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REGISTERED NUMBER: 03477403 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Fourways Fabrications Limited

Fourways Fabrications Limited (Registered number: 03477403)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fourways Fabrications Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: I H O Goody
M W Webb





SECRETARY: I H O Goody





REGISTERED OFFICE: 14 Rutherford Court
Brunel Road
Earlstrees Industrial Estate
Corby
Northamptonshire
NN17 4SJ





REGISTERED NUMBER: 03477403 (England and Wales)





ACCOUNTANTS: Tollingtons Accountants Limited
Chartered Certified Accountants
11 Ashton Drive
Enderby
Leicestershire
LE19 4BA

Fourways Fabrications Limited (Registered number: 03477403)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 659 -
659 -

CURRENT ASSETS
Stocks 6 17,786 8,500
Debtors 7 73,327 132,575
Cash at bank 27,339 5
118,452 141,080
CREDITORS
Amounts falling due within one year 8 108,540 164,021
NET CURRENT ASSETS/(LIABILITIES) 9,912 (22,941 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,571

(22,941

)

CREDITORS
Amounts falling due after more than one
year

9

22,625

31,333
NET LIABILITIES (12,054 ) (54,274 )

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings (13,054 ) (55,274 )
SHAREHOLDERS' FUNDS (12,054 ) (54,274 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Fourways Fabrications Limited (Registered number: 03477403)

Balance Sheet - continued
31 March 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 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 1 November 2023 and were signed on its behalf by:




I H O Goody - Director



M W Webb - Director


Fourways Fabrications Limited (Registered number: 03477403)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Fourways 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.

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.

Website costs is being amortised evenly over its estimated useful life of nil years.

Website development costs
Website development costs are capitalised as intangible fixed assets and depreciated on the straight line basis over 3 years.

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 cost
Fixtures and fittings - 25% on cost and Straight line basis over life of lease
Motor vehicles - 25% on cost
Computer equipment - 33% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Fourways Fabrications Limited (Registered number: 03477403)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Website
costs
£   
COST
At 1 April 2022
and 31 March 2023 900
AMORTISATION
At 1 April 2022
and 31 March 2023 900
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Fourways Fabrications Limited (Registered number: 03477403)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 30,441 7,779 5,713 4,547 48,480
Additions - - - 983 983
At 31 March 2023 30,441 7,779 5,713 5,530 49,463
DEPRECIATION
At 1 April 2022 30,441 7,779 5,713 4,547 48,480
Charge for year - - - 324 324
At 31 March 2023 30,441 7,779 5,713 4,871 48,804
NET BOOK VALUE
At 31 March 2023 - - - 659 659
At 31 March 2022 - - - - -

6. STOCKS
31.3.23 31.3.22
£    £   
Stocks 7,850 8,500
Work-in-progress 9,936 -
17,786 8,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 69,266 130,639
Prepayments 4,061 1,936
73,327 132,575

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 8,000 21,515
Payments on account 19,988 52,627
Trade creditors 28,108 30,192
Tax 18,415 16,913
Social security and other taxes 2,608 1,243
VAT 18,627 29,959
Credit card (376 ) 573
Directors' current accounts 7,261 8,730
Accrued expenses 5,909 2,269
108,540 164,021

Fourways Fabrications Limited (Registered number: 03477403)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 2-5 years 22,625 31,333

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank overdraft - 13,515

The bank overdraft is secured by fixed and floating charges over the undertaking and all assets.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
1,000 Ordinary £1 1,000 1,000

12. OTHER FINANCIAL COMMITMENTS

The company has future property operating lease commitments of £9,494 per year.

It also has other operating lease commitments of £27,045 in total with varying terms remaining of 5 to 75 months.