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REGISTERED NUMBER: 09566727 (England and Wales)















Financial Statements for the Year Ended 31 December 2022

for

Code A Weld Ndt Ltd

Code A Weld Ndt Ltd (Registered number: 09566727)






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 Ndt Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTORS: P Barry
D A Millington
D G Harrison





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





REGISTERED NUMBER: 09566727 (England and Wales)





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

Code A Weld Ndt Ltd (Registered number: 09566727)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 34,940 5,884

CURRENT ASSETS
Debtors 5 261,368 100,318
Cash at bank 24,837 63,894
286,205 164,212
CREDITORS
Amounts falling due within one year 6 85,359 47,118
NET CURRENT ASSETS 200,846 117,094
TOTAL ASSETS LESS CURRENT
LIABILITIES

235,786

122,978

PROVISIONS FOR LIABILITIES 5,455 988
NET ASSETS 230,331 121,990

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 230,231 121,890
SHAREHOLDERS' FUNDS 230,331 121,990

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 30 September 2023 and were signed on its behalf by:





D A Millington - Director


Code A Weld Ndt Ltd (Registered number: 09566727)

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

1. STATUTORY INFORMATION

Code A Weld Ndt Ltd 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 financial statements have been prepared using a basis other than going concern.


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.

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

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 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.

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 4 (2021 - 3 ) .

Code A Weld Ndt Ltd (Registered number: 09566727)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2022 16,368 - 16,368
Additions - 33,302 33,302
At 31 December 2022 16,368 33,302 49,670
DEPRECIATION
At 1 January 2022 10,484 - 10,484
Charge for year 1,471 2,775 4,246
At 31 December 2022 11,955 2,775 14,730
NET BOOK VALUE
At 31 December 2022 4,413 30,527 34,940
At 31 December 2021 5,884 - 5,884

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 107,255 63,593
Amounts owed by group undertakings 153,093 36,725
Other debtors 1,020 -
261,368 100,318

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 9,340 1,271
Taxation and social security 49,860 30,288
Other creditors 26,159 15,559
85,359 47,118

7. 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).

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary 1 100 100

Code A Weld Ndt Ltd (Registered number: 09566727)

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

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

The Report of the Auditors was unqualified.


We draw attention to Note 11 to the financial statements which explains that the directors intend to liquidate the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 3. Our opinion is not modified in respect of this matter.

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

10. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Code A Weld Holdings 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.

11. SUBSEQUENT EVENTS

It is the intention of the Directors that the trade and assets will be merged in another group company within 12 months of the date of signing. The company will then cease to trade and as such the accounts have been prepared on a basis other than going concern.