Corcoran Fabrications Limited
Registered number: 10560520
Balance Sheet
as at 30 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 500 750
Current assets
Debtors 31,490 35,781
Cash at bank and in hand 5,069 1,320
36,559 37,101
Creditors: amounts falling due within one year (35,930) (36,740)
Net current assets 629 361
Total assets less current liabilities 1,129 1,111
Provisions for liabilities (95) (143)
Net assets 1,034 968
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,033 967
Shareholder's funds 1,034 968
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Corcoran
Director
Approved by the board on 2 May 2023
Corcoran Fabrications Limited
Notes to the Accounts
for the year ended 30 January 2023
1 Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS102 Section 1A for small entities. There were no material departures from that standard.

The Balance Sheet has been abridged pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors' Report) Regulations (SI 2008/49). All the members of the company have consented to the abridgement.
2 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A for small entities. The transition to FRS 102 Section 1A for small entities may result in a small number of changes in accounting policies to those used previously.

The nature of these changes and their impact on shareholders' funds at the transition date and the comparative Balance Sheet date and profit for the comparative period are explained in the notes below.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 31 January 2022 1,500
At 30 January 2023 1,500
Depreciation
At 31 January 2022 750
Charge for the year 250
At 30 January 2023 1,000
Net book value
At 30 January 2023 500
At 30 January 2022 750
5 COVID-19 going concern assessment
The Directors have considered the possible effects on the company of the impacts of the worldwide pandemic caused by the Coronavirus (COVID-19). Taking into account a period covering 12 months from the date of approval of these financial statements, the Directors have a reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future and for this reason will continue to adopt the going concern basis in the preparation of its Financial Statements.
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
T Corcoran
Current account 27,004 (5,668) 21,336
27,004 - (5,668) 21,336
The loan was partly repaid during the year. Interest is charged at beneficial loan interest rates.
7 Other information
Corcoran Fabrications Limited is a private company limited by shares and incorporated in England. Its registered office is:
6 Dunsters Avenue
Bury
Lancashire
BL8 1EF
Corcoran Fabrications Limited 10560520 false 2022-01-31 2023-01-30 2023-01-30 VT Final Accounts April 2022 T Corcoran No description of principal activity 10560520 2021-01-31 2022-01-30 10560520 core:WithinOneYear 2022-01-30 10560520 core:ShareCapital 2022-01-30 10560520 core:RetainedEarningsAccumulatedLosses 2022-01-30 10560520 2022-01-31 2023-01-30 10560520 bus:PrivateLimitedCompanyLtd 2022-01-31 2023-01-30 10560520 bus:AuditExemptWithAccountantsReport 2022-01-31 2023-01-30 10560520 bus:Director40 2022-01-31 2023-01-30 10560520 1 2022-01-31 2023-01-30 10560520 2 2022-01-31 2023-01-30 10560520 core:PlantMachinery 2022-01-31 2023-01-30 10560520 bus:Director1 2022-01-31 2023-01-30 10560520 bus:Director1 1 2022-01-31 2023-01-30 10560520 countries:England 2022-01-31 2023-01-30 10560520 bus:FRS102 2022-01-31 2023-01-30 10560520 bus:FullAccounts 2022-01-31 2023-01-30 10560520 2023-01-30 10560520 core:WithinOneYear 2023-01-30 10560520 core:ShareCapital 2023-01-30 10560520 core:RetainedEarningsAccumulatedLosses 2023-01-30 10560520 core:PlantMachinery 2023-01-30 10560520 bus:Director1 1 2023-01-30 10560520 2022-01-30 10560520 core:PlantMachinery 2022-01-30 10560520 bus:Director1 1 2022-01-30 iso4217:GBP xbrli:pure