 2022 9,996
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 -

Code A Weld Holdings Limited (Registered number: 04217426)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2022 91,919 289,403 93,565 274,584 749,471
Additions 13,190 91,725 5,107 312,876 422,898
Disposals - - - (173,457 ) (173,457 )
At 31 December 2022 105,109 381,128 98,672 414,003 998,912
DEPRECIATION
At 1 January 2022 42,217 227,898 56,759 93,995 420,869
Charge for year 10,202 30,532 9,921 69,813 120,468
Eliminated on disposal - - - (73,320 ) (73,320 )
At 31 December 2022 52,419 258,430 66,680 90,488 468,017
NET BOOK VALUE
At 31 December 2022 52,690 122,698 31,992 323,515 530,895
At 31 December 2021 49,702 61,505 36,806 180,589 328,602

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2022
and 31 December 2022 102
NET BOOK VALUE
At 31 December 2022 102
At 31 December 2021 102

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 427,751 385,576
Amounts owed by group undertakings 83,249 46,864
Other debtors 8,516 7,392
Directors' current accounts - 173
Tax 24 10
Prepayments 19,555 24,351
539,095 464,366

Code A Weld Holdings Limited (Registered number: 04217426)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 20,414 17,536
Amounts owed to group undertakings 152,996 217,939
Tax (47,610 ) 79,519
Social security and other taxes 23,687 22,286
VAT 80,195 83,881
Other creditors 87,398 82,544
Accrued expenses 16,065 6,235
333,145 509,940

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 14,594 12,102
Between one and five years 1,265 9,056
15,859 21,158

10. SECURED DEBTS

As at 31 December 2022, the total liabilities of other group members secured by a fixed and floating charge over the assets of the company was £509,807,481 (2021 - £132,146,193).

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
12 Ordinary 1 12 12

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Botham (Senior Statutory Auditor)
for and on behalf of Botham Accounting Limited

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021:

2022 2021
£    £   
D A Millington
Balance outstanding at start of year 173 128
Amounts advanced - 45
Amounts repaid - -
Amounts written off (173 ) -
Amounts waived - -
Balance outstanding at end of year - 173

Code A Weld Holdings Limited (Registered number: 04217426)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

14. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Code A Weld Group Limited, a company incorporated in the England and Wales. Copies of the parent company's financial statements can be obtained from Companies House.

The ultimate parent undertaking and controlling party is TIC Holdco Limited, a company registered in England and Wales.

The consolidated accounts of TIC Holdco Limited, in which the company is included, are available to the public and may be obtained from Companies House.

The directors are of the opinion that there is no single ultimate controlling party of TIC Holdco Limited.