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REGISTERED NUMBER: 03921562 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Goldvale Steel Fabrications Limited

Goldvale Steel Fabrications Limited (Registered number: 03921562)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Goldvale Steel Fabrications Limited

Company Information
for the Year Ended 30 April 2023







DIRECTOR: L A Salt





REGISTERED OFFICE: RJ Francis & Co
Marshall Business Centre
Faraday Road
Hereford
HR4 9NS





REGISTERED NUMBER: 03921562 (England and Wales)





ACCOUNTANTS: R J Francis & Co
Suites 1 & 2
Marshall Business Centre
Faraday Road
Hereford
Herefordshire
HR4 9NS

Goldvale Steel Fabrications Limited (Registered number: 03921562)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 447,723 491,209
447,723 491,209

CURRENT ASSETS
Stocks 301,330 298,614
Debtors 6 775,739 606,091
Cash at bank and in hand 635,406 651,943
1,712,475 1,556,648
CREDITORS
Amounts falling due within one year 7 613,938 762,342
NET CURRENT ASSETS 1,098,537 794,306
TOTAL ASSETS LESS CURRENT LIABILITIES 1,546,260 1,285,515

PROVISIONS FOR LIABILITIES 111,931 109,714
NET ASSETS 1,434,329 1,175,801

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,434,327 1,175,799
1,434,329 1,175,801

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

Goldvale Steel Fabrications Limited (Registered number: 03921562)

Balance Sheet - continued
30 April 2023


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 director and authorised for issue on 21 September 2023 and were signed by:





L A Salt - Director


Goldvale Steel Fabrications Limited (Registered number: 03921562)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Goldvale Steel 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.

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.

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

In respect of long-term contracts and contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for ongoing services is recognised by reference to the stage of completion.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

The goodwill was fully amortised in the year 30 April 2018.

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 - 25% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 15% on reducing balance

Property Improvement -
The company has built an additional building on the land which the company leases on a short term lease, the directors believe the lease will be renewed and therefore a depreciation policy of the useful life being 40 years straight line less a residual value of £10,000 has been adopted.

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


Goldvale Steel Fabrications Limited (Registered number: 03921562)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 14 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 74,024
AMORTISATION
At 1 May 2022
and 30 April 2023 74,024
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 -

Goldvale Steel Fabrications Limited (Registered number: 03921562)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Office
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2022 120,102 613,214 121,179 29,988 884,483
Additions - 40,765 - 449 41,214
Disposals - (20,196 ) - - (20,196 )
At 30 April 2023 120,102 633,783 121,179 30,437 905,501
DEPRECIATION
At 1 May 2022 8,769 304,682 63,007 16,816 393,274
Charge for year 3,688 50,977 14,543 2,043 71,251
Eliminated on disposal - (6,747 ) - - (6,747 )
At 30 April 2023 12,457 348,912 77,550 18,859 457,778
NET BOOK VALUE
At 30 April 2023 107,645 284,871 43,629 11,578 447,723
At 30 April 2022 111,333 308,532 58,172 13,172 491,209

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 700,994 482,959
Amounts recoverable on contract 48,944 91,891
Other debtors 25,801 31,241
775,739 606,091

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 349,436 614,967
Taxation and social security 146,233 67,930
Other creditors 118,269 79,445
613,938 762,342

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 39,000 39,000
Between one and five years 97,500 136,500
136,500 175,500

Goldvale Steel Fabrications Limited (Registered number: 03921562)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
L A Salt
Balance outstanding at start of year (42,215 ) (29,627 )
Amounts advanced 95,338 18,178
Amounts repaid (134,559 ) (30,766 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (81,436 ) (42,215 )